Download Toyota Strategy Marketing PDF

TitleToyota Strategy Marketing
File Size999.9 KB
Total Pages19
Document Text Contents
Page 1

mailto:[email protected]

Page 2

Table of Contents


Introduction ............................................................................................................................................ 3

1. Industry Analysis of Toyota ................................................................................................................. 4

1.1 Internal Factors ............................................................................................................................. 4

1.2 Macro Analysis .............................................................................................................................. 4

1.3 Micro Analysis ............................................................................................................................... 6

1.4 SWOT Analysis ............................................................................................................................... 6

2. Developing a Segmentation and Targeting Strategy .......................................................................... 8

2.1 New Product of Toyota ................................................................................................................. 8

2.2 Identification of Relevant Segmentation Criteria ......................................................................... 8

2.3 Rational and Justification of Segmentation Strategy .................................................................... 9

2.4 Targeting Strategy ....................................................................................................................... 10

3. Positioning Strategy for ‘Toyota Prius’ .............................................................................................. 10

3.1 Key Positioning Objectives .......................................................................................................... 10

3.2 Positioning Strategy and Communication Plan ........................................................................... 11

4. Marketing Strategy for Product Life Cycle Stages ............................................................................. 12

4.1 Product Life Cycle (PLC) .............................................................................................................. 12

4.2 Suggested Marketing Strategies at each PLC Stage .................................................................... 13

4.2.1 Introduction Stage Strategies .............................................................................................. 13

4.2.2 Growth Stage Strategies ...................................................................................................... 14

4.2.3 Maturity Stage Strategies .................................................................................................... 14

4.2.4 Decline Stage ........................................................................................................................ 14

5. Long Run Competitive Strategy for ‘Toyota Prius’ ............................................................................ 14

5.1 The Strategy for Competitive Advantage .................................................................................... 14

5.2 Appropriate Strategy for New Hybrid ‘Toyota Prius’ .................................................................. 15

5.3 Perceived Value Analysis ............................................................................................................. 15

Conclusion ............................................................................................................................................. 16

References ............................................................................................................................................ 17

Page 10

Source: Cohen (2004)

It is evident from the highest total of pioneers followed by „Green‟ lovers that they are most

suitable segments for Toyota for its new hybrid vehicle i.e. „Toyota Prius‟. Therefore, the next

section will demonstrate the strategy of targeting these two behavioural segments.

2.4 Targeting Strategy

After selecting an appropriate segmentation strategy, the company has to develop targeting

strategy. According to Kotler (2000), “targeting is the process of evaluating each market

segment’s attractiveness and selecting one or more segment to enter” (p.215). Three

different targeting strategies include: undifferentiating, differentiated, and concentrated

(Stone and Desmond, 2007). Undifferentiating strategy cannot be adopted as Toyota is not

willing to convey same message to everyone. The company can use either differentiated or

concentration targeting strategy. In following the differentiating strategy, the company can

target each segment with its own marketing mix to meet the desires of the customers. On

the other hand, concentration (or niche) targeting strategy is even more suitable for Toyota

where the company can target well-defined group of customers.





3. Positioning Strategy for ‘Toyota Prius’

Petzer et al. (2006) define market positioning as “the process by which an organisation’s

marketing managers try to position their organisation” (p. 138). The positioning strategy of

„Toyota Prius‟ is described in the following subsections.

3.1 Key Positioning Objectives

The key strategic and operational positioning objectives for pioneers and „Green‟ lovers are

developed on the basis of the criteria identified for the new product. The objectives are

presented in table 1.5.

Page 18

http://www.smmt.co.uk/wp-content/uploads/SMMT_FACTS_2012_WEBv.pdf
http://www.smmt.co.uk/wp-content/uploads/SMMT_FACTS_2012_WEBv.pdf
http://www.toyota.de/Images/Car_Recycling_Brochure_EN_tcm281-210236.pdf
http://www.toyota.com/about/our_business/research_and_development/
http://www.toyota.co.uk/bv/1024downloads/Customer_%20Care.pdf

Page 19

http://www.toyota-global.com/company/vision_philosophy/toyota_production_system/
http://www.toyota-global.com/investors/ir_library/annual/pdf/2011/p35_37.pdf
http://www.toyota.com/help/contactus.html
http://www.toyota.com/hybrid/
http://www.toyota-tsusho-uk.com/qse.html
http://www.toyota-global.com/investors/ir_library/annual/pdf/2012/p02.pdf
http://www.toyota-global.com/investors/ir_library/annual/pdf/2012/p02.pdf
http://www.which.co.uk/cars/choosing-a-car/buying-a-car/buying-cheap-cars-online/buying-cars-online-survey/
http://www.which.co.uk/cars/choosing-a-car/buying-a-car/buying-cheap-cars-online/buying-cars-online-survey/

Similer Documents