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STP segmentation, targeting and positioning
4Ps of TOYOTA
SWOT Analysis
Flower of services
Other Services
Marketing Strategies
Website
• Industry: Automotive Robotics Financial services• Products: Automobile• Founded: August 28, 1937 • Founder(s): Kiichiro Toyoda• Key people: Fujio Cho (Chairman), Akio Toyoda (President and CEO
)• Headquarters Toyota, Aichi, Japan• Employees: 324,747 (2012)• Subsidiaries 522 (Toyota Group)
Toyota India Hino Motors, Ltd. Daihatsu Motor Co., Ltd. Toyota Financial Services
• Website: Toyota Global• Area served: Worldwide
MISSION Toyota seeks to create a more prosperous society through automotive manufacturing.
VISION Toyota aims to achieve long-term, stable growth in harmony with the environment, the global economy, the local communities it serves, and its stakeholders.
Segmentation
Toyota’s segmentation and target market is guided by its philosophy of
‘right car in the right place’:
• It has segmented all the countries across the globe as its market
• All of toyota's vehicles speak to a different consumer segmentation.
• Based on income, gender, life cycle stages, needs/desires, etc.
• Vehicles are designed so as to attract on the basis of lifestyle choices and specific
attitudes.
• Toyota uses a psychographic and behavioral approach to segmenting the market
Target The prius:
• targets on conscious consumers who place an importance on the environment• targets individuals that want to save at the gas pumps. • targets individuals that care about safety, family, quality, etc.
The tundra: • Targets on consumers interested in functionality and recreation.
The lexus: • targets a more sophisticated, "classy" consumer, individuals interested in style,
luxury, comfort, status etc.• targets the middle aged consumer who care about family, safety, security,
prestige....all wrapped up in a stylish bow.
Trucks:• truck lovers or professional who need trucks
Positioning
Price
Price
Place
Products 70 different models sold under its name TOYOTA
• VANS: Sienna, Previa, Tarago, Estima
• TRUCKS: T100, Tacoma(4x2&4x4), Tundra CrewMax(4x2&4x4), Tundra Double Cap(4x2&4x4), Tundra Regular Cap(4x2&4x4)
• SEDANS: Avalon, Camry, Corolla, ECHO, Prius
• SUVs: 4Runner, FJ Cruiser, Highlander, Highlander hybrid, Land cruiser, RAV4, Venza, etc.
• WAGONS: Prius plug-in, Prius V, Pruis C, etc.
• Tercel, Supra, Yaris, etc....
PromotionTOYOTA uses:
• show room,
• advertisement,
• free drive plan,
• special offer and exhibitions,
• after sales services,
• Toyota’s blog: (http://blog.toyota.com)
• TV programme,
• Websites (http://www.toyota-global.com/)
as a means of promotional strategy.
SWOT AnalysisLocation of Factor TYPE OF FACTOR
Favorable Unfavorable
Internal Strengths
Strong financial performance
Brand image
Strong performance in Asia region
Research and development activities
Toyota production system
Weaknesses
Poor profitability of ‘financial services’ segment
Expenses related to post retirement benefits for employees
External Opportunities
Increasing demand for hybrid electric vehicles
Opportunities in Asian market
New models
Threats
Economic slowdown
Competition in the global automotive
market
Tightening emission standards
Appreciating Japanese Yen against US Dollar
Toyota’s Strategy
• Increase competitive strength through advanced technology:
Environmental technology (fuel consumption, emission, recoverability)
Hybrid vehicles and next generation fuel cells
Cost-reduction(discontinuation, integration of older models )
• Increased emphasis on financial services and information communication system
Flower of services
Other services
• Financial services:
Car loan and car leasing including Classic or Choices finance, operating leases, Vantage leases, Driveway & Toyota Payment
Protection products including car insurance, vehicle warranties and servicing into one easy monthly payment.
Payment Protection Insurance, a quick, easy and affordable way to make sure you can keep up your payments in the event of an accident, illness or death. Boat loans: online quote to apply for a boat finance with their online loan application form
• Robotics:
Honda’s ASIMO robot, Toyota’s new humanoid prototype, stands 130cm tall and weighs 50Kg, seven degrees of freedom on his legs (run 7km/h)
Worldwide Presence
Why Toyota is Successful? • Continuous improvement.
• Customer Satisfaction.
• Quality Products.
• Unique Production System
• . Respect for people.
• Segmentation, targeting, and positioning nurtured by its variety of offers and product attributes.
Thank you for your attention
