Targeting Strategy of Toyota Motor Corporation-Samples for Students

Question: What targeting strategy is your Car Manufacturer using? Explain your reasoning. Answer: Toyota Motor Corporation is one of the leading car manufacture in Canada and across the world. Canadians are showing great demand for vehicles as time goes on (Mathieson, 2010). In order to meet its marketing objectives, the company has segmented the Canadian market according to various characteristics of the consumer. The purpose of market segmentation is to split the general market needs into smaller defined groups. In this country, it has segmented its market according to life style and social class. In Canadian market, Toyota has segmented its passer cars based on four major categories namely fuel efficient car, luxurious car, high performance car and high tech-environmentally friendly (Bose, 2012). Based on these segments, the company is able to serve every consumer to satisfaction irrespective of their differences in terms of needs and preferences. The luxurious cars are bought by high class and people who like being associated with expensive things. Some of the luxury cars comprise of Lexus, 4runner and Sequoia. Such vehicles are also commonly used for transporting VIPs (pauwels, 2015). One of the characteristics which define cars under this category is that they are expensive and costly to maintain. Most of vehicles under this category are big or designed with unique features which define high class. Under this category, are also purchased by families with between 4-5 members and those who have high levels of income. The fuel efficient cars are sold to mid-low level income category with family of between 2 to 5 members. Some of the cars under this segmentation comprise of Camry, Prius, Yaris sedan, corolla, Yaris Hatchback, and among others. Under this category, the company provides the consumers with broad range of prices. One of the reasons which made Toyota to use this type of segmentation is because cars are expensive and costly to maintain depending on their model. The other segment which this company has in Canada is high performance cars (pauwels, 2015). Cars under this category are bout by people who need unique features. Example of vehicle under this category comprise of those which can perform better in tough terrains and sport cars. Some of the models which can operate better in tough terrains comprise of four wheel drive vehicles like Hilux, 4runner among others. Sport cars comprise of Toyota Atlis sports model, Fortuner among others. People who purchase cars under this category are those who like sports, adventure and those who travel in areas associated with tough terrain, dense pools and other features where other type of vehicles cant operate. As environmental pollution has become a major concern in Canada. There are people who feel they should always play a roles in ensuring pollution is minimized. As a result of this, Toyota Canada has innovated various types of vehicles which meet these demand (Bose, 2012). Under its major segments, it has high-tech environmentally friendly vehicles which are characterised with less carbon emission. Cars under this category also have other unique characteristics like air filtration systems, emission sensors, LED lights, inflatable real safety belts, and Lighter weight among others. People who purchase vehicles under this category are those who want to drive but consider. The four segmentations considers families of between 2 to 5 members and individuals who like to experience driving their own vehicles (Mathieson, 2010). These segments are meant to serve consumers of various needs and levels of income. They are also meant to solve different needs which consumers have. For example, high performance category serve consumers who experience challenges of tough terrain and those who like sports, luxury serves those who like luxury products, high-tech environmentally vehicles serve those who like to preserve environment and finally fuel efficient serve low-middle level income consumers who like incurring less costs. Company: Toyota Segment Primary Need Addressed Key demographic variables Key Psychographic variables Key Behavioral variables Brand example Luxurious Luxury needs Families comprising of 2-7 members Lifestyle: family- related activities, VIP activities like carrying senior government officials. Key characteristics: expensive, powerful engines and high fuel consumption Toyota Lexus Fuel efficient cars Economic friendly needs Families comprising 2-7 members Life style: Adventures Fuel efficient and less maintained costs Camry, Prius V, and 86, Yaris sedan, corolla High performance Tough terrain, dense pools and Sporting needs Families comprising of 2-7 members and languages Life styles: travelling off road and in areas with tough terrain and slippery roads. Key characteristics; high performance features like powerful engines, four wheel drive and high speed. Fortuner, Hilux and Toyota atlas sport model High-tech environmentally friendly vehicles Environmental conservation Families comprising of 2-7 members Life styles: people who like driving but mind preserving environment Key characteristics: less carbon emission sensors, lighter weight, LED lights, hybrid engines, air filtration systems Toyoyta Prius two eco Targeting According to Luther (2013), targeting is defined as the process of evaluating the selected market segments to determine their effectiveness so as to choose one or more to enter. For example, in terms of social class, the company has decided to enter into two segments in the Canadian market namely luxury and low-middle class category. According to Donald (2015), there are three targeting strategies which a company can use: undifferentiating, differentiating and concentrated. Toyota cannot use undifferentiating in Canada because the company is not willing to convey same message to very person. The company can only prosper by using either differentiated or concentration targeting technique. Based on these targeting strategies, the company target each consumer with its own marketing mix in order to meet the desires of each consumer. Comparing the two, Toyota mostly uses concentration, also known as niche targeting strategy. The major reason why it has chosen to use this targeting strategy in this country is because it enables it to serve a well-defined group of consumers. For different products, the company uses consideration differentiation strategy. Toyota offers different products of different value and for different market segments (Irina, 2013). For example in the sport utility vehicle class alone, it has developed a variety of vehicles which meet the needs of consumers who belong to this category in Canada. Some of these vehicles comprise of 4runner, sequoia, and land cruiser among others. Each of this vehicles is tailored to different price ranges in order to accommodate people with different buying preferences. References Bose, T. K. (2012). Market Segmentation and Customer Focus Strategies and Their Contribution towards Effective Value Chain Management. International Journal of Marketing Studies, 4(), 201-223 Donald, B. (2015). Essentials of International Marketing. London: Routledge. Irina, P. (2013). Product Innovation Strategies on Emerging Markets: Bringing Theory and Practice Together. European Journal of Interdisciplinary Studies, 5(2), 58-90. Luther, W. (2011). The Marketing Plan: How to Prepare and Implement It. New York: AMACOM. Mathieson, R. (2010). The On-Demand Brand: 10 Rules for Digital Marketing Success in an Anytime, Everywhere World. New York: AMACOM. Pauwels, K. (2014). Its not the Size of the DataIt's How You Use It: Smarter Marketing with Analytics and Dashboards. New York: American Management Associations.

