MKT10007 Fundamentals of Marketing: Toyota Camry Ascent Hybrid Plan

This report details a marketing plan for the Toyota Camry Ascent Hybrid, focusing on segmentation, brand positioning, and the marketing mix. The executive summary highlights demographic segmentation, brand positioning using a unique selling proposition, and the use of a skimming pricing strategy. The introduction clarifies the report's purpose, limitations, and scope. The report then dives into the target segment using demographic segmentation, followed by brand positioning strategies and perceptual maps. A comprehensive marketing mix section covers the 4Ps: Product, Place, Promotion, and Price. Product life cycle stages and the diffusion of innovation are analyzed, along with types of consumer products and the three levels of product conceptualization. The report suggests distribution through dealerships and online channels, promotion via various techniques, and the use of skimming pricing. The conclusion summarizes the findings and discusses ethical and social responsibility considerations. The report recommends strategies to increase company revenue by providing quality products while considering corporate social responsibility and ethical considerations.

Running head: MARKETING
Marketing

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Executive Summary
The main purpose of this report is to develop the marketing plan for the Toyota Camry Ascent
Hybrid. There are different analytical procedures used by the company such as segmentation,
brand positioning, and marketing mix. It can be evaluated that demographic segmentation is used
for segmenting the consumer on the basis of age and income. Along with this, brand positioning
is used for keeping the favorable position in the customer’s mind by using a distinctive and
unique selling proposition. Furthermore, skimming pricing strategy will be used to attract the
customers and influence for becoming loyal customers, It can be illustrated that one channel
strategy such as retailing could be used to sell the products. It can be recommended that the
company should provide a quality product with consideration of corporate social responsibility
and ethical consideration. This would be beneficial for increasing the revenue of the company.

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Table of Contents
Executive Summary.....................................................................................................................................2
Introduction.................................................................................................................................................4
Section 1 - Target Segment.........................................................................................................................4
Section 2 – Brand positioning......................................................................................................................5
Section 3 - the Marketing Mix – the 4Ps.....................................................................................................7
3.1 PLC and the Diffusion of Innovation.................................................................................................7
3.2 Type of Consumer product................................................................................................................9
3.3 Product – the “three levels” conceptualization...................................................................................9
3.4 Place................................................................................................................................................10
3.5 Promotion........................................................................................................................................10
3.6 Price.................................................................................................................................................10
Summary Table of your Marketing Mix................................................................................................11
Section 4 – Conclusion, ethics and social responsibility............................................................................11
References.................................................................................................................................................13

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Introduction
The main purpose of this report is to develop the marketing plan for the Toyota Camry Ascent
Hybrid. There are certain limitations encountered in collecting the data is inadequate time, cost
as well as resources that creates complexities in accessing the information. The scope of this
report is wider as it would be beneficial for automobile companies to understand the strategies
for promoting the product into the marketplace. The information would be presented through
advertisement and social media. The information would be gathered from different sources about
customer need is conducting a survey after purchase.
Section 1 - Target Segment
Toyota Camry Ascent Hybrid can use demographic segmentation for arriving at the bulk of
customers. Demographic is a comprehensive technique for targeting the customers. Toyota can
use this technique for targeting the right population towards the Toyota Camry Ascent. Hence,
when the Toyota Company will apply this technique then it would be beneficial for arriving at a
high amount of societies in order to purchase the Toyota Camry Ascent. In addition to this, this
segmentation will divide the population base on the variable. Moreover, the demographic
segmentation will be categorized into different parts such as age, income as well as occupation
among others (Lei, and Moon, 2015).
As the age changes, different needs and wants are demanded by the individual. Hence, when an
individual grows up then he finds valuable to have a certain thing. When one completes the age
of owning a car and has financial constant then he would preferably choose the vehicle such as
Toyota Camry Ascent (Gupta, 2017).
Income may affect the type of product that an individual can purchase. Automobiles like
Mercedes, Ferrari, and other luxurious cars can be afforded by customers who can afford the

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high amount of money as well as expensive products as compared to middle-class people who
can afford automobiles that are cheap like Toyota Camry Ascent. There is a different automobile
that is manufactured by Toyota and could be directed by a certain occupation level (Lees,
Winchester, and De Silva, 2016). A customer who performs at a high rank can buy an expensive
car like the manager will purchase an expensive car as compared to employees. Demographic
segmentation is selected as it facilitates the readily available data that a customer requires.
Toyota can conduct the census as well as determine who, where and the means that it can market
the Toyota Camry Ascent (Mondéjar-Jiménez, et. al., 2015).
Section 2 – Brand positioning
Perceptual maps
(Sources: Nylén and Holmström, 2015).

