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Marketing Plan Phase Ii Paper

1578 words - 6 pages

Toyota Corporation is planning on establishing a new business unit in the automobile industry. Toyota is looking into the hybrid vehicles versus the standard gas vehicles. Toyota understands the need for vehicles however we are at the mercy of other countries to supply the United States with the amount of gasoline Americans consume. Therefore instead of looking at other ways of obtaining gasoline Toyota has redefined their vehicles to be dependent upon electricity.Segmentation Criteria; Toyota is looking to target the younger generation and those people who have long commutes from home to work. The hybrid technology of the Volta is compatible in high performance vehicles. This new vehicle can go from 60 mph in 4 seconds and reach a top speed of 155 mph. However, the Volta will not be competitive with such vehicles such as the Lamborghini nor the Ferrari, but it will surpass both cars because it will definitely use a lot less gas. This is an important aspect because with the ever rising increase in gas prices, the hybrid vehicles are being considered more than the regular vehicles. Another consideration for consumers to remember and take into account is the fact that the Volta is economical and environmentally friendly, which seems to be a growing concern for all of mankind.Another factor to take into consideration is the size of the family. Most of the families that are looking to purchase this particular car fall into the middle to upper class. Therefore, just a glance at the Volta makes it clear whom Toyota expects to target with this particular hybrid automobile. The Volta looks very much like a sports car with a high technology design. The choosing of an automobile for any family should reflect and include the needs of the household and the purpose of the vehicle within the household. To solely look at individual car purchasing behavior is to ignore an increasingly important part of the decision-making process within families.When identifying the organizational buyers and consumers One of Toyota's primary thrusts is to broaden Toyota's appeal in introducing their hybrid vehicles fashioned for a younger age bracket and for those people with long commutes. Toyota established the hybrid marketing group to develop a range of vehicles for first-time buyers in Generation Y, young Americans born in the 80's and early 90's known to be savvy consumers of information with diverse tastes and high expectations.Toyota Hybrid Systems (THS) can also make a telling contribution to protecting the environment. These systems have enormous potential for future development, and their ability to utilize multiple energy sources will make them pivotal to realizing the ultimate Eco-car.The evolution of hybrid technology knows no bounds. Toyota launched the Prius in Japan, the world's first mass-produced gasoline/electric hybrid vehicle, in 1997, and worldwide sales have already reached 60,000 units, following the vehicle's release in North America and Europe in 2000....

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