The 4ps of toyota

The 4ps of toyotaName: Prakash yogarajaSection: db1

TARGET MARKET/introductionToyota's segmentation and target market are based upon the philosophy it believes and that is, "Right Car in the Right Place" and also for the right person. Sakichi toyoda inventedtoyoda modal automatic loomin the yearof 19241937 Toyota establishedthe Toyota motr.coThroughout the years the company has been able to gain achievements and prizes and is known to produce products of great quality.

The company has also integrated a partnership with other automobile companies such as hino motors lTd. And Daihatsu motor co.ltd Now the company has branched out to many countries such as the usa,france and china.The Toyota has been achieving brand name since 1970 in Pakistan.The most famous model was corolla in 1976,1978,1986.Toyota gains benefit before the production of Toyota corolla brand which results in a larger customer loyalty.Each Toyota product provides features assuarance and upgraded versions in an attempt to achieve customer loyalty by providing distinct features.Toyota uses ergonomically design so that is promises comfort to the customers.

The 4psProduct This product is developed for family and company needs and targeted towards young adults and elderly within middle working class who can afford the products.Families require safety ,decent quality but within affordable price. Toyota provides these qualities in their car models.For company needs,usually companies require durability and consistency , so that vehicles can be used without having to replace it often to minimize cost.Quality assurance becomes Toyotas unique selling point which becomes Toyotas competitative edge. The characteristics to the target segment consumer is niche marketing, niche marketing is a subset of the market in which specific product is focusing.Assure that the engine used is safe.Quality full custom services or restoration, including engine, custom body work and paint.Timely completation of the work on their cars.Close attention to detail and commitment to quality.Coats are kept to an affordable level in the target segment.Environmental concerns to reassure that all stakeholders are ethically treated.priceToyota uses going rate pricing in which the company charges similar price to competitors for its products.Toyota corolla (gli) current price is rm 59000 and the Toyota vios (at) current price is rm 70000. thus it can deduced that Toyota charges price at lower medium compared to the car products.

placeIn Toyota, the supply change management is important in order for the company to produce the right quantity products to satisfy the demand and to maintain cost and time efficiency in the delivery of Toyotas product . Toyota makes use of a number of retailers, agents, delearship networks and retail outlets for distribution of their product. Toyota is produced most optimally for consumer use mainly in developing and developed countries. Regarding distribution. Toyota has mad use of show rooms and automobile exhibitions in the malls or special events Toyota has 4 channels which offer about 60 car models, which each channel offering 15- 25 months promotionThe aim of having promotion is to inform,remind and persuade customers about the products as well as creating a desire for customers to actually purchase the product.With the development of technology, Toyota exploits the use of e-commerce marketing to promote its products. Above the line promotion such as billboards, celebrity endorsement (famous athlete ) and tv cammercials have been used by Toyota.Below the line promotion such as public relation and also e-commerce marketing have been used.

conclusionToyota has effectively created their own marketing mix based on their great understanding of their customers. There needs to be some changes made in the marketing mix in order for Toyota to maintain their market share in the highly competitive market. Changes especially in the product and promotion in order to continue to satisfy the ever changing preferences of their customers.With possible shortcomings,the company might need to conduct extensive and continuous primary and secondary research to better understand the possible changes that might need to be made ultimately regarding pricing of their product.