pranjal mundra iitr_ppt
TRANSCRIPT
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CHAPTER 11: SETTING PRODUCT STRATEGYMarketing Management by Kotler
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What is their Product
Strategy?
How does Toyota do it?
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PRODUCT DIFFERENTIATION
•Customization
•Reliability
•Features
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PRODUCT MIX•The Product Mix Width and Product Line length of Toyota. Has a car from cheap and reliable to Luxurious
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PRODUCT MIX contd.
• Follows both Product Line Pricing and Optional-Feature Pricing
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ADVERTISING• “Lets Move Ahead”- the recent tagline, general for every product
line.• For the luxury brand Lexus a different tagline.
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Manufacturing strategy to
complement it
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Integrated its assembly plants around the world into a single giant network.
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Toyota has built a huge manufacturing company that can produce millions of cars each year for a wide variety of consumers. Why was it able to grow so much bigger than any other auto manufacturer?
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• Line Modernization• Line Filling• Production techniques and mass customization.
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Has Toyota done the right thing by manufacturing a car brand for everyone?
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• Again, its in line with its production techniques.• Its target is high market share and market growth.• Sales & Profit reasons.
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THE DOWNSIDE OF LINE FILLING
• In 2009 and early 2010 there were a lot of recalls for almost all the product lines of Toyota.
• This hit Toyota and its sales hard.
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• Part 1: Did Toyota grow quickly as Toyoda suggested?
“We pursued growth over the speed at which we were able to develop our people and our organization”- Akio Toyoda, President of Toyota.
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• Self-cannibalization• Satisfied the internal need.• Toyota which prides on its employees went lagging
with the speed at which its technology was growing.
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Continued…
What should the company do over the next year, 5 years, and 10 years?
How can growing companies avoid quality problems in the future?
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RECAP• Toyota’s brand image and positioning• Its product differentiation• Product Mix• Advertising• Production Techniques• Questions 1, 2 & 3 from the mini case
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DISCLAIMER
Created by Pranjal Mundra, IITR , during a marketing internship under Professor Sameer Mathur, IIM Lucknow