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MMIP Final: Marketing of the Toyota Camry
Firm: Toyota
Camry Deidra Viers
Strategic Marketing Management BUSI 520-B01
Dr. Keith Bowery
Liberty University
07/07/21
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MMIP Final Marketing of The Toyota Camry
This paper will identify all the aspects of Toyota Motor Company’s marketing initiatives
for the Toyota Camry. It will show their strengths, weaknesses and how they overcome some
obstacles along the way and still have become the top selling sedan. Toyota maintained their
dominance in the automobile industry through marketing variables such as internal and external,
positioning, competitors, branding, pricing, distributions, and promotions.
Description of the Toyota Camry
The Camry is an automobile that is part of the sedan family. The car is sold
internationally by the Japanese manufacturer Toyota. The Camry was originally compact, and
later models grew to fit the mid-size classification. Since Toyota released the wide-bodied
version of the Camry, Toyota was praised as having the firm's second "world car."
History of the Camry
Toyota Motor Company is a Japanese-born company founded in 1937. They design,
manufacture, assembly, and sell passenger cars, minivans, commercial vehicles, parts, and
accessories in Japan, North America, Europe, and Asia. Toyota is the eighth largest auto
company in the World and the leading auto manufacturer. The Camry was born in 1982. The
Camry is a Lexus with fewer luxuries (Retchin, 2007). The U.S. got approval from Japan to
make the model differences in how the Camry has made width and length.
Current or Possible Global Marketing Efforts
Brand equity in the strategy of Toyota Motor Corporation is the World's 6th most valuable
brand and ranked 10th in a list of global 2000 companies (Forbes, 2019). The Camry popular
among customers is the up-to-date applications and features such as push-button ignition and
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keyless access. The Camry has become one of the most popular brands in the international
market.
The Camry has a market in Asia and Australia. It has manufacturing plants in different
locations, which helps reduce the actual cost of the vehicle. Retailers and dealerships are vital
distributing channels. The Toyota Company uses a market-oriented strategy for pricing based on
the market at a particular place (marketing91, 2019).
Toyota's Mission
Since the 1970's when Toyota's operations became international, they saw their behavior
and values of employees in different locations, which created a need to compile their ideas and
way of thinking. A mission statement was made that described Toyota's values called "The
Toyota Way 2001." "It became the corporate vision and mission showing the culture that should
exist within the company" (Hibino, Noguchi, Plenert, 2018). There are two pillars of the
Toyota Way 2001: 1) Wisdom and Kaizen, 2) Respect of Humility.
Camry's Competitive Strategy
The Camry has had great success in efficiency and quality. Toyota Motor Company has
helped with this because of its network of suppliers in Japan and the U.S. They also have a state-
of-the-art assembly team. They have human and capital asset resources and management
practices. The Japanese told them in the beginning that they should not produce care because it
would require two things that the Japanese economy was very short on, and that was Petroleum
and Ore. Toyota went on to create suppliers. Now they are at the forefront of the automotive
system, and the Camry is one of the top-selling sedans to date.
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SWOT Analysis for Toyota
Strengths
Toyota has a strong market position and is indifferent geographies across the World.
Excluding Minivans. Toyota in Japan in FY2012 was 45.5% of the company's market share.
"The companies strong market position gives it a significant competitive advantage and helps it
to register higher sales growth in domestic and international markets" (Toyota Motor
Corporation Report, 2013). Strong market positions allow the company to gain a competitive
advantage and expand into international markets.
Toyota has an excellent Research and Development team to expand its product. They
have 14 facilities worldwide. They not only focus on new products but improving the
capabilities of existing products. During the year 2020, Toyota produced 322,140 Camry's in
the United States.
