Essays on Marketing Plan for the Third Generation Toyota Prius Hybrid Case Study

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The paper "Marketing Plan for the Third Generation Toyota Prius Hybrid" is a great example of a marketing case study.   Marketing communication is the process by which a firm’ s information and its offerings are released to a certain segment of the market. Communication is essential in informing the buyer of the availability of an offering, its unique benefits and where and how to obtain and use the offering (Allred, Addams, and Chakraborty, 2007). Integrated marketing communication plan is a framework for the development, implementation and the control of the integrated marketing communication program of the organization (Davids and Newcomb, 2006).

It helps in the evaluation of the current situation of the firm. It is also fundamental in the determination of the role to be played by each element of the promotion mix. It also helps in developing strategies for each element of the promotion mix. The IMC plan enables a firm to plan for the implementation of elements of the promotion mix (Allred, Addams, and Chakraborty, 2007). Finally, IMC helps in the evaluation of the results from the implementation of the elements of the promotion mix.

In this paper, we write an integrated marketing plan for Toyota. Background Toyota Motor Corporation is a global automaker whose headquarters are situated in Toyota, Aichi, Japan. The firm was ranked in 2010 as the largest automobile manufacturer by production in the world. The firm was founded in 1937 by Kiichiro Toyoda (Toyota, 2011). The corporation is made up of companies such as Toyota, Lexus, Hino and Daihatsu motors in addition to other non-motors companies (Allred, Addams, and Chakraborty, 2007). Toyota entered the American market in 1957. Initially, the name Toyota was associated with toys and pets in American markets and thus it was dropped for some time although the name continued to be used in other markets (Ruskin-Brown & Clarke, 2000).

The company received the first Japanese quality control award in the 1980s and started to engage in motorsports (Toyota, 2011). The 1973 oil crisis saw many motor consumers turn to smaller cars which were more fuel-efficient. Since American car manufacturers neglected small economy cars since they were seen as entry-level products, their small cars were of low quality (Toyota, 2011).

During the mid-1960s, the USA imposed 25% tax on the importation of light trucks. As a consequence, Toyota and other companies started to build motor plants in the US by early 1980s. In 1990s Toyota entered the luxury market after the successful launch of Lexus in 1989 (Toyota, 2011). By 1997, the firm began production of the world’ s best selling hybrid car, the Prius. The firm also had a major presence in Europe. The firm was listed on New York and London stock exchanges in 1999 (Toyota, 2011).

The philosophy of the firm that has evolved over time is reflected in the terms “ lean manufacturing” and “ Just in Time production” that the firm is credited for their development. The values and methods employed by Toyota management are referred to as the Toyota way. The values of the firm are summarized into five principles: challenge, improvement, go and see respect and teamwork. In 2006, Toyota was the most profitable automobile company and in 2008 it was the largest automobile in the world (Toyota, 2011). the company has introduced new technologies in the motor industry (Toyota, 2011).

One of these technologies was the introduction of mass-produced hybrid gasoline-electric vehicles which the firm claims to have sold in excess of 2milion by the end of 2010. Toyota is present in all parts of the world and has manufacturing plants or vehicle assemblies for local markets.

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