Relations and More Instructor Dry. Janis McCall Integrated Market Strategy September 29, 2014 Introduction This research document will encompass an integrated market strategy for the Toyota Tundra.
It will embody such descriptive as an overview/executive summary of the marketing strategy, the product and desired brand image, the target market, including buyer motivations, demographics, and chirography's, the over-all marketing strategy, including positioning strategy versus competitors, a promotion ND advertising campaign that includes a description of one advertisement, a suggestion and descriptive of one advertisement, a suggestion and descriptive of a public relations campaign, the utilization of an Internet marketing campaign, including website and utilization of email, and a direct marketing campaign, including customer relationship management. Is an integrated market strategy for the Toyota Tundra the most logical way for Toyota to advertise and sell their product Overview/Executive Summary of the Marketing Strategy According to Toyota Global, 2014 Toyota Motor Company is one of the worlds most auspicious automotive manufacturers and is the primary leader in environmental, amicable, and technologically progressive vehicles on the market.
Toyota Motor Corporation was established in 1937 in Tokyo, Japan. The corporations principal business activities are motor vehicle fabrications and sales. In addition to Toasts automobile manufacturing industry its proficiency broadens to a diversity of distinct realms, which embrace financial servitude, communications, housing, navigation and biotechnology, electronics, and textile contrivances. The organizations shares are traded on the Toyota Stock Exchange under the numeration 6201 T. Toasts profit was 12. 5 billion last fiscal year and its industry is auto and truck components and fabrication of new vehicles. Toasts primary competitive factors are Honda, Ionians, G.
M. , Ford, Volkswagen, Renault, and Peugeot. Toyota Motor Company possesses an extraordinary administrative team. Toyota executives are besieged with the creation of value and Excellency for the consumer. This in itself is a critical component of a successful organization. Toyota possesses an unparalleled team who strive to ensure the safety and satisfaction of the consumer. Toyota has a myriad of consumers and footing that leads this researcher to sincerely believe it its future. Toasts environmental exploration and outgrowth activities centralize on the environment, informational technology, product velveteen, and vehicle invulnerability.
Toyota Motor Company possesses patents or technology in the velveteen of light weight and more fuel efficacious engines and transmissions. These technologies encompass the common rail direct injection diesel engine, the direct injection four stroke gasoline engine, and the nitrous oxide storage reduction catalytic system. Toyota Motor Company also is developing technology on discretionary fuel ennoblement systems for commercial sale. This encompasses the recycling of automotive components via the velveteen of recycling engineering. Work in this scope incorporates developing utilization for shredder remnants, the recycling of nickel- alloy hybrid batteries, as well as the development of vehicles fabricated with a lofty ratio of recyclable components.
Toyota Motor Company should definitely continue its employment of supplemental lobbyists and public relations specialists, to step-up its advertising campaigns globally. Toasts history has not always been a bed of roses. Toyota encountered voluminous retractions of its vehicles in 2009 due to faulty accelerator problems. This phenomenon resulted in Toyota being scrutinized both inside and outside the organization, and as a direct result has emanated more Herculean in nature from the exigency which was encountered. Toyota has since become more centralized on the consumers and safety issues due to the organization having gone through this particular crisis.
The organizations strong reemergence is also largely due to the prompt and efficient actions of Toyota Motor Company in correcting this problem with the retracted vehicles. This researcher strongly suggests that Toyota continues in its efforts to ensure the utmost in safety, ND should an unfortunate perplexity such as the faulty accelerator recur that the respond promptly to the problem and take corrective actions to ensure that all faulty vehicles are repaired. A reactive public relations response is also warranted for damage control. Describe the product/service and desired brand image As an owner of a 2013 Toyota Tundra, this researcher can describe Toasts Tundra truck as a (4 door) truck with a 6-speed automatic transmission.
It can comfortably seat six and is a V-8 E Flex fuel vehicle. This vehicle is also four wheel drive. The fuel economy in the itty is classed at 13 MPEG and on the highway is classed at 18 MPEG. Consumer rating on the 2013 Toyota Tundra is 5 star. The intrinsic warranty is quoted as 3 yr/36,OHO miles. The desired brand image for the Toyota Tundra is to conscript the consumers intellect of the entirety of the brands aggregate individuality, or in other words, the brands veritable or idealized attributes as well as its inadequacies. Brand image is evolved over time via advertising campaigns with a congruous dissertation, and is verified via the consumers undeviating encounter.
