In September 2023, Genesis surpassed the 1 million sales mark. Its domestic sales have surpassed those of Benz, and overseas sales account for 40%. This is a sign that Genesis is beginning to be recognized as a luxury brand. Genesis has been able to position itself as a "modest, young luxury car" beyond "cost-effective luxury car" in the following ways.
1) The brand's lack of heritage was compensated for by actively borrowing Korean elements from the car design, flagship store, and every experience the customer has from purchase to use.
2) Sports marketing and media exposure strategies with 'first' or 'best' titles were implemented, balancing mass and segmented marketing.
3) Recruited external talent with extensive experience in running luxury brands and trained existing internal talent to embody the luxury experience through training and experience programs.
One of the criteria by which Koreans judge a luxury car is its ride quality. How comfortable a car can make the driver and passengers feel while driving was considered important. Recently, the term 'get-off feeling' has started to be used. It mainly refers to the feeling of getting out of the car and being conscious of what others think of you.
However, the stares you get when you get out of the car, "Oh, that's the person from car A," depends on the brand of the car and the person getting out of the car. For example, if a young man in his 20s gets out of a German luxury brand, you might think that he is either a "Gold Spoon" who is well-off and well-liked by his parents, or a "Car Poor" who has dedicated his life to his car. Or you might think that he drives a heavy car that is not appropriate for his age. n the other hand, if a person in their 40s to 50s steps down, they might appear as a successful career man or woman in their field. However, what if they hold positions such as corporate executives or professors that require attention? While some may admire them, others may view them with disdain. This is because some people consider it immodest to drive an expensive foreign car.
This content was translated into English by AI (using DeepL) from an article that was originally written in Korean in the DBR (Donga Business Review). Therefore, please understand that there may be some awkward expressions.
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