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(Sources: Kireev, et. al., 2016).
POP’s and POD’s -
There are certain features associated with the point of parity such as reliability, efficiency, and
eco-friendly vehicles and innovative. Toyota Camry is different from another brand in terms of
certain factors such as affordable as well as easy maintenance. Toyota Camry is related to hybrid
and petrol versions that offer safety as well as comfort together with, it would have a significant
long-term favorable impact on the environment. In addition to this, Toyota Camry can use low
cost and differentiation strategies that would aid in gaining competitive benefits over rivalry into
the automotive industry (Gallagher, O'Connor, and Gilmore, 2016).
The market scope is wider as Toyota covers a broader market and entails each kind of customer
that purchases a product of the Automobile industry. Toyota is competent for targeting the larger
market as they have something for each person. In addition to this, the grand position could be
developed by Toyota such as product development as well as offensive strategies for industry
leaders. In addition, product development could be significant for Toyota because of entailing

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the new ideas in the automobile industry. Along with this, Toyota Camry could be successful due
to a high quality with innovative ideas (Argyres, and Mostafa, 2016).
Section 3 - the Marketing Mix – the 4Ps
3.1 PLC and the Diffusion of Innovation
Product life cycle could be categorized into different stages that could be featured by revenue
generated by the product.
Introduction Stage
This phase of the cycle can be expensive for the corporation to launch the new product. The
market size for the product is small that indicates sales are low, but it could be increased.
Growth Stage
The growth stage could be characterized by strong growth in profit and sales. The company can
start to create benefits from economies of scale in the production; profit margin along with the
overall amount of profit would increase (Dibb, and Simkin, 2016).
Maturity Stage
At the time of maturity phase, the product could be developed and the aim of the manufacturer is
to keep the market share they have developed. There is also a need for considering the product
improvement in the production procedure. It could be beneficial for gaining the competitive
benefits (Dhebar, 2016).
Decline Stage
In this stage, the market for the product will start to shrink and this shrinkage can be created
because of becoming saturated along with, customers can switch towards different kinds of
product.
Diffusion of Innovations

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(Sources: Chan, Hwang, and Wu, 2016).
Innovators
When Toyota Camry hybrid will be launched in the market then the first individual to purchase
the products would be known as “innovators”. This small set of people wants to be first for
trying the products as well as they are willing to making uncertainties.
Early adapters
The early adapters will try for new things and they would not be threatened for investing in new
products. This group would be significantly larger than the innovator's group as well as often
they already understand much regarding the new products (Liu, et. al., 2017).
Early majority
The early majority group gives preference to trend but also, give preference to wait as well as see
before creating a purchase. The product would be launched into this group of people. The
product would become highly popular as well as it would cause a tremor in demand.
Late majority
The late majority group may actually lag behind and would only purchase the product after many
other individuals have purchased it along with, its popularity is already declining. The reason

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behind not purchasing Toyota Camry Hybrid by this group is less confidence among them in
starting (Wedel, and Kannan, 2016).
Laggards
The laggard group interval could be considered consciously as well as unconsciously in this
trend as well as does not give preference to innovation as well as change. The key cause is that
this group waits of the declining price of sales (Wang, et. al., 2015).
3.2 Type of Consumer product
Toyota Camry hybrid can consider a different type of consumer products such as shopping
product with specialty product. It is described as given below:
Shopping products are
Shopping products are consumer products that a customer usually contrasts with attributes like
price, quality as well as style in the procedure of choice as well as buying. Therefore, a
difference between two kinds of consumer products is presented so that the shopping product is
usually less frequently bought as well as more carefully contrasted (Wang, et. al., 2016).
Specialty products
This type of consumer products, as well as services, has unique characteristics as well as brand
identification for which a significant group of consumer is willing for creating special buying
efforts.
3.3 Product – the “three levels” conceptualization
Core product:
People drive the Toyota Camry because they want to feel safe as well as save money whereas
still feeling like they are being good individual as well as supporting the environment.
Tangible Product:

