Toyota Promotional Strategies

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Marketing, promotional and pricing strategies are critically important in determining the success of a company. While industries usually have similar characteristics and present similar conditions to the businesses operating in it, different companies have different external and internal circumstances which call for different strategies to be adopted (Nijssen & Frambach, 2010). The adoption of one promotional strategy or another may be the difference between one company’s success and another’s failure. The automobile industry is one of the industries has very many companies hence the cutthroat competition for market share. Globalization of the industry has made it necessary for automobile manufacturers to adopt international marketing, pricing and promotional strategies in order to effectively compete (Paley, 2006). GM and Toyota are the largest automobile manufacturers in the world thought their promotional strategies could not be any more different. Toyota's strategies have been more effective than GM's over the last decade. This has made Toyota overtake GM as the largest vehicle manufacturer in the world.
Promotional Strategies in the Automobile Industries
Each industry will usually have an industry standard which is deemed to be the most effective strategy given the circumstances and dynamics. Companies which are usually successful in marketing such as Toyota or Mercedes Benz are usually companies which adopt a given strategic marketing model in standing out from the competition (Doole & Lowe, 2008). In the automobile industry price, type of vehicles and consumer orientation play a key role in the success of the automobile manufacturer. Companies such as Mercedes Benz and BMW make use of the aspect of pricing and ...

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...s gives the consumer an emotional attachment which results in possible purchase and subsequent brand loyalty.
Marketing, promotion and pricing of automobiles in the current context of enhanced competition calls for the application of strategic management. It is critical that the organization gather as much information as possible regarding the strength of the competition, market demographics, and its internal contexts in order to differentiate itself and be effective in this market. The entry of companies such as Toyota which came up with new ways of doing things can offer important insights which would be of great importance to other companies wishing to replicate Toyota's. While Toyota has done a lot in terms of marketing its products and becoming the leading manufacturer it needs to keep on developing in order to continue to lead the
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