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Marketing Assignment - Toyota Motor Corporation

   

Added on  2020-03-16

7 Pages1372 Words222 Views
Running Head: MARKETINGMarketingNamesInstitutional Affiliations

MARKETING 2Toyota Motor Corporation is one of the leading car manufacture in Canada and acrossthe world. Canadians are showing great demand for vehicles as time goes on (Mathieson, 2010). In order to meet its marketing objectives, the company has segmented the Canadian market according to various characteristics of the consumer. The purpose of market segmentation is to split the general market needs into smaller defined groups. In this country, it has segmented its market according to life style and social class. In Canadian market, Toyota has segmented its passer cars based on four major categories namely fuel efficient car, luxurious car, high performance car and high tech-environmentally friendly (Bose, 2012). Based on these segments, the company is able to serve every consumer to satisfaction irrespective of their differences in terms of needs and preferences. The luxurious cars are bought by high class and people who like being associated with expensive things. Some of the luxury cars comprise of Lexus, 4runner and Sequoia. Such vehicles are also commonly used for transporting VIPs (pauwels, 2015). One of the characteristics which define cars under this category is that they are expensive and costly to maintain. Most of vehicles under this category are big or designed with unique features which define high class. Under this category, are also purchased by families with between 4-5members and those who have high levels of income.The fuel efficient cars are sold to mid-low level income category with family of between 2 to 5 members. Some of the cars under this segmentation comprise of Camry, Prius,Yaris sedan, corolla, Yaris Hatchback, and among others. Under this category, the company provides the consumers with broad range of prices. One of the reasons which made Toyota touse this type of segmentation is because cars are expensive and costly to maintain depending on their model.

MARKETING 3The other segment which this company has in Canada is high performance cars (pauwels, 2015). Cars under this category are bout by people who need unique features. Example of vehicle under this category comprise of those which can perform better in tough terrains and sport cars. Some of the models which can operate better in tough terrains comprise of four wheel drive vehicles like Hilux, 4runner among others. Sport cars comprise of Toyota Atlis sports model, Fortuner among others. People who purchase cars under this category are those who like sports, adventure and those who travel in areas associated with tough terrain, dense pools and other features where other type of vehicles can’t operate.As environmental pollution has become a major concern in Canada. There are people who feel they should always play a roles in ensuring pollution is minimized. As a result of this, Toyota Canada has innovated various types of vehicles which meet these demand (Bose,2012). Under its major segments, it has high-tech environmentally friendly vehicles which are characterised with less carbon emission. Cars under this category also have other unique characteristics like air filtration systems, emission sensors, LED lights, inflatable real safety belts, and Lighter weight among others. People who purchase vehicles under this category arethose who want to drive but consider.The four segmentations considers families of between 2 to 5 members and individualswho like to experience driving their own vehicles (Mathieson, 2010). These segments are meant to serve consumers of various needs and levels of income. They are also meant to solve different needs which consumers have. For example, high performance category serve consumers who experience challenges of tough terrain and those who like sports, luxury serves those who like luxury products, high-tech environmentally vehicles serve those who like to preserve environment and finally fuel efficient serve low-middle level income consumers who like incurring less costs.

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