Market Segmentation Toyota Consumer Buying Decision Process Hilux Marketing Essay

Market Segmentation of Toyota and Consumer Buying Decision Process for Hilux

Toyota Motor Organization (TMC) is a greatly recognised car company in Malaysia and around the world. Presently, Toyota is the top carmaker on the planet, beating their closest competitors, Basic Motors in both production quantities and sales. Despite the fact that the major markets of Toyota are in the United States and Japan, they exert believe it or not impact in the Malaysian market, holding a large portion of market share. Why don't we now check out how Toyota segments their marketplace in Malaysia.

The reason for market segmentation is to split the overall market needs into smaller defined organizations. Toyota has come up with a variety of models to tend to the needs of Malaysians. The models released in Malaysia are Camry, Vios, Hilux, Avanza, Innova and Fortuner merely to name a few. These different models aim to record different levels of income of consumers. Among the segments that Toyota aspires to appeal to is the center to high income getting group. Toyota provides its customers with a broad range of prices for both middle class and high income earners. Middle class customers are able to spend the money for lower range Avanza and Vios which are within the RM70, 000 range while high income earners can go for a lot more luxurious Camry and Fortuner of which can cost within the range of RM140, 000 to RM170, 000.

Aside from income, Toyota also focuses on consumers who live a luxurious lifestyle. Lexus is an extravagance car department under Toyota. Lexus models itself aside from its competition by offering high quality luxury vehicles at lower prices. Lexus models that may be found in Malaysia are the LS 460, IS 250, GS 300 and RX350. Rather than the antique Mercedes Benz and BMW, motorists is now able to feel as luxurious and stylish driving a car a Lexus car which cost less. A more affordable Lexus car also allows less earning motorists who always imagined driving an extravagance car to realize their dream, attracting more customers.

Another segment that Toyota targets is geographic needs. Malaysia is a tropical country with lush rainforests and there's a need for reliable four steering wheel drives to traverse them. Therefore, Toyota has designed several 4X4 vehicles meant for off road trips. The vehicles currently bought from Malaysia will be the Fortuner, Hilux and Dash. These four wheel drives work well on tough landscape and has shown to be durable under the most detrimental of conditions, thus satisfying the needs of consumers as well as recording market show.

Next, we will be analyzing the buying decision procedure for consumers for a renowned Toyota product, the Hilux. Buying decision process is a series of steps that a buyer would experience as he/she will buy a product. This process mainly consists of awareness of unsatisfied need, a search for information, assessing alternatives, buying the selected product and lastly evaluating the merchandise after purchase.

A drivers who frequently drives off road on rough surfaces knows that it's difficult to acquire a trusted 4X4 that would take them through the steepest of slopes and thick pools of dirt. Jungle four wheel drive expeditions also frequently find themselves looking for a powerful machine to draw other four steering wheel drives out of an sticky situation. This results in awareness to get the method for these problems and births an unsatisfied need.

The next step for the individuals is to consider the answer to their need. Information is vital to the decision buying process as it gives buyers understanding on the merchandise and influences their decision to buy it. Nowadays, customers can find information easily through the internet and on brochures which are openly available. These options also provide very detailed technical specs to the product they are looking for. Otherwise, clients can also visit Toyota showrooms to truly have a firsthand look and experience of the product, together with specific details from a salesperson.

In the same way, purchasers would search and compare the many alternatives open to them. For the Hilux, there are a number of similar four wheel drives that potential buyers would consider. Included in this are Mitsubishi Triton, Nissan Navara and Isuzu D-Max. Each one of these alternatives promote similar design and function but all have their own specifications where will critically influence the buyers decision.

After considering all the alternatives available to the buyer, he/she will finally choose the specific product, the Toyota Hilux. The purchasing process starts with the customer heading to a Toyota showroom to discuss terms with the salesperson. The buyer then settles the down payment and decides on the setting of payment. The newest Hilux will then be delivered to the customer.

Finally, the buyer receives the automobile and fulfils his/her need. The customer then starts to operate a vehicle the Hilux and evaluates its performance. Following that, he/she will gauge the satisfaction of travelling the four steering wheel drive and whether it offers achieved the necessity that it was purchased for. If the buyer is content with the merchandise, the cycle begins again or he/she will add it to his/her friends.

In finish, Toyota has recognized their marketplace in more detail through market segmentation. This has helped them market their products more efficiently and made them the most notable car maker on earth. The buying decision process in addition has helped to comprehend consumers and their behavior better in order to stay ahead of competitors.

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