With the rising quality of life among Chinese residents, cars are becoming an increasingly more popular means of transportation. Competition between Chinese and foreign brands in the automobile market is also getting tougher, as domestic brands steadily boost their market share but still cannot compare with their foreign counterparts. The sales volume, price difference, and brand recognition caused by brand-building are issues that domestic brands must think about. Consequently, in the present market environment, research on the brand-building strategy of domestic cars will help independent brands find their way, increase their competitive strength on both domestic and international market, as well as boost their market share.
This article focus on the current situation of the Hongqi brand and its influence among the medium to high level automobile market. It uses the strategy of famous brands domestic and abroad as a source of reference, and analyzes the brand value of Hongqi and those interior and exterior factors that influence the realize of its value. Combining theory with practice, it puts forward sensible strategies and methods for domestic brand reconstruction.
The essay analyzes influence factors to the value of Chinese independent brands. Using the example of Hongqi and putting related theories of brand value to practice, it explores the strategy and methods for brand value reconstruction. The article provides valuable suggestions for Hongqi to restore a postive image and become a symbol for national brands. This will, no doubt, contribute to Chinese independent automobile brands.