Weaknesses
Toyota had several recalls in 2020; it is unknown how many, but in 2016 over 41,000
Camry's were recalled due to the airbags. These recalls could most certainly affect the brand
image and the overall sales. For example, in 2011, They had 111,000 models of Toyota and
Lexus models recalled. Later that year in Japan, Toyota recalled 181,000 vehicles. In 2012 The
National Highway Traffic Safety Administration launched an investigation into the potentially
faulty power window switch on the driver door of the Camry and RAV4. These types of
investigations can lead to significant fines. In 2012 Toyota had a decline in sales in certain
geographic needs. Together there was a total of 60.8% reduction in revenue across the
company. Opportunities
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There was an economic downturn in 2008 and 2009 which also brought along a decline
in revenues. However, in 2011 and 2012, there was a rebound. The automobile industry grew
by 8.9%, reaching $1,563.9 billion, which gave Toyota a chance to gain customers and increase
revenue.
2012 seemed to be a big year for the automaker. In June of 2012, Toyota and BMW
signed a partnership to develop a fuel cell system for future sports vehicles. The partnership will
boost the companies' technological know-how and result in the development of new products and
increase revenues. The future for the Camry may be a little slow. For now, Toyota announced
earlier this year that it was cutting back production for their vehicles in North America due to
shortages in "petrochemicals." It is uncertain how long this shortage will last. There will be an
opportunity for more hybrid Camry's on the market since the rise in gas prices. We do know that
Toyota is not the only Automotive company having this issue.
Threats
Toyota Motor Company faces intense competition from various other automotive
companies. The company expects this to continue to grow due to the globalization and
consolidation of the automobile industry. The factors that lead to competition are the product's
quality and features, the amount of time it takes for development, pricing, reliability, safety, fuel
economy, customer service, and financing.
Natural disasters can play a part in disrupting Toyota's production. The current Pandemic
slowed the production of cars due to the recent job losses. It will take at least a year to replenish
the output of vehicles back to where they were. The impact of revenue and profit has
undoubtedly taken a downhill turn.
Forms of Marketing Research
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Marketing Research Used to Gather Information on Potential Customers
The Camry is a luxurious sedan, and the marketing managers should target a specific
type of market. Such as middle-aged families looking for a luxury vehicle that is reasonably
priced and gets good gas mileage. Magazines and websites routinely compare the Camry with its
competitors. These reviews provide the consumer with depth knowledge about the product.
Which Forms of Marketing Research Would be Best in Gathering Consumer Information
Relating to the Camry?
Toyota focuses on what the Customers need and want. The best way to get this
feedback is directly from the seller or the dealership. The dealerships are the ones who hear
from the consumer. There are also focus groups that compile information daily from Toyota's
target market. To get a better idea of product demand for the Camry, Toyota uses market
analysis.
External Forces That Affect Toyota's Marketing and Planning and Strategy
Toyota's marketing success is clearly because of the company's ability to exploit
opportunities and respond to threats in the automobile industry. The automotive industry is a
race against time to exploit opportunities as soon as possible. Several external factors can be
identified that affect marketing plans, such as customers, competitors, economic factors,
segmentation, targeting, positions, price, place, and promotion (Thompson, 2018).
Right now, economic factors are affecting marketing planning and strategy. Just having
a good product is not good enough. The price also needs to be affordable, and you need the
product to be available. Like many other car manufacturers, with all the other economic factors,
Toyota is having problems getting its products.
With Camry being good on gas mileage, an external factor for Toyota would be the
natural world. Gas prices have recently soared, so this will cause the consumer to want a car that
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gets good gas mileage, which may pose a threat to Toyota's truck and SUV sales. Marshall &
Johnston (2018) state, at the rate the world is using oil, "it will be harder to get and more
expensive" (pp.96).
Customer Relationship Management (CRM) Program
Customer interaction is essential. Having that relationship helps your marketing team
make modifications, if necessary, but allows the design team to see what the customer's needs
are. Customer interaction creates customer loyalty and satisfaction. "Customer loyalty has
demonstrated time and again that investment in CRM yields more successful long-term
relationships with customers, and that these relationships pay handsomely in terms of cost
savings, revenue growth, profits, referrals, and other important business success factors"
(Marshall & Johnston, 2018, pp.116).
