10 step marketing plan v61 18

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10 step marketing plan v61 18

  1. 1. 10 STEP Marketing Plan for TOYOTA INNOVA Lynie J. Tumabini October 2013 http://lynietumabini1.blogspot.com
  2. 2. Disclaimer This 10 Step Marketing Plan for Toyota Innova is part of the mandatory requirements of Prof. Remigio Joseph De Ungria’s AGSB marketing management class. The data included in this report are based on publicly available data such as those on internet websites, news, package declarations, public reports. When appropriate, data are “masked” so as not to create unexpected conflicts. The reports are posted and linked on slideshare, blogs and facebook so that there is easier sharing among students from different marketing classes. http://lynietumabini1.blogspot.com
  3. 3. Steps 1 to 5 Everyone loves the Innova 1. 2. 3. 4. 5. Toyota Innova PTM are families and everyone Who want an all purpose vehicle with excellent performance and quality, safe drive, fuel & cost efficient, comfortable, spacious, best value for money Can choose Mitsubishi Adventure, Isuzu Crosswind, Nissan Grand Livina, Mitsubishi Fuzion Gap is all other brands of the same category are more known for a typical family AUV focus mainly on fuel efficiency , affordable price, and durability. Half year of 2013, the market size is 102,571 registered vehicles in the Phils., Toyota Innova sold 7,331 units, ranked no. 2 and niched 7.1% market share http://bestsellingcarsblog.com/2013/09/05/philippines-6-months-2013-now-with-top-140-models-ranking/ http://lynietumabini1.blogspot.com
  4. 4. Steps 6 to 10 Innova is best value for money 6. 7. 8. 9. 10. The New Innova is a MPV with smart engine power in 4 versions J,E,G, & V, available in 22 variants, luxurious interior & spacious cabin Price ranges from P 832k – P 1.246M Uses TV & print ads, sales promotions, events Has 32 dealers nationwide Uses differentiation approach, new-market segment & proactive marketing strategies http://lynietumabini1.blogspot.com
  5. 5. 1. The New Innova primary target market (PTM)*are families & everyone    30 yrs. old & above, male or female, S/M/HF/, managerial level, social class A,B,& C Working, driving with families as bonding moments during weekends, driving kids to school, gimmick with friends, meeting with clients, shopping at malls. Buying cars once every 3 or 4 years, car loan, uses car everyday at work, or school and other places. *Exclusion of a certain demographic group in PTM does not mean they do not buy the product. Some do buy, but majority don’t which is why limited marketing resources are best focused on PTM http://lynietumabini1.blogspot.com
  6. 6. Innova’s PTM needs……. I need a valuable MPV to keep me on the go To live life with the ones I love Reference: Maslow’s Hierarcy of Needs Marketing Management, 11 th ed, Philip Kotler http://lynietumabini1.blogspot.com 6
  7. 7. 2. PTM’s needs, wants & demands Needs: Car buyers need to belong (social), to be loved, to gain self- esteem and to achieve self actualization. Wants: Car buyers choose Toyota Innova because it’s a multi purpose vehicle for family, stylish, luxurious & spacious interior, powerful engine, prestigious, reliable and versatile brand, availability of model and parts. Demands: Car buyers expect to have safe drive, fuel efficiency, riding comfort with the style, performance and security of a SUV , best value for money. http://lynietumabini1.blogspot.com
  8. 8. 3a. Toyota Innova has many formidable competitors    Direct: Isuzu Crosswind and Mitsubishi Adventure Indirect: SUVs, compact, sedan, other non MPV/AUV. Variables: Age, price, brand, style & looks, comfort & convenience, durability, fuel efficiency, variant, advertising, promotional scheme, multipurpose, versatility, availability of parts, resale value, after sale service, credit facility & payments flexibility. http://lynietumabini1.blogspot.com
