Marketing Strategies Adopted in the Japanese Automotive Industry

6872 Words Jul 2nd, 2013 28 Pages
Marketing Strategies Adopted in the
Japanese Automotive Industry

Table of Contents 1.0 Introduction 1 2.0 The Marketing Mix and 4Ps 2 2.1 Product 3 2.2 Price 4 2.3 Promotion 5 2.4 Place 6 3.0 Green Vehicles 6 4.0 Toyota Marketing Strategy 7 4.1 About Toyota 7 4.2 Case Study - Toyota Prius 8 4.2.1 Product 8 4.2.2 Price 10 4.2.3 Place 12 4.2.4 Promotion 13 5.0 Honda Marketing Strategy 15 5.1 About Honda 15 5.2.1 Case Study – Honda Civic GX 16 5.2.2 Product 16 5.2.2 Price 18 5.2.3 Place 19 5.2.4 Promotion 20 6.0 Nissan Marketing Strategy 22 6.1 About Nissan 22 6.2 Case Study – Nissan Leaf 22 6.2.1 Product 22 6.2.2 Price 24 6.2.3 Place 25 7.0 Conclusion 27
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It is a tangible good or an intangible service. Intangible products are service based like the tourism industry, hotel industry, and the financial industry. Tangible products are those that have an independent physical existence, such as motor cars and razors. Every product is subjected to a life-cycle including a growth phase followed by a maturity phase and finally an eventual period as sales falls. Marketers must do careful research on how long the life cycle of the product they are marketing is likely to be and focus on different challenges that arise as the product moves through each stage.[6] The product decisions that need to be made include: 1. 2. Brand name 3. Functionality 4. Styling 5. Quality 6. Safety 7. Packaging 8. Repairs and support 9. Warranty 10. Accessories and services

2.2 Price The price is the amount a customer pays for the product. the prices is very important as it determines the company 's profit and hence, survival. Adjusting the prices has a profound impact on the marketing strategy, and depending on the price elasticity of the product, often it will affect the demand and sales as well. The marketer should set a price that complements the other elements of the marketing mix.