Introduction Hero Honda was established in 1984 in India as a joint venture between an Indian Company HERO GROUP and

a Japanese Company HONDA MOTOR. For many years after the establishment, Hero Honda enjoyed sole motorcycle producer in India as it has got the first mover advantages. Later various other Indian brands entered the market with the name like Bajaj, TVS and Mahindra. Other foreign companies like Suzuki and Yamaha also entered market after visioning the growth potentiality of the market. But Hero Honda has still been able to retain the no. 1 position in India. In case of Nepal there is intense competition between Hero Honda and Bajaj. Similar to the case of India, Hero Honda in Nepal has always been considered as the most trusted bike in the country that is backed up by the partnership with a world class Japanese company Honda. In Nepal, Hero Honda and Honda has the highest resale value than bikes of any other company. Hero Honda has a wide range of motorcycles available in Nepal. The wide range of Brand Portfolio is designed in such a way that it will target a wide range of customers and stay one step ahead of the competitors. There are 12 different products available under the brand Hero Honda in Nepal. Name of the motorcycle along with its current price in Nepal are listed as follows: S.N. | Name | Amount | 1. | Hero Honda Karizma ZMR | Rs. 286,900 | 2. | Hero Honda Karizma R | Rs. 236,900 | 3. | Hero Honda CBZ Xtreme | Rs. 186,900 | 4. | Hero Honda Hunk | Rs. 190,900 | 5. | Hero Honda Pleasure | Rs. 137,900 | 6. | Hero Honda Splendor Plus | Rs. 135,900 | 7. | Hero Honda Glamour | Rs. 170,900 | 8. | Hero Honda Super Splendor | Rs. 151,900 | 9. | Hero Honda passion PRO | Rs. 142,900 | 10. | Hero Honda Splendor NXG | Rs. 139,900 | 11. | Hero Honda CD-Delux | Rs. 123,900 | 12. | Hero Honda Achiever DSS | Rs. 174,900 | Source: www.pricenepal.com Brand Awareness The fact that the brand is known to all in the Indian market and Nepalese market cannot be questioned. The company in this regard has got the first mover advantage also. When most of the company during that period was manufacturing 2 stroke scooters, Hero Honda was the first to enter to the motorcycle segment. The company with partnership with Honda, Japan entered the Indian market and captured the entire segment with its monopoly. The company was in such a position that it was difficult for its competitors to beat the strategy of Hero Honda. The recall of the brand was not as difficult as it was single player and at present its regular television commercial and sponsoring of cricket are kind of its reminder ads. Brand Image A survey conducted to compare the brand image of the Hero Honda and the Bajaj shows just 2% difference in both these with respect to the brand image. The Hero Honda gets 55% compared to 53% of Bajaj. The brand was has been promoted with several taglines: * DeshkiDhadkan * DhakDhak Go * HarGaonHarAangan ( Every village, every courtyard) With the split of joint venture between the Munjal group and the Honda, Japan, it is expected that the

brand image of the company will decline and the competitors find it a good time to take advantage to increase their market share. The reasons for this are: 1. The dealers during this period will face demotivation and are very likely to switch to other brand. 2. The product and quality of Japanese 2 wheeler is definitely better than the Indian 2 wheeler. The Honda will definitely bring in its separate product in the segment in the near future with more intense advertising to beat Hero group. The Munjal Group will have to come up with new strategies to build its brand image and regain the position that it holds today. Market Share of Hero Honda and its Competitors Talking about the whole of Nepals market, Hero Honda has been able to attain 30 % of the whole market since last four to five years, and taking that into account, the number of bikes sold by Hero Honda in the year 2010 is 120,000. 28% of the market has been captured by motorcycles manufactured by Honda Motors, 22% by Bajaj and other motorcycle companies like Yamaha, TVS, Suzuki and other imported bikes etc have been able to earn their share in the remaining 20 percent. The most attractive segment for Hero Honda has been the 100cc bikes segment since its establishment, in which it has been able to capture about 80 percent of the market with its motorcycle brands such as Splendor, Splendor NXG, CD deluxe, Passion Pro etc. The next segment in the mortorcycle market is 125cc segment, Hero Honda has not tried to focus much on this segment, and has just two bikes- Super Splendor and Glamour 125, both of these bikes comprise 10 percent of the total market in this segment, market leader in this segment is Honda motors with two well designed economic and powerful bikes, i.e. Honda Shine and Honda Stunner. Then comes the 150cc segment of bikes where the dominant player is Bajaj Motorcycles Pulsar which