Toyota Australia is the leading car supplier in Australia having market show of 21% conquering it competitors. The business has grown and developed from its establishment from Japan in 1937. Toyota Australia marketing combination implemented the 4P's in creating a brandname that is renowned because of its quality, development and services. They offered a wide range of vehicles which targeted the 30's to 40's generation and wanting to break into the gen y market. There price reflected the services and quality of manufacturing the vehicles, and the also offered consumers choice to include features. They mainly promote their brand through tv, newspapers and by being a sponsor of actuality shows and sporting events. They are simply internationally recognised and also have made their symbol in the marketplace
The pursuing is a marketing mixture review and tips survey on the world's greatest car manufacturer Toyota. The article will outline the fundamental elements of Toyota's marketing mixture, and also recommendations will be produced on how to improve on each marketing blend factor of the company.
Toyota Motor Firm established in 1937, is the biggest car manufacturers on the planet, with its factories spanning over various countries. It is one of the world's most successful & most profitable car manufacturers. Australia has one of the tiniest and oldest car business in the world and has performed an important role in the success and development of Toyota over the past 50 years.
The first Toyota vehicles where imported to Australia in 1958 by a mining, engineering and services company called Thiess, who brought in 13 Landcruiser's a style of 4WD, which they used for the Snowy Mountains Hydro-electric scheme. They also initiated to sell the Landcruiser vehicles in 1959. In 1963 an assembling stock in Melbourne called Australian Motor unit Industries was founded and produce the first whole lot of Toyota corolla and corona automobiles. They started out to be commercially available in 1971 through Thiess Toyota who became commercial leaders in 1979. Then in 1988 both companies merged to produce the Toyota Electric motor Firm Australia, which started a global competiveness and founded an important export market. In 1994 the Toyota Altona Assemblage Plant is exposed and the Toyota corolla is the first car to be built in the seed.
Toyota's perspective is to be the esteemed and adored company, in the automobile industry
Their objective is to deliver high quality automotive products and services with their customers, and being positively involved with the community, lovers and environment.
Various methods were used to perform the review of Toyota's marketing combine. Among the methods used was executing a survey, to discover what the public had at heart when it came up to Toyota. These were passed out to arbitrary people moving by, and were asked to complete the study anonymously. They were basic questions that required somewhat of considering from every individual as that they understand Toyota as a brand. The survey covered a perceptual map which each individual was ask to plot where they think a certain car brand will fit.
The other methods that were used to assemble research, was using online resources like the Toyota website to get a better understanding of the business's direction and the number of products that they offered. The website was very insightful and was clear and easy to navigate, and was very interesting.
Also the Australian Bureau of Reports was used to gather information on sales and market talk about of all the major car companies compared to Toyota. This provided factual information and information that was very relevant in determining how Toyota ties in to Australia's car industry and market.
Results & Findings
. Perceptual Map of Car brands evaluations on Stability vs. Durability
The sample derive from the review shows the perceptual map of how consumers likened Toyota and other brand of autos when it came up to trustworthiness and durability. The results of where Toyota is put in the map is high on its reliability and resilience. Toyota's market strategy is to market a top quality product that lasts. This grabs the consumer's attention when their looking to buy a car that is reliable and durable.
Toyota Motor Corporation is the major vehicle manufacturer on the globe. Toyota co-operates with 51 processing companies in 26 nations, and offers its vehicles in over 170 countries under the Toyota, Lexus, Hino and Daihatsu brands.
Toyota leads the motor vehicle industry in environmental systems with the new innovative cross types technology in their Prius and Hybrid Camry vehicles. They are also looking into the development of Petrol cell technology for future vehicles.
Toyota has lately dominant the Australian car market, with a market show around 21 percent (Fig. 2) and is steadily rising with predictions that it could reach twenty five percent by 2012. Toyota Australia has remained the number one brand for retailing more vehicles than any other sole car brand in the industry for more than 14 years.