  9. 9. Innova is the # 1 choice in the wider area of market segment Price vs. Age Matrix Price/ Age Matrix High price 0-13 yrs 16-24 yrs as of 2013 25-49 yrs 50yrs up Montero Sports Innova Low Price Crosswind Vios Mirage Adventure http://lynietumabini1.blogspot.com
  10. 10. Innova positions itself as a differentiator in the market Benefit Positioning vs. Brand Matrix Functional Benefits Toyota Innova 2.5E D4-D MT Misubishi Adventure 2.5 GLS Sport-MT WARRANTY POWERTRAIN CHASSIS SUSPENSION AMENITIES SAFETY FUEL EFFICIENCY COMFORT STYLE RELIABILITY VERSATILITY http://lynietumabini1.blogspot.com as of 2013 Isuzu Crosswind XTI -MT
  11. 11. Innova has to add amenities and safety features for AT-GAS models Benefit Positioning vs. Brand Matrix Functional Benefits Toyota Innova 2.0G VVT-I AT as of 2013 Nissan Mitsubishi Grand Livina XV Fuzion Elegance 1.8L AT 2.4 GLS Sport AT WARRANTY POWERTRAIN CHASSIS SUSPENSION AMENITIES SAFETY FUEL EFFICIENCY COMFORT STYLE RELIABILITY VERSATILITY http://lynietumabini1.blogspot.com
  12. 12. 4. Innova positions strongly in a differentiation market opportunity    Innova has competitive advantage in Diesel MT models in terms of all functional benefits over Mitsubishi Adventure & Isuzu Crosswind. Isuzu Crosswind (MT-D), Nissan Grand Livina (ATGas) & Mitsubishi Fuzion (AT-Gas) are among the closest competitors. Innova has to add amenities and safety features in Gas AT models to be more competitive over Nissan Grand Livina and Mitsubishi Fuzion. http://lynietumabini1.blogspot.com
  13. 13. Continuation….. 4. Innova is the only all-purpose vehicle for everyone that…..      raised its level to a highly successful innovative MPV made to be dynamic and stylish to keep up your drive to live life with the ones you love provides a riding comfort with the style, performance and security of SUV best value for money highest rating in over-all performance in its category Traditional positioning emphasis on a family vehicle, that is fuel efficient, affordable, spacious and safe drive. http://lynietumabini1.blogspot.com
  14. 14. Continuation….. 4. “Positioning” brand identity from the maker…..    “Everyone Loves the Innova” Its no wonder why the Innova is the most love vehicle in the land. Made to be dynamic and stylish to keep up with your drive to live life with the ones you love. The new, redesigned Innova became an instant favorite “for its versatility that has attracted a wider area of the market. “This is one of the reasons it has become the commercial vehicle of choice for Filipino families across the country. It has held the No. 1 position in the AUV segment since it was introduced to the Philippine market seven years ago. This is a true sign that Filipino customers have come to love the Innova because of its Sure Advantages over the competition. - Michinobu Sugata, Toyota Motor Philippines president http://www.toyota.com.ph/vehicle-innova.php http://lynietumabini1.blogspot.com
  15. 15. 5a. Estimated market size of vehicle based from the survey Total market share of commercial vehicle from January to June 2013 = 102,571* (est. sales Php90B) 1. Pos 1 2 3 4 5 6 7 8 9 10 6m 2013 Model Toyota Vios Toyota Innova Mitsubishi Montero Sport Toyota Fortuner Mitsubishi Mirage Honda City Toyota Hiace Isuzu Crosswind Toyota Avanza Toyota Hilux % Mkt May-June Pos 2012 8,895 7,331 Share 8.70% 7.10% 3,129 2,742 1 2 1 2 6,969 6.80% 2,584 3 3 6,364 4,084 3,931 3,514 3,431 3,385 3,330 6.20% 4.00% 3.80% 3.40% 3.30% 3.30% 3.20% 2,264 1,362 1,246 1,252 1,129 1,122 1,131 4 5 7 6 10 11 9 4 n/a 9 10 7 5 11 * first time the 100,000 sales-milestone is passed after just 6 months http://bestsellingcarsblog.com/2013/09/05/philippines-6-months-2013-now-with-top-140-modelsranking/ http://lynietumabini1.blogspot.com
