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  • Essay / Toyota Marketing Strategies - 1684

    GoalsIn a struggling US economy, Toyota needs to make sure to understand that the results may not be huge and they may not be quick to achieve. Looking at Toyota's sales over the most recent year, we can see that there is room for improvement, but we must maintain the positive trend we have experienced over the past three years. The first thing Toyota needs to do is get information out about the 2014 Highlander Hybrid to its target market. If Toyota aims to increase sales of this particular model by 15% in 2014, thereby increasing its market share and profits, Toyota could effectively capture the hybrid SUV market.Marketing StrategiesCorporate Level StrategyThe strategy that Toyota should implement is a strategy that would focus entirely on customer needs and create value for the customer, thus giving Toyota a competitive advantage. Demographically, Toyota needs to focus on people with household incomes of $100,000 or more. Toyota needs to present this SUV as an economical family vehicle that also protects the environment. By doing this, Toyota effectively gives customers what they need and can continue to gain a competitive advantage with families.Positioning StatementThe 2014 Toyota Highlander Hybrid is an economical family SUV. While other hybrid SUVs offer similar gas mileage, none are as efficient and spacious as the Highlander Hybrid. This way, the Highlander Hybrid can provide a comfortable ride for the whole family while saving you money every time you drive. Product DescriptionThe new 2014 Toyota Highlander Hybrid Limited brings an all-new design to the hybrid SUV market. With its 28 miles per gallon and spacious interior, this SUV is perfect for the family on the go! With a starting price...... middle of paper ...... https://www.fueleconomy.gov/feg/tax_hybrid.shtmlHonda. (2013). Digital factbook. Retrieved from website: http://www.honda.com/newsandviews/local_news_content/[5147e]_Honda_2013_Digital_FactBook.pdf http://automobiles.honda.com/accord-hybrid/News, U. (2013). SUV ranking: best hybrid SUVs. Retrieved from http://usnews.rankingsandreviews.com/cars-trucks/rankings/Hybrid-SUVs/ Orr, A. (February 11, 2011). Income inequality has not always been this way. Retrieved from http://www.epi.org/publication/ Income_inequality_it_wasnt_always_this_way/ SIERRA CLUB, Global Warming & Energy, http://www.sierraclub.org/global warming/cleancars/index.asp Hill, McGraw. “Honda Engine Ads.” Stanford & Poors (2014): n.pag.Standford & Poors. Database. February 26, 2014.http://www.toyota.com/highlander/features.html#!/mileage_estimates/6942/6947/6951/6966Appendix