Toyota Final Report

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Spokane Community College *

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Marketing

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Apr 3, 2024

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docx

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Final Report “Toyota” Naran-Erdene Batsuld 06/12/2023

Background The foundational details of the Toyota organization: Toyota is the market leader in the world for sales of hybrid electric vehicles and is perhaps the biggest firm in favor of the widespread worldwide marketing of hybrid cars. The creator of the Toyota Motor Corporation, Kiichiro Toyoda, died in Japan on March 27, 1952, at the age of 57. In the United States, the business overtook General Motors to become the largest manufacturer worldwide in 2008. The Japanese observed the creation of Toyoda on June 11, 1894. Japan is home to the automaker Toyota. This is located in Japan. The establishment of the organization occurred on August 28, 1937. Its tasks include offering financial advice and showcasing interest in a range of business industries. It is a car manufacturer operating under its trademark. Because of their durability, dependability, quality, workmanship, and affordability, Toyota cars are utilized extensively. Toyota is the most well-known and the first automobile in Japan, ranking second in the world. Toyota is a major player in both the American and European markets. Southeast Asian nations also own a share of the global industry. Families, businesspeople, and young executives are just a few of the market categories that make up the Toyota Camry's target market, categorized as demographic. Businessmen's Association is one of the categories I have chosen. The following forms the foundation of this segmentation: 1. Income: Based on the income range, the Camry is appropriate for upper-middle-class consumers. Generally speaking, businesses in this group can purchase fancy vehicles. 2. Lifecycle stages: Businessmen have various responsibilities and must show themselves at various points in their lives. It aids in the accomplishment of their trip objectives.

3. Needs and desires: In the rapidly evolving, technologically driven world of the automobile, time is a crucial component that the customization of automobiles helps to lessen. However, if the individual buys an automobile, he may not do so frequently. He therefore always chooses the finest option given the available funds. This vehicle satisfies or strikes a balance between a person's wants and their budget. Based on the previously mentioned market segment, we discovered that the organization is employing a combined method to target the various groups of the target market. The primary segmentation is based on demographics; however, sub-segments like businesswomen, families, and businessmen are targeted based on factors like gender, income level, and life cycle demands. As a result, the corporation targets these groups using a combination of various sub-segments, including income, families, and businesswomen and men. The Toyota Corporation provides a selection of goods that use cutting-edge technology. Each of Toyota's product segments has a unique range of segmentation. As a result, the target audiences were targeted appropriately. For example, PRIUS is an eco-friendly automobile that was marketed through invitations; thus, the celebrities and actresses of Bollywood are the major emphasis. Data Collection My father is the customer we spoke with for this research; he closely matches Toyota's target market. He is a 48-year-old married man with multiple children. He loves being on the wide road and is enjoying the family vacation. Having always been truthful with Toyota, he has been a part of the Toyota brand community. He takes Toyota's "Honesty" policy seriously because he works as a stock market broker. His family did not introduce him to Toyota when he was growing up, so he developed an interest in their cars on his own. Analysis

Certain commonalities that we discovered between the interview and the Internet customer evaluations include the vehicle's control and design, the Toyota brand's heritage, and the fact that Toyotas are manufactured and driven in the United States. The phrase " comfort is everything" appeared in many comments made by our interviewee. As far as discrepancies between the interview and the mood shown in the reviews go, I couldn't find many. They were all mostly consistent, demonstrating the potency of Toyota's product advertising. When you consider its goods, Toyota has done a great job at invoking a certain set of ideals, and its constant marketing keeps all of its consumers in the loop. Overall, the opinions expressed by the two sources about Toyota were similar, and they shared many of the same fond memories of the company. Businesses may use marketing influence as a technique to set their products apart from those of their competitors. The 4p strategy (Product, Place, Price, and Promotion) is another name for the marketing mix. It entails a corporation using a variety of tactics to place its items in the market and generate demand for them. 4P Strategy For Toyota 1. Products: This includes the products offered by the company. The product line of Toyota includes Automobiles, and Lexus Automobiles which are luxury products and automobiles for the elderly and people with disabilities. The company also offers yachts, engines, spare parts, and accessories for automobiles and marine products. The company has a diverse product mix. 2. Place/Distribution: This part of the marketing mix establishes the locations where clients may purchase the company's goods. Toyota uses shops and dealerships to market its goods. Retail establishments also sell the company's accessories and replacement parts.

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