Introduction Toyota Motor Corporation, commonly known simply as Toyota, is a Multinational Corporation headquartered in Japan and the world’s largest automaker by sales. Toyota employs approximately 320,808 people worldwide.
HISTORY KIICHIRO TOYODA founded the company in 1937 as a spin-off from his father’s company Toyota Industries to create automobiles. Three years earlier in 1934, while still a department of Toyota Industries, it created its first product, the type a engine and in 1936, its first passenger car, the Toyota AA.
TOYOTA – BANGLADESH NAVANA LIMITED, the flagship company of the NAVANA GROUP (previously Islam Group) was doing business under an exclusive distributorship agreement with TOYOTA of Japan to market Toyota cars.
A strategy consists of a well thought out series of tactics to make a marketing plan more effective. Marketing strategies serve as the fundamental underpinning of marketing plans designed to fill market needs and reach marketing objectives.
DIFFERENTIATION NAVANA LIMITED growth since inception can be attributed to one simple, yet important aspect of its business philosophy-”PUTTING CUSTOMER FIRST”. While managing growth, NAVANA has maintained its commitment to provide quality products at a reasonable price and has made every effort to meet changes in customer needs
TARGETING • Quality full Custom services or restoration, including engine, custom bodywork and paint. • Timely completion of the work on their cars. • Competitive rates. • Close attention to detail, and commitment to quality. • Ability to offer ideas for alternatives and close customer services. • The commercials mainly target at Bangladeshi youth and young executives.
POSITIONING • Is endowing products and services with the power of brand.
Branding: - • Helps consumer organize their knowledge about products & services in a way that clarifies their decision making .
• Reflects the number & nature of both common & distinctive brand element it applies to the product it sells.
NAVANA uses LINE EXTENSION as its BRANDING STRATEGY .like they have come up with different variants in corolla, new being SPORTS model.
Multibranding:- Different brands available like Camry, corolla, innova, land cruiser, Prado. E.g. Introduction of FORTUNER in its line of SUV’s
SEGMENTATION A market segment consists of a group of customer who share a similar set of wants. Geographic segmentation :-
Country: In developing country like Bangladesh, corolla and Camry are taken to be in PREMIUM car segment .
Urban & rural areas: More of Toyota car in urban areas then rural areas because of difference in- Infrastructure, purchasing power , literacy rates etc.
Demographic segmentation Family size:- Large family size as in Bangladesh would Increase opportunities for growth in sales of AVANZA .
Income:- People falling in category of upper middle high-income group and who have ability and willingness to buy, would go in for Toyota cars like land cruiser, prado, camry,etc
Psychographic segmentation Social class:- people who belong to upper middle class and higher social strata would opt for SUVs /MUV’s or sedan like camry etc.
Personality:- People who are in sporty attitude having unique style statement would settle forToyota altis sport model or fortuner which would exhilarate their senses.
Behavioral segmentation Occasions:- Festive seasons like EID, NEW YEAR because of low interest financing and discount people go in for purchase of cars. so more growth.
Benefits:- On purchase of a car , customer would also look for various benefits adjoined with the main product like Bluetooth connectivtiy.HID headlamps, cruise control etc.
Attitude :- Person desiring an executive look ,would surely settle for Corolla, Camry, Prado etc.