Dell Supply Chain Analysis free essay sample

Dell’s Position in PC market Service level: high customization, etc Competitive Strategy: Dell chooses the customers who prioritize Variety: high product variety Quality: reasonable quality Price: reasonable price Lead time: approximately one week Implied Demand Uncertainty Impact of customer needs on implied demand uncertainty Conclusion: The competitive strategy in meet high variety and service level contribute to Dell’s high implied demand uncertainty. Dell SC Capabilities 1. Facilities 2. Inventory 3. Transportation 4. Information 5. Sourcing 6. Pricing 7. Customer service Facilities †¢ Location: Regional approach, suppliers’ facilities built next to door †¢ Capacity: Lowest raw material shipping time, perform intended functions, little excess capacity will be more efficient per unit; high-utilization facility difficult to respond to demand fluctuations , customer could conveniently send orders via internet and telephone. Summary: Dell’s facilities strategy reduce inbound shipping time, and the logistics cost, and increase service level. Inventories †¢ Safety Inventory: on-site inventories to copy with the next few hours of orders †¢ Seasonal Inventory: Level of Product Availability(time): High Level and just-in-time Delivery 4 days across the entire operation Summary: Dell’s low inventories strategy minimizes inventory and overstock, therefore it could meet customer high variety by quickly transferring to latest products. Transportation †¢ Leave it to the Suppliers †¢ Design of Transportation Network: Air Networks mostly in Asian Market: Shanghai, Taiwan, Singapore, Hong Kong †¢ Choice of Transportation Mode: Summary: Dell’s transportation strategy could minimize the production lead time, and also could provide high service level by shipping products directly to customers’ home. Information †¢ Push Versus Pull †¢ Coordination and Information Sharing †¢ Forecasting and Aggregate Planning: how to make and to what extent to rely on †¢ Enabling Technologies: EDI, Internet, Extranet, B2Bi Summary: Shared Information strategies could realize supply continuity. Thereby it could meet the high customization and product availability. Sourcing †¢ In-house or Outsource †¢ Supplier Selection: 50 suppliers †¢ Procurement: Consolidated supply, 80% of procurements to ensure low transaction costs Summary: Stringent supplier selection criterion could increase product availability, and reduce supply uncertainty. Pricing Customer Service †¢ Pricing – Eliminating the by distributors and retails as well as the added value; – Pricing is not Dell’s main strategy, but Dell provides a reasonable price with good quality. †¢ Customer Service – Customer orders conveniently via phone and internet; – Shipping the products to customers’ home; – Service Center is dedicated in Dell’s brands. Summary: Dell’s strategies in pricing and customer service could provide products with high service level and reasonable price. Responsive Supply Chain Supply chain responsiveness includes a supply chains ability to do the following (Chopra Meindl, 2010): †¢ Respond to wide ranges of quantities demanded †¢ Meet short lead times †¢ Handle a large variety of products †¢ Build highly innovative products †¢ Meet a high service level †¢ Handle supply uncertainty Conclusion: Dell realize a supply chain with high variety, service level, and flexible to hand supply uncertainty, Dell supply chain is high responsive. The responsiveness spectrum Somewhat Somewhat efficient responsive Dell: Highly responsive Highly efficient Why it works well . Facilities 2. Inventory Service level: high customization, etc 3. Transportation Variety: high variety 4. Information Quality: Reasonable quality 5. Sourcing Price: Reasonable price Lead