captures more than 50 percent of the market in this segment and has been the market leader for this segment since its launch which took place around 10 years back in time. Though Hero Honda also has some good bikes in this segment, it has just been able to acquire 30 percent of the market due to dominancy by the Pulsar brand. The next level in the segment is the powerful bikes segment, where Hero Honda has two bikes doing quit good in the market- Karizma and Karizma ZMR. There are others bikes as well in the market like Pulsar220, Avenger, Fazer, and Apache etc by other manufacturers like Bajaj, Yamaha and TVS respectively. All of these bikes share similar amount of sales in this segment of the market, so each bike gets around 15 percent of market share in this segment, With Hero Honda getting a total of 30 Percent share in the segment. Since last 9 years Hero Honda has been the largest manufacturer for motorcycles all over the world. The employees at Hero Honda, Syakar co. that is the sole distributor of Hero Honda Motorcycles in Nepal also claim that, Hero Honda motorcycles have reached to all of those countries where motorcycles are used as a general means of transportation, and not just for the sake of passion. Other countries like in the west prefer Sports or Custom bikes to fulfill their passion for bikes. Points of Parity and Points of Difference As Bajaj, TVS, Yamaha and Suzuki are the closest competitors for Hero Honda in case of Nepal, Point of Parity and Point of Difference can be generated majorly considering the above mentioned competitors. Points of Parity 1. All the competitors are focusing on Sporty look to target the young generation. For example: Hero Honda manufactures Karizma ZMR, CBZ Xtreme, Hunk; TVS manufactures Apache 160 and Apache 180; Yamaha manufacture R15, FZ16, Fazer; Bajaj manufactures Pulsor 150, Pulsor 180, Pulsor 200, Pulsor 220 to target young generation with good sporty look. 2. All the competitors are focusing on good mileage to target the customers of different age groups. For

example: Hero Honda manufactures Splendor plus, Super Splendor, Splendor NXG, Passion plus and Passion Pro; TVS manufactures Flame and Star City; Yamaha manufacture Alba, YBR; Bajaj manufactures Discover, Platina to target customer requiring good look and mileage. 3. All the competitors are focusing on light weight product to target the female customers of different age groups. For example: Hero Honda manufactures Pleasure; TVS manufactures Scooty Pep; Yamaha manufacture Alba, YBR; Bajaj manufactures Kristal to target female customer. 4. All the competitors are extensively using print advertisement in Nepal to attract the customers. 5. All the competitors are providing free services and warranty for certain period of time as a reflection of after sales service. 6. All the competitors are providing various finance schemes to the customers so that customers can make payment in number of installments. Points of Difference 1. Hero Honda is the first motorcycle company that opened its showroom in Nepal. Hero Honda motorcycles are imported directly from India by the sole importer Syakar Company Limited. After few years other company like Bajaj, TVS, Suzuki, and Yamaha followed to explore the market. So, Hero Honda clearly holds the first mover advantage in Nepal. 2. Hero Honda as a joint venture between Hero Group and Honda Motors has access to latest technology and design. Assistance from a world class company like Honda Motors definitely help the company to earn the trust of the customer in terms of all dimensions of quality. 3. Hero Honda has always been able to come up with advance version of same motorcycles. For example: It transformed Karizma to Karizma R to Karizma ZMR, CBZ to CBZ Xtreme, Splendor to Splendor Plus to Splendor NXG. Other competitors totally discontinued some of the brand portfolio. For example: Bajaj discontinued Caliber, Eliminator, CT 100, Spirit, Chetak. But Hero Honda always maintains its brand portfolio through continuously updating with requirement of the customers. 4. In Nepal Hero Honda is the only motorcycle company that provides driving classes through professional. 5. Hero Honda provides wide range of product in terms of models and price range as compared to the competitors attracting wide range of customers with different taste and preferences. 6. Hero Honda motorcycles are considered as machines that requires low maintenance cost, most fuel efficient and excellent after sales services as compared to its competitors. 