Toyota Marketing Strategy Marketing Essay

Toyota selling outline Marketing EssayToyota push Corporation ProfileAccording to Toyota international (2015) Toyota is a adult malewide Japanese automotive club headquartered in Aichi, Japan. Toyota was founded in August 28 1937 by founder Kiichiro Toyoda.Marketing schemeFifield (2012) introduces there are countless meanings for the bound Marketing Strategy. Fifield (2012) accumulates and provides a number of meanings from unhomogeneous authors for the term Marketing Strategy. just the most captivating definition from Fifields (2012) research was from an author named Craven. Fifield (2012, p.xxiv) quotes Cravens definition of a merchandise placeing system in which he defines it as a routine that involves strategically analysing environmental, competitive as advantageously as business factors that need business units and forecasting future trends in business areas of interest to the company. perceptivity Pricing Marketing StrategyA cope dodging currently utilise by Toyota is a dodge called penetration pricing (See concomitant A). Ferrell and Hartline (2010) smash that the purpose of the penetration pricing selling dodge is to tap sales and to attain widespread market share in spite of appearance the market a company is competing in. Ferrell and Hartline (2010) in like manner turn to light that the penetration pricing merchandise strategy has the objective of capturing a large market share apace by setting clinical depression impairments for products that a company sells. Furthermore Ferrell and Hartline (2010) claim that penetration pricing is trounce executed when consumers are sensitive towards the determine of the product.Harrison and John (2013) highlight Toyotas function of the penetration pricing merchandise strategy which states that Toyota sell their cars in the low end of the set spectrum. This strategy caters to the scathe sensitive consumers.Whats more Wood (2007) exemplifies Toyotas go for of the penetration pricing market strategy when Toyota introduced their Yaris Subcompact car production to the Europe market. Wood (2007) highlights that Toyotas consumption of the penetration pricing market strategy for their Yaris car production enabled the corporation to compete with other well-known automotive companies much(prenominal)(prenominal) as Ford, Volkswagen, Renault and Vauxhall. second Marketing StrategyAnother merchandising strategy employ by Toyota is a merchandise strategy called the second strategy (See concomitant B). Boone and Kurtz (2014) propound that guerrilla merchandise involves companies using unconventional techniques to attract consumer attention. Boone and Kurtz (2014) also image the guerrilla marketing strategy as a fairly pertly marketing technique, in addition Boone and Kurtz (2014) reveal that the strategy is normally utilize by companies that do not live with financial resources for other well-known or more effective marketing strategies. What is mor e Boone and Kurtz (2014) bring foregoing that established companies much(prenominal)(prenominal)(prenominal) as Toyota and Pepsi also employ the guerrilla marketing strategy even though such companies pose the financial cleverness to implement more effective marketing strategies.Boyles (2008) acknowledges Toyotas incorporation of the guerrilla marketing strategy which outlines that Toyotas main reason for using the guerrilla marketing strategy is to attract the younger crowd i.e. young adults. Boyles (2008) also points out that companies such as Toyota conduct this strategy by placing advertisements on objects that are used everyday e.g. food or drink packaging. What is more Boyles (2008) goes further by revealing that companies such as Toyota use alternative methods for the guerrilla marketing strategy such as placing advertisements in locations where people commute frequently. friendly Media Marketing StrategyA further strategy currently used by Toyota is the kind media marke ting strategy (See Appendix C). Marketing via use of societal media is considered a contemporary strategy in the marketing world and is also considered a very effective marketing strategy. Many companies in this day age are now taking advantage of the social media marketing strategy such as Toyota. Zarrella (2009) notifies that social media marketing involves the workout of web technologies. Zarella (2009) also points out that social media web technologies include activities such as blogging, social networks (such as Facebook and LinkedIn) and media sharing sites (such as Flickr and YouTube).Tybout and Calde, (2010) present a detailed example of Toyotas usage of the social media marketing strategy. Tybout and Calde (2010) exemplify Toyotas usage of the social media strategy marketing by unveiling Toyotas affiliation with a company called iCrossing. Tybout and Calde (2010) go further by acknowledging iCrossings role in edifice awareness of Toyotas IQ city car which was released by Toyota in 2008. Tybout and Calde, (2010) throw that iCrossing is a UK based company who specialise in digital marketing. redundantly Tybout and Calde, (2010) mention that iCrossing helped to promote Toyotas IQ car model via the use of a campaign called the The Hypermiling Campaign. Hypermiler (2015) is an online community that focuses on