Toyota uses a CRM dashboard through Chatter which can send messages to a customer's
car and information about products and updates. Toyota has said this will not replace call
centers, point of sale, or outbound email, but this is another channel they could add to their CRM
strategy. Chatter is another way customers can talk to other owners and dealers, and Toyota can
capture this internally instead of going externally to get it.
Consumer Characteristics
Personal Characteristics
Personal characteristics define a person based on age and gender. Knowing a person's
character will help marketers better target that market. Take, for instance, the Toyota Camry; it
appeals to the younger and middle-aged generation. It is classy yet sporty and a mid-sized sedan
that is good for a family.
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Physiological Characteristics
Many physiological factors go into the consumer's process before making a purchase.
Motivation, attitude, perception, and Personality are just a few (Marshall & Johnston, 2018). A
person must be motivated to buy a car. Second, what is the attitude or beliefs about the type of
car they are about to purchase? Usually, these behaviors are learned. Maybe they have a
Perception that the dealership they are going to buy the vehicle from is the best one around.
Physiological characteristics can affect the whole buying process, and it starts with what we
created from memory.
Cultural Characteristics
Cultural characteristics are what drives consumer's behavior. Culture is what we learned
from childhood. Toyota is an excellent example of this because even though they are trendy here
in America, you do have some people who refuse to buy them because they are not American-
made vehicles. We would call this cultural characteristic.
Situational Characteristics
Situational factors can be both internal and external. They can be physical surroundings
such as seeing an ad for the Toyota Camry while watching a sporting event on TV or watching
the advertisement at a different location. It can also be a personal experience. If you wreck your
vehicle and need a new one versus your car breaks down and can be fixed instead of buying a
new one, you will probably fix your vehicle before purchasing a new one. Then there is timing.
People are more likely to trade around tax season when there is extra money for a down
payment. Timing is critical in the buying process. These are some examples of how certain
situations can affect our purchasing decisions.
Social Characteristics
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Humans want to feel accepted by their family and friends, and when we buy a new
car, we want them all to be accepting. Our family is the most influential group. They are the
ones who gave us our values. Everyone, at some level, wants to be accepted.
Market Positioning
How Toyota Camry is Positioned in The Market
Toyota's brand identity is reflected as Technological intervention (Research), reliability
and safety, and respect for the planet. Brand positioning would simply be finding a competitive
place of preference in the consumer's mind for your brand to consider your brand and not the
consumer's brand. Toyota used differentiation and low cost as generic strategies to gain a
competitive advantage over their competitors in the automotive industry. There are seven steps
to effective brand positioning:
1. Identify a specific target.
2. Define the Toyota market.
3. Understand your target's needs.
4. See brands through the consumer's eyes.
5. Don't be afraid to think big.
6. Imply Critical benefits.
7. Expose the brand's benefits to the target audience.
Positioning Statement
Toyota's positioning statement is as follows: Toyota will lead the future mobility
society, enriching lives worldwide with the safest and most responsible ways of moving people.
We strive to exceed expectations and be rewarded with a smile through our commitment to
quality, ceaseless innovation, and respect for the planet (https://global.toyota).
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Explain your Product Planning Efforts
According to our textbook, a product is "anything that delivers value to satisfy a need or
want and includes physical merchandise, services, events, people, places, organizations,
information, even ideas" (Marshall & Johnston, 2019). Products are classified in four ways:
Two classifications define the nature of the product, tangibility, and durability. The other two
classifications deal with who uses the product, consumers, or businesses. Understanding these
strategies is essential because your planning efforts are based on these classifications.
Toyota Motor Corporation introduced a lower-priced version of the Toyota Camry in
2004 to Improve the dealership profit margins for mid-sized sedans. The Camry is America's
best-selling car, but they only make a tiny profit margin (Rechtin, 2004. Over the last
decade, Toyota has made the Camry more attractive and eco-friendlier.
Explain the Products Current Life Cycle Stage
The rate at which a product goes through the life cycle is inconsistent. According to
Niederhoffer (2017), Fads come and go quickly, reaching only a few people but creating a lot of
buzz in the marketplace.