7. Hero Honda motorcycles have the highest resale value than any other competitors in the country. Brand Elements Hero Honda always seeks to establish a unique impression on customers. The quality assurance created by the company passes from generation to generation. The customers reflect Hero Honda as a trustable brand. Hence, Hero Honda is considered as one of the top brands in the industry. Each and every individual thinks of Hero Honda when it comes of purchasing a new bike. He/she may or may not purchase Hero Honda but at least place it in the first three options. Identification of brand elements and assessment of their ability to contribute to brand equity according to six criteria for selecting brand elements are discussed as follows: 1. Memorability Hero Honda has been able to build brand equity through well established brand awareness. Frequent television commercials and print advertisements have been used to create a good position in customers mind. Today, everyone think of Hero Honda as a good alternative when they think of buying a motorcycle. In most of customers mind, it falls within the top 3 list. In addition to making aware of Hero Honda motorcycles, it has also been made available everywhere in Nepal. 2. Meaningfulness Hero Honda has been successful to be descriptive as well as persuasive. As we talk about being

descriptive, Hero Honda motorcycles are all about quality motorcycles. Even though there is less advertisements as compared to Bajaj Auto in Nepal, Hero Honda basically refers to bikes with good credibility. Hence, Hero Honda products have the highest resale value in the country. As we talk about persuasiveness, Hero Honda bikes has been actively spending lots of money in promotions to persuade customers. They have started producing various art designs printed in the bikes to make it more attractive. It has been using new technologies which will help to improve the performance of the bike with more power and mileage. Apart from that, all the Hero Honda Products are available with two years warranty and one year free servicing. 3. Likability Hero Honda motorcycles are very popular among the motorcycle users in Nepal, whether they own one or not. The products of Hero Honda are spread all over the world and customers are very much satisfied with the products of Hero Honda. Hero Honda motorcycles are available in different models with different art designs printed on it with good variety in terms of colors, size, power and performance. In short, Hero Honda motorcycles are for everyone, for youngster, students, elders, business professional, teacher, professors, everyone. Furthermore, Hero Honda bikes are well known for being quick to update its design to move along with the requirement of present generation. For example Hero Honda introduced Karizma targeting the youngster, then it updated to Karizma R by using new technologies to meet the requirement of changing demand and now it has been modified to Karizma ZMR with new look and better performance than ever before to beat the competition. Hero Honda has taken good care of the fact that different age group will prefer different models depending upon their comfort. For example, elder people will generally prefer 125cc segment with comfortable model (Hero Honda Splendor), youngster will prefer more powerful bike with sporty look (Hero Honda Karizma), and female users will prefer light two wheelers (Hero Honda Pleasure) and so on. These all benefits make Hero Honda aesthetically appealing. 4. Transferability Hero Honda does not limit its product category to motorcycles for male customers only. We can get Hero Honda scooters which has been making good name in the Nepalese market. Therefore, we can say that Hero Honda has been successfully introducing new product categories within similar product class. In case of geographical boundaries and market segment, Hero Honda has been operating globally across targeting different market segments. There is no problem with adapting to the culture of different countries in terms of the name of the brand. It has been doing well in various part of the globe. Therefore, Hero Honda stands well in terms of transferability. 5. Adaptability Everything needs to be updated along with the time. Todays customers are becoming more and more demanding than ever before. If any company fails stay one step ahead of the customer demand or fails to walk along them, then the companys future is really dark. Hero Honda has been able to realize the growing demand of the customers. Hence, it always comes up with new design, upgraded inside technologies in terms of power and performance. Talking about its logo, which is the same right from its existence, is still quite suitable to attract the customers. Therefore, we can say that Hero Honda is highly adaptable in todays market. 6. Protectability Hero Honda is definitely protectable in terms of both legal and competitive sense. Hero Honda is a registered company and conducting its business successfully throughout the globe. Hero Honda products are manufactured in India and sold globally by authorized manufacturers and authorized dealers only. Therefore, it will help to maintain the quality and uniqueness of the products. Similarly, any other competitors are restricted to copy the name, logo, design or any other component that primarily belongs to Hero Honda. Options and Tactics for Brand Elements Brand name Hero Honda brand name is very appropriate as it is descriptive as well as suggestive in nature. Word Honda definitely reminds one of the motorcycles and also suggests its collaboration with the Japanese

