This report is belongs to Honda Sedan cars which is developed by HONDA MOTORS, Japan for the South Asian countries which covers Indonesia, Malaysia, Philippines and Thailand. The motto behind launch this car is in those countries is to gain revenue and increase market share on these countries. Before the launch of this car in the current segment Honda Motors had done the market analysis and they knew the requirements of the market and specification need. Honda Motors uses Porter's 5 forces of model and PESTELE analysis to know the market segment and needs of market in those rising countries. Once Honda Motors had finished this research they conducted complete NPD (New Product Development) research and on the bases of that they conducted action plan for the same. For this survey Honda Motors conducted primary survey method and collected data from the market. Honda Motors conducted quantitative research with the help of statistical tools. With the help of statistical tool they generated final data for the market scenario and on the bases of that they come out with the best market strategy to promote their new motor in current segment.
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With the change in time and global market, each organization has to be upgrade and need to modify their products to reach the market demand. To be a market leader each organization has to be initiative and has to be updated on any point of time to gain competitive advantage. To fulfill that condition each organization need to be updated and for that each organization has to do market research by using appropriate statistical method. This research is limited to south Asian countries (Indonesia, Malaysia, Philippines and Thailand) for new developed car segmentation.
NPD (New Product Development):
This is the process which is based upon a market research and purely based on statistical quantitative research, which helps to know the market condition and situations. This is the systematic process which is start with process of collecting data followed by storing and finally analyzing the data about customers, competitors and market. After this process the product plan has been developed on the bases of this analyzed data which covers market structure and proper research methodology. This report contains product plan for the Honda Sedan in the current car segments in mentioned countries.
About Honda Motors:
Honda Motors was founded in the year 1948 by Mr. Soichiro Honda and Takeo Fujisawa at Japan. The head quarter of the company is situated at Tokyo, Japan. It was registered as public company at TYO and NYSE stock exchange. Honda motors started with two wheeler segments and right now it developed in many branches like, Automotive, Aviation product, automobiles, motor cars, jet engine, electrical generators and robotics. With this success Honda Motors are leading and Mr. Satoshi Aoki and Takanobu Ito are Current chairman and CEO respectively who runs this organization and taking this organization at new horizon. Currently Honda Motors are world's largest motorcycle manufacturing company in the world. According to annual report of year 2009 which is published by Honda Motors they are sixth largest automaker in the world and fourth largest in the US. They also mention $120.27bn revenue with $1.39bn net profit. The asset of the organization has assets worth $124.98bn and holds equity worth $40.6bn. The employee base of this corporation is 181,876 worldwide. They also have subsidiary product named The Acura and The Honda Aircraft. (Sources: Honda Motor Company (HMC) www.wikinvest.com, zenobank.com and world.honda.com). Honda also works as a name of PT. Honda Prospect Motors with capital of $7mn in Indonesia. In Malaysia they also work in partnership with DRBHICOM and known as Honda Malaysia Sdn Bhd. That partnership has been awarded by "Highest Customer Satisfaction" in Malaysia in the year Nov., 2000. (By: about us (Honda site)). In Thailand, Honda Motors works as a Honda Automobile (Thailand) Co. Ltd since 1983. It manufactures automobiles for domestic as well as for export purpose. In the year 1990, Honda Motors started its business under the name of Honda Cars Philippines Inc. in Philippines but started production after two years in the year 1992. Currently production capacity in that unit is 15,000units per annum. (Source by: hondaphil.com in investors information) on above countries Honda Motors have a good grip over the market. Appendix A mentions the organizational structure of Honda Motors. Honda motors have been awarded by "the Greenest automaker" by UCS (Union of Concerned Scientists) for five successive years. That award is supported to spread business in the mentioned countries due to those countries are promoting "eco-friendly" cars. This organization is also leading in technology and innovation. Appendix B mentions that organization structure for the same.
