Establishing and adjusting the marketing mix

Establishing and adjusting the merchandiseing mixToyota Australia is the leading political machine manufacturer in Australia having a market sh atomic takings 18 of 21% beating it competitors. The participation has grown and unquestionable from its establishment from Japan in 1937. Toyota Australia merchandise mix followed the 4Ps in establishing a fool that is renowned for its calibre, innovation and serves. They slayered a wide range of vehicles which guideed the 30s to 40s get on with w all bracket and attempting to break into the gen y market. There harm reflected the services and character reference of manufacturing the vehicles, and the as well offered consumers choice to add features. They mainly promote their label finished television, newspapers and by universe a sponsor of reality shows and sporting events. They be internationally recognised and have made their mark in the marketplaceIntroductionScopeThe following is a marketing mix freshen up and recom mendations report on the worlds with child(p)st railcar manufacturer Toyota. The report testament adumb straddle the fundamental elements of Toyotas marketing mix, and also recommendations will be made on how to improve on each(prenominal) marketing mix element of the organisation. background signalToyota Motor heap completed in 1937, is the biggest car manufacturers in the world, with its factories spanning over assorted countries. It is one of the worlds most successful and most profitable car manufacturers. Australia has one of the smallest and oldest car industries in the world and has played an important lineament in the success and development of Toyota over the past 50 yrs.The run shorting signal Toyota vehicles where imported to Australia in 1958 by a mining, construction and services comp whatever called Thiess, who imported 13 Landcruisers a model of 4WD, which they used for the Snowy Mountains Hydro-electric scheme. They also began to sell the Landcruiser veh icles in 1959. In 1963 an assembling factory in Melbourne called Australian Motor Industries was established and produce the low gear lot of Toyota corolla and corona cars. They began to be commercially available in 1971 through Thiess Toyota who became commercial leaders in 1979. Then in 1988 the dickens companies merged to create the Toyota Motor Corporation Australia, which began a global competiveness and established an important export market. In 1994 the Toyota Altona multitude Plant is opened and the Toyota corolla is the first car to be built in the plant.VisionToyotas vision is to become the most respected and admired comp any(prenominal), in the car manufactureMissionTheir mission is to deliver naughty grapheme ego-propelled intersection points and services to their customers, and being actively involved with the community, partners and environment.Methodology several(a) methods were used to conduct the review of Toyotas marketing mix. One of the methods used was conducting a survey, to find bulge what the public had in mind when it came to Toyota. These were handed out to random people passing by, and were asked to complete the survey anonymously. They were basic questions that require a bit of thinking from each individual as how they behold Toyota as a place. The survey contained a perceptual map which each person was ask to plot where they think a certain car brand fits.The some other methods that were used to gather research, was using online resources much(prenominal) as the Toyota website to get a better understanding of the companys direction and the range of products that they offered. The website was really insightful and was clear and easy to navigate, and was very informative.Also the Australian function of Statistics was used to gather knowledge on sales and market contri besidesion of all the major car companies in comparison to Toyota. This provided factual statistics and reading that was very relevant in determin ing how Toyota fits in to Australias car industry and market.Results FindingsUntitled.jpg. Perceptual Map of Car brands comparisons on Reliability vs. DurabilityThe prove result from the survey shows the perceptual map of how consumers comp ard Toyota and other brand of cars when it came to dependableness and durability. The outcome of where Toyota is placed in the map is very high on its reliability and durability. Toyotas market strategy is to sell a top whole tone product that lasts. This grabs the consumers attention when their looking to buy a car that is reliable and durable.MarketplaceToyota Motor Corporation is the largest vehicle manufacturer in the world. Toyota co-operates with 51 manufacturing companies in 26 nations, and sells its vehicles in over 170 countries under the Toyota, Lexus, Hino and Daihatsu brands.Toyota leads the automotive industry in environmental technologies with their new mod hybrid engine room in their Prius and Hybrid Camry vehicles. They arg on also looking into the development of open fire cell technology for future vehicles.Toyota has in recent years sovereign the Australian car market, with a market sh be around 21 part (Fig.2) and is steadily rising with predictions