motorcycle ace, in addition to that, word Hero also adds a feel of admiration for the prospective customer. So basically the name Hero Honda acquires all the advantages of Honda both as a name as well as a motorcycle brand for and also has some additions to it. Also it is very simple and easy to pronounce and spelled even the latter part of it being from Japanese origin. Hero Honda is a worldwide brand and is a registered trademark of Hero Honda Company. URL www.herohonda.com is the URL for Hero Honda; it is definitely the simplest URL as it avoids any kind of confusion. And www.honda.com.np is the URL for Hero Hondas dealer Syakar co.s website. Having a URL exactly same as the brand name is always advantageous in case of products which have a mass appeal, and also reserving the main brand name under this domain does not allow unauthorized use of the domain names for the same brand. It does not deviate from the actual product; any random visitor of herohonda.com will get to know just by the name itself that this site is from a motorcycle manufacturer. Logos and symbols The logo of Hero Honda is appropriately designed; with an animated picture of a motorcycle front and besides that the brand name is written in clear block letters. Such literal representation of the brand name enhance brand awareness as the logo describes the product category and also mentions the name of the brand and the name appearing in red block letters also brings a corporate feel to the logo. Characters Hero Honda has not used any characters in the face of mascot or anything as such that is fixed to the hero Honda brand name. But they have celebrities endorsing for the brand such as Bollywood actors: HrithikRoshan, Priyanka Chopra, and ShahidKapoor. These are all young actors and definitely have an appeal to the youngsters who are one of the target groups of the company. Slogans DeshKiDhadkan is the slogan used by Hero Honda, (translation- Heartbeat of the Nation) and is tries to create a place in the minds of the customers by getting into the emotional part of them, by relating the brand to the country and the rest role is played by the patriotic passion among the people, though it is not the case in context of Nepal as they are talking about India in the above slogan, but it definitely has some effect on emotion driven customers. They have also used other slogans like Aage, SabseAage which translates to as- ahead, ahead of all. Use of such slogans helps the brand to make a comfortable place in the young customers brains, as most of them want to be ahead of the others, whether it be while riding a bike or in the race of life and progress. Jingles Hero Honda uses jingles for the building brand equity and awareness only for particular brands of motorcycles and not for the umbrella brand i.e. Hero Honda. They have used jingles in TV ads for bikes such as Passion, Splendor, and Pleasure etc. These tunes and jingles are still in the minds and tongues of the people even long after they have stopped broadcasting these ads. Most of these are very melodious as they are sung and composed by best musicians of India. One such jingle was Why should boys have all the fun used for the advertisements of hero Honda scooter- Pleasure. Hero Honda Brand Mantra The company through its various activities has created an image of its brand in the mind of the customers. The mental map discusses this in detail. The chart presented below describes the mental map of the Hero Honda. Performance The brand started with the concept of low cost and fuel - efficient two wheelers. The products were reasonably priced and the company did not aim to maximize profit for its monopoly during the period. The cost plus profit structure was used to set the price. The motorcycle that the company produces is of excellent quality as it is supported by Honda, Japan. The company has never compromised in terms of quality to meet the requirement of the market. Also, introduction of self start and alloy wheels in its bikes have increased the value to the riders. Initially, the bike came with no any added features but with time,