Growth
Toyota Camry is still in the growth stage. I believe they still have a lot of unfinished
products. The Toyota Camry was the first Hybrid vehicle to get recognition from the
government for being an environment-friendly vehicle (Divakar, 2015). Now that they want to
make electric cars for the environment, the Camry may be the first electric car approved. Toyota
Camry has found many ways to improve over the years. Thirty percent of Toyota's sales
revenue comes from cars (Boudette, 2014).
Discuss your Techniques of building the Equity of Your Brand
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Brand equity is a "set of assets and liabilities linked to a brand's name and symbol that
adds to the value provided by a product or service to a firm or that firm's customer's" (Marshall
& Johnston, 2019). Toyota Camry has been the best-selling car for more than a decade, with a
solid reputation for reliability, safety, and durability (Halpert, 2014).
When you think of the Toyota Camry, you think of a familiar car, and you associate that
car with Toyota. The marketing efforts they have made by introducing their brand to Nascar was
a huge step. The Camry has so much to offer, and it attracts every type of consumer.
Discuss Several Branding Decisions Recently Made or Appropriate to Make
A manufacturer's promise helps define the brand for the customer (Marshall & Johnston,
2019). When dealerships such as Toyota offer warranties for their vehicles, it costs them money,
but that is the only way they will be competitive. A warranty sends a message to the customer
about the product they are buying. It is a perceived message about quality and manufacturer
commitment. For instance, the Toyota Camry comes with a standard 5-year warranty with
unlimited mileage and 8-year unlimited warranty mileage for the hybrid battery. The warranty is
also transferred to the next owner if it is still in effect when the car is sold.
Companies spend a lot of time creating warranties and figuring out how to relay them to
the customer best. The Camry's warranty is a good one, although some dealerships offer a
lifetime warranty, you must figure 5-10 years is what most people keep their cars for, and some
only keep them for two years. The Camry has been a good fit for building a brand for Toyota.
Describe the Support Services and Post-Sale Service Arrangements Provided by the Firm
and Required by Buyers
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Support services are an essential part of a company's business because it offers customers
an appropriate place to vocalize their opinions to the company (Marshall & Johnston, 2019).
Toyota has a maintenance package that can be purchased during a new vehicle purchase, and this
package is called the Toyota Service Savers. By taking the Toyota Service Savers package, the
costs are covered in advance. This helps when sending the vehicle in for its regular maintenance
and not paying anything upfront.
Post-sale services are essential to Toyota and the Camry. That is what has kept the
Camry in sales all these years. The post-sale services are the processes that help ensure the
customers were satisfied (Marshall & Johnston, 2019). Meeting the customer's needs leads to
customer satisfaction, customer satisfaction leads to customer loyalty. If a customer is happy
with the purchase and service of their Toyota Camry, then they will return for another one when
it is time for a new purchase.
Explain your Pricing Strategy (penetration, skimming, competitor-based)
Toyota tends to be more value pricing. Value pricing tends to overtly consider the role of
price as it reflects the bundle of benefits sought by the customer (Marshall & Johnston, 2019).
Marketing managers want to make sure that the product exceeds the customer's expectations.
For example, Toyota Camry's may cost more than other vehicles, but you will repair them
more minor, they will last longer, are more fuel-efficient, and hold their resale value better than
other cars.
Marketing managers also base their pricing decisions on the fact that Toyotas are a loyal
brand, and once the customers buy them, they tend to repeat buy. Performance can be connected
to the value-added to the customer if the value added is used in the price setting. Satisfied
customers are willing to accept higher prices, even though the Camry's standard equipment has
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been upgraded. All Camry's and Camry Hybrids have remained unchanged from previous models
because of their value (India Automobile News, 2016).
Discuss Various Pricing Tactics That Have or Would Prove Effective in Stimulating Sales
“The "no hassle" price tag on cars seems to be the latest trend in the automobile industry.