Always on Time
Marked to Standard
This report is projected on new development for Honda Corporation Japan. It is based on developing a new car for South Asian Countries which mentions above. This report is an attempt to analyze new development of compact and hybrid cars on those countries. It also covers the complete market research for the same.
Task 1 A:
The need of NPD:
NPD is the process which helps organization for design to develop, test and viability consideration for new products. It also ensure that survival and growth for the organization. Due to current environmental changes it is necessary to make eco-friendly products and Honda Motors are leading on that area. It also helps to achieve the highest customer satisfaction on those countries. It also supports new technical changes for green environment and value money for the customers. Due to change in technology each organization has to be upgrade its product to stay in competitive market and NPD is the essential part for gain the market and technological changes. It also provides competitive advantage to the company.
Honda Motors are launching the new car on those SE Asian countries with in short time. The motto of launching this segment is to increase market share on the following countries. The NPD and objectives of Honda Corporation Japan for the new cars is as follows:
Check accessibility of a new developing and fast growing market
Compete with other motors for entry level in market segment
Check the competitive moves by market
Achieve greater long term growth
To Increase market share and profitability
To achieve these objectives Honda Corporation Japan plans to launch a new car in this segment and they planned for Honda Sedan. It is planned as per market needs to achieve the market needs. The specification of Honda Sedan is given in below table:
Engine Block/Cylinder Head
Horsepower @ rpm (SAE net)
140 @ 6300
Torque (lb-ft @ rpm)
128 @ 4300
Bore and Stroke (mm)
81 x 87.3
16-Valve SOHC i-VTECÂ®
CARB Emissions Rating
Direct Ignition System with Immobilizer
100K +/- Miles No Scheduled Tune-Ups
5-Speed Manual Transmission
MacPherson Strut Front Suspension
Multi-Link Rear Suspension
Stabilizer Bar (mm, front/rear)
24.2 / 10.0
Power-Assisted Rack-and-Pinion Steering
Steering Wheel Turns, Lock-to-Lock
Turning Diameter, Curb-to-Curb (ft)
Power-Assisted Ventilated Front Disc/Rear Drum Brakes (in, front/rear)
10.3 / 7.9
Sources from : Honda motors site
The average price of Honda Civic Sedan is RM 124,900 (OTR) in Malaysia.
Task 1 B:
With the use of proper Analytics tool any organization can grow rapidly. In this analysis the method which used is given below.
Malaysia, Indonesia, Philippines and Thailand are Southeast Asian countries and the members of ASAN (Association of Southeast Asian Nations). Total population of these four Southeast Asian countries is approximately 432 millions. The Population, Area, GDP and GDP per capita of these countries are shown in the below table.
Area (square kms)
Population (2009) in Millions
GDP(2009) in USD (in Billion)
GDP/capita(2009) in USD
Per capita income (2009) USD
Sources by: www.cia.gov, www. prb.org (2009), www.imf.org and www.nationmaster.com
The above mentioned four countries have the major part of population of the whole Southeast Asia. 66.2% population of the whole Southeast Asia lives in these four countries which show the customer potential for the company. Over 80% population of these countries is high school graduate. These are democratic countries and the major religion of these countries is Islam. Other religions are Buddhism, Catholic and others. The political system that is presidential system of these countries is almost same but all governments encourage the foreign investments in the countries. These countries have harmonies relations with each other's and rest of the world. There are many agreements like EU-ASEAN, US-ASEAN etch to promote the investment in the ASEAN region. The governments work in public private partnership mode (PPP) to encourage the foreign investors. The major part of the population is middle income group in these countries. These countries have open market and harmonies political relations with western countries and rest of the world. In addition, there is no discrimination between domestic and foreign countries. Even governments provide free industrial zones to attract foreign investors. Moreover, these countries have ample source of electricity and water. As part of the ASEAN these countries have close relations with each other. Prime aims of the ASEAN are economic growth, protection of peace, social & cultural development, protection of the peace, and stability of the region. Government policies, like stimulus policies, scrap page schemes are positively motivating the markets providing the advantage over others. For example, the Thai auto
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market has given a positive response for the tax incentives provided to the "eco-cars" producers, by the government. Whereas, the three ASEAN auto-markets (Indonesia, Thailand and Malaysia) have taken advantages of various schemes provided by the governments to promote auto industry.