providing fuel saving advice. iCrossings assistance in promoting the IQ car production helped Toyota to generate positive anticipation amongst the communitys online users.Tybout and Calde, (2010) hold open by talking slightly Toyotas IQ blogging site which was created specifically for the IQ car production. Tybout and Calde, (2010) carry on by disclosing Toyotas increase in trading on their blogging site which increased by more than 212 percent as a result of their affiliation with iCrossing. Tybout and Calde, (2010) lecture on how the social media marketing strategy has enabled Toyota to reach new-fangled audiences through the use of altern ative social media marketing techniques such as blog posting, Flickr and Twitter. Tybout and Calde, (2010) conclude by addressing an additional technique used by Toyota in the social media realm which is the consolidation of their online newsroom with social media outlets such as YouTube, Flickr and Twitter. The result of this marketing technique consolidation has allowed the web community to access Toyotas images, videos, activities and anything else associated with Toyota.Trade turn in Marketing StrategyThe last strategy used by Toyota is trade yield marketing strategy (See Appendix D). This marketing strategy is used by some(prenominal) well-known automotive companies within the car industry. Trade show marketing involves companies exhibiting their new product(s) or service(s). Silen (2013) describes trade show marketing as person to person, knowledge exchange and selling. Silen (2013) proceeds by stating that trade shows involve the gathering and distribution of informati on. Toyota uses this particular strategy to exhibit new car productions.An example of Toyotas trade show marketing strategy is their collaboration with a German company called B+s exhibitions. B+s exhibitions (2015) illustrate the partnership between the two companies where they present galleries as well as video footage of Toyotas trade shows. Toyota and b+s exhibitions have worked in cin one casert since the early 1980s. B+s exhibitions are a company who have been specialising in trade shows for all over 40 days where one of their essential focuses is trade show marketing for top automotive companies all just about the world.Recommendations to Improve Toyotas Marketing StrategiesPenetration Pricing Marketing Strategy progressBased on the adventureings, Toyota could improve their penetration pricing marketing strategy by initially selling their cars at a low wrong then slowly increasing their prices once they have established a strong clientele on any new production they rele ase. As mentioned earlier companies use the penetration strategy to attain widespread market share within the market they are competing in. What this means is companies such as Toyota using the penetration pricing strategy are trying to pattern a strong clientele which Toyota achieved many times over the years with the various car productions they have released.Holden and Burton (2010) address this issue in which they pull through about the problems that evoke arise from the penetration pricing strategy. First Holden and Burton (2010) attempt the issue of customers who come to companies such as Toyota based on price where they highlight such customers as being the first to leave once another competitor enters the market. What is more Holden and Burton (2010) state that competing with competitors based on price is the least saveable competitive advantage strategy to have. Even though Toyota has been one of the worlds leading automotive competitors for many years it is imperative to raise up to such precautions into consideration for the reason that they could sooner or later find themselves in such a situation. The tactic of starting off with low price then slowing increasing the price could help sustain the companys competitive advantage years down the line. rebel Marketing Strategy ImprovementToyota could improve their guerrilla marketing strategy by integrating their guerrilla marketing strategy with their social media marketing strategy.Levinson and Gibson (2010) speak about the effectiveness of combining the two marketing strategies. Levinson and Gibson (2010) delve into how guerrilla marketing strategy is able operate alongside the social media marketing strategy by noting the cost aspect of combining the two marketing strategies. They reveal that creating a social media platform requires zero fees. Levinson and Gibson (2010) carry on by discussing that all guerrilla marketers should take advantage of this idea as it gives guerrilla marketers such as Toyota the opportunity to maximise their brand to a wider audience. genial Media Marketing Strategy ImprovementBased on the findings Toyota has already constructed a solid social media marketing strategy. However Toyota could improve their social media marketing strategy as a way to study their competitors.West, Ford and Ibrahim (2015) bring to light how the social media marketing strategy plunder useful branch when analysing your competition. West, Ford and Ibrahim (2015) provide an insight on how the social media strategy is a contemporary tool for monitoring and gathering information about competitors within your market segments. Moreover West, Ford and Ibrahim (2015) go further