"No hassle" means no negotiating the price” (Vargo, 1993). Although the "no hassle" price tag is
very persuasive to customers, there is always a catch. For example, Toyota Canada tried a one-
price policy for its new cars called the "Access Toyota Program." The major feature of the
program was "no-haggle" pricing. The focus of the program is to improve service quality.
“This, in turn, caused them to lose sales due to a price increase on their cars” (Zeng, Dasgupta,
Weinberg, 2015). Marketers use persuasiveness to attract customers. When customers approach
a purchase, they have some preconceived price in mind, and Product line pricing helps them
toward the best purchase match while comparing other offers. Toyota does not use the "no
hassle" price tag on their cars. Toyota knows they have a valuable product. That is why one
tactic they use is price lining. The Toyota Camry has already been priced up because of its
features and the competitors' pricing.
Toyota has put its accountants behind the wheel to help improve its product's reliability,
design and styling, and quality of service. Customers buy cars that give them extended
warranties on certain parts on top of the manufacturer's warranty. These competitive tactics are
what keep the Camry a top-selling sedan.
Discuss the Distribution Strategy Relevant to Toyota
“Distribution channels are a system of relationships among organizations that facilities
use for an exchange process” (Kim, 2007). Most companies have an intermediary or middleman
between the person who produces the product to the consumer.
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Toyota is one of the biggest car manufacturers in the World. "At the end of December
2012, Toyota had conducted business with 52 overseas manufacturing countries and regions"
(Toyota in the World, 2013). Transportation of cars requires characteristics of a transported
vehicle. Because of the global range of the automotive industry, one distribution channel
available is maritime transport. Toyota Motor Company uses maritime due to their global range.
They can transport cars via the sea from every place in the World to any given destination.
There is also the possibility of delivery of maritime consignments directly from the
manufacturers to the customer.
There are advantages and disadvantages to using maritime. Some of the benefits are low-
cost transport, long-range, large capacity, variety of transported commodities, low risk of items
getting damaged or lost. Some disadvantages are the time it takes for delivery due to the low
speed of the boat, weather, threat of water damage. Toyota has numerous distribution centers
and is contributing a significant amount to sea transport.
Explain Toyota's use of e-channels, e-retailing, or other non-traditional methods
of Distribution.
Since Toyota is a car manufacturer, most possibilities of e-channels or e-retailing have
been limited. You may be able to shop online, but you cannot pay or have it shipped. The only
thing you can do is get on the Toyota website and design the car you want. There are limitations
to what you can do. Unfortunately, now with the recent pandemic, the quantities of vehicles will
be limited, so what you may want or pick out online may not even be available for some time.
Even going to a dealership has been modified as to what you can do. Due to the recent economic
stresses, rise in fuel prices, and work from home numbers, there has been a pause on car
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shoppers. This is a reason for Toyota to step up their marketing for the Hybrid Camry. Now is
when shoppers will be online browsing for cars before they go to the car lots.
Elements of Promotional Mix
A promotional mix involves many different elements. Marketing managers will use
digital and social media marketing, advertising, sales promotion, public relations, and personal
selling. “The promotional mix is vital to marketing when planning” (Marshall & Johnston,
2019). Toyota uses all these elements to promote the Camry. They are on social media, and
you can look them up on the internet and TV and the radio, magazines, and newspapers. They
have sales promotions such as offering zero percent interest. Sometimes they will sponsor
special events, which is how the public relations team will get them publicity. They provide
One-on- One personal communication by the salesperson at the dealership. These are some of
the ways that Toyota’s marketing team communicates with their customers. There are pros and
cons to each promotional element mix, and it is the message that makes the most substantial
impact on the customers. Proverbs 14:23 says “All hard work brings a profit, but mere talk leads
only to poverty” (New International Version).
Explain Whether You Use a Push or Pull Promotional Strategy or a Combination of Both
Toyota Motor Company uses a combination of both push and pull promotional strategies.
