Marketing Planning - Assignment PDF
Added on 2021-05-30
16 Pages3532 Words71 Views
Surname 1MARKETING PLANStudent’s NameProfessor’s NameInstitutionCourse NameCityDate
Surname 2ContentsIntroduction and objectives.................................................................3Current market and company situational analysis.......................................4Consumer behaviour.........................................................................4PEST analysis.................................................................................7Market Segmentation........................................................................7Marketing Plan Objectives..................................................................8Recommendations............................................................................9Marketing mix strategy.....................................................................10Strategic marketing planning tools .......................................................11Evaluation and Control.....................................................................12Budget........................................................................................13List of Reference...........................................................................14Appendix.....................................................................................16
Surname 3Executive SummaryThe purpose of this report is to provide a marketing plan for Toyota Prius. The head office of the organization is located in the United Kingdom where all decisions are made regarding the organization. The report begins with an introduction to the Toyota Company, and its internal andexternal environment has also been analysed. Competition variables affecting the organization have also been highlighted and explained, followed by the corporate and marketing objectives of the organization. The focus of the report is on the marketing environment and strategies, as well as Toyota Prius as the primary product. Finally, the report concludes by explaining the distinct budgeting requirements and the recommendations which ought to be embraced to realize successin the competitive market.
Surname 4Introduction and objectivesToyota is ranked as the third largest manufacturer, when it comes to automobiles. This is the largest Japanese organization that produced more than 4.5 million vehicles annually. The organization manufactures vehicles of all preferences and sizes, ranging from sports cars, pickups, and trucks (Belz & Peattie, 2012). Toyota Prius boasts of being the first to take up the production of the gasoline-electric hybrid car, which involved joining two types of power sources. Toyota Prius made use of the combination of the electric motor and the petrol engine. The car has for some time, undergone certain modifications according to the driving conditions and consumer preferences. Toyota Prius is focused on entering international market platforms such as the Indian market, hence is aimed at attracting upper middle-income earners, based on the business standard. The primary market for the vehicle includes doctors, top executives and industrialists, between the age of 35 and 50 years (Desanctis & Monge, 2009). India, which is used as an example to represent other international market platforms, will serve as an attractive market for the Toyota Prius owing to numerous factors. This includes; the inclination of the different global populations towards eco-friendly materials, and the increased propensity of consumers to consume commodities from the automobile sector. Based on such facts, the primary purpose of this paper is to come up with a well-designed marketing plan for Toyota Prius. Current market and company situational analysisCompetition: Porter’s Five ModelThe porters five model represents five forces which affect competition in the automotive industry, with the specific focus being on the Toyota Prius.
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