the company looking at the market requirement has added various features thus enhancing the performance. Image The image that the brand has on the people includes reliable, fuel efficient, low cost and Indias number 1 four stoke two wheeler. It took a company very long time and hard work to create this image and is very difficult for its competitors to create their place in the customers mind next to Hero Honda. The marketing of the product always includes a end statement that says DhakDhak Go. By this the company is actually trying to get connected with the sentiments of the people. Sports The brand is promoted mostly in the game of cricket. The company has and is advertising and sponsoring in many of the tournaments held within or outside the country. Recently, the company also sponsored the common wealth games 2010. The company has also signed million dollars deals with many Indian cricket players to be the brand ambassador of the Hero Honda. Negatives The company is very backward in coping with the market demand with respect to its competitors. Its competitors are coming up with new models and technology in the segment whereas it seems that for Hero Honda, the R&D department now needs to pull up and face the competition. Also, with the exit of Honda from the joint venture, the company will have to face difficult times if such continues. Besides this, the marketing of the brand still relies on the traditional ways which needs to be restructured now. People The product ranges from splender to Karizma to scooty. That means, the requirement of all the different groups of the society is considered. For older, the suitable options are splender, glamour, passion etc. For people giving high weightage to masculine feel, Hunk is suitable. For sporty look, karizma is suitable. CBZ is suitable for youth. PERFORMANCE NEGATIVES SPORTS IMAGE HERO HONDA HERO HONDAS MENTAL MAP PEOPLE Hero Honda CBBE Pyramid--------------------(Tero part ---)yahan bata High Awareness: Easily recalled brand in most part of the world, especially in India and Nepal. Good in both breadth and depth. Mixture of Class and Quality: Explore quality product through strong existence from the past and use of icons in advertisements. Security and Self-Satisfaction: Feeling of social approval and free of maintenance. Reliability and Durability: Reflects the consistency in performance and provide longer economic life. Credibility and Superiority: Extremely trustworthy and likable because of superior quality and modern design.

Sense of loyalty and community: Higher rate of repurchase and feeling of attachment. Brand Salience Hero Honda, as being the first motorcycle manufacturer in India and the first imported bike in Nepal is always been top of the customers mind during the conversation of bikes and scooter. On top of that collaboration with Honda, a very well renowned motor company of Japan, helps Hero Honda to provide a belief of quality assurance to all the customers. In case of Nepal, Hero Honda motorcycles and scooters definitely can be recalled easily as it has been able to create excellent brand awareness. Therefore, it has a good depth of brand awareness. In addition, Hero Honda motorcycles are not only popular among the customers but also affordable and fall under the budget of middle class customers. Hence, customer does not have to limit themselves to a dream to have a Hero Honda motorcycles and scooters but can purchase it with reasonable budget. So, it has a good breadth of brand awareness. Brand Performance Hero Honda has been consistence in terms of better performance. It meets the growing demand of the customer in terms of functional needs. Hero Honda motorcycles and scooters are considered as the most durable products as compared to other competitors with similar price range. It also provides one year free servicing for all its products. Apart from consistency, durability and serviceability, Hero Honda motorcycles and scooters are available in aesthetic designs and are very stylish to ride on. Brand Imagery Hero Honda reflects the mixture of class and quality through strong existence right from the time of establishment. It has been able to create a good brand image through production of high quality products, frequent commercial advertisements, excellent after sales services and so on. Hero Honda has been using youth icons like Hritik Roshan, Priyanka Chopra an Indian film star, Indian cricket team, Famous hockey players to make the advertisement more attractive. Collaboration with Honda has always been a huge factor that will enhance the brand image of Hero Honda in terms of credibility and trustworthiness. Brand Judgment Hero Honda has been able to make the customer secure by exploring high quality assurance. Customers find Hero Honda very much credible and superior as compared to other motorcycles and scooters because of good design, style, power and performance. The brand attributes leads to higher customer value and satisfaction. It is credible in terms of all three dimensions namely: perceived expertise, trustworthiness, and likeability. Hence, it has been able to build intense relationship with the customers. Brand Feelings Hero Honda has been able to obtain emotional responses from the customers through continuous improvement in the all dimension of quality of the products. Customers feel excited to ride on a well known motorcycles and scooters backed up with security in terms of better performance, reliability, consistency, durability and perfect