Hyundai Motor Company’s “Selective Focused Local Adaptation Strategy” and the Product Planning and Development Process: from the Perspective of Global Marketing

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Abstract:

The number of vehicles produced and sold worldwide by Hyundai Motor Company is rapidly increasing. This paper aims to comprehensively clarify the methods it uses to gather information in emerging economies to create customer value, and the systematic product planning and development process through which designs from within and outside the company are reflected in specific products and embodied as customer value in its integrated process through to marketing and sales. More specifically, it analyzes (1) the status of the selective focused local adaptation strategy; (2) the product development process; and (3) systems that facilitate product development aimed at local adaptation.