These stakeholders have divergent involvement therefore they create struggle of involvement.
Toyota is the well famous and well known company in the Oman. Its quality products capture the almost complete market. People are showing their full trust on the products of Toyota because of their high quality and customer satisfaction.
The popularity is increase in Oman due to its effective marketing strategies and sales support programs. Toyota first priority is to provide more customer satisfaction and bring smile on their faces. InToyota motor was developed in Japan and inintroduce as first product of UK based.
With a passage of time, it becomes the highest selling brand in united state due to its better production.
In 80s, it starts its production in vehicles and now after 59 years, it become the most famous and recognized selling brand.
And soon it going to attain the first position in the selling list. It only the journey of Toyota from its success and many plans are going t implemented for future. From its mission statement, it is clearly mentioned that Toyota main focus is on customer satisfaction and this thing encourage Toyota to provide high quality product with peaceful drive and leisure.
Toyota work on continuous improvement, which show not only in products but also in its technologies, different services and value added services. It becomes most famous hybrid car in new era of hybrid technologies in all Middle East.
With striking new designs, Prius bring ground breaking hybrid performance with fun to drive sprite. Its specifications related to vehicles are imported as per GSO conformity Certificate applicable to the grade from Toyota motor corporations.
Its parameters may be different due to non Toyota accessories installation. Nationwide service network and parts of Saud Bahwan Automotive support the outstanding product quality of Toyota.
So Toyota become the most well known and trusted brand in all over the world. But for promoting any product, its marketing strategies are very much important and they perform a key role making its product more famous and attract more and more customers due to its marketing strategies and people are willingly ready to purchase the product of Toyota due to its effective marketing policies and methodologies which help in promotion of all products.
Current Market and Company Situational analysis: Prius is hybrid car with fully electric manufactured. It was introduce in in Japan and now this model sold in more than 90 countries.
This was the marketing mix presented by the Toyota Prius Company. d) The company utilized the penetration pricing strategies to construct a market share rather than the skim pricing approach of initially setting the fee higher and then reducing it once the competitors enter (Vinot, Emmanuel, et al., 44). Before the introduction of Toyota Prius the first hybrid model of EV in the grupobittia.com Motors Inc. Tesla should be very concern about Toyota ambitious plan to offer a larger battery pack and a home charging station as options for the Prius Whitestar and $ which is less specious and less luxurious. The best in the hybrid group was the Toyota Prius which scored 2. According to their analysis, hybrid vehicles cost more in terms of overall energy consumed than conventional cars.
The SWOT analysis of Toyota shows its strengths and weakness which are related to its operations that make it stronger from its competitors. Some strengths are given: Highest market share in the US market; Toyota Prius is the leader in market with 80 percent share and its best competitor is Nissan Altima hybrid.
Innovation; Toyota more concern with its improvement in current models and also in prius. Toyota Frugality; its main focus on reliability and frugality in its all designs. Prius is lighter, high energy efficient and compact which suits its optimal fuel economy and higher speed.
Unique design; prius is more successful car due to its design. Its design brought down its drag coefficient as its competitors are finding to difficult. Environment impact; hybrid electric car is the demand of customers as they Want emission on environment and prices surging.
And at this time, its launch is become important for all customers. Now there is also some weakness with the strength of Toyota Prius: More choice for eco friendly car; the demand for eco friendly cars will going to increase in future and many companies are going to invest in hybrid technology.
Different competitors also provide more economic options as compare to Toyota. Huge order; Toyota has to face a huge order of cars as they set a bench mark of total sales and more products are ready in process.
Bhasin, Toyota Five Force Analysis: The five forces are: Bargaining power of Toyota customers; its customers directly affect the revenue of business. The influence if customers on business are very strong.
Some external factors are consider to be main contributors for strong bargaining power like moderate substitute availability, high quality information and low switching cost. Competitive rivalry or competition; Toyota has to handle strong force of competition.
Some external factors related to competitive rivalry environment are; low number of large firms, high variety and differentiation of firms and high aggressiveness of firms.
Bargaining power of Toyota suppliers; suppliers want ti improve the firm with the business. This analysis shows the interaction between business and suppliers.Also as a matter fact the household income of most of the respondents were ways beyond the price of the Prius so it’s very much affordable to the target market (Williander, ).
This is just a sample term paper for marketing purposes. Jun 23, · By December , the top seller in the U.S. was the Toyota Prius, with cumulative sales of , units, followed by the Honda Civic Hybrid, with , vehicles, and the Toyota Camry Hybrid, with , units.
the automobile sector was very high. D. Toyota’s model’s internationalization In , when Toyota started is internationalization, they were presented in all . Before the introduction of Toyota Prius the first hybrid model of EV in the grupobittia.com Motors Inc.
Tesla should be very concern about Toyota ambitious plan to offer a larger battery pack and a home charging station as options for the Prius Whitestar and $ which is less specious and less luxurious.