style that suits todays fashion. Customers also feel that others look favorably to their appearance with the use of well known brand in the country. Hence, the customers receive good social approval in case of choice and use of well known brand. Brand Resonance Hero Honda has created a great deal of psychological bonding with the customers through providence of consistence quality products for years. This kind of psychological bonding supports a lot in achieving strong brand loyalty. In case of Nepal, there is higher rate of repurchase of Hero Honda motorcycles and scooters. Once the customers experience the ride on Hero Honda products, then they are very much keen to repurchase the product of the same company when their existing products life is over. The users of Hero Honda who are living in the same society or colleges or office or any other place may come together and talk about how their bikes are performing. Hence, a sense of community can also be seen between the users of Hero Honda products. Strength of the brand Hero Honda has successfully captured the growing demand of motorcycles. It is backed by the international giant Honda and is the top seller in Indian and Nepalese market as well. Hero Honda has

been coming up with various new models and technology together with being highly fuel efficient and reliable. Besides these, the company has a very good chain of service centres and qualified personnel are who have expertise about the product. The maintenance cost of the Hero Honda motorcycle is also comparatively low as the parts fairly priced. These are the sources of brand equity of Hero Honda. Different advertisement of the bike and scooter addresses different segment of the society. The slogan of the company that says DhakDhak Go targets the young crowd. The brand ambassador of the company at present is HritikRoshan and Priyanka Chopra who are the icons of the youth today. The sponsoring of various programs and cricket tournaments in India has also made the brand popular and recallable. The sponsoring of Common Wealth Game 2010 was its recent marketing activity. The company from the start itself has focused on improving the technology rather than introducing new models time and again. It updates its model time and again. the image that it has created in the minds of its customer is that the brand and the product provides value for money. The brand image of a product for the general public has made the brand very popular among all. The ads being shown and displayed also focuses on these issues very carefully. The product and the brand provide a sense of trust and reliability. The customers recall the brand as requiring lesser maintenance, fewer breakdowns and having high resale value. The brand has become a synonym for bikes in various part of the country. Firstly, because of its goods distribution channel reaching to rural areas and because of its fuel efficiency factor. The highest selling Hero Honda Motorcycle at present is Splender. The company has various choices in splender which makes its suitable for all groups of people, even for youngsters. The availability of self start, alloy wheels makes it a good option for younger crowd. The company also has a first mover advantage in this segment. The name itself signifies trust and makes its choice of many people. In India, people above 40 years of age prefer Hero Honda just because it is Hero Honda and nothing else matters to them. The company has taken up several corporate social responsibilities in its locality which makes it different from its competitor. Some of which are: * Installation of deep bore hand pumps. * Constructing metal led roads. * Renovating primary school buildings. * Ensuring a proper drainage system. * Promoting non-conventional sources of energy by providing a 50 per cent subsidy on biogas plants. Besides these, the company is also involved in various other social activities like: * Operating Raman Munjal Memorial Hospital * Set up of Raman Munjal Sports Complex * Operating vocational training centre * Supporting the marriage of un privileges girls * Rural health care Weaknesses and opportunity The company has various other options and strategies to improve its brand value. First of which is creating hype and curiosity which means even before the product is launched in the market, the company may come out teasers to excite the viewers about the product..The company has been company out with various new models and creating such hype on some occasion might give positive outcome. By doing so, the company actually can increase the life cycle of the product. Such kind of strategy was recently followed by the company before the launch of Hero Honda Karizma ZMR. The advertisements initially did not show any sign of the brand but was later revealed to be Karizma. The second suggestion would be to make maximum possible research about the requirement of the market and then only work to develop any new product. The present market relies more on pull sales rather than push sales. The company should identify the requirement of the market and then only function. For example: at present Yamaha has come up with two different bikes FZR and R15. The market requirement is very well understood which ask for a stylish and sports look in a fair price. The Yamaha has been very successful in capturing these segments of the people. The idea is not only to inform the customers but

