| The New Hyundai Equus |
Will this continue the "Genesis" of repackaging and brand reinvention in the motor maker's business model? Hyundai has realized the need for reinvention and growth of its brand mirroring other automobile manufacturers who have wanted to flank every price point and brand proposition there is in the market. General Motors has the same model..Although I think some of its line up is duplicate and redundant..but we know car fanboys take their cars seriously! Toyota upscaled with Lexus, Honda with the Acura and now, Hyundai with the Equus. But it will be interesting to see however, how Hyundai sells pricey luxury when consumers clearly associate Hyundai with practical and affordable utility. It would be a hard sell. After all, the buyers who can afford the price points Hyundai is charging for the Equus..may not necessarily want to be known as driving a Hyundai.
Talking about brand repackaging, there is a lot that Toyota can do now to gain the consumer trust and confidence back. Some hard core Toyota loyalists, like my husband and me, swear by the brand and trust our and our family's lives in it. Knock on wood! However, the market is a cynical place and Toyota needs re-engagment with its once loyal core consumer. So, Toyota has reached out to its existing customers to regain their vote of confidence is the intuitive and timely " Toyota Auto Biography" campaign. Toyota users humanize their Toyota brand and share their "auto" biography on how a Toyota has been an integral part of their lives. For instance, A family shares its Toyota story of how a Camry has made it through decades of growing children and milestones and emphasizes "reliability" and "affordability". Clever and touching...at the same time! Of course, viewers are asked to share their Toyota story on Facebook. An apt vehicle of currency for today's brand managers to garner engagement and participation. Engaged!!
Another brand which definitely needs a shake up is the famous American big box retailer, and the world's largest public corporation, by revenue - Walmart. Walmart has great things going for it. A strong brand value, an excellent supply chain and a strong focus on the bottom line which permeates the entire organization. However, the value proposition that Walmart's offering is hugely nullified by the dismal shopper experience one has in its hallowed aisles! Take a look at the shopper surveys which show the negative brand associations made about Walmart.
I was at a local Walmart the other day..and I am sorry to say, I felt I was at the last open grocery store just before the Armageddon. Empty grocery shelves, rummaged frozen food aisles, wet and dirty floors, harried people milling around everywhere and to top it all off..serpentine lines.. and shut express lanes. It made me nervous...agitated. I just left my cart and walked out of the store empty handed.
Value shopping does not have to become a survival race. Remember Walmart does not just attract Value shoppers, but also the price sensitive brand enthusiasts. I cannot say I will never go back to a Walmart again..But, I would like to...I like the $300 savings in my pocket on annual grocery purchases. Who does not?
The question really is..Hyundai and Toyota did not have a choice. They had to repackage to stay alive in the marketplace. However, Walmart, no matter how green and how organic its look and feel is getting, is failing at key places. When Brands feel the need to shake up...they better feel it before the customer does.
Do you agree? Let's talk!