It is therefore this researchers pinion that Toyota should continue to meet or exceed its current brand image in order to remain in a competitive position. It is also this researchers opinion that prudent brand management attempts to fashion the product applicable to the target assembly. Skillfully crafted advertising campaigns can be highly triumphant in persuading consumers to expend notably lofty prices for products which are intrinsically economical to produce. This rationale is commonly acknowledged as creating value, and this rationale works marvelously for Toyota Motor Company. Creating value is essentially comprised of influencing the projected reflection of the
Toyota Tundra so that consumers visualize the vehicle as being worth the expenditure that the advertiser desires him/her to perceive, rather than the more rational value that consists of an aggregate of the expenditure of raw materials, fabrication, and the expenditure of allotment of the vehicles. Brands delineate the aggregate of all the meritorious attributes of the Toyota Tundra to the consumer. Toasts brand image exemplifies performance (381 HP and 401 lb-Ft of torque). A glass breakage sensor in the security sensor, and safety aspects such as a back up camera with a wide angle perspective and the Star Safety System, which consists of icicle equilibrium control, smart stop technology, traction control, brake assist, and etc.
Toyota Tundra also comes fully equipped with a tire pressure monitoring system, which will illuminate an icon on the instrument panel provided the tire pressure falls below that which is required. Toyota Tundra also possesses a specialized latch which allows one to securely place a child seat or pet taxi promptly and effortlessly. All of the aforementioned features add up to a creditable brand image for the Toyota Tundra. The brand image of the Toyota Tundra was the dominate factor in this researchers procuring of this particular vehicle. Describe the target market, including buyer motivations, demographics, and chirography's. Toasts target market extends from the younger individuals who prefer the Toyota Corolla or the F. J.
Cruiser, to individuals who necessitate a work vehicle such as the Toyota Tundra. Toyota also targets families with its Subs and minivans, and women are targeted for their preferences of such models as the Toyota Pries. Older individuals are inspired with the Toyota Valor, business individuals procure the luxury models of Toyota, and even a super vehicle named the Toyota ALFA for those who prefer to live on the lid side. A buying motive is essentially the inference why the consumer purchases a product. Motivation is the compelling energy behind the purchasing of a product. Motivation ascribes to impulses, sentient, cogitation, emotions, and drives which causes the consumer to respond in the formation of a determination.
The consumer purchases the product due to a myriad of motivational factors including social, economical, or psychological. A variety of consumers are attracted to Toyota due to the celebrated longevity, dependability, and quality of their products, however at the apex of the list a myriad of consumers buyer motivation is simply the safety factor. All of Toasts vehicles are designed to surpass in two pertinent domains of safety which are noted as active and passive in nature. Active safety is essentially the capability of a vehicle to circumvent a fortuity, and passive safety is the proficiency to prevent injuries or perhaps even a fatality in the event of an accident.
Toyota has always been the chief leader in the scope of safety aspects in the automotive industry, and the company is the original and sole fabricator to proffer Vehicle Stability Control as standard accoutrement on all its Subs. Toyota Motor Company must continually inspire its consumers on the social, economical, and psychological factors in order to be successful in its endeavors as a leading automotive manufacturer. In essence, Toyota has targeted the demographic segmentation established on gender, family size, family life cycle as well as earnings and profession. In cryptographic segmentation, Toyota has targeted the market by social classification, personality distinctions, and lifestyle.
Toyota Motor Corporation has fabricated vehicles that are loftier in position essentially by evolving the engine and the all inclusive design of the vehicle. For example The aforementioned ALFA model was designed for those individuals with a loftier lifestyle, social class, or personality characteristics essentially so that they would have more options from which to choose, rather than the basic standard vehicles. Additional marketing ideas that this researcher deems useful in the promotion of brand products to a particular target market include incentives such as the following. Young adults give free concert tickets. Individuals who necessitate a work vehicle add a (behind the cab) tool box as a free accessory. Older individuals give a free two-year contract to AAA, and etc.
Marketing ideas that can be utilized to promote the brand product to a particular target market include realizing a process to secure that the consumer is cognizant of Toasts products that they fabricate and those which are fabricated by the competitive factor. A differentiating design, symbol, or other distinguishing aspect that sets apart Toasts products from those of other vendors. Based on information obtained from Ogden Ogden, 2014 the brand image is essentially a short-cut to sentiments and impact in the awareness of the consumer. The desires and/or necessities of the prospective nonuser must be comprehended, and an analytical advantage to the brand image is the winning of confidence of the prospective consumer.
