Business 4050: Strategic Management I
HyundaiCard Case Write-Up
Submitted by: Jordan Loder (201213535)
Submitted to: Dr. Chansoo Park
October 31, 2016 I. Key Success Factors of HyundaiCard
Key success factors are defined as the “combination of important facts that is required in order to accomplish one or more desirable business goals” (Business Dictionary, n.d.). In the case of HyundaiCard, a Korean credit card, some key success factors include the following:
Korean people already enjoyed making purchases using credit cards, even small purchases – this provided an opportunity for the credit card company to earn a lot of money on things likes fees and interests paid by businesses and individual shoppers (Park & Camp, 2009). Furthermore, …show more content…
Specialized “HyundaiCard M” (Park & Camp, 2009) cards were a hit among male consumers and the “M Lady” card elicited a “favorable” reaction from females (Park & Camp, 2009).
In addition to the “HyundaiCard M” and “M Lady” cards, several other customized cards were geared at attracting individualized people such as the “Cellular Phone Card”, the “Teen Group Card” and the “Revolving Card” (Park & Camp, 2009).
High credibility and “reinforced financial stability” were established using strategic alliances (Park & Camp, 2009).
There was active support from the Korean government to use credit cards (Park & Camp, 2009).
II. Definitions and examples of: market leader, market followers and market …show more content…
For example, this would mean ensuring that the HyundaiCard U card could be carried on flawlessly to a higher-level card such as the HyundaiCard M or even the HyundaiCard Purple for students who graduate and transition into high-paying professional fields. Retaining these customers would achieve the goal of maintaining current customer relationships and it would be highly valuable to the company (Park & Camp, 2009).
In conclusion, studying the competitors by doing an external analysis to potentially gain strategies for attracting new customers, studying the company by performing surveys and taking steps to maintain and strengthen relationships should ensure success for HyundaiCard. References
Business Dictionary. (n.d.). What are key success factors? Definition and meaning. Retrieved from http://www.businessdictionary.com/definition/key-success-factors.html
Entrepreneur. (n.d.). Niche Marketing – Small Business Encyclopedia. Retrieved from https://www.entrepreneur.com/encyclopedia/niche-marketing
Investopedia. (n.d.). Market Leader. Retrieved from http://www.investopedia.com/terms/m/market-leader.asp
InvestorWords. (n.d.). What is Market Follower? Definition and meaning. Retrieved from
HyundaiCard Case Write-Up
Submitted by: Jordan Loder (201213535)
Submitted to: Dr. Chansoo Park
October 31, 2016 I. Key Success Factors of HyundaiCard
Key success factors are defined as the “combination of important facts that is required in order to accomplish one or more desirable business goals” (Business Dictionary, n.d.). In the case of HyundaiCard, a Korean credit card, some key success factors include the following:
Korean people already enjoyed making purchases using credit cards, even small purchases – this provided an opportunity for the credit card company to earn a lot of money on things likes fees and interests paid by businesses and individual shoppers (Park & Camp, 2009). Furthermore, …show more content…
Specialized “HyundaiCard M” (Park & Camp, 2009) cards were a hit among male consumers and the “M Lady” card elicited a “favorable” reaction from females (Park & Camp, 2009).
In addition to the “HyundaiCard M” and “M Lady” cards, several other customized cards were geared at attracting individualized people such as the “Cellular Phone Card”, the “Teen Group Card” and the “Revolving Card” (Park & Camp, 2009).
High credibility and “reinforced financial stability” were established using strategic alliances (Park & Camp, 2009).
There was active support from the Korean government to use credit cards (Park & Camp, 2009).
II. Definitions and examples of: market leader, market followers and market …show more content…
For example, this would mean ensuring that the HyundaiCard U card could be carried on flawlessly to a higher-level card such as the HyundaiCard M or even the HyundaiCard Purple for students who graduate and transition into high-paying professional fields. Retaining these customers would achieve the goal of maintaining current customer relationships and it would be highly valuable to the company (Park & Camp, 2009).
In conclusion, studying the competitors by doing an external analysis to potentially gain strategies for attracting new customers, studying the company by performing surveys and taking steps to maintain and strengthen relationships should ensure success for HyundaiCard. References
Business Dictionary. (n.d.). What are key success factors? Definition and meaning. Retrieved from http://www.businessdictionary.com/definition/key-success-factors.html
Entrepreneur. (n.d.). Niche Marketing – Small Business Encyclopedia. Retrieved from https://www.entrepreneur.com/encyclopedia/niche-marketing
Investopedia. (n.d.). Market Leader. Retrieved from http://www.investopedia.com/terms/m/market-leader.asp
InvestorWords. (n.d.). What is Market Follower? Definition and meaning. Retrieved from