I was watching the wild card playoff games between the Falcons and Cardinals where I noticed a huge media buy by Hyundai for the Hyundai Assurance program. According to the official press release,”Hyundai is providing a complimentary vehicle return program for the first year on every new Hyundai that is financed or leased for owners who experience an involuntary loss of income within 12 months of the purchase date”.
Certainly this is an unprecedented move in the auto industry. And marketing wise, it is a brilliant one. According to the American Marketing Association, marketing is defined as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers”. This program certainly provides value to customers in these economic times.
And after only two days, it looks like the program is so far getting a great deal of coverage through the press, blog community and social networks. Congratulations to the marketing folks at Hyundai for creating a relevant marketing program for the times.