Assignment Marketing Consumer Behavior

RUNNING HEAD: Marketing consumer behaviour
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TOYOTA
Marketing consumer behaviour

Marketing consumer behaviour
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Contents
Table of figures............................................................................................................... 1
Introduction................................................................................................................ 2
1.Situation analysis of the company...........................................................................2
2. Target Market Description...................................................................................... 7
3. Target Market Decision Making Process.................................................................8
4. Social influences on buying behaviour.................................................................10
5. Psychological influences on buying behaviour.....................................................11
6. Personal factors influences on buying behaviour.................................................11
7. Marketing Strategy Recommendations................................................................12
Conclusion................................................................................................................ 14
References............................................................................................................... 15
Table of figures
Figure 1: Current market situation of Toyota...........................................................................4
Figure 2: Market share of Toyota......................................................................................... 4
Figure 3: Toyota's marketing strategy.................................................................................... 5

Marketing consumer behaviour
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Introduction
Consumer behaviour is the study of consumers about what they think, like, dislike & select
between different options. It is about how their behaviour affects to an organization. It is the
study of consumers who go through various stages of pre & post purchase of goods & services.
This report is written to the managing director of Toyota. In this report, the key issues of
consumer behaviour are discussed which the company is facing. These are situation analysis of
the company, target market, decision making process, influences on buying behaviour &
marketing strategy recommendations. It is going to help to understand consumer behaviour &
company could target the market accordingly.
1. Situation analysis of the company
Company’s background
Toyota is an automobile manufacturing company. The company is based in Japan and was
founded by a Japanese manufacturer Toyoda Sakichi in 1926. Nearly 600 subsidiary companies
are involved in the production process of Toyota. In 1999, the company got listed on the London
stock exchange & New York stock exchange.
Historical facts
Toyota was established in 1924 with the setting up of Toyota model G automatic loom. Vehicles
of Toyota are sold in more than 170 countries & regions and employ more than 320000 people in
the world. The company is largest in the Japan & has second place in the world. The company
has a large market share in America & Europe.
Vision
It’s vision is to lead in motor vehicles industry by introducing new technologies.
Mission

Marketing consumer behaviour
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Toyota’s mission is to be a mobility leader by attracting customers with highly valued products
& services also aiming at providing innovative & better quality (Heitz-Spahn, 2013).
Current market situation Analysis
Toyota has outperformed in the past few years. The company has a strong record of quality.
Innovative production process & to provide great quality at best prices is the core competency of
organization. The company’s production system is based on lean manufacturing concept which
includes innovative practices. Company’s distinctive competency is competitive advantage that
has given a different identity to Toyota (Lantos, 2015). Since 2010, the company’s total revenue
has grown up by 50%. In 2015, the company’s total revenue was 27.2 trillion yen and it
increased by 3.4% & reached to 28.4 trillion.
Figure 1: Current market situation of Toyota
Industry information
Company’s main focus is on the automotive industry but is also involved in the process of
robotics, material handling & textile machinery. The company is leading auto industry in
innovation since 2015. The company is also listed among the top 20 on IPO list and is the only
automaker company.