MKT10007: Marketing Plan to Target High-End Toyota Land Cruiser

This presentation provides marketing mix recommendations for Toyota Land Cruiser, focusing on targeting high-end customers. It emphasizes the importance of identifying the value proposition, including the car's sturdy exterior, classy design, high horsepower, and powerful engine. The presentation suggests reducing the number of models and colors to create exclusivity, adopting a premium pricing strategy, strategically placing showrooms in commercially viable locations, and utilizing innovative promotional strategies such as advertising in exclusive car magazines. The goal is to effectively communicate the brand's value proposition to its target market and ensure the product reaches the right set of customers, thereby enhancing Toyota's market position.

Marketing
Toyota Land Cruiser

Toyota is a leading brand that is dominating the automobile industry. The brand is well known
for its high quality products, innovating advertising and efficient customer service. Toyota has
been putting efforts to sustain the industry and dominate the same. Even though Land cruisers
were existing in the market since 1951 but it was from 2012 that the demand for the cruiser came
back into the picture. Marketing plays a significant role in the success and growth of any product
introduced by a business (Armstrong et. al., 2015). It is one of the most crucial aspects of any
business. This presentation highlight upon the marketing mix recommendations for Toyota in
order to target high end customers for Toyota’s land cruiser. Target market includes the set of
customers whose needs the business aims to fulfill (Gordon, 2012). Toyota’s land Cruiser
segments its customer on the basis of geography and demography. In this presentation, we shall
focus upon targeting high end and high income groups of the society.
Toyota’s land cruiser is the brand’s premium offering and targets high end customers with a high
disposable income. In order to target customers effectively, it is imperative to identify the value
proposition offered by the product that is unique to the brand. This value proposition throws light
on those attributes of the product that create special value for the customer. The value
proposition offered by the product in order to efficiently target these customers includes the
sturdy exterior, classy design, high horsepower and powerful engine of the car.
Marketing mix for any business highlights upon the four Ps of the business offerings. This
includes product, price, place and promotions. This report recommends modification within the
marketing mix of the product in order to make sure that the above mentioned value propositions
are effectively communicated to its customers. For the first P – product. Toyota must reduce the
overall number of models and colors offered. Limiting the availability of the product will make it
more appealing for customers. This is because a reduced supply is an extensively used strategy
for creating demand.
In terms of pricing, Toyota must adopt a premium pricing strategy. Pricing the product in an
effective manner is critical to the success of the business. This strategy refers to the process of
pricing a product much higher than the industry offerings in order to create a positive positioning
in the minds of customers (Nagle & Muller, 2017). Premium pricing will effectively target the

high income segment group of the society as they prefer products which are unaffordable to
majority of the people. The current price of Toyota Land Cruiser starts at AUD 120500.
The product must be made available across the globe through importing and selling through
franchisees and manufacturing plants. The showrooms for Toyota Land Cruiser must be placed
at commercially viable locations. These locations must be centralized in the city and easily
accessible to customers. The placing of showrooms must be strategically done to ensure that the
product is reachable to potential customers.
Promotional strategies adopted by businesses help organizations in reaching out to their target
markets (Tuten & Ashley, 2011). In order to reach the higher income groups as targeted,
innovative promotional strategies must be adopted besides the traditional marketing tactics
already done by Toyota. The brand has already effectively adopted digital marketing, social
media marketing, influencer marketing and television marketing strategies. When a customer
buys such a high end product, they conduct immense research about the product. Therefore it is
important that detailed information regarding the product is easily available to customers. Such
customers often resort to magazines that exclusively entail car information. Therefore, Toyota
must advertise about the cruiser in these leading automobile magazines.
Toyota is a leading brand that dominates the automobile market. Through this presentation, we
have aimed to segment Toyota’s market appropriately and introducing strategies to communicate
the brand’s value proposition to its customers. Target market segmentation of a product plays a
significant role in ensuring that the product introduced by an organization reaches the right set of
customers (Baker, 2016). This segmentation process divides customers into different sets
depending upon consumer needs. In order to effectively target high income groups and premium
customers, Toyota is recommended to reduce the number of colors and models of the cruiser in
order to make it a limited product. The cruiser must adopt a premium pricing strategy, place their
outlets in posh localities and promote the cruiser through exclusive car magazines.

References
Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction.
Pearson Education. India.
Baker, M.J., 2016. What is marketing?. In The Marketing Book(pp. 25-42). Routledge. United
Kingdom.
Gordon, R., 2012. Re-thinking and re-tooling the social marketing mix. Australasian Marketing
Journal (AMJ), 20(2), pp.122-126.
Nagle, T.T. and Müller, G., 2017. The strategy and tactics of pricing: A guide to growing more
profitably. Routledge. United Kingdom.
Tuten, T.L. and Ashley, C., 2011. Promotional strategies for small businesses: group buying
deals. Small Business Institute Journal, 7(2), pp.15-29.