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What is targeting strategy employed

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Question

Part 2, your goal is to complete a marketing plan based on Toyota Prius of the Toyota Motor Corporation. The marketing plan is strategically providing directions for what you believe the company should do over the next three years regarding the growth strategy you identified in

Part 1. With additional research regarding the company to complete the following:

1. Targeting and Positioning Strateg

What is the targeting strategy employed by the company, what is/are the current segments targeted by the company, and should the company change its target market strategy, or the segments pursued? Support your answers.

What is the current positioning in each targeted segment and what is your recommendation for next year?

2. Marketing Mix Strategy - use all the elements from Final Project Part 1 and your answers in above to complete the following:

Product

Assess the current product portfolio strategy (single product, line, multiple lines) and make a recommendation for next year.

Assess the current brand strategy and alignment with positioning. How should the brand continue to develop brand equity and loyalty?

Price

Does demand seem to be elastic or inelastic and why? What is the current pricing strategy in each targeted segment and should pricing be changed?

What competitors have similar strategies and what other possible threats should the company consider?

What impact to you believe your pricing decision will have on profitability and sales?

Place

What is the current distribution network strategy and what would you recommend for next year? What competitors have similar strategies and what other possible threats should the company consider?

Promotion

How are promotions used throughout the various stages of the purchase decision process? What recommendations do you have to improve your efforts?

How are promotions used to suggest similarities and/or differences between brand and competitors? How do competitors promote?

What would you suggest being an appropriate measure of promotion effectiveness?

What percentage of the annual budget is used for IMC and what would your recommendation be for next year?

Reference no: EM133879825

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