involve them and make them put in their mind and heart in the development process of the product. By doing so, the company not only engages customer but increases the customers loyalty towards the brand. The other suggestion would be to come up with new technology before the competitors do. At present Yamaha and Bajaj are very rapidly eating up the share of Hero Honda. The present generation choice largely depends today on the style and power of the bike. All other things are becoming secondary. These days these segments of people rarely care for fuel efficiency. The company in this segment has just one choice and that is Karizma whereas its close competitors have a range of choice in this segment. Also, Hero Honda does not have any cruiser whereas its both the competitors have. Also, the company lags behind in the technology. For Example, Bajaj has been very hugely cashing its DTSi technology. The latest of which is DTSFi. Hero Honda should come up with similar technology up gradation to beat the market. In the context of Nepal, the company has been providing the same scheme every year during Dashain Tihar for the last 5 years. The scheme allows the customer to scratch a card and win prizes. The cash prize ranges from Rs. 2000 to Rs. 100,000. The company has been promoting this since past 5 years. The company like its competitors should come up several new schemes from time to time to attract customers. The company has been from many years cashing its fuel efficiency factor but its high time the company should provide the customer with choices. The sale of Hero Honda 5 years back was huge and market share was 76% in Nepal market. But now it has considerably decreased because of the strategy of its competitors and its inability to change with the market requirement. The company must understand its competitors and their strategy which creates brand equity. The company can analyze its competitors by finding out the features of the competitors product and then targeting the area where its competitors lag behind instead of trying to capture the market where its competitors have a good hold. For example: Bajaj Pulsar DTSi. The company instead of coming up with similar technology can use its R&D to bring about a breakthrough in this industry. Targeting the market with similar technology is not a bad idea but is definitely difficult path. It will require huge marketing expenditure to make the customers switch from Pulsar to a particular model of Hero Honda. The company is supported by the big international giant Honda which is known for its technology. The company should take advantage of this and try to upbeat its competitors strategy and technology. Its competitors are coming up with several innovative marketing strategies whereas Hero Honda still sticks to the traditional ways. The company focus just on TV commercials and newspaper ads whereas its competitors are organizing road shows time and again, contests to attract people. By doing so the customer is building its brand awareness and also increasing brand loyalty. Once in a while, the company organizes rally for its existing customers. Hero Honda recently launce a Hero Honda Good Life program but was not hyped much. Despite these shortcomings, Hero Honda still regains the top position in the market with an annual sale of more than 4.8 million bikes a year registering a net profit of Rs. 2232 crores. Reference: * Keller, K. L. (2007). Strategic Brand Management. In K. L. Keller, Strategic Brand Management. Prentice-Hall. * http://www.herohonda.com/media_current_releases.htm#30july2010 * http://www.herohonda.com/media_current_releases.htm#25jan2010 * http://nepalbikez.com/news/ * http://www.herohonda.com/investors_pdf/annualreport2009-10 * http://www.researchandmarkets.com/reports/371629/hero_honda_motors_ltd_2006_annual_report * http://www.pricenepal.com/33-hero-honda
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MLA Citation "Brand Audit". Anti Essays. 4 Apr. 2011 <http://www.antiessays.com/free-essays/73164.html> APA Citation Brand Audit. Anti Essays. Retrieved April 4, 2011, from the World Wide Web: http://www.antiessays.com/free-essays/73164.html Related Essays Apple Strategic Audit Netflix Strategic Audit... Marketing Audit And... Charlotte Beers, Ogilvy... Marketing Audit Gordon Ramsey Generic Vs. Brand Name... Auditing Standard Explain Briefly The Main... The Advantegous Of Branding

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