Essay about Toyota Marketing Mix 4 P's
Since 2003, Toyota has taken over to become the world's number two carmaker and they are not very far behind GMC, the number on US carmaker. With their consistency in innovating designs and over a billion dollars spent in advertisement a year, Toyota has become an attraction in the eyes of many auto consumers worldwide. Toyota has built its reputation not only by producing high quality vehicles at affordable prices, but the brand and marketing skills they use through tactful pricing strategies. Toyota has differentiated their prices from the traditional pricing set up of many of the other automobile makers. However, it is their effectiveness in targeting consumers' needs and wants that has pushed them to the top.
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Citations: http://uk.tbmcg.com/about/ourroots/pricing_strategy.2007.TBM Consulting Group, Inc. www.toyota.co. 2008.Toyota Motor Corporation. PRODUCTS
Toyota offers a variety of both tangible and intangible product offerings starting from their line of cars to warranties. Toyota has approximately nineteen car models and they are broken down to different categories: Sedan, Trucks, SUVs/Van, and Hybrid. Toyota offers both new and used vehicles and the option to custom build your own vehicles. Toyota's products also include parts, gears, and NASCAR collectibles for the NASCAR fans. As far as their intangible products, Toyota provides car services, financial services, warranties/ extended warranties, and roadside assistance. Toyota extended warranties provide different mileage coverage options from 36,000 miles to 100,000 miles. Toyota takes into accounts customer's interests in designing their products. Toyota dedicates a research center to gather data on the community expectations of Toyota. Toyota employed the Calty Design Research Incorporated as their subsidiary. As of year 2005, Toyota has invested 22.2 million to this research center. 22.2 million