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There are different factors considered by Toyota Camry like green technology, solar roof, and
smart key system, new innovative and remote air conditioning. It also offers safety in Toyota
Camry products. It facilitates the iconic shape in the product as well as provides fuel efficiency.
Augmented product
In this category, Toyota Camry hybrid products entail lowest ownership expenses, low
maintenance expenses as well as retained value (Cherubini, Iasevoli, and Michelini, 2015).
3.4 Place
Toyota Camry hybrid could be launched into different markets like Australia, Asia, as well as the
United States. It can develop manufacturing plants in various locations so that, it can help to
decline the actual cost rates of its vehicles. Dealerships, as well as retailers, could be used for
distributing channels of Toyota Camry hybrid. This distributing channel could be used for
increasing the sales volume. Toyota Camry hybrid could be provided at the showroom and
ordered via online services. Along with this, the one-level channel would be used by Toyota as a
retailer intermediary amongst producers as well as consumers (Wang, et. al., 2016).
3.5 Promotion
Toyota can involve in different promotional practices such as sales promotion, online media, and
personal selling for improving brand image. These promotional techniques could be beneficial to
increase the awareness of the brand among the bulk of customers. Through promotion, it can
provide a positive message to the company and generates a favorable image. Hugh Jackman
could be used as an ambassador of Toyota for Camry commercial for Thailand (Cherubini,
Iasevoli, and Michelini, 2015).
3.6 Price

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Skimming pricing strategy could be used by Toyota Camry hybrid product as it does not want to
lag behind its rivalry and therefore it should try to match its prices by focusing on the
competition. This strategy would be beneficial for the prompt recovery of product development
and educational expenses. This pricing strategy would provide flexibility to customers in terms
of getting products at a lower rate. This strategy increases the competency for prestige the
product into the market effectively. But, this strategy can encourage competitiveness entry into
the marketplace (Wedel, and Kannan, 2016).
Summary Table of your Marketing Mix
Mix Current – what
the Brand and
Sub-Brand is
doing now.
Your Recommendation
Why is your Recommendation
better? Explain how your
Recommendation will more-
effectively support and
communicate your Brand
Positioning.
Product Toyota Camry
Ascent Hybrid
contain hybrid
features such as
petrol and hybrid
It should provide quality
products
To attract the bulk of customers
Place Wholeseller Retailers should be
considered for selling
the product.
Selling the bulk of product via
one channel
Promotion Traditional Online channel, personal
selling, and sales
promotion could be used
for endorsing the Toyota
Camry Ascent Hybrid.
Endorse the product among the
bulk of customer at once
Price Penetration pricing
strategy
Skimming pricing
strategy could be used
For offering product at affordable
rates
Section 4 – Conclusion, ethics, and social responsibility
From the above interpretation, it can be concluded that Toyota Camry Hybrid can segment the
customer on the basis of demographic segmentation. This type of segmentation contains different
factors such as income, age, and occupation. Along with this, it can be summarized that Toyota

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Camry hybrid brand can maintain its positioning by offering the quality products at affordable
rates. There are different stages into the product life cycles such as introductory, maturity,
growth and declining stage. Skimming pricing strategy, as well as retailers, are used for
attracting the bulk of customers. It can be stated that the Toyota Camry hybrid will make efforts
for recycling and using renewable waste. It would also lead to the optimum utilization of
resources. Toyota has targeted to attain eco-efficiency and deals with water as well as soil
pollution. It would also develop the underground storage tank in different factories. It will
organize a tour for individuals like school children to come as well as learn regarding taking care
of atmosphere and demonstrating techniques that a company performs into business.