Bursa, M (Sep 2009). The political system of these countries because of ASEAN is in the favour of foreign investment particularly in eco-friedly products. At this point, Honda Corporation is a leading company to provide innovative and "green products".
Despite the global recession Asian economy is recovering more faster than the rest of the world. "GDP and industrial production figures for emerging Asian economies have shown an impressive bounce in the second quarter."-The Economist (August 2009). The economy of Indonesia, Malaysia, Philippines and Thailand is growing rapidly. Indonesia managed 5% increase and other regional countries are expecting similar result. High growth rate, low cost, availability of human and other sources and economic reform provide more competitive advantage to these countries. According to Business Monitor International (March 2008) "the ASEAN region and the ASEAN Free Trade Agreement (AFTA) have been instrumental in providing a basis for trade and cooperation between not only the member states, but between divisions of the same company in different countries." The primary goals of AFTA are to attract foreign investment and to create the competitive edge. For Instance, the IMV project of Toyota Corporation takes the input from different units throughout the emerging markets for producing vehicles efficiently and cost-effectively. The ASEAN Industrial Cooperation Scheme (AICO) impacts automotive trade. In AICO program, the approved companies can get the benefit from the AFTA 0 to 5% preferential tariff rate, for approved items trading including raw material, semi-finished goods, parts and completed vehicle. According to Business Monitor International (March 2010) in 2009, Thailand exported 536000 vehicles out of 999,378 produced vehicles during the year. The country shows 8.1% GDP in 2009. Approximately 1800 automotive part suppliers are in Thailand. World's major automakers are available in the country. A forecast by the TAIA shows that the domestic sale of vehicles in 2010 will grow up to 590,000 units with the increase of 7% year on year (Source: Ibid). The major hold on market with 42% is in the hand of Toyota. Malaysia is at the highest ASEAN country in car sale. 486,342 units were sold in 2009. According to MAA (Malaysian Automotive Association) forecast the domestic sales in 2010 will be 544,260 units but the year on year increase will be 1.3% (Source: Ibid). Malaysia has a native auto industry, an automotive component sector and good R&D capability. In 2009 the Malaysian government developed a new National Automotive Policy (NAP) that works to nourish the domestic industry in collaboration with the foreign brands through open market. After Financial Crisis 1997-98 the demand of vehicles increased sharply in 2003 and 2005. But the weak points of the market are high fuel prices and interest rate. But in
2 - http://trade.gov/static/ASEAN%20Automotive%20Market%20Final.pdf
2008 vehicle sale was at lifetime high with 607,805 units which was dropped by 20% in 2009 (Source: Business Monitor International, Feb. 2010).
In Indonesia there are less than 1 in 35 car owners in comparison with Malaysia (1 in 14) and Thailand (1 in 7). So there is more potential for growth. Presently the Indonesian government is working on the construction of the roads and also offering incentives to the fuel efficient cars like Thailand. Philippines have almost same type of economy which is very favorable for the growth of the automobile industry. Moreover, these countries are enriched with a range of natural resources like, Tin, Petroleum, Copper, Iron, Bauxite, Timber, Natural gas, Rubber, Lead, Nickel, cobalt etc. which are very useful for an auto industry. Above all, availability of efficient and low cost human resources adds extra benefits. The transportation system of these countries is also very advance and good. Several studies reveal that better infrastructure particularly electricity and road transport drastically helped to reduce poverty in these countries. However, there is good potential particularly for the Japanese car makers. Because, Japanese companies have a strong hold on these ASEAN markets. Thus, there is a green signal to Honda Corporation to invest more into these countries.
