Analysing Marketing strategies, Toyota (Yaris) Essay

Analysing Marketing strategies, Toyota (Yaris) - Essay Example The company is proud of its progress and achievements which is dedicated towards the satisfaction of the customers. Toyota believes in innovation, is customer oriented and is a well organised company. The vision of the company is to provide commitment on the basis quality and mobility. The mission of the company is to provide safe and sound journey to the customers, use new technologies for innovation along with creating a prosperous society following the standard norms of the industry. The Toyota cars have over the years delivered assured superior quality with various cars category. Toyota offers cars for varied segments wherein a few are multi premium vehicles, luxurious cars and hybrid/green cars. The vehicle of Toyota, Yaris which is a sub-compact passenger car, is one of the most affordable cars and the smallest one which is sold by Toyota especially in the market of the US (Toyota, 2012). The Yaris is offered as a ‘four door sedan or five back hatchback’. Toyota Ya ris has added various innovations in the car which makes it compatible to compete with true Honda Fit along with making it one of the most versatile offerings. Toyota Yaris launched its second generation model in 2012. The car as compared to the first generation is about 3 inches long and more specifications are added. The looks, features and the price of the Yaris are better as compared to the first generation products. It is one of the smallest cars with technological innovation and is cheap, reliable with enhanced quality (Toyota Motor Sales, 2013). The brand Toyota Yaris is introducing relative marketing processes to create brand loyalty. The objective of the study is to evaluate Toyota Yaris’ marketing strategies which are implemented for the success of this unique brand. The competitive behaviour and the environment based on the PESTEL analysis are evaluated. External Environment Analysis PESTEL Analysis PESTEL is an analytical tool which is considered to evaluate the e xternal factors impact on Toyota Yaris. PESTEL is used to summarise environmental factors which influence the organisation and its future strategies. PESTEL assists the company to think proactively in the ever-changing environment to resolve the issues which can be faced by it in the operational activities. The use of PESTEL analysis would facilitate to evaluate the environment of the United Kingdom and the United States both of which seem to be quite lucrative for Toyota (Hoque, Faruque, Shahid, Pasha & Rahman, 2013). Political The government policies, rules and regulations affect the infrastructure of a country and hence influence the environment of the industry. The political factors refer to the political pressure, current environment of the country and the effective cost of operations to be faced by the industry. The government policies are an important influential factor for the sustainability of any industry in a particular country. The political factors impose costs on the i ndustry such as taxes, and at times provide relief as well. Toyota Yaris which is a sub-compact car got the support from the US government to improve its production. This has helped Yaris to increase its sales in the USA. The government has taken initiatives to improve the production by executing policies such as the Energy Policy Act among others. The fuel efficiency of the car has made it one of the most popular new generation cars the UK as well (Hoque, Faruque,