This is he beginning of my paper for my Marketing class. Its all about the marketing of the 08 Accord. You know... product, price, place, promotion, all that good stuff. Let me know what you think of it so far.
"In Developing the new Accord, we considered the road...and everything beyond it." These are the words that graced the cover of the twenty-three page 2008 Honda Accord marketing product brochure. The automotive industry today is a cut throat business, with many companies competing in the same market segment of midsized family sedans. Specifically the Accord, Honda has created several adaptations of the car to entice and expand its target market. The Accord is available in sporty, luxurious, and practical versions of the same vehicle, in an attempt to make it appeal to as many people as possible. The target market for the Accord is the average American. The Accord is a modestly priced, reliable, and good looking car that also experiences good gas mileage. With so many options available (Two doors or four, automatic or manual, V6 or four cylinder), this car is quite literally suitable for anyone.
While designing the Accord, it was necessary for Honda to create a vehicle that is practical, affordable, and more desirable than the competition. Honda’s philosophy has always been a “let the product speak for itself” point of view. In 1956, the company slogan was “Quality Products have no International Boundaries.” A quality product will attract more customers than a poorly made product with tons of advertising. Safety features are a big issue for consumers, so Honda equipped the Accord with four wheel anti-locking disc brakes, stability control, tire pressure sensors, as well as front and side airbags for the driver and passengers. (Honda 1). It comes with a standard three year, 36,000 mile bumper to bumper warranty, which can also be extended if the customer wants to. (Edmunds 1). Under the hood, the car is available in a fuel efficient four cylinder, or a sporty V6, and can be had in an automatic or manual transmission.
The Accord is priced competitively, starting at a $20,300 MSRP for the base LX model (with the four cylinder engine). The V6 two door has a suggested retail of $30,500. A major advantage that Honda has over other companies is the resale value of their cars. In fact, the Honda Accord was rated #6 on a list of the top ten cars with the best resale value by Edmunds.com (based on true market value). Since most people don’t drive their cars for the entire life of the car, resale value is especially important to consider. Resale value also reflects the quality of the vehicle- a high resale value indicates a well made product.
One problem that Honda faced was the distribution of their product. Since Honda is a Japanese company, obviously they needed to find a way to get their product here. Shipping across the Pacific was the primary method for many years, but it was also very expensive. Over recent years, Honda has built several manufacturing facilities in North America, allowing them to ship directly to dealerships across the country. With multiple dealerships in every state, finding a Honda for yourself has become easier than ever.