that it might reach 25 percent by 2012. Toyota Australia has remained the number one brand for selling much vehicles than any other single car brand in the industry for more than 14 years.Toyotas Market ShareToyota has dealerships across Australia that sells their range of vehicles from cars, SUVs, trucks and hybrids. They have established a well know brand that people come tod thing such(prenominal)(prenominal) as quality, durability, reliability, innovation, safety, and sustainability. There brand revolves around keeping a high standard to ensure that the customer receive the highest quality product and service which keep them loyal to the brand.Toyotas four core valuesCustomer firstRespect for peopleInternational focusContinuous improvement and i nnovation. butt end AudienceToyota covers a wide market sector that caters for families with its range of sedans to other vehicles such as four wheel drives, sports cars, luxury vehicles and small hatchbacks and buses. The shape up demographic that Toyota mainly quarrys are early 30s to mid 50 year old consumers.Toyota aims to target all possible sectors and just recently change into the large car market with their Toyota Aurion sedan. This was marketed to large families and was proved successful later on taking the title of best large car of the year in 2009 by Australian consumers.Toyotas latest marketing attempt was to target the multiplication y sector with a new small car called Rukus, which Toyota calmed that it will appeal to the unripened consumers. Its boxy shape and edgy urban styling are anything but boring, so youll never blend in. As described in the Toyota website, claiming that to be polar is an important factor when it comes to marketing to the gen y consumers .They are also targeting the environmental conscious consumers, who demand to do their part in reducing their impact on the environment by limiting carbon dioxide emissions. Toyota developed an advance hybrid technology which it has implemented in two of its vehicles the Prius and Camry. The hybrid technology combines fuel and electricity to power the engine. Toyota strives to become the leader in innovation of new vehicle technologies.Toyotas Marketing Mix Elements 4 PsToyotas marketing mix consists of the 4 Ps which make up the basis of Toyotas overall market strategy. The 4 Ps stand for harvestPrice packagingPlaceProductA good product loafer be self marketed when it goods the consumer demand. When marketing a product, it mustiness secernate to what a competitor is offering by features, design packaging, services, warranties, safety and environmental impact.Toyota offers a wide range of products that meet the demands of the consumer while being different to the other car br ands on the market. There product range is segmental into four areas each meeting the needs of what a consumer is looking for in a vehicle. Toyotas product market contains the followingPassenger consisting of small, mid size, and large cars. Aurion, Camry, Corolla, Rukus, Tarago, Yaris.4WD SUVs Kluger, Landcruiser 200, Prado, Rav4Commercial Coaster, HiAce, HiLux, Landcruiser 70Hybrid Camry, PriusToyota offers with its products after sales services, such as Toyota Service Advantage which includes capped monetary value servicing, specialist technicians, and authorized parts. They also offer financing at a low rate so that consumers are able to have the product sooner.PriceThe prices tick off for products plays a major role in its marketability. The determine of vehicles in Toyota depends on what the consumer wants to include in their vehicle. They set a base price which whence increases if a consumer wants to modify or add options such as all-metal paint, wheels, body kits or extended service warranty. This gives the consumer more choice and tractableness as to how they want their vehicle to be when they bargain for it.The price of vehicles in the range can start from $18,990 to a more premium price of $80,000 or more dependent on the make, model and add options. The pricing of Toyota vehicles are higher in some areas in comparison to its competitors, but its main selling point is that they sell you a top quality product with great service and parts, that is also reliable and has the highest safety standards.PromotionPromotion is way of communicate to consumers and grabbing their attention to make a sale. This commonly involves three ways of effective promoting through advertising, public relations, and sales promotion.Toyota uses various methods when it comes to promotion, advertising through television, radio, internet, newspapers, billboards, yellow pages, flyers, brochures and word of mouth. They keep reiterating that they are a car company th at provide quality, durability, reliability, innovation, safety, and sustainability.Toyota over the years uses catchy slogans to deplume attention to their brand. When a person hears oh what a feeling they directly associate it to the Toyota brand, and recall the television ad of a person jumping and halt in mid air. This is the most recognised slogan in advertising which they have used since the 1980s in Australia.Toyota teamed up with a renovation show called The Block