Marketing expenses of Hyundai Motors
The automotive industry is marked by intense competition and it is why apart from focusing on innovation in manufacturing and distribution, brands also invest a lot in R&D and marketing. Marketing has become all the more crucial in he 21st century because of the crowd of automotive brands in the market. Customers have several options before them and each customer evaluates the available options before making a final purchase. Advertising and promotions are the method to attract new as well as retain old customers. The marketing expenses of Hyundai motors include the advertising and sales promotion expenses of the brand. In 2017 the brand spent 2460 Billions Korean won on advertising and sales promotion. This was 227 Billion Wons higher than the previous year. Find out more from the table below:
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The data is sourced from the annual reports of Hyundai Motors available on its investors website.