time: approximately one week 6. Pricing 7. Customer service Strategic Fit Why it works well High implied Uncertainty VS. Responsive SC Strategic FitIntercompany Interfunctional Scope †¢ †¢ †¢ Dell SC considered different functions inside the company; Dell SC considered different stages; The intercompany interfunctional scope could obtain the maximize profitability. Suppliers Dell Customer Intercompany Interfunctional Scope Competitive Strategy high [variety, customization, service level], reasonable [price, quality, lead time]. Supply Chain Strategy Build facilities next to Dell plant floor; Managing manufacturing per Dell MRP forecast; Ensuring freights were last loaded in order to be unloaded first. Build to order; Lowest inventory; No distributors and retailers; Shipping to customer home, etc. Online sales; Sharing MRP forecast, order flow, Inventory with suppliers, etc Direct contacting with customer Ordering computers on line; Customizing the computers. Information Strategy MS Strategy FA strategy Tight cash flow Limitations of Direct Model †¢ Time: – Relative long lead time for customers(one week); †¢ Cost: – Suppliers’ next to door facilities increase suppliers’ cost; – High delivery cost, especially for rural areas; †¢ Service Level: – Complex and time-consuming after sale service; – Low inventories may impact in production continuity; – Lack of first hand experience before buying; †¢ Variety – Limited diversity due to Dell’s commitment to Intel; †¢ Innovation – Less innovative, relying on suppliers’ intellectual property. Challenges in Emerging Markets †¢ Printers and TVs markets – Difficulties to make outsourcing printers work seamlessly with dell’s products; – Less innovative; – Competitors start to sell online; †¢ New geographic markets – More expensive than other competitors in low-end products; – Customers dislike to buy on the phone or internet; – Expensive cost in delivery, service and support in rural areas; – Limited diversity and higher cost due to Dell’s commitment to Intel; – inability to serve all market needs due to limited vendors; – Requirement for better information and communication technology. Proposals for Dell †¢ Printers and TVs markets – More innovative; – More TVs displaying in public places to raise customer awareness; – More development in high-end products; †¢ New geographic markets – More product availability and diversity in low price products; – Long term cooperation with dedicated logistic companies or huge wholesalers to reduce the delivery cost (e. g. Amazon); – More localized channels to place and pay orders; – Setup franchisee to provide customer service and support. The End. Thank you!

Aeneas Character Review free essay sample

An analysis of the character of Aeneas in The Aeneid and a comparison with the Greek heroes, Odysseus and Achilles. This paper takes a look at the legendary story of the hero Aeneas who survives the fall of Troy and follows the will of the gods and fate to build a nation that will eventually become Rome. The paper includes an analysis of The Aeneid, written in Homeric style and gives a comparison of Aeneas character with Greek heroes, Odysseus and Achilles. The son of Anchises and Venus, a prince of Troy and leader of the expedition to Italy, Aeneas is the main character in the book The Aeneid. The most admired and valued characteristics in Augustan Rome are marked on his personality. He is true to his word devout, a courageous and skillful soldier and a pious. The heroism of Aeneas is his ability, to place his belief in Rome in all times and the Roman ideal before his own selfish interests, which was unlike Achilles and Odysseus. We will write a custom essay sample on Aeneas Character Review or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page

