Ch. 11 - Developing and Managing Products

 Hybrid car is one of the newest innovations in car market and Toyota is the pioneer and leading company in this market. Prius was New-to-the-world product when Toyota introduced it back in 1998. Their strategy was to develop a Mid-size low price car with high quality and low fuel consumption. Toyota Spent considerable amount of time, money and risk to design and develop a car that didn’t exist in the market.

Ch. 8 - Segmenting and Targeting Markets

        In 2005 Toyota decided to develop and promote a car that would appeal on a global scale to 18- to 25-year-old, a group that will dominate global car sales in 2020 therefore, they developed Scion brand. A well-designed car for the segment market that Toyota wished to reach. The Scion product concept came from the observation that many West Coast youth were attracted to low-cost cars such as the Honda Civic and the Toyota Corolla.

Ch. 15 - Marketing Communications

Toyota uses both Mass and Interpersonal advertising to communicate to its customers. However, their focus is on Mass communication to inform or persuade or remind potential customers and TV, Social media and Auto Shows are their main channel for Mass communication. Interpersonal personal communication starts once the customer enters the dealership. At this stage Toyota’s representative is involved in face-to-face communication with the potential buyer and, he is engaged in a personal selling situation.

Ch.10 - Product Concepts

Toyota's product concept

   

  

   The product consists of everything, favorable and unfavorable, that a person receives in an exchange. Toyota has been a part of the US car industry for approximately 45 years. Depending on Toyota’s target market we can classify Toyota’s models to two types of product. Majority of its models are Consumer products that are bought to satisfy an individual’s personal wants. The new models are Unsought products and it requires aggressive personal selling advertising.

Ch. 17- Personal Selling and Sales Management

Toyota's seven step personal selling process

1. Generating leads

     Approaching potential customer through cold calling emails and phone calls.

2. Qualifying leads

   

     Identifying customer’s buying power and receptivity for buying a car.

3. Approaching the customer 

    Gathering information about customer’s need for a car.

4. Developing solutions

    Presenting specific models to the customer.

5. Handling objections 

     Car’s price is the main objection and sales person must convince the client.

6. Closing the sale

    

      Finalizing the sale of the car.

     

7. Following up

     Ensuring that the customer is satisfied with his new car.

     

Ch. 16 - Advertising, Public Relations and Sales Promotion

Toyota's advertising and public relations.

Advertising:  

     

      Toyota uses different methods of product advertising including Pioneering advertising. Using this method of advertising, Toyota introduces its new models to the market and tries to stimulate the consumers to purchase a new model.

Publicity:

     

      Toyota assist communities by supporting organizations focused on education, entertainment and safety for the people. For example, Toyota partners with athletes and provides sponsorship to them and creates a brand image for itself. 

Ch. 14 - Retailing

Toyota's Dealership Store    

     

      

 If the only experience you have interacting with the Toyota dealer is online, you should make your first visit. I recently visited Toyota’s dealership in Manhattan on 11^th Ave and 47^th street. I was impressed by the atmosphere of the store and my interaction with employees. This store is an authorized franchise which sells a large selection of new and certified used vehicles. They also have repair department which provides service to all Toyota models.   

Ch. 6 - Consumer Decision Making

Toyota Company

      

   

   

      The attitude of many consumers towards purchasing a car has changed. Nowadays consumers look for a car that is environment friendly as well as fuel efficient. They also want a car that has high-performance rate and high safety rate. And Toyota has been a pioneer in recognizing and adapting to changing customer’s attitude. For instance, the new Toyota Camry has a generous leg-room, comfortable ride, good performance and competitive fuel economy.

Ch. 5 - Developing a Global Vision

Is Walmart good for America?

Yes, I believe Walmart is good for America because,

1.     The company is helping consumers get more for their money. Walmart saves a typical American family of four about $2500 a year. That’s about what a family of four gets from the government in food stamps.

2.     Walmart is stimulating its suppliers to achieve greater economies in manufacturing.

3.     Walmart runs the largest corporate cash-giving foundation in America. In 2004 Wal-Mart donated over $170 million.

Ch. 4 - The Marketing Environment

Toyota’s Marketing Environment  

Toyota's Target Market

                             

1.Primary target: Men (53%) Age 35-54

. Likely to have a post-secondary education.

. Full time employed.

. Likely own a house/Apt.

. Annual income of $60.000+

. Married with children

     2. Secondary target market: Women (47%) age 29-45

. Likely to have a post-secondary education.

. Full time/part time employed.

. Could own a house or rental.

. Annual income of $50.000+

. Single or married.

Ch.18 - Social Media and Marketing

Ch. 2 - Strategic Planning for Competitive Advantage

Toyota’s SWOT analysis

Strengths   

     

1.   Strong focus on research and development 

2.   The most valuable automotive brand in the world

3.   Competence in hybrid vehicle production      

Weaknesses

1.   Lack of competence in autonomous vehicles

2.   Negative publicity due to large vehicle recalls

Opportunities

1.   Demand for autonomous vehicles.

2.   Timing and frequency of new model releases.          

Threats

1.    The automotive industry is subject to various governmental regulations

2.    Increasing competition in the automotive market

Ch. 1 - Overview of Marketing

 Toyota Camry's history and mission statement. 

  Toyota Motor Corporation began in 1933 as a division of the Toyota Automatic Loom Works, Ltd. Toyota introduced the Camry in 1983 with two body styles: a sedan and a hatchback. The first-generation Camry had 2 engine choices. A 1.8-liter or a 2.0-liter gas five-speed manual or a four-speed automatic transmission.

 Toyota's mission statement:

        "To attract and attain customers with high-valued products and services and the most satisfying ownership experience in America."