As per the population the majority of the people are Muslim in these countries. In Malaysia and Indonesia Muslims are in majority. More than 85% population of Indonesia belongs to Islam. The majority of population in Thailand belongs to Buddhism. 30% population of Indonesia and Thailand live in urban areas, and 40% of Philippines and 50% of Malaysian population live in urban area. On the other hand, 90% population in Philippines is Christian. There is the mix eastern and western in the urban areas of these countries. However, these are multicultural countries. On the basis of population these are very dense countries. The countries are political and cultural medley of various communities, ethnic groups and nations. The society and culture of these countries have an influence of India and China. In addition, influence of colonialism can also be seen in these countries except Thailand. Thus, the multicultural society will welcome to the new innovative products. (Source: Social Anthropology of Southeast Asia (scribd.com))
From technological point of view Indonesia, Philippines, Thailand and Malaysia are in the top Asian countries after Japan, China and Korea. The infrastructure of these countries is quite good. The roads, rail network and Airports are of world class. Additionally, communication technology, information technology and other highly advanced technology is available in these countries. Because of open market almost all the technology which is available worldwide exists in these countries. Above all, there are many natural resources available in these countries which can be used by the companies.
3 - http://www.scribd.com/doc/3866679/Social-Anthropology-of-Southeast-Asia
For example, rubber, petroleum products etc. For Honda there are many opportunities available to harness the natural resources of the countries.
The environment of these countries is almost same. Usually, the climate of these countries remains hot and humid because of sea and rainfall. Thailand's comes in Mainland region whereas Malaysia and Indonesia come in Insular Southeast Asia. Historically, there are many natural disasters were seen in these countries like tsunami in Indonesia (near about 155000 people died on 26 may 2006). But Honda is already setup in these countries with its products. So the new product will be as per the environment norms of the countries. Above all, Honda is a innovative company famous for its eco-friendly products.
ASEAN launched a latest industrial co-operation program named ASEAN Industrial Cooperation Scheme (AICO). AICO program is created to develop. In this program two ASEAN countries can make 'AICO agreement'. The prime benefit of this program is its tariff rates which are 0-5%. Other things are in the hand of local governments. As the stated earlier, local governments are already committed to provide benefits to the investing companies for their eco-friendly products. The existence of Honda can take benefits of these schemes of ASEAN and local governments. The aims of the ASEAN schemes are:
To increase industrial productionÂ and complementation
To increase ASEAN integration
To Increase ASEAN and non-ASEAN investments
To increased intra-ASEAN trade and economies of scale
To enhance technology base
To increase private sector participation
Honda is already setup in ASEAN countries. So the company can take advantage of such schemes.
Ethically, Honda Corporation is a strong company. Honda has developed "Honda conduct guidelines". In this guide lines they mentions:
Compliance (Respect of Law, Respect of company rules, Respect of social norms)
Contribution to society
Management of information
Safety and Hygiene
4 - http://www.aseansec.org/21861.htm
5 - http://world.honda.com/CSR/pdf/CSR-06-10-Honda-Conduct-Guidelines.pdf
Protection of Privacy
Fair Business Transaction
Harmonies Relationship with Governmental Agencies
Valuable Communication (Source: Conduct Guidelines (world.honda.com))
Porter's 5 forces Model:
Threat of new entrants:Â
New entrance in establish market is very tough situation for any new organization who is entering in established market. But with this entrance they also bring new opportunities and new technologies. Honda motors also bring green technology in South Asian countries (e.g.: Indonesia, Thailand, Malaysia and Philippines). That helps Honda Motors to cover the SA countries. Ford, Toyota, Suzuki, Tata, Vauxhall, Mitsubishi and BMW are already established their market on this segment. As those countries are fast growing countries they help to establish the business.
Threat of substitute product:
Substitute products are also main competitive products which affects the sales of new entrance products. Similarly Honda Motors had faced that problem. Because when Honda Motors enters in SE Asian countries alternately products are already available in that market (e.g.: innovative products provided by Toyota, Ford, Tata, BMW, and Mitsubishi). But Honda Motors came with new features, specifications and price levels and as the result Honda Civic Sedan covers that market.
