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Toyota Marketing Strategy

Essay by   •  December 23, 2010  •  Essay  •  479 Words (2 Pages)  •  2,624 Views

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This force along with demographics would set a base for what customers are interested in. Toyota's strategy hit society in what could probably be the best time. Gas prices are high and people drive vehicles that are not economical. Society is in the need of change and Toyota was offering a solution.

3. Evaluate Toyota's marketing strategy so far. What has Toyota done well? How might it improve its strategy?

In my opinion, and based on the case, Toyota brought a new product with a fairly strong marketing strategy. The only problem that I find is that the vehicle's target range is limited. The first generation of Prius was very simple and basic. It did not offer all those benefits and gadgets that come standard in many vehicles these days. On the other hand, the second generation brought a lot of changes, specifically technological advances. It also included a bit more of luxury and better style. This time Toyota, in my opinion, was carrying a more power marketing strategy pointed to more types of consumers. I think that Toyota is heading into the right direction in regards of its marketing strategies. Also, the Prius seems to be improving greatly in technological advances. Not only it running more miles per gallon but it also full of gadgets that make people interested about it. It is no myth that Toyota has leaded the automotive market with several of their vehicles. The whole Prius team including its marketing group is doing a great job when it comes to developing and advertising.

4. GM's marketing director for new ventures, Ken Stewart, says "if you want to get a lot of hybrids on the road, you put them in vehicles that people are buying now." This seems to summarize the U.S. auto makers' approach to hybrids. Would you agree with Mr. Stewart? Why or why not?

I believe I would agree with Mr. Stewart. It is a fact that people are buying cars because they like them or need them, and not necessarily because of gas efficiency. Now, if you add the gas efficiency factor it may motivate the consumers. In my opinion, the Prius is one of the ugliest cars that I have ever seen. Would I buy it based on the fact that will save me on gas? I wouldn't buy it, not only it's ugly, but also it does not serve to my purposes and tastes. Now, if we were talking about an SUV such as the GM Tahoe, I would probably be interested. Not only serves as an SUV, it also looks good and helps me save gas and to contribute with the environment. The Prius, although very economic on gas, may not be the best car for a family of six. Therefore, having other options that are based on the same concept could be very beneficial for Toyota, or any automaker out there.

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