Toyota Motor Corporation was founded in 1937 and headquarter of the company is situated in Japan (Chart, Industry & Industry, 2010). This company is a well known company around the world due to its quality products and services to the customer with quality. There is a number of products such as Carolla, Sienna, Cruiser, Camry, Prius and many more offered by Toyota Company to remain in the competitive market. Camry is the brand of the automobile company which is sold by its parent company Toyota on an international level. This is originated in Japan and has been in the market since 1982. At its beginning, the body of this product was narrowed but later than this product has involved the mid-size body. It is the model which is belonged to the Sedan segment of the sector of Automobile (Chart, Industry & Industry, 2010).
The marketing strategy is considered as the long-term strategy that helps out in attaining competitive advantages in the competitive market (Tull and Hawkins, 2011). With taking consideration of the marketing strategy, any company can uplift the profitability. Toyota Company uses various strategies to attain the competitive advantages at the global level and for this the main focus of the company towards the increasing profits of the company by keeping the value of the customers. The company concentrates the use of the segmentation, targeting and positioning strategy in order to attain the common objectives and targets (Collins, Muthusamy & Carr, 2015). With the help of the marketing strategy, the company is able to enter in the market of Australia to expand its Camry product in which different segments of demographic, geographic, behavioral and psychographic are considered.
The target market for the company keeps huge significance as the company is to select an adequate and dynamic target market. For this, the company needs to evaluate and checks the entire size of the Australian Market. According to the structure of the car., the target market of Toyota Company in Australia is style lover and status maintained person and businessmen as this car is too stylish and has a lot of features. The target market is a selected to a concentrated market where the main objective of the company is to provide the consumer requirements and to attain profit (Tomiyama, 2016). The primary target for this car will be Rich people and the secondary target will be on the Middle-class income group people. It has been analyzed that Toyota Company applies the product strategy and distribution strategy to reach the target market. Product strategy has the capability to deal with product maintenance and product innovation (Nagle & Müller, 2017). The company can focus on the one-year free maintenance on Camry car which would be helpful in attracting a number of customers towards the product. There should be 24 hours free emergency situation unit in which on one call the mechanic of the company should be available at the selected place.
With respect to the positioning strategy, it facilitates in developing a strong and dynamic position in the global market. There is a number of competitors of Toyota Company that can pose the threat for the company. In such condition, the positioning of the company’s product entails the process of the marketing activities of the company that are taken into consideration by the major target audience in Australia (Onkvisit & Shaw, 2008). It has been evaluated that the Toyota Camry Car model uses value-based positioning strategy in order to get plenty of advantages on a global level. There is various positioning strategy but the company is applied the price-quality approach for attracting the customer towards the product.
The marketing mix strategy is considered as the innovative strategy that helps the company to attain the competitive advantages at the global level. Toyota Camry Australia has adopted this strategy to capture the entire target audience. The company uses this strategy to increase the expansion of the Camry in the market of Australia with comprehensive understanding. The marketing mix strategy is defined below:
Product
In the context of the product, it has been found that the Camry has modern and safety features which are provided by the Toyota Company in order to make a different product from its competitors. Camry has become an international brand that enables to face unbendable competition in an efficient manner (Thakor and. Katsanis, 2011). Toyota Company is approached to improve and develop the quality of the ride and experience of Camry in order to implement advanced technologies at a global level.
It is recommended to Camry Toyota Australia to keep the focus on the product development strategy for the purpose of amplifying the sale of the vehicles in the market of Australia. It has been found that brand identity is considered as the unique strategy of the product that can be taken into consideration by Toyota Company at the time of handling and functioning the business activities in the Australian Market.
Place
Toyota Camry has reached in the market of Asia and the United States by which the company has set up the plants of manufacturing in various locations in order to facilitate in decreasing the real cost of the vehicles. The servicing network and the distribution strategy of brand Camry are outstanding. The distributing channels of the company are dealerships and retailers. Toyota Company provides easy access to the customer to reach their product which increases the comfortability of the customers (Rakita, Madi? & Markovi?, 2017).
With respect to the recommendations, it is vital for the company to provide easy access in Australia as well to attract a number of customers towards the product. The Camry brand should be booked online through internet facilities (Hayran & Gürhan-Canli, 2016). The focus of the company should be on the technician team and research and development team before expanding the business in the new market as it helps out to achieve the competitive advantages at the time of handling the business in the Australian Market.
Price
The policies related to the price are considered as the important aspect of the marketing strategy for any kind of product as it has a straight influence on its sales figures. It has been found that the Camry brand of Australia has adopted the value-adding pricing policy as per the model. The company should focus on the perceived value of its product in order to determine the prices in the market of Australia. It has been found that in a number of cases, the company uses market-oriented strategy in the context of the pricing which is dependent on the prevailing situations of the market (Flint, Signori & Golicic, 2016).