Bargaining Power of Customers:
Buyers are directly affect the market and segment. They prefer fewer prices, good quality and more service after sales. Any company who can fulfill these conditions that organization can gain the advantage in the competitive market. Honda Motors had done that survey and successfully launched its Honda Civic Sedan with all features. Honda Motors come with new innovation of Green Concept which is promoted by those SE Asian countries.
Bargaining power of suppliers:
Supplier of row material can affect the market with their demand. They can increase the price and decrease the quality. On that situation a company can also gain demand of their products and can take advantage by their knowledge and supplier are also like to merge with big brand so also they can gain their business. SAP is also provides that option in MM (Material Management) module. Honda Motors had implemented that module and as the result that organization got competitive advantage amongst other competitors in the situation of bargaining power is increased of suppliers.
Nature of Rivalry:
Once successfully enter in the market, the organization has to face competitions with other competitors who are already established in market. When Honda motors enters in SE Asian countries other car manufacturing companies are already had been established on that segment like BMW and Mercedes with premium segment, Mitsubishi with sport cars, TATA with economy cars. After all that Honda Civic Sedan has been launched as a all features.
Task 1 C:
Develop this scenario of New Product Development into a Project which includes milestones with dates.
Project Life Cycle:
As a human being each human has a different stage of life similarly every project has a life it is known as Project Life Cycle. It has four stage of life cycle.
Concept and initiation
Design and Development
Commission and handover
On the bases of this concept any project can develop and get better existence in market. The detailed information about this stages are mentioned below.
Concept and initiation:
As a Honda motors is already developed in European countries and now they want to extend their business in SE Asian countries. But the problem is much big organization is already established in these countries. So A Honda motors have to develop new concept for cover the market. So they come along with Green Car concept. They develop eco-friendly car in middle class segment. That idea is based on research and innovation. The objectives and vision of Honda motors is "Striving to be a company society wants to exist". On bases of that they developed a Honda Civic Sedan on medium range. The cost of this project near about 2.2$bn. To fulfill that project Honda motors has to be produce at least 15000 cars p.a. to reach at BEP (Break Even Point) and for profit and good margin company need to be produce 30000 cars per year for this segment.
Design and Development:
Honda motors developed Honda Civic Sedan on the bases of consumer's choice and demand. Consumer wants business look, lower price fuel sufficient car for their personal use. Honda developed Sedan as per the consumer's requirement and also launched in Auto-expo. By that Auto-expo they collected a feedback of Car users and also took opinions from other car producers in same segments. That concept was tested on group of customer who desire that kind of car.
This Honda Civic Sedan was first launched in Vietnam during auto-expo due to TAIA was forecasted the annual sale of car will suppose to reach at 590,000 units during year 2010 which is higher than previous year. It is neat about 7% higher than the previous year (source by: Ibid). On the bases of that forecast Honda motors conducted a market survey and they tried to know consumers need and greed. After knowing the need and greed Honda motors launched its Civic Sedan on the same category. They successfully implement the customer's need and greed and as the result the sale is increased and it also helps to establish in the SE Asian markets.
Commission and Handover:
After successful testing and implementation phase, Honda motors handover Honda Civic Sedan to the Marketing and Operation Department for commercialization and launching in other SE Asian countries to cover the market.
Task 1 D:
Using an appropriate method of presentation, prepare an action plan for completing the project of New Product Development. Your plan must include Methods for Monitoring and Updating.
Honda Shine Development Plan
Time-frame (Begin by- End by)
Concept and Initiation
Project Officer and
Human resources, Stationery
(Pen, pads, paper etc.)
Softwares (word, excel Etc.)
Cost & Benefit Analysis
Design and development
Project Officer and
R&D, Machinery, Computers,
Internet, Softwares (autocad)
Market analysis report
Project Officer and
Venue (auto expo etc.)
