Examples Of Marketing Segmentation Of Toyota
Segmenting: it means break market into small segments, usually marketers divide them as geographic, demographic, lifestyle and behavioral approaches. Demographic means they divide them by age, group, race, gender and income. Geographical means region, local market or international. Lifestyle means by hobbies and interest. Behavioral approaches means benefits from that product.
2. Targeting: companies usually choose one market segment. However to get it they do deep research and analyze competitors place. After that they choose their target place.
3. Positioning: every company make unique message to always stay in customer's minds. For instance some companies to get positioning make a brand known others make low price and improve quality to be as unique product in the market. In our research we have chosen Toyota company to make comparison between countries and understand more about marketing segmentation, positioning in that company.
Company background Toyota company was founded in 1937 by Kiichiro Toyoda to create automobiles. In 2013 Toyota became multinational company which includes 333,498 employees all over the world. Company produces econom and business class cars as well.. Furthermore most recognizable is Prado, Camry, Land Cruiser. For business class Toyota have developed Lexus elite class …show more content…
For that people who prefer sport life and interested in high speed. Toyota uses different product for different target market. For example Toyota recently started to produce wagon, as we know Toyota has created sedan which was successfully introduced in market area. In sport vehicles Toyota introduced 4Runner, Rav4, Sequoia with different prices for every targeted segments. In near future company decided to put as a main focus for hybrid cars and vehicles. With growing and changing world company change their strategy and plan to satisfy customers needs. However with huge competition company faces variety of problems and crisis. To be on the top of car market Toyota chooses the lowest price and the highest quality to be always number one. They provide different aspects to solve drivers gaps in their vehicles and improve it with new coming car. They focus on comfort and safety to be known as a smart innovative and modern company. With high respect from all over the world Toyota company become as a best choice for drivers with their variety types of cars and