Addressing the target market with regard to positioning
After choosing a strategy for reaching a target market, marketers must then decide how best to position the product (Boone & Kurtz, 2001, p.257). The concept of positioning seeks to place a product in a certain "position" in the minds of prospective buyers (Boone & Kurtz, 2001, p.257). It is the act of designing the company's offering and image to occupy a distinctive place in the mind of the target market (Kotler, 2003, p.308). Marketers use a positioning strategy to distinguish their firm's offerings from those of competitors and to create promotions that communicate the desired position (Boone & Kurtz, 2001, p.257).
How is Scion addressing its target market with regard to positioning and the product itself?
Toyota's approach with Scion's marketing has been very unique. Rather than blanketing the country with lots of television and magazine ads, its focus is on smaller, much targeted campaigns (Crouch, 2005).
Gen Y consumers are unique (Autoweek.com). They are information rich, time poor, and technology savvy (Autoweek.com). The psychographics of the target market include: intelligent, innovative, and influential (Autoweek.com). The demographics of the target market include: predominantly male; agetwenties to early thirties; urban diversity; college educated, and above average income (Autoweek.com).
In targeting the Gen Y crowd, Toyota found traditional ways of marketing did not work (Banks, 2005). Toyota views twenty-somethings as pretty jaded about marketing, so they've purposefully tried to position themselves as simply facilitating these "hip" events, such as putting on a great urban/graffiti art tour; hosting big popular nightclub parties monthly in 6 metropolitan cities; a tour of "cult music films" on college campuses; and distributing a magazine that includes funky pictures of customized Scions (Crouch, 2005). In Toyota's latest move, they've...