Consumer Decision-Making Process in the Automobile Sector: A Case Study of Toyota

TABLE OF CONETNT
INTRODUTION...................................................................................................................................2
Assessment............................................................................................................................................3
Consumer decision-making process..................................................................................................3
Porters five force model....................................................................................................................5
GE and BCG matrix..........................................................................................................................6
Range of various segmentation, targeting and positioning strategies used by TOYOTA................10
CONCLUSION...................................................................................................................................11
REFERENCES....................................................................................................................................12

INTRODUTION
Toyota is one of the best automobile brand within world, having large stores within
various parts of world and also enhanced working vision which has made it one of the top
company. The report will be analysing various consumers decisions making process within
automobile sector for Toyota company functional goals formulation, analysis drawn by
Porters five forces factors where there is focus on how competitive industry aspects are
widely heading for gaining new informative goals. The study will be further analysing GE
and BCG matrix for technical goals formulation and larger developed functional strengths,
where report will develop detailed analysis on keeping up the new profound goals worked on
within new horizons. Further there is also analysis on targeting, segmentation, targeting and
positioning strategies where there are keen growth parameters analysed.
Assessment
Consumer decision-making process
Consumer decision making is an long process and there are various steps are included
in it. many people think that most important stage sale is 1A consumer hand over the money.
But actually when it came to how to influence the consumer behaviour, every single step in
the consumer decision-making process play equally important role. For the Toyota business
to maximise the profit at imperative that they pay attention to every stage and buying process

The consumer decision-making process is the process by which consumers become
aware and identify their needs and demand (Stankevich., 2017). It is necessary for the
company to be aware of their needs and collect the information that how they can solve this
needs, they can evaluate the alternative available options to make that purchasing division
and evaluate their purchase. Here are five stages of the consumer decision-making process
Need recognition (Awareness)
It is the first and one of the most important stage of the buying process, it is because
every sale began when the customers are aware About the product and services they want. it
is necessary for the Toyota company 2 spread awareness of their product and services
through the advertisement and promotional process. It will aware and create a needs within
the customers an influence on their decision-making.
search for information (Research)
in this state, customers try to find out their options. they think about the product and
services they want but they try to search for the information related to the product and
services. It is necessary for the Toyota company to find out this kind of customers who are
looking for the cars. Customers are aware and recommended by the friends and their family
about the product and services.
Evaluation of alternatives (consideration)
This is a stage where customers compare the options available within the market. they
compared them on the basis of Price, durability an other demand they want. they choose the
best options available within the market and compare both to get a best deal or the product
for themselves to satisfy their needs and demand (Block and et.al., 2016). It is totally depend
on the consumers because they have to decide what kind of product and services they want
and which option is best for them.
Purchasing decision (Conversion)
It is the stage where customers already decided which product they want and they
make the decision and take action to buy the product and services. it is the 2nd last stage
where customer is already made their decision and they only think of it to buy and it is their
last decision. After that they go to the store And by the product and services.

Post purchase evolution (Re purchase)
It is the last stage that come after making the purchase, consumer considered weather
the product they have buy was worth it Or not, if they find out the product they have buy Is
useful an able to satisfy their needs and demand’s, then they give recommendation to the
others to buy the product they have purchased.
Porters five force model
Porter’s five force models is a kind of framework which is used for industry analysis
and for development of business strategy (Lumbanraja, Dalimunthe and Hasibuan, 2019).
This model helps organization to analyse industry and current competition that can be faced
by organizations operating in a particular industry. This framework will help in analysing
attractiveness of this automobile industry. Porter’s five forces analysis of Toyota is as
follows:
 Bargaining power of suppliers: It is a weak force because there are various number
of suppliers present in this industry that can readily provide required raw materials to
Toyota at lower cost. Other than this most of the suppliers in this industry are small or
moderate in size due to which their overall impact upon Toyota reduces (Taha, 2018).
Availability of large number of suppliers increases options for Toyota to choose from