Innovations in Marketing

This is the latest trend being followed by marketers to market their products. Last year's economic downturn was the reason that forced marketers to imbibe innovations in their strategies which will reduce the marketing BUDGETS. Take the example of Hyundai (for jobs in Hyundai click here) in US. During recession period, Hyundai setup a new campaign giving option to their potential customers- You lose your job in one year, return the new car you bought during recession. This acted as a peace of mind for the customers and shows that Hyundai thinks for their customers. It’s not the first time they’ve marketed a creative offer strategy. Hyundai was the first company that to give 10 year, 10,000 mile warranty. It proved to be a brilliant strategy during economic downturn. This had a great impact on Hyundai sales, an increased of 14% in January during recession, whereas the other automakers in the market moved downwards with single digit negative numbers.