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Hyundai Card

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by

ihsan indra

on 23 September 2014

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Transcript of Hyundai Card

Hyundai Card
HyundaiCard
Hyundai Card
The innovative marketing strategy focused on
costumers' lifestyles
. Hyundaicard divided its car members into
4 categories (general, low, middle, high)
. costumer segmentation filtered each group's usage status amd purchasing methods and helped in collecting data according
age, gender and the main location purchase
TIMELINE / MILESTONE
PRODUCT KNOWLEDGE
FINAL PERFORMANCE
$1.25
Tuesday, September 23, 2014
Vol XCIII, No. 311
HyundaiCard Co., LTD
BACKGROUND
HyundaiCard
TARGET MARKET
Hyundai Card
Fourth largest credit card company in korea and third largest monoline credit card
Sponsored by Hyundai Kia Automotive Group
Established in 1999 when the Hyundai Motor Group acquired Diners Card as a subsidiary
The company goal was to strengthen its financial, retail business and internet field
Strategic Alliance with GEFC and then make a contract for the call center operations with transcosmos korea
1980
1998
2002
2000
1978
1967
1980
Bank and Non Bank Company began to do credit card business in korea
1998 &1999
JULY '98.
Increased capital W100 billion
2000 & 2001
OCT.
Changed company name to HyundaiCard Co., LTD
2002
JAN.
Released Hyundai "M" Card
1967
Diners Club Card, The world's first credit card, launched in korea
1978
Korea Xchange Bank launched its first credit card under a joint venture with visa. target clients for who travelled frequently
2005
2006
2008
2007
2004
2003
2005
MAY
. Opened HyundaiCard VIP Lounge at incheon International Airport
2006
APR
. Renewed Alphabet card marketing
2007
JAN
. Released HyundaiCard V
2008 & 2009
FEB
. Released Family Discount Card, HyundaiCard H
2003
MAR.
Increased capital to W180 billion
2004
JAN
. Disclosed HyundaiCard's corporate identity
NOV.
Became an affiliated company of Hyundai Motor Group
OCT.
Opened wireless internet site
APR
. Remodeled and opened Internet shopping mall site
JUN.
Increased capital to W310 billion
JUN
. selected as korea's most respected enterprise
SEPT
. Won first place in service quality index for the credit card
OCT
. Opened costumized travel site
AUG
. Established a strategic alliance with GE Consumer Finance
APR
. Released HyundaiCard V, Completed first succesful overseas US$400 million bond by an asian cardn company
JUL
. Attainment of an impressive 5,000,000 cardholders under HyundaiCard M
HyundaiCard
SWOT ANALYSIS
HyundaiCard formulated "
Alphabet Marketing
". HyundaiCard executed the company's alphabet marketing strategy by launching
HyundaiCard M, S, W, U, K and A
based on
costumer lifestyle.
and expended into the premium market via the introduction of "
the black
" and "
the purple
" cards and then "
the red
" cards
HyundaiCard won prestigious korea's most respected company in the credit card category from korea association of management consultant
Ranked number 1 for the fifth consecutive year in the credit card category according to National Consumer Satisfaction Index (NCSI)
HyundaiCard acquired diners card as a subsidiary
Credit Card in South Korea
The Highest User of Credit Card in the World
America = 5,3 Cards
Korea = 3,78 Cards
Singapore = 2,98 Cards
Etc
Credit Card Usage in South Korea
Government Support
Encouraged consumers to use credit card

Penalized stores that not accepted credit card

Tax Incentive

Stimulate private spending and secure more tax

annual growth of credit card business 80%, 100 million card issued and 40% credit card usage
Government encourage policy that costumer to use credit cards to simulate
2012
HyundaiCard returns have been hurt by tighter regulation by the government
The Government banned card companies from extracting higher fees from smaller merchants
COMPETITIVE POSITION
Threat Of New Entrants
Bargaining Power of Buyer
Bargaining Power of Supplier
Threat of Substitute Products
Rivalry Among Existing Competitor
Threats
Strength
Weakness
Opportunities
strategic alliance
with GE
Hyundai
has broad range of products
such as automotive, online and offline shopping mall electronics and etc - HyundaiCard
has more benefits
Ranked #1
for fifth consecutive years in 2009
four largest credit card company
in south korea
Direct loan in purchasing hyundai
Company's performance had n
ot

progressed
since 2002
Late

comer
in Credit Card
Web traffic
on the HyundaiCard was
low
,
not too interesting design
No english translation
Strict

control
of the korean government
rapid

expansion
in number cards, 4 cards in each person
growth in bad credit history
from credit card user in 2003, bubble burst 3,7 million people or 41% have bad debt
Korean Credit Card Website are
still growing
in popularity
Korean government
encourage
the use of credit card
New costumer and area of market
- go global to penetrate other countries in Asia, Europe and America
Number of people using internet regularly
in 2014
(78 % of 50 mil of South Koreans)
Provides cheaper interest rate
. Starting from costumers with good credit history
Marketing Strategy
Online (eCRM)

Offline (transCosmos)
eCRM
Strengthened
customer relationship management
Established
themed malls in website
Design and GUI
upgraded

Call Center (transcosmos.inc)
Being contracted
for operations in 2005

Offering
flexible operations
, call center
quality improvement
and
streamlining
of operations going forward.

South Korean credit card market share
HyundaiCard Ownership Structure
Thank you!
Full transcript