According to the Hyundai’s Assurance Program, if you get laid off from your job, you can return your car and not even have to worry about honoring the rest of the note payable. Really. Hyundai says you can do this, no questions asked, but of course certain restrictions do apply.
The new Hyundai’s Assurance Program has gotten its share of attention on the web from many blogs and websites. A journalist from The Huffington Post gave a well-written review of the program, while another blogger from The Simple Dollar wonders whether or not the idea is fiscally sound.
What I find interesting is the commercial that I saw about it on television the other night. It seems that they are promoting the idea via Facebook and Twitter. And, they’re asking everyone to buzz and tweet about it. They want everyone to talk about what it is they’re doing, bringing them more business and exposure. The idea of social networking for business exposure is certainly not new. But, in questionable agreement with the Simple Dollar blogger, don’t you have to make money while getting all of that *exposure*? So if (most) everyone is returning their cars if they have undue hardships (possibly many in a shaky economy), then what do you do with that inventory? How do you or can you re-sell an sold car?
Sharing this information on Facebook and Twitter can be a phenomenal plus for the car company’s marketing campaign. Like any viral marketing idea, someone is bound to tell someone else and them someone else. A brilliant way to market a program that works and interests most everybody. Because the program is so necessary and timely for some, I would imagine a marketing strategy like this will take off in a very short amount of time.
How do you think the Hyundai’s marketing plan fits into the social marketing community? Is it buzz-worthy? Will it out-last other car company’s marketing tactics? What do you think?
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