Honda Assignment Example | Topics and Well Written Essays - 500 words

Honda - Assignment Example In spite of the bad timing of its entry, the company’s determination to succeed in the international industry led it to where it is now. Product- In terms of product efficiency 100 % quality is not good enough for the company, the standard is set to120% product quality (â€Å"Aiming for 120%†). This has always been their basis into making their products, in line with the goal of meeting or even exceeding customer satisfaction. Honda is focused on the creation of innovative technologies for the enhancement of safety. It is considered as the most fuel efficient car manufacturer in the US for the year 2010. Price- The versatility of their car models are fit to those who plan to buy a car that is enough with their budget. Americans are busy people that’s why owning a car is definitely important. Considering the quality of vehicles manufactured by Honda and with prices that are not too high to be reached, attracting buyers to purchase their product is not at all hard. Place- Honda’s successful penetration into the US market is something that is now catching the attention of strategic management theorists. Standards of the American people are totally different with those of the Japanese. It is one of the challenging parts of business when a firm decides to put up a branch or expand in an unfamiliar place. Having been able to introduce products with a Japanese approach and with the US market’s favorable reaction, Honda’s decision to launch its first out of the country subsidiary in the US was a success. Promotion- The people’s word of mouth helps in the promotion of a product most especially when it is a positive feedback of what they have experienced upon using it. The satisfaction of the customers is what Honda and its dealers from around the world hope to achieve. That is why in order to gain popularity and a good