Toyota Target Market Analysis
With the sluggish economy, successfully marketing new automobiles has become extremely important. Each manufacturer has to identify and target a market segment. We were able to identify and analyze the target markets of Toyota, Buick, Kia, and Dodge.
Toyota’s recent marketing targets women for several of their models. This is evident by viewing some of their recent television commercials. For example, the Toyota Prius “Harmony” commercial is geared toward women and evokes emotion. Another commercial showing a father and son at a carwash also targets women because it focuses on relationships and reliability, which are both important to women. Toyota has also released “Mommy Like” commercials for the Toyota Sienna mini-van. Most Toyota commercials focus on the brands reliability and safety, which are two of the most important features for women. Targeting women is a very smart marketing strategy for Toyota because women influence 80 percent of purchase decisions and make 50 percent of new vehicle purchases (Edmunds.com). The price for a new Toyota ranges from $22,000 up to $65,000. These prices reflect the company’s attempt to design vehicles from basic to luxury and market them to consumers from lower middle-class to upper-middle class. There are many high-end car companies. While there are companies who market more expensive cars, we chose Buick because of their advertising strategy. We have not seen many Buick commercials, however, the few times we have, it was advertised during a golf match. Each sport is appeals to different demographics. The demographic that enjoys golf include individuals who are “40 years old, married, [with a] household income over $85,000 . . . 60% of frequent golfers have $100,000+ in investments . . . 23% of golfers plan on buying or leasing a new car within 12 months” (Golf Direct Advertising). With a quarter of the golf market planning to buy a car in the next 12 months, Buick is wise to...
Please join StudyMode to read the full document