Introduction Business survival depends on the marketing strategy used by the company. Toyota Prius has been a model of choice to many car owners. New car models have been introduced in the market; but for Toyota Prius, it has been a success. This leads to the analysis of the marketing systems used to market this particular product. This report will also analyze broadly the marketing systems and their importance to business environment today and in future. This report will also focus on the link between the marketing systems and the growth strategies of the Toyota Company.
A marketing plan is an essential aspect of a company; it should be based on accurate decision making and must be consumer oriented; because clients are the most important in any kind of business. This report also analyses the marketing systems for the Toyota Prius manufactured by Toyota Company. Marketing systems Marketing systems are any orderly process which enables the market players to make bids; marketing systems help buyers and sellers to interact freely and come up with business deals. The marketing system comprises of various mechanisms; price, qualifications, good reputation as well as clearing (Eric 2011, p. 100).
A market system basically relies on assuming that all concerned players are involved and that they are not equally enabled. A market system depends on markets to make allocation of available resources and to make the determination of the prices. There is an increase in specialization in the whole world; this makes marketing systems a must in business environment, this also makes the link between buyers and sellers to become dense. Specialization within markets is very crucial in increasing returns, this further leads to proper structuring and functioning of marketing systems.
A good example is the case of the Toyota Prius whereby, its unique design for motor vehicle; this is good strategy to offer a market for the Toyota products. Agents of marketing systems are mainly heightened by improvements in technology, institutional development as well as the infrastructure development (Roger 2009, p. 358). It is also worth noting that producer and the consumer or the agents of change participate in more than one marketing system at a given time; this depends mainly on the stipulation of the marketing system(s). Sometimes the marketing systems have economic independence as national policies, they are structured or they have a sense of purpose; they also have a major social function of providing categories serving the needs and the interests of the agents i. e.
Buyers and sellers forming the system. Marketing relies on the long and short term strategies of a company. Company that has a proper marketing strategy and follows a right marketing system in place for example the Toyota Company’s marketing strategy on manufacturing and distributing its new model of Toyota Prius.
As indicated by Wiclif (2010, p. 563), marketing systems varies with the product. Within the systems that are multilayered, categorization usually arises in the various layers. The perception of a marketing system mainly depends on its location in the marketing system, this may lead into disagreement which has an effect on additional of products and services or even on changes in the opening of new links within or I the existing marketing systems, the ending of the old links as well as innovations of major and minor products.
The degree of disagreements that is experienced by marketing systems is considered the most crucial agent for change in a marketing system. The elements are all interrelated thus contributing to the structuring and the normal functioning of the marketing system.