Reasons for a Revolution essays

Reasons for a Revolution essays With the famous rallying cry, No taxation without representation, many believe the American Revolutionary War was fought for strictly political reasons. However, the incentive for independence might have been the avoidance of the British regulation of colonial trade. The colonies were protected against foreign invasion by the British military. They received this protection with very little taxation compared to taxes in Great Britain. They engaged in homeland economic activities with very little interference from England. Basically, the only point they were asked to adhere to were the regulations concerning foreign trade. Now, Im not saying that the colonists werent justified in the revolt, only that their reasons differed from their rallying cries. The first change in taxation came with the Sugar Act of 1764. The act lowered tariff rates on non-British products from the West Indies, and the hope was to reduce smuggling in order to increase their tariff revenue. The problem the colonists had was not with the lowered tariffs, because that actually made it cheaper, but that it was taking their business away from them. The colonists were the smugglers. The British werent allowing them to conduct business the way they wanted, which was free from government meddling. They saw this interference as a form of theft. Simple boycotts of all English imports proved enough for the repeal of the Sugar, Stamp, and Townshend Acts, along with the non-renewal of the Quartering Act. Three year later, the British East India Company fell on hard times. In order to lift the financial burden, the English Parliament passed the Tea Act of 1773. Many believe this was a hefty tax placed on a much loved beverage, but this is a common misconception. This act allowed the East India Company to ship tea directly to the Americas, where they once were required to go through Great Britain and typically a Colonial middle...

Advocacy organization Essay Example | Topics and Well Written Essays - 250 words

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Environmental Audit Term Paper Example | Topics and Well Written Essays - 2000 words

Environmental Audit - Term Paper Example Environmental auditing is systematic process conducted at regular interval by responsible authority in order to identify operations and practices related to meet environmental requirement. When conducting the environmental auditing, the firm should frame certain criteria for conducting the audit. Effective criteria would enable the firm to assess the performance of auditing entity. If these criteria are inappropriate it will bring certain problems in making the auditing. The framed criteria should be measurable, acceptable, and should be reliable. The organization should make good planning regarding the conduct of environmental audit. This planning would help the firm to know the required time to complete the auditing procedures and to identify potential problems in the audit etc. â€Å"For planning for successful audit assignments, the auditor needs to understand the auditees’ commitments in terms of financial norms, compliance requirements, and performance expectations. Thi s would determine what procedure is to be followed† (Guidance on Conducting Environmental Audit 9). If a firm proposed to conduct environmental audit, it should have clear objective about the auditing, and the firm should determine the steps to be undertaken by the firm to achieve the desired result. The firm should determine the audit scope, areas of auditing etc. The audit objectives includes the following†¢Ã‚  To recognize improvement opportunities.†¢Ã‚  To assess the internal policies for conducting environmental audit.... Environmental audit generally conduct in the following areas Material management and savings of material. Waste management and effective disposal of waste. Economy use of water resources. Effective utilization of energy resources. Performance pertaining with the environmental management system. Air pollution and preparedness to prevent air pollution. Noise pollutions control and preparedness. Conducting environmental auditing is the responsibility of companies, and it is their duty to keep environment free from the pollutions. The companies should evaluate their commitment toward society and they should not make any harm to the environment. Companies should utilize the natural resources in right manner and it should not exploit. Today government has imposed many regulations on the companies to protect the environment from the pollutions. â€Å"Through adoption of clean technologies and improvement in management practices for prevention and control of pollution is not only mandatory but also has got wide acceptance among the industrial community. Charter on corporate responsibility for environmental protection (CREP) also calls for commitment and voluntary initiatives of industry for responsible care of the environment† (Environmental Auditing 1). Environmental auditing reviews company’s operations and process in order to assess company’s compliance with environmental rules and regulations. Environmental auditing cover broad areas of business including building and building site. Many companies are using environmental auditing as a valuable tool of business resources. The auditing helps the company to bring many advantageous such as to know the problems relating to air, water, and land and to gain

AET ETO reflection Essay Example | Topics and Well Written Essays - 750 words

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