by making a note of the type of information that can be self-contained about competitors where information can include competitor brands, strengths, weaknesses and strategic decisions. additionally West, Ford and Ibrahim (2015) present an extra commodity where they state corporations such as Toyota can employ specialist firms to analyse competitors on their behalf. Having access to such information would provide Toyota with ammunition which they can then use to get a better understanding of the market they are competing in.Trade Show Marketing Strategy improvementToyota could improve their trade show marketing strategy by integrating their trade show and social media strategies together. death penalty their social media strategy onward and during their trade shows would help Toyota to improve avocation and awareness of their trade shows.Stratten and Kramer (2012) bring to attention that social media is one of the best ways to increase traffic at a trade shows. This can be done is by engaging in social media before and during the event. Stratten and Kramer (2012) offer an example of this tactic by saying that users of the trade show marketing strategy could use a social media outlet such as Twitter for their trade shows by using the hashtag tool. According to subgenus Chen et al. (2014) the hashtag tool is a feature on social media that is used to list messages by topic. Stratten and Kramer (2012) continue by explaining that the use of hashtags enable the hosts of trade shows to chitchat what people are saying about their conferences. This tactic can be carried out days or weeks before the event.ConclusionResearch has revealed how submissive marketing strategies can be to a companys success. Additionally the report has shown how various marketing strategies play different roles to elicit varied results. Research has also illustrated how marketing strategies can be the catalyst to a companys longevity and accept the power to separate successful companies from unsuccessful companies.What is more from research conducted it can be seen that even established companies such as Toyota still have room for improvement as development is a never terminus process.Overall the report has helped to discover how Toyota has attained their current status within the automotive market. Toyota is good example of a company that executes effective marketing strategies. The marketing strategies outlined in the report have helped to expose how Toyota has had such a strong force in the automotive market over the years.ReferencesBoone, L. and Kurtz, D. (2014). Contemporary Marketing. ArkansasBoyles, D. (2008). The Corporate Assault on Youth. New York Peter LangB+s exhibitions (2015). b+s exhibitions GmbH . online Available athttp//wordpress.bs-exhibitions.de/?lang=enChen, Y., Balke, W., Xu, J., Xu, W., Jin, P., Lin, X., Tang, T. and Hwang, E. (2014). Web-age information management. Macau Springer.Ferrell, O. and Hartline, M. (2010). Marketing Strategy. 6th ed. Erin Joyne.Fifield, P. (2012). Marketing Strategy. second ed. The Chartered Institute of MarketingHarrison, J. and St. John, C. (2013). Foundations in strategic management. Mason, Ohio Thomson/South-Western.olden, R. and Burton, M. (2010). Pricing with Confidence. Somerset Wiley.Hypermiler (2015 ). Hypermiler.co.uk, Hypermiling News, Techniques Tips. online Available athttp//www.hypermiler.co.uk/Levinson, J. and Gibson, S. (2010). Guerrilla Marketing for Social Media 100+ Weapons to Grown Your Online Influence, Attract Customers and Drive Profits. entrepreneur Press.Solberg Silen, K. (2013). Exhibit marketing and trade show intelligence. Berlin Springer.Stratten, S. and Kramer, A. (2012). UnMarketing. Hoboken, N.J. Wiley.Toyota Global (2015). Toyota Global Site Overview. online Available athttp//www.toyota-global.com/company/profile/overview/Tybout, A. and Calder, B. (2010). Kellogg on Marketing. 2nd ed. Illinois.West, D., Ford, J. and Ibrahim, E. (2015). Strategic marketing. Oxford Oxford University Press.Wood, M. (2007). Essential guide to marketing planning. Harlow Financial Times learner Hall.Zarrella, D. (2015). The Social Media Marketing Book. Sebastopol OReilly Media.BibliographyConway, A. (2015). Beijing Auto Trade Show Toyota let out its new Concept. online Au to-Types.com. Available athttp//www.auto-types.com/autonews/beijing-auto-trade-show-toyota-unveil-its-new-concept-8598.htmlGlobal, T. (2015). Toyota Global. online YouTube. Available athttps//www.youtube.com/user/TOYOTAglobalLum, R. (2012). Toyota nurture Whats Behind You. online Creative Guerrilla Marketing. Available athttp//www.creativeguerrillamarketing.com/guerrilla-marketing/toyota-protect-whats-behind-you/Seymour, R., Haddon, E. and Brownlee, S. (2012). Hot looks and undisturbed Connections with New Toyota Aygo Fire and Ice UK Media Site. online Media.toyota.co.uk. Available athttp//media.toyota.co.uk/2012/02/hot-looks-and-cool-connections-with-new-toyota-aygo-fire-and-ice/Appendix A Penetration Pricing Marketing Strategy ExampleSourced from Toyota UK Media, 2012Appendix B Guerrilla Marketing Strategy ExampleSourced from Creative Guerrilla Marketing, 2012Appendix C Social Media Marketing Strategy ExampleSourced from YouTube, 2015Appendix D Trade Show Marketing Strategy Exa mpleSourced from Auto Types, 2015