Marketing plan of toyota assignment

It provides long term commitment to the different domestic and export markets. Toyota Australia head office and manufacturing activities are based in Melbourne. While the sales and marketing operations are based in Sydney. Toyota, Australia employees over 4500 people and more than thousands are employed for its suppliers and retailing networks. Toyota Australia locally built cars like Camry and Aurion. And it imports a wide range of passenger, 4WD and commercial vehicles including Corolla, LandCruiser, Yaris, Tarago, Kluger, HiAce, RAV4, HiLux, Prado and the revolutionary hybrid model Prius.

In addition to this it also distributes and sells the luxury Lexus brand of vehicles. ‘ Toyota is Australia’s largest vehicle exporter and in 2008 exported 101, 668 cars to over 20 countries worldwide. This strong export drive contributed over $1. 9 billion dollars (including parts and accessories) in revenue for Toyota Australia in 2008. Cited on Toyota Website at ; http://www. toyota. com. au/about/company; Toyota’s Australia parent company, Toyota Motor Corporation (TMC) is Japans largest automotive companies in the world.

Its key features are Smart Entry & Smart, 60: 40 split retractable rear seats, Ecological plastic, LED headlamps, Three alternative driving modes, Superior hybrid synergy drive system, first beltless Toyota engine, shift by wire, Solar Ventilation System, Touch Tracer display, Head up display, Remote Air Conditioning System, Pre-collision safety system, Dynamic radar cruise control, emergency brake signal, Intelligent park assist, brake by wire, Vehicle stability control and traction control. Cited on Toyota Website at ii. Financial and non-financial situation

The global economic crisis in July 2008 had a major impact on automotive markets. Toyota, Australia experienced a rapid deterioration in vehicle sales because of the downturn in the economy. This in turn resulted in lower profitability. Vehicle manufacturing and Sales: During the year to 31st March 2009, Toyota Australia manufacturing operations produced 130, 228 Camry and Aurion vehicles for domestic and export markets. Due to a strong sales performance for the first six months, the company was recognized in the Australian industry to achieve highest sales record during the year 2008.

One can also get eBrochure and printed brochures and all the information for the vehicle on the Toyota Australia website (www. toyota. com. au). The main headquarters are in Japan. b. External Environment i. Markets The demand for cars has increased in recent times so the important aspect for the company is to get an appropriate market share in Australian market. The figure 1 is shown in Appendices which tells us the current market share of the company and Figure 2 shows that sales of the new motor cars in recent years has increased.

As there is a concern for providing greener environment across the world, there exists an opportunity for Toyota Australia to create better fuel economy and reduced emissions car which caters to the need of environment. Toyota Prius is one such hybrid synergy drive system vehicle which provides best combined greenhouse and air pollution rating of any vehicle sold in Australia. ‘ Prius is officially our greenest car’. As cited on Toyota Website at ii. Competitive environment Toyota Australia strong competitors in every segment are Ford, GM, Honda, Mercedes, BMW and Volkswagen. Car Sales. com Limited 2009) Toyota Prius main competitors within the market are Honda Civic Hybrid and Ford Fusion Hybrid car. Toyota Prius belongs to the lower/medium passenger car segment (C). Currently Toyota Prius provides maximum fuel efficiency as compared to other brands. It comes with a standard 1. 8L l4, 16 values engine. (ANDiDAS. com 2003) Comparison As cited on Yahoo Website at iii. Economic environment Australia is a stable, democratic country with a strong competitive economy. Australia has one of the most outstanding economies of the world with skilled workforce.

The legal system is based on English common law; accepts compulsory ICJ jurisdiction with reservations. There are no political pressures from the group leaders hence the company can start the business in Australia. (Central Intelligence Agency 2009). The only problem here was when the Luxury Car tax was implemented by the Federal Government in 2008, Toyota Australia experienced a decline in sales on their luxury car segment range. Also environmental and safety measures needs to be implemented within the car with respect to the legal requirement for Australian standards. (Toyota 2009). vii.

Technological environment In Australia the technological environment changes rapidly. Some of the technologies related to automotive industry are as follows: Environmental Technology like hybrid synergy drive, Safety Technology, IT Based Approach, Fuel Cell Technology, Personal Mobility and Robot Technology which are used in the modern cars. Such features increase the sales figures of the company. For Example: In Toyota Prius the hybrid synergy drive which gives a better fuel efficiency and reduces emissions is one of the key features which gave the opportunity to increase the sales figure of the company.

It the ‘ greenest’ car ever sold in Australia, thus it provides the lowest pollution emission and low fuel consumption. So Toyota Company can satisfy the customers and earn profit from the Australian Market. (Toyota 2009). c. Pricing strategies In view of target consumers, Toyota Company uses excellent technologies for the Prius cars. It is cogent to maintain the original price-positioning strategy. Most of the buyers don’t bother about the price. Toyota Prius car uses the Price Skimming Strategy. In this strategy the company will set a relatively high price in the beginning and then reduce the price over time.

As they are able to get consumers at every price point. Toyota Prius car is based on the innovation of hybrid synergy drive hence this innovation helps the company to use this pricing strategy. Competing with price will not support effective development. However, for the company to increase their profit the basic objective is to reduce the prospective cost (sunk cost). So it needs to use the price skimming strategy and capture the market before other competitors enter the potential market. And Toyota Company has always been an early innovator to do that. (Aisha Jones Scheffel 2008) d.