Marketing Plan of Toyota Prius

Running head: MARKETING PLAN OF TOYOTA PRIUS
Marketing Plan of Toyota Prius
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1MARKETING PLAN OF TOYOTA PRIUS
Table of Contents
Executive Summary...................................................................................................................2
1. Introduction and objectives....................................................................................................3
2. Current Market and Company Situational analysis...............................................................3
2.1. Competitors.....................................................................................................................3
2.2. SWOT analysis................................................................................................................3
2.2. Porter’s Five Forces........................................................................................................4
3. Market segmentation..............................................................................................................6
4. Marketing Plan Objectives.....................................................................................................6
5. Marketing mix strategies and recommendations....................................................................7
6. Evaluation and control...........................................................................................................8
7. Budget (using market research)...........................................................................................10
9. References............................................................................................................................11

2MARKETING PLAN OF TOYOTA PRIUS
Executive Summary
Toyota is one among the most re-known car companies in the world and it hence, has
a very large market base. This paper has elaborated on outlining the current market and
situational analysis of the company including its competitive analysis and consumer
behaviour. It has further used the environmental analysis tools of SWOT and Porter Five
forces for analysing the mentioned factors. Furthermore, the paper has outlined the market
segmentation for the Toyota Prius in Oman through emanating the Oman market’s situational
analysis. It has also recommended few marketing mix strategy for Toyota Prius that are
relevant to the segments that are identified under the market situational analysis. Moreover,
the paper has elaborated on evaluation and control segment under which strategies for
monitoring the plan has been discussed and described in details as well as the tools that
would be employed for the monitoring process. Lastly, a brief budget plan has been presented
in a tabular form that has provided a costing for each of the marketing mix strategy that have
been mentioned in the paper. The in-depth and clear understanding of the marketing strategy
for Toyota Prius would allow the company to develop budget form the promotional activities
and development of the car model. The marketing plan in this paper has made in a way that it
can be used in evaluating and monitoring any external and internal market changes for
Toyota Prius.

3MARKETING PLAN OF TOYOTA PRIUS
1. Introduction and objectives
The automobile industry is currently one of the rapidly growing sectors that
incorporates a wide range of organisations and companies that are involved in the
manufacturing, developing, designing, selling and marketing of different motor
vehicles(Shende 2014). Toyota is highly known all over the world for its premium and luxury
cars and is one of the leading organisations under automobile industry. In the Oman region,
the company is actively operating its business since its emergence. The new hybrid Toyota
Prius is one of the most trusted brands in Oman and was first introduced in the year 2011
(Sexton and Sexton 2014). It is a subsidiary company that is owned by the parent company
based in Japan, Toyota Motor Corporation. This paper is going to elaborate on developing a
marketing plan for Toyota Prius for June 2018 to May 2021.
2. Current Market and Company Situational analysis
2.1. Competitors
Nissan- The highly efficient production system of this brand is giving it a competitive
advantage over the other brands in the market segment of Oman (Finster and Hernke 2014). It
has opened up many official showrooms in the city in order to increase its grip in the market
and allow more number of customers to test drive the cars of Nissan.
Audi- Audi has entered into the Oman market with an objective of acquiring a large share of
the market. It has a brilliant exteriors that are sophisticatedly designed and lined
(Buckingham and Al-Athway 2016). The brand has the ability to provide a good resale value
because of the brand recall and good design in the Oman market.
BMW- BMW is on the strongest competitors of Toyota Prius existing in Oman. It is on a
constant planning of finding out new solutions and innovative designs in order to attract more
customers of Oman towards its products and services (Liu 2015). With the same, the