It also behooves the organization to utilize branding to procure the customer to perceive Toyota as the only company that possesses a solution to their perplexities. Describe a promotions and advertising campaign that includes a description of one advertisement. Toyota could institute a promotional campaign for the Toyota Tundra by re-branding, to essentially describe itself as a United States company, as far as the American consumer is affected. Re-branding is a workable execution utilized by an organization that must alter its image or resituated the organization in its key publics. To achieve this feat Toyota must attain market share in America. Toyota must also substantiate to the public consumer that when they purchase a vehicle fabricated by Toyota that the profits realized is invested in the U. S. Economy, not exclusively in the Japanese economy. According to Youth, 2013 a descriptive of one advertisement utilized exclusively for the Toyota Tundra that satisfies the American consumer is the commercial made in Little Rock, Arkansas that depicts Toasts vehicles being fabricated in America, with the slogan we build trucks better than they have to be, and we make them here in America. Recommend and describe a public relations campaign. A recommended public relations campaign for Toyota Tundra would embody the utilization of a famous rock star to campaign for the Toyota Tundra. Encompassed in this campaign would be the tag line Toyota has a rock star for this.
This type of public relations campaign could captivate consumers old and young alike. For example Who doesn't appreciate Bruce Springiness or the Rolling Stones According to Phillips, 2006 a descriptive of a public relations campaign embodies the exercising of the management in the circulation of information between an individual or an organization and the public. Public relations can essentially be a company attaining publicity to their assemblies utilizing subject matter of public interest that does not necessitate direct payment. The intention off public relations campaign is to convince the public in general, potential consumers, investors, and etc. To uphold a well-founded outlook about the product.
The aforementioned recommended PR campaign would be categorized as a consumer/lifestyle public relations campaign. A public relations campaign possesses three essential traits recognizing an objective, ascertaining the accurate message which will assist in attaining that objective, and communicating that message to the proper assembly. All of the aforementioned traits of a public relations campaign are present in this researchers recommendation. Describe the use of an Internet marketing campaign, including website and use of email. According to Ryan Jones 2009 an Internet marketing campaign, also recognized as digital marketing essentially utilizes computers, cell phones, tablets, and game consoles to engage with potential consumers.
Digital racketing applies a diversity of techniques such as websites, emails, APS (classic and mobile) as well as social networks such as Backbone or Twitter. An example of an Internet marketing campaign that has remained in this researchers mind is Toyota Tundra's social-saws impact in which Toyota tapped into 300 social-savvy influences to scrutinize and disseminate the word about the 2013 Toyota Tundra. The desire of Toyota was that these influences would essentially fashion their own videos and share their encounters with the 2013 truck, which would accouter an air of translucency, trust, and validity to potential consumers. This is a working marketing campaign in this researchers opinion and should definitely be repeated in the future.
According to Hughes, 2012 the usage of email is yet another route utilized in the art of Internet marketing campaigns. Also recognized as viral marketing this is interpreted as the internet advertising or marketing that is distributed exponentially, whereupon a fresh user is appended. The utilization of email in an Internet marketing campaign typically inculpates a requisition for business, to transmit advertisements, or to petition for donations or sales. Email marketing campaigns are intended to structure trust, brand cognizance, and loyalty. Email marketing can be accomplished via an existing consumer database, or sold lists obtained from other organizations.
For example Toyota utilizes the email marketing campaign to inspirit consumer loyalty, and to iterate business, to obtain new consumers, or to tempt current consumers to buy yet another product. Further exemplified by Hughes, 2012 as an email marketing campaign augments more respect marketing sagacity will encounter consumer sagacity. Email marketing can be executed via differentiated types of emails, transactional or direct. Transactional emails are typically utilized founded on a consumers action with an organization. Transactional emails encompass password reset emails, validating or purchase order emails, or recalls. The primary intention of a transactional email is to impart information in regards to the action which triggered it initially.
Transactional emails also proffer the occasion to enlist consumers, to anticipate and reply to queries, to protract the email relationship with the consumer, or to cross-sell or up sell their organizations product line. Direct email, incorporates remitting an email for the sole purpose of communicating a rumination message. A prime example of this type email is an announcement of a specific proposition from Toyota Motor Company such as a manufacturers rebate program currently in effect. Describe a direct marketing campaign, including customer relationship management. Further exemplified by Hughes 2012, a direct marketing campaign gets to the consumer sans motivation from any external entity. Its myriad of forms embodies direct mail, print ads, or even a mere sign.