Human resources, feedback
Commission and Handover
Source: Janet Shapiro; Action planning (www.civicus.org)
This action plan will be monitored for any inconsistency. The quality of the product as well as the process will be checked periodically. Honda motors arranged timely meeting to arrange the monitoring for this project. The time frame is more important for the finish the work in stipulated time.
Task 2 A:
For research there are many techniques available in study like Descriptive, relational, inductive, Deductive, Historical, Philosophical, Case studies, Surveys etc. But for this research of Honda motors Survey technique is very suitable for new entrance in market. Because with this method Honda motors can reach to the end users and can know the need and greed of the consumers. Moreover Honda motors can know the opinion and thinking method of consumers. With the method of questionnaire survey method we can collect quantitative as well as qualitative data.
There are two three methods to collect the research data quantitative method, qualitative research and empirical method.
In this research we are going to use quantitative and qualitative research. The data for quantitative research by using secondary method through journals, reference book and articles while the qualitative data is collected by questionnaire survey method. By this method we can calculate percentage by mathematical and statistical tools. This actual data is helps to understand the opportunity of the market in SE Asian countries.
For quantitative research statistical techniques will be used. Three type of category has been created for the same. E.g.: positive, neutral and negative. Then percentage of these people will be calculated like 50% positive, 30% neutral and 20% negative. There is a chance to convert neutral into the positive.
Task 2 B:
For developing a new product many sources are required, which are mentioned below:
Training and development resources
Once feasibility has been checked by primary survey then finance research come in place. Finance department checks how much finance they need for this new project. Without money project can't be carry out for a long. Finance is too much required for any kind of work. Once finance has been settled then human resource came in picture. Also finance is required for material, land, machinery, plant, information etc.
Once finance has been finalized then HR comes in picture for start organization. HR is establishing the entire procedure from manpower management to end process. All projects are run by human power and for effective manage the human power HR is required.
Once HR is establish they start recruitment for different process. These resources are required to carry out the project. Physical resources carried out machinery, plant, land, building, equipments etc. which is required to run the project and finish the project in stipulated time.
Training and Development Research:
Once recruitment done, all employees need to proper training for successful process. If training is proper then employees can work proper and as the result the organization gain the profit. But only training is not enough to run organization efficiently but development is also required as the same like training. Both are carrying same part of development phase.
Maintenance is constant running process in organization from begin to end. If maintenance is proper then any organization can grow up. The breakup chances are getting reduced. This is supportive resource for organization. For example, parts, tools, facilities, funding, technical data, test equipments etc. are covered in this research.
These all processes are required for Honda Motors to gain the business in SE Asian countries as the Honda motors are starting new business on those countries. Honda motors are come up with Honda Civic Sedan on those countries so they need to do all research which mentions above.
Task 2 C: following activities should be covered by Honda motors as per above mentioned research.
When any organization check a feasibility for new product at that time they also check how much finance will be needed at the point of start new business. As per estimated finance organization arrange amount. For that amount they are merging profit to new sector or they are taking loans from banks or business industries.
For starting new project first have to target internal job posting who are capable for that. Once it done, organization can shift other employees to new unit. By this way organization don't need to train as they have sufficient knowledge of the organization. Once that process is over organization can higher from external people. For running unit successfully they also need local person who can interact in domestic market. For that process they can publish advertisement in regional media. They also contact placement agencies for better qualified and experienced staff.
Physical needs like land, building, plant, machineries they can contact local domestic supplier which helps to reduce transportation and import cost to the organization. They can also take machineries on lease or on contract for start a new organization.
Training and Development Resource:
Once the organization finished its IJP (internal job posting) then it is very easy to train them as per new condition. But when they are hiring from outside means the external jobs they need to give proper training to the new hiring people. So they can understand the organization and the demand of job profile. Once training has been finished the developing part comes in picture. Developing is constant process during entire life cycle of production and employers.
It is very important to maintain the current tools and machineries. If organization is success to maintain that the breakdown ratio is decrease. As the result production is getting never stopped and it indirectly affects the market. If the maintenance is proper then the customer satisfaction ratio is getting high and as the result the organization can achieve the market needs.
