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Market Plan for Toyota specially with its Camry - Term Paper Example

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Market Plan for Toyota Especially With Its Camry Table of Contents 1.0. Executive Summary 3 2.0. Situation Analysis 4 2.1. Market Summary 4 2.2. SWOT Analysis 4 2.3. Competition 7 2.4. Product Offerings 8 2.5. Distribution 9 3.0. Marketing Strategy 9 3.1. Objectives 9 3.2…
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Market Plan for Toyota specially with its Camry
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Market Plan for Toyota specially with its Camry

With its vision to bring continuous development in the services provided by the company, it has been able to produce few of the most fashionable motor designs over the past years. One of its designs which were freshly launched by the company was its Camry Hybrid. The model comprises of various strengths and few limitations as well. Considering the flaws and strengths along with the market opportunities and weaknesses, developing appropriate marketing strategies will be quite beneficial for the organization to plan its further progression. The strategies will be focused on the improvement of the model’s competency and increase in the sales. To be specific, the prime objective of the strategic alliance will be to distinguish Camry Hybrid from the competitors and label it as a leading automobile engineering. 2.0. Situation Analysis 2.1. Market Summary Camry has been one of the most promising hybrid cars launched by Toyota in 2006. Over the past, it has targeted the market comprising of middle income group customers who also prefer environment friendly and innovative technologies (Toyota, 2011). Over the past five years, Camry has gained significant growth in terms of sales in Japan and overseas nations. The growth earned by the brand can be recognized as a steady progress considering importance of continuous improvement in terms of external design and engineering specialties (Fletcher, 2011). 2.2. SWOT Analysis Strengths 1. The product comprises the strength of innovative and fashionable technology i.e. hybrid technology which is considered as one of the uprising technological trends of the modern era (Toyota, 2011) 2. The price range of the product starts from $19,820 which can be afforded by a large group of people inclusive in the middle income group (Toyota, 2011) 3. Provides larger space and comfortable riding experiences to the customers along with the advantage of powerful engine and fuel efficiency which is lacked by most of the hybrid technology based cars (Toyota, 2011) Weaknesses 1. In comparison to other similar version of vehicles, the model is recognized as a mid-sized sedan (Fletcher, 2011) 2. It also comprises few deficiencies in terms of comfortability, e.g. the cruise control stalk is covered behind the wheels, which makes it uncomfortable to see and drive, the interior designing is considered as old-fashioned along with automatic functioning in the manual control for above 70km/hr (Fletcher, 2011) 3. The mid-sized hybrid vehicle was last modified in the early 2010 and has not been updated in the current year which sets it back from staying aligned with the current trends (MSN Autos, 2011). Opportunities 1. A promising market for the mid-sized cars targeted towards the middle income group with lower maintenance cost (Gopal, 2006) 2. Good prospects for the eco-friendly and fuel efficient technologies such as, the hybrid technology (Gopal, 2006) 3. The developing economies which have already been explored by Toyota is forecasted to be growing with immense rapidity (Gopal, 2006) Threats 1. According to the experts, the international automobile industry is most likely to face a challenge raised due to the shortage of raw materials and other components (Gomes, 2011) 2. The threat of competition in the international platform is also forecasted to hamper the operations of global automobile companies (Booz & Co., 2011) 3. The fluctuations in the internatio ... Read More
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