In a push strategy, the channel of distribution and getting the offering into the channel. “Push
strategies rely on a combination of personal selling and sales promotions directed toward channel
members” (Varadarajan et al., 2001). Toyota does both, and they focus on personal selling by
way of dealerships and sales promotions. In a pull strategy, the focus shifts to more demand for
an offering directly from the end-user. Advertising, PR, or direct and interactive marketing can
be combined in different ways to target customers, creating demand that making the product
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available for purchase. According to Webster (2000), push and pull strategies are rarely used
mutually. Unlike the case with Toyota, they do use both mutually.
Use of Digital, Mobile, or Social Media Marketing
Social media offers marketers the ability to reach specific segments based on the criteria
that could not be achieved through other digital options. Social media has more of a wide range
of information and a networking platform. These days, you must talk about something, and the
advertisement will show up on social media.
Most of Toyota’s marketing is more digital than on social media. Mobile devices have
tracking on them so they know your location, such as if you had been searching for a Toyota
Camry and were traveling, your phone would pull up Toyota dealerships in your current area.
Elements of Toyota Advertising Message
Toyota produces countless advertisements in different media forms. Toyota also uses several
advertising communications messages such as cognitive ads, emotional ads, image ads, and
endorsements to attract its target audience. Toyota wants to set itself apart from other companies
and be a family-oriented company.
Toyota shared a recent message of hope and strength to encourage people to follow the
Centers for Disease Control and Prevention (CDC) COVID-19 guidelines. Toyota’s belief in
respect for people aims to inspire others. The message represents the values Toyota shares with
athletes who inspire people worldwide to reach their full potential.
Use of Sales Promotion, Public Relations, Live Events, Publicity, or Personal Selling
Sales Promotions and Live Events
“Sales promotions are an element of the promotional mix that helps to encourage an end-
user consumer to buy the product or service or for a salesperson or someone in the channel to sell
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it” (Marshall & Johnston, 2019). This element increases interest to the consumers. Companies
will use sales promotions to attract customers. Toyota’s goal is to make its brand stand out
among any other brand. They sponsor many sporting events, which gets them a lot of publicity.
Public Relations
Toyota will use Commercials as their public relations to build suspense to the new body
styles when they come out. They release the look to the public before they are ever available to
buy at the dealerships when cars get a complete makeover that seems to be when people want
them the most.
Personal Selling
Toyota uses dealerships for their personal selling opportunities. “Personal selling is a
two-way communication process between the salesperson and the buyer to secure, build, and
maintain long-term relationships with profitable customers” (Marshall & Johnston, 2019, p.385).
Toyota has most of its cars on the car lot so that customers can test drive them and sit in them
and get acquainted with the salesperson.
Areas for Improvement
Toyota had two major recalls in 2007 to 2010 which caused them to stretch their
production capability due to their growth. Heller and Darling (2012) said “it is through the
development and implementation of meaningful corporate leadership strategies that effective
crisis management becomes a reality for a corporation” (p,155). Since the recalls Toyota has
implemented a new safety system to their Production System to make sure their customers have
the safety features, they need, and Toyota regains the leading quality status (p.927-928).
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Recommendations and Conclusion
The Camry should continue to be marketed based on its reputation, quality, and economy
of price. Since the recalls have brought about the change that was needed, Toyota is able to
price the smaller competitors out of the market because of their quality product. Toyota should
also extend their car care warranty, compared to other company’s such as Honda it does not last
long, and they need to be more competitive.
Toyota has a great marketing management group which has helped them grow to be the
largest automobile manufacturer in the world. Toyota’s success has come from the marketing
company meeting the needs of the customers. If Toyota continues to meet these needs and
continues to meet these needs and continues to grow, they will be in business for a longtime.
Proverbs 13:11 says “Wealth gained hastily will dwindle, but whoever gathers little by little will
increase it” (English Standard Version).
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Description of the Product (or
Service) History of the Firm
Current or Possible Global Marketing Efforts
The Organization’s Mission and Mission
Statement
Organization’s Mission
Mission Statement
Firm’s Competitive Strategy
SWOT Analysis for Organization
Strengths
Weaknesses
Opportunities
Threats
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