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What is marketing strategy? The process of matching the organisation’s strengths to the customer needs, with the aim of achieving a competitive advantage in the market. The combination of product, price, distribution and promotion most suited to a particular group of consumers. • Goal: the create a sustainable competitive advantage in the market • All the elements of the marketing strategy that lead to the development of the competitive advantage require good understanding of consumer behaviour Marketing strategy process: • 1. Segment: understand consumers a. Determine the dimensions (age, geography, subculture) b. Determine the heterogeneity c. Define the needs & goals 2. Target: choose consumers a. Evaluate each segment in

To what extent is the film Pompeii an accurate representation of slavery in the Ancient Roman era?

For our initial strategy we wanted to choose a product line that would be most intriguing to customers in this poor economy. To initiate this we focused our products around better gas mileage, safety, and quality. In order to do this we needed to evaluate consumers’ needs and desires when making a high involvement purchase such as a car. We believe the best target market for this type of car would be a middle class family that does not have as much disposable income due to the recession in our economy.

Once the market introduction stage was over for the Prius, other car manufacturers started exploring the hybrid market. These manufacturers consisted of Ford and General Motors. While they were new to the market Honda, an already existing competitor, was coming out with more hybrid models offering one of their best sellers the Civic in a hybrid model. Once this happened Toyota had to take a difference approach for the Prius, now that there was more competition, Toyota needed to distinguish the Prius. Positioning is considered to be what consumers think about your proposed or current products in the market. Toyota needed to come out with a new marketing strategy to distinguish them, in a now crowded market. Toyota decided to present their Hybrid Synergy Drive to the market in 2003. The Hybrid Synergy Drive powertrain was capable of operating on either gas or electric and also both together to give optimum performance and power to the hybrid model. The Toyota Prius earned s few accolades consisting of best-in-class fuel economy and best-in-market fuel emissions performance. Toyota also lowered the costs of their

The Nissan leaf has been positioned differently for different market segments. According to Solomon, though the job of the marketer is to create value, build customer relationships and satisfy their needs, it is difficult, as in todays’ complex society people have different needs and therefore it is important to segment markets and target them individually, therefore markets are segmented into different segments on the basis of demographics; age and gender, family structure, income, race, ethnicity and social class (Solomon, 2013). Using these different criteria, marketers segment their markets, according to particular characteristics, which they share, and then target them accordingly. Targeting is evaluating

Marketing strategy is a method of focusing an organization's energies and resources on a course of action which can lead to increased sales and dominance of a targeted market niche. A marketing strategy combines product development, promotion, distribution, pricing, relationship management and other elements; identifies the firm's marketing goals, and explains how they will be achieved, ideally within a stated timeframe. Marketing strategy determines the choice of target market segments, positioning, marketing mix, and allocation of resources. It is most effective when it is an integral component of overall firm strategy, defining how the organization will successfully engage customers, prospects, and competitors in

Bill Gates, a man with a net worth of $76.4 billion dollars, and the founder of the corporation Microsoft revolutionized the way the modern economy works with his work on the computer. Microsoft would develop software that would be used around the world by billions of people, making Microsoft a cornerstone of the modern economy. However, this large control of the market would put Microsoft as a monopoly with its network effect.

At the present time, in order to establish a product in the market, it is considerable for the business organizations to adopt unique marketing activities and strategies. A marketing plan can be elaborated as an integrated approach or process to deal with the dynamic business environment and foresee future. In addition, a marketing plan is also important to understand the varying consumer buying behavior, to serve them in a finest way and provide them a high level of satisfaction (Kotler, et al., 2013). The idea of marketing is associated with the introducing strategies and tactics to advertise

In this particular session we will maintain focus on one particular vehicle product by Toyota, the Camry. The target market for the Toyota Camry consists of individuals from 18-60 years of age with a yearly income of $30,000 to $55,000. According to JD Power, buyer demand for the 2007 Toyota Camry is medium with 26% of buyers over the age of 56 and 55% of the buyers is male. These are just the buyer demographics for this year, make, and model. The Toyota Camry newer models have increased female buyer demographics especially with the sporty Camry Solara. The purchase of used Toyota Camry’s is greater in the female demographic than that of the male. Toyota’s primary target market however is the 16-21 year old market as the first sale is the most crucial. According to Art Spinella, vice president of CNW, states that “the chances of that person buying your brand again is almost seven times as great as it is getting someone else to come in and buy your brand” (Grimm, 2011). This is why Toyota among many other automakers are targeting the younger individuals also known as Gen Y as they make up for over 500,000 in new car purchases yearly and are able to purchase cars earlier in their lives.

In the marketing world, before releasing a product onto the market a company would carry out research in all spectrums to investigate the targeted audience. Once market research is completed, marketing or advertising is carried out so that the targeted consumers can purchase and the company receives an earned profit from sales. Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably (Chartered Institute of Marketing, 2009). Marketing strategies need to tick off consumer needs and demand. Companies follow a set of marketing strategies to be able to achieve their set mission goals. Strategies like segmentation, targeting and positioning of the market is used to analyse the

Microsoft Corporation, founded 1975, leads globally in the development and production of software and software-related services and solutions. Initially known for home computers, Microsoft, headquartered in Washington, now offers various operating systems and software for desktop computers. This multinational company strives to help the worldwide business community improve efficiency and productivity. A number of editions of Office are available, made up of different components but with Word for word processing and Excel for spreadsheets in every one. Some will then also include PowerPoint for presentations, Publisher for desktop publishing and

The Market Segment revealed it would be in the best interest for Toyota to select the “Differentiated Targeting Strategy” versus the “Undifferentiated and the Concentrated Targeting Strategy” (Ahuja, 2017).

Toyota is one of the world biggest vehicle manufactures. Toyota creates unique vehicles ranging from SUVs, to minivans, to sports cars and more. All Toyota vehicles are created with either combustion or hybrid engines. Toyota also creates automotive parts both for company and commercial use. Some of Toyota’s well know vehicles are the Corolla, the Lexus line, the Camry and the Land Cruiser. Toyota’s biggest competitors are Ford, GM and Honda. (1)

Throughout evaluation surveys by the consumers, Toyota has always configured the customers love their product because they deliver the reliability in their cars. Even after taking a setback like recalls on some of Toyota’s products, there still has been no hindrance in its sales and it has come back to after fixing all the glitches. Another reason behind Toyota success is that is focused on achieving a long-term business of their customer and it is also committed to delivering the best for the environment. Further in this paper will be discussed the specific primary and secondary markets Toyota targets and also what groups are targeted the most.

The purpose of this assignment is to investigate that what is marketing & what is the process involved in developing market strategies .So we will also try to find out what are the different options available in developing marketing strategies .Marketing itself can be defined as group of customers, consumers, clients and the distinction between want and need, from the perspective of Product and service functionality, dependence and performance Perception, ownership and use Value and meaning Branding, brand value and competitive advantage Marketing communications Projection of ideas and concepts to target markets. So throughout the assignment as marketing manager we will try to find out how to develop marketing strategies.