They are concern with the customer demand, its likeness and requirements. Huge order; Toyota has to face a huge order of cars as they set a bench mark of total sales and more products are ready in process.
They though t that it is market mechanism and customers who determine selling price of product. Toyota uses a combination of the following pricing strategies: The new Prius made Hybrid familiar to the common consumers, the target of enlarging the market has reached.
Now the newest model is Prius model. GE and Ford were followers later. And due to oil crisis, Americans changed the need structure for cars, converting their needs to oil saving cars. Bhasin, Marketing Strategy of Toyota — Toyota Marketing Strategy, Different plans are used by Toyota Company for making its marketing strategies more effective and efficient.
Toyota targets the upper middle high income group of people and their family size.
The company was right. With this proper budgeting system must be adopted by company to making all the production preparation in advance according to demand of market and requirement of customers.
As for different companies, these factors have various levels of influence. Toyota has already been the top producer of the hybrid cars and although the other producers are providing the similar products, their technological ability is still far behind Toyota.
And Prius is just the combination of the concepts of environment and technology. There arise some competitors in the market, such as Honda, Ford, GM.
With their heavy investment and innovative designs in promotional activitiesthey capture the attention of customers in all over the world. And the experts predicted that such price rising is not temporary but permanent.
Toyota is still the market leader because of its more mature technology than other automakers and the reputation it made and because Toyota is the first to come into this niche market.
Proper information and relevant data must be collected which measure whether the information is correct or not and relevant according to requirement of company. InToyota motor was developed in Japan and inintroduce as Marketing toyota prius product of UK based.
In this strategy, company trying to increase its market share continuously and improve its customer growth. Promoting strategies of marketing mix; Toyota uses various promotional strategies which help in increase the sales volume. Toyota has almost 51 units of manufacturing and its innovative environmental and hybrid technologies made it leader of automobile industry.
These are quality improve approach and customer first approach and in last after sale service approach. Compared withthe intermediaries are more familiar with the product and can sale it more efficiently. And Prius is the brand or car that Toyota has made a significant success in American market.
It is a hybrid vehicle.During the introduction and sale of the Toyota Prius, four major sectors of the microenvironment attributed to its success: The company, suppliers, marketing intermediaries, and publics.
Toyota’s customer driven marketing strategy is largely responsible for its success in the hybrid car market. Toyota Prius Marketing Strategies focused on environmental protection, quality, reliable brand image all resulted in building a highly loyal customer base. This paper assert that Toyota succeeded by marketing the Prius on multiple factors including the potential for gas savings, appeal to those who desire the latest technology, crossing into multiple market segments, and keeping the car practical.
TORRANCE, Calif., January 13, –Toyota Motor Sales (TMS), U.S.A., Inc. along with its advertising agency Saatchi & Saatchi LA announced the marketing campaign for the Prius family of vehicles.
Toyota Prius Hybrid.
The presentation for marketing case study. Toyota Motor Corporation’s marketing mix or 4Ps (product, place, promotion, price) is examined in this case study and company analysis on market strategies.Download