Marketing Approach of Toyota

8/12/2019 Marketing Approach of Toyota

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Toyota Motor Corporation

A marketing study of the company

Presented By:Group 3

Kunal AggarwalDCP-053Mohit JainDCP-067

Nikhil SarafDCP-072

Nikhil SaxenaDCP-073

Rahul JainDCP-088


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Toyota Motor Corporation

Japanese multinational automaker Headquarters: Toyota City, Aichi, Japan

Founded by Kiichiro Toyoda in 1937

Part of Toyota Group - one of the largestconglomerates in the world

TMC

Toyota Lexus DaihatsuHino

Motors


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The Logo

Introduced in October 1989 Overlapping of the two perpendicular ovals ->

Mutually beneficial relationship and trust

between the customer and the company

Larger oval -> "global

expansion of Toyota'stechnology and unlimited

potential for the future


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Toyota in India Entered India in 1997 in a joint venture with

the Kirloskar Group

5th largest car maker in India

CarModels in

India

ManufacturedLocally

Corolla

Innova

Etios

Etios Liva

Fortuner

Camry

Imported

LandCruiserPrado

LandCruiser

Prius


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Toyotas journey in India Initially..

Rode on the success of Qualis and Innova

Allowed its competitor Hyundai to capture themarket

Did not tap the small car segment The Awakening!

Chalked up plans to capture the mass segment withthe Etios range in 2008

Introduction of the hatchback Liva in 2011

Offered diesel variants of both the products

Plans of expanding production capacity in Indian

plants by 1 Lakh units


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Product

SEDAN

1.Corolla Altis

2.Corolla Altis Sporty

3.Camry

SUV/MUV

1.Innova

2.Fortuner

3.Prado4.Land Cruiser


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Price

High quality vehicles that can be bought at areasonable price.

Various pricing strategies:-

Value-driven pricingOptional feature pricing

Promotional Pricing

Low Interest FinancingLonger Payment Terms

Differentiated Pricing


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Price List


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Promotion TOYOTA uses many different techniques of

advertising which individually target at factorslike comfort, performance,styling, power, leg

room and driving pleasure.

Brochures Other sources like Bill Boards, Display

signs,bulletins.


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Promotion(Contd.)

Sales Promotion:- trade fairs like autoexpo.

Public Relation

Personal Selling Direct Marketing


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Place


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Segmentation A global company like Toyota,

that has its business spreadall around the world, it isdifficult to remain connectedto each and every customer

from a single point ofreference.

This is why there arises aneed of bifurcating themarket into differentsegments according to similar

needs and wants of thecustomers.

We will discuss on thedemographic, psychographicand behavioral segmentationfollowed by Toyota.


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Demographic SegmentationIncome Depending upon the income slab

. Toyota targets high incomegroup with high class status fortheir luxury cars like Camry,

Land Cruiser and PradoFamily Size A large family size would look

for a bigger car and for them thetarget would be to promoteInnova or Fortuner.

Age Group A particular age group between

25 to 35 with a decent incomelevel will opt for more sportyand sturdy cars like SUVs.


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Psychographic Segmentation

Social Class

An upper middle or an upper class would like to have a

sedan or MUVs. It goes with their class and comfort levels.

Personality

People who are sporty or athletic in their persona would like

Toyota Altis Sport or a Fortuner for that matter.


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Behavioral SegmentationOccasionsFestive seasons like Diwali, Eid orChristmas attracts large number of carbuyers and discounts on finance ratesmakes the sales shoot further up.

Benefits

On the purchase of a car customers seekextra benefits like Bluetoothconnectivity, headlamps, cruise controletc.

Attitudes

A more carefree attitude in a customerwould mean that the attraction forhim/her would be for something like afortuner or an SUV. And a moreprofessional and en executive typethinking will make people buy a Corollaor a more sophisticated Sedan.


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Positioning

Toyota uses many different techniques ofadvertising as most of Print advertisement ofToyota Sadans are individually targeted atfactors like comfort, performance, styling,power, leg room and driving pleasure

The commercials mainly target the Indian youthand young executives

Toyota focused its plans on the safety and needsof todays driver

"


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Etios Q Class

Etios Q Class: A class of

car offering value for money,

not just luxury. A class of car

born from an ability to win the heart, not just beat

a record. A class of car that is engineered with

passion, not just physics. A class of car that is

designed to have character, not just style. A class ofcar that promises a lifetime of pride, not just driving

pleasure. A class of car that is well beyond normal

classification. A car in a class of its own.


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The Waku Doki campaign

Hightened anticipation & excited heart

thumping

To get ideas from the consumers to know how

they feel about Toyota Fotuner


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Conclusion:

Toyota Kirloskars: Toyota ranked 5th in India car salesyear-to-date with 49,284 deliveries - an 85.7% improvementover a first-half 2011.

Sales numbers in India Increasing and so is the size of itsinvestment in the country.

Toyotas SUVs and MPVs High Performance in India.Built a strong image with the Qualis MPV, followed by theFortuner SUV and the hugely successful Innova minivan.


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Conclusion:

Toyota : Put an indelible mark on Indian utilities segmentswith expected growth rate 15-20% in next 5 years.

Well done Marketing Home-work - Small-car customerswould prefer affordable, comfortable and spacious utility

vehicles with car-like features.

Ranks 4th in year-to-date(July 2012) sales in India, far behindMaruti Suzuki, Hyundai and Tata, accordingto WardsAutodata.


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Critics and Recommendations:

Greatest problem Toyota facing in India - Perception that

it has not lived up to its PROMISE OF QUALITY AND

DURABILITY.

INEFFECTIVE, UNFOCUSED MARKETING may be

preventing the auto maker from becoming even more of a

force in the Indian market.

Marketing Approach of Toyota

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