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Faced with a stiff competition from the two companies, Toyota must adopt either one of these two, or perhaps both, strategies in order to keep up with the 'numbers' game in sales and marketing of Toyota cars.
One of the primary bases of Toyota for using the boomer's babies are (1) the consumer market's capability to buy or be enticed to buy a car and (2) dependence on its loyal customers over the years. The first rationale or basis illustrates the nature of consumers who are car-buyers: since it is the adult-middle-aged customers who have disposable incomes big or sufficient enough to buy a car, then they are the most logical target market that Toyota, or any car company for that matter, should center on. The second basis works on the assumption that Toyota has a strong following from its former customers -- customers who were satisfied in the quality, design, and make of Toyota cars, they will also be, most likely, the people who will buy Toyota cars in the future. Thus, Toyota patrons must always be kept up-to-date with the latest product releases, car exhibits, and other activities of the company. Its decision to widen its target market starting in the year 1999 (the year the article was published) demonstrates how the notion of possession of disposable incomes have also been extended...
Its weak points, however, is its promotional strategy, which is still vague and ineffective in informing the people about the company's target audience (in introducing the said promotional strategy).
Toyota's current market standing is satisfactory, having surpassed the challenge of bringing in an "overhaul" change of the company's product and brand image. At present, the company has successfully re-designed its popular cars such as the ECHO, RAV4, Camry, and Corolla lines in order to clearly delineate its target market (ECHO and RAV4 targets young adults, Corolla in-between the 20s-50s bracket, and Camry, the higher end of the bracket). As a result of this effective program of re-designing its car models, Toyota is now able to create promotional strategies that target the each segment of age bracket 20s-50s (its target market). It also helps that the company is able to maintain its excellent pricing strategy and financial payment scheme.
One of the primary bases of Toyota for using the boomer's babies are (1) the consumer market's capability to buy or be enticed to buy a car and (2) dependence on its loyal customers over the years. The first rationale or basis illustrates the nature of consumers who are car-buyers: since it is the adult-middle-aged customers who have disposable incomes big or sufficient enough to buy a car, then they are the most logical target market that Toyota, or any car company for that matter, should center on. The second basis works on the assumption that Toyota has a strong following from its former customers -- customers who were satisfied in the quality, design, and make of Toyota cars, they will also be, most likely, the people who will buy Toyota cars in the future. Thus, Toyota patrons must always be kept up-to-date with the latest product releases, car exhibits, and other activities of the company. Its decision to widen its target market starting in the year 1999 (the year the article was published) demonstrates how the notion of possession of disposable incomes have also been extended to include young adult workers who are also financially capable of buying Toyota cars and products.
Over-all assessment of Toyota's marketing strategy is strategy, especially since it fares better in terms of pricing and product quality compared to its competitors, whether be they an Asian, American, or European car brands. Its weak points, however, is its promotional strategy, which is still vague and ineffective in informing the people about the company's target audience (in introducing the said promotional strategy).
Toyota's current market standing is satisfactory, having surpassed the challenge of bringing in an "overhaul" change of the company's product and brand image. At present, the company has successfully re-designed its popular cars such as the ECHO, RAV4, Camry, and Corolla lines in order to clearly delineate its target market (ECHO and RAV4 targets young adults, Corolla in-between the 20s-50s bracket, and Camry, the higher end of the bracket). As a result of this effective program of re-designing its car models, Toyota is now able to create promotional strategies that target the each segment of age bracket 20s-50s (its target market). It also helps that the company is able to maintain its excellent pricing strategy and financial payment scheme.
Such a program would not only boost consumer confidence: if drivers did not have any problems after the repairs, this would also repair the public's trust in the Toyota brand. Concern 2: Mistrust of flagship electric car model the Prius Perhaps even more damaging have been the problems with Toyota's flagship electric car model, the Prius. The Prius has also been accused of unstoppable, unintended acceleration. Toyota had become synonymous with
This is why those service providers to other businesses often stress customer results in the core industries they compete in. These customer successes show the depth of expertise in a given area. These success stories make services tangible to customers. Marketing strategies used to support this approach include the widespread use of video and interactive online materials to show the problems solved and results delivered with a service. The
Marketing Plan for Swagster Swagster is a hybrid motorcycle cruiser that utilizes very little gas compared to the gas driven motorcycles. The cost of gas continues to increase, in most states in the United States in January 2011, the cost of gas is over $3.00 per gallon. According to the U.S. Energy Information (2011) the current cost for gas is about $90.30 per gallon which is high and it will continues
The products were soon withdrawn from the market as they were a complete failure as customers found it inconvenient to have to constantly recharge the electric vehicles given the existence of such a few recharging locations. Also, the consumers were not ready to change their driving habits so drastically and in such a short period of time. Green marketing myopia can also appear when green products are not able to
When speaking about long-term plans, that is, plans which have an applicability of about 5 years, Toyota Motor Company tries to consider new opportunities such as to expand the international division, to diversify its product line, to constantly improve their technology and to become a friendly environmental company. Moreover, when designing these long-term projects the company focuses also on the competitors and try to keep itself on top of them
The approach Sony continues to take is one of concentrating on continual process improvement to become more agile and resilient in the face of environmental factors (Olenick, 2010) while at the same time seeking to comply with national requirements for sustainability and green initiatives including supply chain compliance (Svensson, 2009). Legal Factors -- Sony has a culture that embraces learning as a virtue, and continually strives to gain insights from