Introduction
The purpose of this campaign was to research and analyse the key consumer behaviour issues towards an advertising campaign. The product that we chose was Honda Insight Hybrid vehicle. Following is a picture of the Honda Insight Hybrid car.
Honda Insight Hybrid
Honda wanted to target two categories of customers for their new vehicle launch. Firstly, the students and professionals within the age group of 20 to 29, who were interested in a stylish and safe mode of transportation. Secondly, the elderly above 55 years of age who preferred a technologically advanced and environment friendly vehicle.
The most favoured method of analyzing any product is the SWOT analysis. SWOT means the Strengths, Weaknesses, Opportunities, and Threats of that particular product or company. Following is an illustration of the SWOT analysis of Honda Insight Hybrid car.
SWOT Analysis of Honda Insight Hybrid
Strengths
Honda has a great brand image that will surely help in building up the sales. In today’s world, when the fuel sources are becoming limited and alternative sources of energy are being sought, the fuel efficiency of Honda Insight Hybrid is a welcome feature.
Commenting on a test drive, Ben Stewart said, “If gasoline prices continue to raise much beyond today’s $4 per gallon national average, both Toyota and Honda should see sales of these two hybrids skyrocket.
But if we could have just one of these cars to drive every day, our pick would be the slightly-more-fun Honda.” (Stewart, 2011). Honda has used the latest technology in manufacturing the car.
Another positive aspect of the car is that it emits less pollution and is environment friendly. As a result of these features, the car is expected to be favoured by the masses.
Weaknesses
The inclusion of new features has raised the cost of the car. Honda Insight Hybrid might be the preferred car but due to the high price, most of the people may not be able to afford it. The car hasn’t been tested yet for its on-road performance.
As such, people might resist buying it immediately. They would prefer to wait and watch. According to reports, one of the major drawbacks of Honda Insight Hybrid is its being light weight. Hence its on-road stability is uncertain.
Opportunities
Ours is a vast market. Proper marketing and making people aware of the new features can help in garnering good number of customers. Moreover, many of us are loyal to the brand of Honda. We know that Honda will always bring out the best. This popularity can be tapped to have good sales.
Threats
The major threat that Honda Insight Hybrid has is from its competitors like Toyota. The expected launch of Toyota’s Prius C by March 2012 might reduce the sales of Honda Insight Hybrid. In this regard, Larry E. Hall opined that, “But, it will soon be overshadowed by the 2012 Prius C when it arrives in March.” (Hall, 2012)
Conclusion
The overall behaviour of the people towards the new Honda Insight Hybrid is encouraging and if test reports are to be believed, the car has a bright future. In my opinion, to get an edge over its main competitor, Toyota, Honda should reduce the price of its new car to some extent.
References
Hall, L. E. (2012). Honda Insight. Web.
Stewart, B. (2011). 2012 Honda Civic vs. 2011 Toyota Prius: Hybrid Mileage Test. Retrieved from https://www.popularmechanics.com/cars/reviews/a6661/2012-honda-civic-vs-2011-toyota-prius-hybrid-mileage-test/