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Business: Advertising & Promotion Management

The paper is intended to be read by busy marketing executives who are generally familiar with the product, service or idea but are relying on you to identify and explain the psychographic analysis, provide comparison to the industry and competition and to make recommendations they can consider in their marketing strategy.
PRIMARY COMPANY: HONDA
ADDITIONAL COMPARISONS: TOYOTA AND NISSAN

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Comparative psychographic segment analysis in the automobile industry: What Honda can do to become a market leader
Introduction
The paper will illustrate how Honda Motors Company’s psychographic profile lags behind that of the main competitors, namely, Toyota and Nissan, and suggest that, for the firm to become competitive once more, it has to rethink its 4Ps of marketing. Honda Motor Company is a Japanese public multinational conglomerate firm that manufactures motorcycles, automobiles, and power equipment (Honda, 2018). Honda Motor Company has remained as the world’s largest manufacturer of motorcycles beginning in 1959 and the leading firm in the production of internal combustion engines, manufacturing at least 14 million units each year (Honda, 2018). In 2001, the company was named as the second-largest Japanese manufacturer of automobiles. In 2015, Honda Motor Company was acknowledged as the 8th largest automobile producer globally. Hence, it is vivid that Honda plies its trade in the automobile industry. Two of the main competitors selected for comparison purposes are Nissan...

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