Toyota Marketing Mix

The marketing mix is the set of controllable, tactical marketing tools that a company uses to produce a desired response from its target market. It consists of everything that

Toyota Motor Corporation’s marketing mix (4Ps) reflects the firm’s strategies for interacting with its target market. As one of the leading firms in the global automotive industry, Toyota’s target market is diverse in terms of consumer preferences and regional and local market conditions. As such, the company’s marketing mix is tailored to address these variations. Founded in 1937, Toyota has grown from a local business to a leading global player in the automotive industry. The firm now has operations in all regional markets, except Mongolia and some parts of the Middle East and Africa. Toyota’s continuing global success highlights the firm’s effectiveness in developing and implementing its marketing mix.

Marketing mix -The marketing mix is commonly used marketing term. Its elements are basic, strategic components of a marketing plan. Which is mentioned as the four p’s, which include Price, place, product and promotion. More recently 3 more P’S have been added to the marketing mix which are people, process and physical evidence this is known as the extended marketing mix.

According to the text, Principles of Marketing, marketing mix is made up of four things: product, price, place and promotion. Further, there are four Cs that go along with these four Ps: consumer solution, customer cost, convenience and communication. (Kotler) Building lasting lifetime relationships is what every company desires. To create that, customer satisfaction must be at the top of the

A marketing mix consists of Product, Place, Price and Promotion. It is fundamental to understand these four elements for developing an effective marketing strategy.

Marketing for the Scion and Cadillac is similar by adding addons to the car. With a purchase of a new car, you are able to add specific features that do not come with the car. Both the Scion and Cadillac appeal to a specific lifestyle and like to arrive in fashion at social gathering or party (Solomon, 2011).

An effective 'Marketing Mix ' including all 7 is a way of identifying a business’s achievements of marketing objectives, meeting customer needs, is balanced and consistent, creates a competitive advantage and matches corporate resources.

Marketing mix is the set of controllable tactical marketing tools which that the firm blends to produce the response it wants in the target market.

When Scion was first released to the market, their vehicles sold quickly and impressed buyers. Toyota opened Scion with one goal in mind; to design and engineer cars that would appeal to the younger demographic. The first Scions, the boxy xB hatchback and compact xA, launched in New York and California in 2003. The boxy, toaster-looking xB was a fairly original vehicle with a unique Japanese flare to it. Around that time, cars were being designed with smaller windows and lower sitting roof lines; none of which the xB had. Because of this, the public wasn’t sure how to respond at first. Nonetheless, this unique 4-door car provided the buyer with top safety and numerous modification options. On the other hand was the less boxy xA. The xA was quite literally, a rebadged Toyota that brought nothing to the table but the extreme basics. This vehicle was perfect for someone that didn’t care about looks or technology. The xA provided a

As the United States unite in the global effort to monitor the use and waste of energy, fuel efficient or hybrid cars such as the Toyota Prius has dominated the market over the SUV’s who once adored every American driveway. With much doubt, in 2004, the Prius has become the leading selling vehicle in America. The sleek design has caught the eye and pockets of many Americans who prefer the “gas sipper” over the “gas guzzler.” (Kotler & Armstrong, Principles of Marketing, 2010)

Promotion can get more profit and increase the product value. In order to motivate consumers to purchase Toyota product, Toyota use the promotion method to inform, persuades and remind potential customer, stakeholders and the broader public respond on their product. Toyota also successfully integrates its many communicates channels in the process of development and sustain brand identity and equity. Those are the strategies apply by Toyota in two different countries which are Malaysia and US:

Marketing mix is nothing but a critical mix of right amount of efforts and mechanism that is made up of the product that an organisation offers, market segmentation and the marketing strategy, selling the product at the right price and to the right customers through right people.

Thus far, our product strategy of successively expanding our model range, from smaller cars to luxury sedans, full-sized pickup trucks, large SUVs, and crossover vehicles has proved successful. In a bid to further extend our customer base, we have established the Scion marketing group, which will develop a range of vehicles targeting young, first-time car buyers. With respect to environmental issues, Toyota’s hybrid automobile Prius, which was introduced to the North American market in 2000, has been extremely well received and development is under way to launch our next-generation hybrid car. The Company intends to

Marketing mix refers to the enterprise for their target market needs, control various marketing factors (product, price, place and promotion) to optimize the combination and comprehensive utilization, in order to accomplish better economic and social benefits (Chai, 2009, p.4). Place and product will be attached more importance in this section.

Marketing mix is one of the basic and the very important part of marketing plan. It includes all the elements that are important for an organization from manufacturing to sale of the product. It can be considered as the set of marketing tools that blends together to generate a marketing response in the market. Every organization uses this tool to make its marketing plan. Primarily it consists of 4P’s, but now it is extended to 7P’s of marketing. (Jain, 2013)