It has been recommended to the product of Toyota Company to focus on the competitive pricing as a number of competitors of Toyota Company have developed various sub-products to attract different kinds of the target audience. It is required for the Camry to keep an eye on the competition in order to do not lag behind its competitors. it would be helpful in providing a number of services at affordable prices so that the medium level of a person can afford the same.
Promotion
For the purpose of increasing the brand image, Toyota Company has taken consideration of the number of promotional activities such as personal selling, public relations, promotion and advertisements by using various promotional campaigns such as TVC campaigns and print media. It has been found that the newspaper and news channel are used by the company so that the positive awareness regarding the company and its products can be increased in the view of the customers.
It is recommended to the Toyota Company for its product that the image of the car should be displayed on billboards so that the passerby can see them. Along with that, the online media should be focused by the company to promote the product worldwide especially in Australia by which the company can put offers and features of Camry on various social networking sites (Tsimonis & Dimitriadis, 2014).
Physical evidence
It has been found that there are many companies where the interaction between the manufacturers and consumers finishes after completion of the deal. Toyota is the company that has handled a substantial existence and a constant dealership. This kind of activity has made sure that the customers get a lot of services from the manufacturer in case of need. It is recommended to the company to focus on the gaining confidence of the customers which would increase the sales of the product (Prowriterz, (2018).
Process
Toyota has accepted a production model, therefore, it is capable to develop just-in-time products. it has been analyzed that the role of proper management has decreased production cost in order to increase efficiency. It is recommended to the company in the context of the Camry products to concentrate on the production model for the purpose of capturing a massive market share.
People
It has been found that the Toyota Company has various projects by which the company can encourage and educate their employees at the workplace. As consequences, it has encouraged the self-image of the company and it has been found that the managing director and the front line staff of the company motivate the staff to focus on creativity. It is required by the company to concentrate on the educations, quality and the qualifications of the workforce at the time of hiring the employees in the Australian Market (Akpoyomare, Adeosun & Ganiyu, 2013). Furthermore, the company needs to focus on the strategy of job retention and development programs in order to demeanor the business in various markets. It has been evaluated that an employee is focused as an asset of every kind of company that is why the selection process shall be executed by Toyota Company at the time of implementing the business in the foreign market.
Conclusion
It can be concluded that the role of the principles of marketing keeps huge importance in the development and the expansion of the product in the new market. This assignment has been made on Toyota Company’s Camry product in Australia for which targeting and positioning strategy have been evaluated. It has been elaborated that the marketing mix is recommended in order to attain desired vision and mission of the company to cope up with rivals in the selected market.
References
Akpoyomare, O. B., Adeosun, L. P. K., & Ganiyu, R. A. (2013). Approaches for generating and evaluating product positioning strategy. International Journal of Business Administration, 4(1), 46.
Chart, S., Industry, M., & Industry, S. (2010). Toyota Motor Corporation. Retrieved from from:https://www.toyota-global.com/company/vision_philosophy/.
Collins, K. F., Muthusamy, S. K., & Carr, A. (2015). Toyota production system for healthcare organisations: prospects and implementation challenges. Total Quality Management & Business Excellence, 26(7-8), 905-918.
Flint, D. J., Signori, P., & Golicic, S. L. (2016). Brand Management Fundamentals. In Contemporary Wine Marketing and Supply Chain Management (pp. 97-115). Palgrave Macmillan US.
Hayran, C., & Gürhan-Canli, Z. (2016). Brand extensions. The Routledge Companion to Contemporary Brand Management, 136.
Nagle, T. T., & Müller, G. (2017). The strategy and tactics of pricing: A guide to growing more profitably. Routledge.
Onkvisit, S., & Shaw, J. (2008). International marketing: strategy and theory. Routledge.
Prowriterz, (2018). The 7ps of Marketing Mix in Toyota Company. Retrived from: https://prowriterz.com/blog/the-7ps-of-marketing-in-toyota-company/.
Rakita, B., Madi?, V., & Markovi?, D. (2017). Competitive strategies of late followers in auto industry: case study Hyundai-Kia. Industrija, 45(1), 121-146.
Thakor, M. V. and. Katsanis, L. P. (2011). A Model of Brand and Country Effects on Quality Dimensions: Issues and Implications. Journal of International Consumer Marketing 9(3): 79-100.
Tomiyama, E. (2016). How do the Marketing Strategies of Major Foreign Automobile Manufacturers in the Russian Market Differ?. English-language papers, 4(0032), 47-66.
Tsimonis, G., & Dimitriadis, S. (2014). Brand strategies in social media. Marketing Intelligence & Planning, 32(3), 328-344.
Tull, D.S and Hawkins. (2011). Marketing Research: measurement and method. 2nd ed. Macmillan Publishing Company. New York. pp: 57-61.
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