Task 3 A:
There are many tools and techniques are available to develop marketing strategy. Amongst them the following two tools are used to develop Honda Civic Sedan.
4Ps of marketing:
For marketing prospect 4Ps are very important for any organization. The 4Ps are Place, Product, Promotion and Price. With the help of these 4Ps any organization can achieve the goal of they need.
Place Variables: Selection of proper place is very important for any organization for selling their products. For selling the cars in new range they need distribution agencies. Organization also need ware house to store ready goods and also this ware house is to be needed near manufacturing unit. All the products have to be distributed from the ware house as per the demand. As the Honda motors are already had started their units on those countries, also they have wide range of products on those countries. So they can easily launch Honda Civic Sedan on those countries in existing range. Honda motors also developed the eco-friendly car so Government of those countries also supports that product. That is the advantage for Honda motors.
Product Variables: A Honda motor is a very strong name in automobile industries. Honda motors are coming along with various ranges of products. They are leaders in innovation. They used umbrella branding method for technologies. For Honda Civic Sedan they developed wooden look dash board, leather seat cover, six speakers, auto arranged mirrors which attract the customers a lot. They also provide option of dual fuel system that means they also provide diesel engine along with electric option which reduce the pollution. This is the milestone for Honda motors which increase the sales of the organization.
Promotion Variables: Honda Civic Sedan is promoted by their local source which was promoting other Honda brands. Initially they had launched before Eid in Malaysia and Indonesia and before Christmas in Thailand and Philippines. They also arranged the events to launch the car in existing segment. They also promoted their car with audio visual media.
Price Variables: Honda Civic Sedan was launched with fewer prices with competitive advantage on same market segment. The close competitor of Civic Sedan is Toyota's Yaris car which contains same features. The competitive advantage is Yaris provides 2years service while Honda Civic Sedan is providing 3 years full service. That attracts consumers more.
It is very helpful to create a market strategy. Honda motors follows the following strategy for develop the market. They launched new product in existing market hence the risk is became a medium for the products. Also Honda motors launched the eco friendly car so the advantage of eco friendly is also gives benefits due to Govt. of SE Asian countries are prefer and promote that products.
Image from: http://www.12manage.com/methods_productmarketgrid.html
The figure which mentioned in above page it gives idea and easy understanding for Ansoff strategy.
Progress Monitoring and Evaluation:
As the result of analysis task 1, what were the findings according to the SE Asian market needs?
Outcomes: as per the study of Honda Motors the following findings are as,
There are potential growths on SE Asian countries due to those countries are developing countries.
They are more emphasis on eco-friendly products so that is better option to launch eco friendly cars over there.
As the price of fuel are increasing every automobile sector need to find alternate source which derives new technology
Adequate the human resource ability to the industry.
Task 3.D Recommendation:
ASEAN countries are currently on development phase to it is better to launch the new product which is also promoted by ASEAN Govt. that gives an advantage to cover the market. There are need to develop the products which also helps to nature in terms of carbon emission. Also it gives the advantage in terms of finance to the organization. If any organization is success to fulfill the demand of Govt. that organization also get subsidies and other benefits from Govt. There is a need of researcher who helps to optimize the use of natural resource.
For developing a new product, service, process or anything to test in the market; market research is required. After completing the finishing the entire task we come to know about the importance and implementation of research and research methodologies. For successfully finish the task or research a good and responsible team is required who can dedicate to the work.
Bursa, M (Sep 2009) "ASEAN automotive market review - Management briefing", Justâ€Auto, p.1
Business Monitor International (26 March 2008) Commercial Segment Key Driver of Asian Growth, p. 5
The Economist (15 Aug 2009) On the Rebound, Vol. 392, Issue 8644, pp. 69â€72
Lilien, G. L., Kotler, P., Moorthy, K.S. (1992) Marketing Models, NJ: Prentice-Hall International