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Toyota Case Study - Essay Example
This report will give an analysis of the marketing strategy and environmental concerns associated with Toyota’s energy saving car models in the UK market. The report will firstly consider a definition of the energy saving car before going on to consider Toyota’s current marketing strategy…
This essay stresses that despite Toyota’s premium based pricing strategy, the researcher considers that economic performance is likely to worsen in the coming years which may see a greater level of growth in the budget sector. As such, it is recommended that Toyota in the coming years adapt its pricing strategy to one based around a cost leadership model in relation to the environmentally friendly car sector. Here the company should take advantage of the falling costs of technology in its existing models to assist the development of a budget range of cars using exiting hybrid technology. This may give Toyota a significant cost based advantage in comparison to other companies who are still in the expensive R&D stage of the development of energy saving vehicles.
This paper makes a conclusion that one of the major advantages seen in the marketing of the Toyota Prius has been the high level of association between the product and role models within society such as Hollywood celebrities. However, as yet Toyota has yet to make official use of such marketing techniques. As such, one recommendation of the report is that Toyota should adapt the promotional element of the marketing mix to make use of celebrity endorsements and other associations which may help to lift sales of both existing and new models. Here the researcher recommends that such changes to the promotional element of the marketing mix should be linked to a web marketing strategy including the use of viral methods and online social networks. ...