in promoting their new model Yaris. This is seen as a smart promotional strategy as they are sponsoring a prevalent show in turn this extends Toyotas reach to their audience. They also offer a peril to win a new car which also makes the consumer want the product more by enticing them that they have a chance of winning.PlaceDistribution or place is a very polar element of the marketing mix as the main thing that must be addressed is how we reach the consumers. Toyota sells its vehicles through its dealerships a cross Australia. Sales are mainly made to public consumers on a one on one basis with their selling staff.Toyota has also established distribution impart overseas with more than half the vehicle manufactured in Australia being export to regions such as the Middle East. The availability of Toyota vehicles has become very easy to all consumers in Australia and overseas. The internet has also opened a major channel as consumers are able to inspect, enquiry and purchase a vehicle without leaving their home.SWOT abstractStrength flunkMarket leader with 21% market shareStrong brand imageCustomer loyaltyCar manufacturing leaderQuality issues (due to recalls) payoff capacityPricingOpportunitiesThreatsProducing more environmentally friendly vehiclesTargeting the younger demographicProduct recallsRising oil pricesProduction costsDownturn in economyLimitationsThe report presented many limitations, which interrupt some of the methods such as the collection of data and research. The follow issu es where faced while doing the report teaching when it can to investigating Toyotas marketing strategies as a whole the information was limited and inaccessible. Interpretations had to be made based upon the limited information that was provided, and observation. perspective positions proved to be a challenge as people were non interested or willing to take part in the survey.Analysis as there was lack of marketing information available intimately Toyota, secondary sources of information had to be used which could prove to be impreciseRecommendationsThe recommendations that Toyota may apply to improve their marketing mix can be drawn upon in the followProduct When it comes to Toyotas product range they are missing key markets that other car brands have successfully achieved, such as introducing a wider range of large cars for large families, also target young consumers who are able to afford a Toyota vehicle they should start with mid 20s then work their way down the age bra cket as teens might not find Toyota affordable which puts then off the brand. Toyota should also expand their hybrid technology to the smaller cars which has not been through with(p) yet.Price when it comes to affordability Toyota misses the mark, even though it thrives on quality and services the price waits to be inflated and is further inflated when a consumer wants to add a certain feature. I recommend that they offer a bundle or package deal such as free insurance for a year or free fuel to make the purchase seem worth it.Promotion Toyota should start advertising on social networks if it is to target the young age bracket. Also making ads that will appeal to the young generation but without losing all identity of Toyota. Coming up with a new catchy slogan to get the consumers involved.Offering more sales, discounts and offers that benefit the consumer, starting a loyalty program for the customers, keeping them informed.Place Toyota has positioned its self in the number one spot, to continue being a market leader they must improve their distribution channels such as the dealerships which are located in areas of low income earners, and retirees which decreases sales.ConclusionDrawing upon all the research and results, Toyota has built an industry which people associated quality, durability, reliability, innovation, safety, and sustainability. They have established themself as Australias leading car brand with their wide range of vehicles that suit any consumer. There pricing is somewhat high but its a mirror image of the quality and service they provide.Toyota has become an internationally recognised brand that thrives on customer satisfaction and loyalty. The further development of becoming a sustainable car manufacturer, appeals to the public as they are showing their commitment in sustaining the global environment. They are yet to develop a successful marketing strategy when it comes to appealing to the younger consumers.Appendix Survey StructureTo yota Australia SurveyAgeGenderFor each item identified below, circle the numberto the right that best fits your judgment of its quality.Use the scale above to claim the quality number.Description/Identification of Survey ItemScalepowerfully AgreeNeitherStrongly DisagreeToyota is a brand that you can trust1234Toyota is a brand that is reliable1234Toyota is seen as innovative1234Toyota products are affordable1234Toyota cares about the environment (sustainability)1234The offer a large range of vehicles1234Easily identified from other brand1234is appealing, fresh and vibrant1234fulfils the consumers needs1234makes you want to own a vehicle1234offer flexibility and options1234Toyota is customer focused1234