Essay: 4P’s of Toyota Hybrid Electric Car

Essay: 4P’s of Toyota Hybrid Electric Car
April 23, 2011 Comments Off on Essay: 4P’s of Toyota Hybrid Electric Car Academic Papers on Business Studies,Sample Academic Papers admin

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This essay discusses 4p’s of Toyota hybrid car.

We can say this without a doubt that whatever they do they do it better than any other since they are the world’s largest profit making vehicle manufacturer. The answer to how they do it is both simple and complex, but let’s keep it simple. Persistent quest for the highest possible quality has resulted in a product with top of the line reliability that customers want. Good styling and lots of new product launches enabled Toyota to build strong brand recognition. They are known for good service at their dealers and excellent warranty practices (Kurani and Turrentine 2001).

The strong product means Toyota can often command higher prices than other “comparable vehicles” in the market place. Reliability pays, the customers know it, and they’re willing to pay a bit extra for it. Another important reason why they can offer a reduced price is because the company pays special attention towards their waste management system. At Toyota waste elimination is given top priority which helps in reducing cost which eventually helps is preserving the company’s profit growth.

Toyota’s strong commitment to its dealers has resulted in an exceptional distribution system that is effectively managed at all levels. Throughout the years Toyota has had good advertising that is instantly recognizable and delivers a consistent message. As the automobile industry demands innovation in terms of product design, performance, and features Toyota largely focuses on its product design. Apart from product design the company spends a heavy amount every year on its advertising, which gives them the right channel to market their novelty towards the customers. Also this helps Toyota to catch the attention of most of the auto consumers worldwide (Gutsa, 2009).

Apart from its reputation and reliability one more important reason of Toyota’s tremendous success is its marketing skills. Their effectiveness lies in targeting consumer’s needs and wants and then fulfilling them accordingly (Gutsa, 2009).

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