Toyota's Market Share
Toyota has dealerships across Australia that provides their selection of vehicles from vehicles, SUVs, trucks and hybrids. They established a proper know brand that individuals associated thing such as quality, sturdiness, reliability, innovation, safety, and sustainability. There brand revolves around keeping a high standard to ensure that the customer receive the finest quality product and service which keep them faithful to the brand.
Respect for people
Continuous improvement and invention.
Toyota covers a broad market sector that attracts families with its selection of sedans to other vehicles such as four steering wheel drives, sports autos, luxury vehicles and small hatchbacks and buses. The age demographic that Toyota mainly focuses on are early 30's to mid 50 12 months old consumers.
Toyota aims to focus on all possible sectors and just recently cracked in to the large car market with their Toyota Aurion sedan. This is marketed to large individuals and was demonstrated successful after taking the subject of best large car of the year in '09 2009 by Australian consumers.
Toyota's latest marketing look at was to focus on the technology y sector with a new small car called "Rukus", which Toyota calmed that it will appeal to the young consumers. "Its boxy shape and edgy metropolitan styling are anything but boring, so you'll never merge. " As detailed in the Toyota website, saying that to vary is an important factor when it comes to marketing to the gen y consumers.
They are also focusing on the environmental conscious consumers, who want to do their part in minimizing their impact on the environment by restricting CO2 emissions. Toyota developed an move forward crossbreed technology which it has applied in two of its vehicles the Prius and Camry. The cross types technology combines fuel and electricity to force the engine motor. Toyota strives to be the first choice in invention of new vehicle technology.
Toyota's Marketing Combine Elements - 4 P's
Toyota's marketing mix includes the 4 P's which make up the foundation of Toyota's overall market strategy. The 4 P's stand for;
A good product can be self sold when it benefits the consumer demand. When marketing something, it must distinguish to what a competitor is offering by features, design presentation, services, warranties, safety and environmental impact.
Toyota offers a wide range of products that meet the demands of the consumer while being different to the other car brands on the market. There product range is segmented into four areas each assembly the needs of what a consumer is looking for in a vehicle. Toyota's product market provides the following
Passenger - comprising small, middle size, and large vehicles. Aurion, Camry, Corolla, Rukus, Tarago, Yaris.
4WD & SUVs - Kluger, Landcruiser 200, Prado, Rav4
Commercial - Coaster, HiAce, HiLux, Landcruiser 70
Hybrid - Camry, Prius
Toyota offers with its products after sales services, such as Toyota Service Advantages which includes capped price servicing, specialist technicians, and genuine parts. They also offer financing at a minimal rate so that individuals are in a position to have the product sooner.
The prices establish for products performs a major role in its marketability. The charges of vehicles in Toyota depends upon what the consumer wants to include in their vehicle. They placed a basic price which then increases when a consumer wants to modify or add options such as metallic coloring, wheels, body sets or extended service warranty. This gives the consumer more choice and overall flexibility concerning how they need their vehicle to be when they purchase it.
The price of vehicles in the range can begin from $18, 990 to a far more high quality price of $80, 000 or more reliant on the make, model and add options. The costing of Toyota vehicles are higher in a few areas in comparison to its rivals, but its main feature is that they sell you a top quality product with great service and parts, that is also reliable and has the highest safety standards.
Promotion is way of communicate to consumers and grabbing their attention to make a sales. This usually includes 3 ways of effective promoting through advertising, public relations, and sales campaign.
Toyota uses various methods as it pertains to campaign, advertising through television set, radio, internet, magazines, billboards, yellow web pages, flyers, brochures and person to person. They keep reiterating that they are a car company offering quality, durability, consistency, innovation, security, and sustainability.
Toyota over the years uses catchy slogans to draw focus on their brand. Whenever a person hears "oh just what a feeling!" they directly affiliate it to the Toyota brand, and remember the television advertisement of any person jumping and freezing in middle air. This is actually the most accepted slogan in advertising that they have used since the 1980's in Australia.
