In 57 paragraph please provide an Competitive Analysis Adva

In 5-7 paragraph please provide an Competitive Analysis & Advantage of Honda Motor Company?

Solution

Introduction:

Honda Motor Company is a Japanese multinational company having its headquarters in Tokyo, Japan with businesses all over the globe within automobiles, aviation and power equipment industries and also invests in robotics and artificial intelligence. Honda is a pioneer in manufacturing internal combustion engine and is world’s eighth largest automobile company in terms of revenue. By and large major part of revenue flows in from Honda’s automobile segment along with its luxury automobile brand Acura. Honda is the only Japanese brand where in the highest composition of its revenue was from North America sales.

Analysis:

Honda has mastered certain key management concepts to lead in its industry which are further attributed to its low cost strategy, where in the company has identified technologies and the intellect to produce key components for its automobiles which are cheaper to produce with the reliability factor intact, that enable Honda to offer cheaper prices for its automobiles. Other than this to facilitate cost leadership an able management of labour is a prerequisite, with better employee engagement programs, efficient customer support network are other essential factors that has helped Honda to concrete its leadership status in the industry.

Honda strongly believes in efficient supply chain management which further contributes in its vision of cost leadership, Honda has efficient control with its supplier base through better internal relationship management along with reliable logistics. Honda’s able recruitment has further helped in better development and allotment of engineering processes as the employees recruited by the company also share the same vison as Honda and also possess right set of skills and expertise to achieve that vision.

Competitive Advantage:

Honda’s competitive advantage is based on three factors which are, Product Value, reliability and customer service. These factors are managed with utmost precision by Honda and very few automobile manufacturer can repeat the same success story as Honda has been doing since generations.

Product value:

Honda strongly believes in creating value for its customers by introducing and facilitating vehicles that are regarded as generating maximum value for the money it is available, vehicle’s fit and finish, features, its fuel efficiency etc. contribute to the success of this factor.

Reliability:

Honda has created a reputation of reliability for its vehicles with better engineering customers also have peace of mind when driving Honda vehicles that results in better product experience for them.

Customer Service:

With better showroom and service center networks in almost every region along with easy availability and longer lasting spare parts and vehicle components, Honda has mastered the most important aspect of a successful product strategy.

NOTE: You can also design a SWOT analysis with the data mentioned above.