Toyota Target Market and Positioning Strategy V11
Toyota Target Market and Positioning Strategy
Learning Team A
Dan Black, Amy Giordando, Lisa Haug, Juana Hunsberger, Aundrika Wheeler
MKT575 - Strategic Marketing
March 16, 2015
Bernie Cerasaro, Instructor
Toyota Target Market and Positioning Strategy Analysis
Toyota is the largest global automotive manufacturer and has been successful targeting select markets. For success in the future, they have hired consultants to review its success. The experts will evaluate Toyota’s target market and market positioning in the global automotive industry. Target market will identify demographics, and geographics where they are successful and what changes can be implemented to achieve growth. Market positioning strategy will determine consumer buying behaviors, innovative product life cycle recommendations, and necessary strategic alliances. Branding strategy will also be evaluated to determine if target segments are responding to Toyota's initiatives.
Target Market
Toyota is operating worldwide in the largest developed and developing countries. Each of these represents a different market that requires specific brands targeting. In North America, Toyota is targeting the younger market, large-truck owners, and the luxury SUV (Lexus) market, and has captured 11.2% of the U.S. market (Cravens & Piercy, 2009). The U.S. is Toyota’s largest geographical region (based on sales), and a strong economic recovery is strengthening its market share and enhancing their financial position (Toyota Motor Corporation SWOT Analysis, 2014). The second largest market for Toyota is their native country Japan, and they enjoy a 40%+ share of the market. In Europe, the market demands compact, fuel-efficient, and cleaner diesel engines, and Toyota is lagging the competition in the market with only 4.4% share. Because of economic volatility in South America, Toyota sales revenues are falling. The South American buyer requires affordable and dependable autos, and Toyota’s recall history has damaged
Learning Team A
Dan Black, Amy Giordando, Lisa Haug, Juana Hunsberger, Aundrika Wheeler
MKT575 - Strategic Marketing
March 16, 2015
Bernie Cerasaro, Instructor
Toyota Target Market and Positioning Strategy Analysis
Toyota is the largest global automotive manufacturer and has been successful targeting select markets. For success in the future, they have hired consultants to review its success. The experts will evaluate Toyota’s target market and market positioning in the global automotive industry. Target market will identify demographics, and geographics where they are successful and what changes can be implemented to achieve growth. Market positioning strategy will determine consumer buying behaviors, innovative product life cycle recommendations, and necessary strategic alliances. Branding strategy will also be evaluated to determine if target segments are responding to Toyota's initiatives.
Target Market
Toyota is operating worldwide in the largest developed and developing countries. Each of these represents a different market that requires specific brands targeting. In North America, Toyota is targeting the younger market, large-truck owners, and the luxury SUV (Lexus) market, and has captured 11.2% of the U.S. market (Cravens & Piercy, 2009). The U.S. is Toyota’s largest geographical region (based on sales), and a strong economic recovery is strengthening its market share and enhancing their financial position (Toyota Motor Corporation SWOT Analysis, 2014). The second largest market for Toyota is their native country Japan, and they enjoy a 40%+ share of the market. In Europe, the market demands compact, fuel-efficient, and cleaner diesel engines, and Toyota is lagging the competition in the market with only 4.4% share. Because of economic volatility in South America, Toyota sales revenues are falling. The South American buyer requires affordable and dependable autos, and Toyota’s recall history has damaged
References: Armstrong, G., & Kotler, P. (2005). Marketing: An Introduction (7th ed.). Retrieved from http://www.pearsonhighered.com/educator/product/Marketing-An-Introduction-7E/9780131424104.page#dw_resources. Armstrong, G., & Kotler, P Batten, S. (2011, May 23). Product Positioning: Stand Out From the Crowd. Retrieved from http://www.reloadconsulting.com/business-blog/sales-marketing/product-positioning-stand-out-from-the-crowd Bond, V Lexus. (n.d.). Pursuit of perfection. Retrieved from http://www.lexus.com.sa/EN/About-Lexus/Pursuit-of-Perfection.aspx Priddle, A. (2014, November 25). Lexus targets performance, high-end for growth Toyota Motor Corporation SWOT Analysis. (2014). Toyota Motor Corporation SWOT Analysis, 1-9. Trefis Team