Toyota teamed up with a restoration show called "The Stop" to advertise their new model Yaris. That is regarded as a smart promotional strategy as they are sponsoring a popular show; in turn this expands Toyota's reach with their audience. In addition they offer a chance to gain a new car which also makes the consumer want the merchandise more by appealing them they have a potential for winning.
Distribution or place is a very crucial aspect of the marketing mix as the key thing that must definitely be addressed is how exactly we reach the consumers. Toyota offers its vehicles through its dealerships across Australia. Sales are mainly designed to public consumers on a one on one basis with their selling personnel.
Toyota has also established distribution programs overseas with more than half the vehicle produced in Australia being export to regions like the Middle East. The availability of Toyota vehicles is becoming very easy to all or any consumers in Australia and abroad. The internet has also opened a major channel as individuals are able to examine, enquiry and buy a car without leaving their home.
Market head with 21% market share
Strong brand image
Car manufacturing leader
Quality issues (due to recalls)
Producing more environmentally friendly vehicles
Targeting the younger demographic
Rising essential oil prices
Downturn in economy
The report shown many limitations, which interrupt a few of the methods including the assortment of data and research. The follow issues where encountered while doing the report
Information - when it can to investigating Toyota's marketing strategies as a whole the information was limited and inaccessible. Interpretations needed to be made based after the limited information that was provided, and observation.
Survey - Research proved to be challenging as individuals were not interested or prepared to be a part of the survey.
Analysis - as there was lack of marketing information available about Toyota, extra resources of information had to be used that could end up being inaccurate
The advice that Toyota may connect with improve their marketing blend can be drawn after in the follow;
Product - When it comes to Toyota's product range they are simply missing key market segments that other car brands have effectively achieved, such as adding a wider selection of large automobiles for large family members, also target young consumers who can manage a Toyota vehicle they need to start with mid 20's then work their way down this bracket as young adults may not find Toyota affordable which sets then off of the brand. Toyota also needs to expand their hybrid technology to the smaller cars which has not been done yet.
Price - when it comes to affordability Toyota misses the make, though it thrives on quality and services the purchase price seems to be inflated which is further inflated whenever a consumer wants to include a certain feature. I recommend that they give you a bundle or package deal such as free insurance for yearly or free fuel to help make the purchase seem worth it.
Promotion - Toyota should start advertising on social networks if it is to focus on the young age bracket. Also making ads that will appeal to the young technology but without losing all id of Toyota. Coming up with a new catchy slogan to obtain the consumers engaged.
Offering increased sales, discounts and offers that benefit the buyer, starting a devotion program for the clients, keeping them enlightened.
Place - Toyota has positioned its personal in the main spot, to continue being truly a market leader they must improve their syndication channels such as the dealerships that are located in areas of low income earners, and retirees which decreases sales.
Drawing upon all the research and results, Toyota has built an industry which people associated quality, strength, reliability, innovation, basic safety, and sustainability. They established themself as Australia's leading car brand using their wide selection of vehicles that suit any consumer. There prices is relatively high but from the reflection of the product quality and service they provide.
Toyota has become an internationally recognised brand that thrives on client satisfaction and devotion. The further development of becoming a ecological car manufacturer, appeals to the public because they are showing their commitment in sustaining the global environment. They are really yet to build up a successful marketing strategy as it pertains to appealing to the younger consumers.
Appendix - Study Structure
Toyota Australia Survey
For each item identified below, group the number
to the right that best matches your judgment of its quality.
Use the level above to choose the quality number.
Description/Identification of Review Item
Toyota is a brandname that you can trust
Toyota is a brand that is reliable
Toyota sometimes appears as innovative
Toyota products are affordable
Toyota cares about the environment (sustainability)
The offer a large selection of vehicles
Easily recognized from other brand
is captivating, fresh and vibrant
fulfils the consumers needs
makes you want to own a vehicle
offer versatility and options
Toyota is customer focused
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