MKT5000 Assignment 2
Overview
Toyota Motor Corporation (Toyota) known for designing and manufacturing high quality, reliable vehicles are expanding their operations to introduce the newest edition to their fleet of environmentally friendly automobiles, the ‘ME.WE Customisable Car Concept’ (ME.WE Car). The launch of the vehicle has been selected to take place in Europe. The ME.WE Car has been designed with the consumer in mind; focusing on the individuals needs through its unique design and style. The Marketing Audit for the ME.WE Car presented in Assignment One (refer Appendix 1) provides an in-depth examination of the internal and external environment in relation to the recommended differentiation marketing strategy.
Evaluation of the microenvironment showed that changes to Government legislation and regulations pose a risk to Toyota’s manufacturing and production line, while there is also deep concern for the European recession upsetting vehicle sales; these threats will have an effect on sales performance and the marketing mix. Furthermore, although in the past Toyota have consistently prospered from the high demand for quality motor vehicles, sales are exposed to serious threat from competitors, fluctuating exchange rates and the push from Governments for the community to use public transport.
The identified target market for the ME.WE Car was highlighted as the lower/medium passenger car segment and classified as a high price, low volume product. The marketing strategy will be based on positioning the ME.WE Car through differentiation of the vehicle and Toyota brand, while concentrating on the private ownership segment. By positing Toyota has the premier environmentally friendly motor vehicle manufacturer, the strategy will first seek to create customer awareness, while attempting to establish a strong customer base. This will be achieved by creating a strong tight connection with consumers through building brand loyalty,
Toyota Motor Corporation (Toyota) known for designing and manufacturing high quality, reliable vehicles are expanding their operations to introduce the newest edition to their fleet of environmentally friendly automobiles, the ‘ME.WE Customisable Car Concept’ (ME.WE Car). The launch of the vehicle has been selected to take place in Europe. The ME.WE Car has been designed with the consumer in mind; focusing on the individuals needs through its unique design and style. The Marketing Audit for the ME.WE Car presented in Assignment One (refer Appendix 1) provides an in-depth examination of the internal and external environment in relation to the recommended differentiation marketing strategy.
Evaluation of the microenvironment showed that changes to Government legislation and regulations pose a risk to Toyota’s manufacturing and production line, while there is also deep concern for the European recession upsetting vehicle sales; these threats will have an effect on sales performance and the marketing mix. Furthermore, although in the past Toyota have consistently prospered from the high demand for quality motor vehicles, sales are exposed to serious threat from competitors, fluctuating exchange rates and the push from Governments for the community to use public transport.
The identified target market for the ME.WE Car was highlighted as the lower/medium passenger car segment and classified as a high price, low volume product. The marketing strategy will be based on positioning the ME.WE Car through differentiation of the vehicle and Toyota brand, while concentrating on the private ownership segment. By positing Toyota has the premier environmentally friendly motor vehicle manufacturer, the strategy will first seek to create customer awareness, while attempting to establish a strong customer base. This will be achieved by creating a strong tight connection with consumers through building brand loyalty,
References: Bekker, H 2013a, 2013 (Half Year) Europe: Car Sales bu EU & EFTA Countries, Car Sales Statistics, viewed 17 August 2013, <http://www.best-selling-cars.com/europe/2013-half-year-europe-car-sales-by-eu-efta-countries/>. McDonald, M, Wilson, H & ebrary Inc. 2011, Marketing plans how to prepare them, how to use them, 7th, Wiley, Chichester, West Sussex, U.K., <http://ezproxy.usq.edu.au/login?url=http://site.ebrary.com/lib/unisouthernqld/Doc?id=10510522%3E. Pricing Objectives, 2011, HelpsMe.com, viewed 19 October 2013, <http://helpsme.com/articles/marketing/pricing-objectives>. Pricing Strategy, 2010, NetMBA.com, viewed 21 October 2013, <http://www.netmba.com/marketing/pricing/>. Westwood, J & ebrary Inc. 1997, 30 minutes - to write a marketing plan, Kogan Page, London, <http://ezproxy.usq.edu.au/login?url=http://site.ebrary.com/lib/unisouthernqld/Doc?id=10023744%3E.