  16. 16. 5a. Estimated market size of vehicle Best Selling car                                         Rank 2012 1 2 2011 2010 3       1 2 3       1 2 3 4 5         Toyota Vios Toyota Innova Make Mitsubishi Montero Sports   Total Industry Sales:   Toyota Vios Toyota Innova Mitsubishi Montero Sports   Total Industry Sales:   Toyota Vios Toyota Innova Mitsubishi Montero Sports Honda City Toyota Fortuner   Total Industry Sales:     11,798           http://bestsellingcarsblog.com/2013/01/16/philippines-full-year2012-toyota-leads-mitsubishi-at-world-best/ http://lynietumabini1.blogspot.com Units Sold 14,979 11,805 182,955 14,979 11,805 11,798 164,825 15,391 12,608 12,247 8,914 7,548 168,490
  17. 17. 5b. Estimated market size of Toyota Innova        Toyota Motor Philippines Corp. continued to lead the market, accounting for a 40-percent share of total sales over a half year of 2013 (est. sales Php 36B= P90B x 40%) Total market share of commercial vehicle from January to June 2013 was 102,571 units registered (est. sales Php 90B=P6.5B/7.2%) Innova ranked no. 2 with the total units sold of 7,331 or 7.2% market share. Estimated sales in value is P 6.5B (lowest SRP P887k x 7331) Last year, Innova ranked no.2 with 11,805 units sold or 6.5% market share (est. ave SRP P887k x 11805 = P10.4B) 2012 total market size = P161B For Toyota Motor Philippines, the Innova’s market performance has been considered nothing short of phenomenal. As a testament to the demand for the Innova, every 16.7 minutes a newly assembled Innova rolls out the gates of Toyota Motor Philippines plant. http://business.inquirer.net/47911/toyota-innova-the-filipino-everyman%E2%80%99s-mpv http://lynietumabini1.blogspot.com
  18. 18. 5c. Estimated market size of vehicle based on consumer data 2012…     Est. total nationwide capacity per annum is 200,000 Average capacity per day 550 Estimated total investment for 2012 = P120B Out of 95.8M population in 2012, 34.5B age range from 15 & up http://www.nscb.gov.ph/ncs/12thNCS/abstract/invited/IPS-Industry,%20Trade%20&%20Business %20Statistics_Mills.pdf http://www.indexmundi.com/philippines/demographics_profile.html http://lynietumabini1.blogspot.com
  19. 19. 5. Concluded that vehicle market size is Php 161B Using 2012 data: 1.Competitor data= P161B (182,955 units) 2.Company data = P161B (11,805 units x lowest SRP Innova P887k / 6.5%) 3.Customer Usage data = P120B (200,000 units) http://lynietumabini1.blogspot.com
  20. 20. 6a. Innova and other cars point of sales are in showroom, car fair, company website…… http://lynietumabini1.blogspot.com
  21. 21. 6b. What makes Innova different as a product?    Only Innova carried on the highly successful IMV [Innovative International Multi-purpose Vehicle] platform features the riding comfort of a passenger car coupled with the style, performance and security of a sport utility vehicle. uses engine range of VVT-i and D4D boast of integrated technologies http://lynietumabini1.blogspot.com
  22. 22. 6b. Innova is the only MPV that has variety of choices http://lynietumabini1.blogspot.com
  23. 23. In DSL A/T model, Innova’s price is more flexible than Sportivo PRICE as of 9/1/2013 TOYOTA MITSUBISHI ISUZU MITSUBISHI NISSAN INNOVA ADVENTURE CROSSWIND FUZION GRAND LIVINA DIESEL/AT SPORTIVO X AT 8 SEATER   2.5 V DSL AT WP              1,205,000              1,246,000          2.5 V DSL AT         1,231,000          2.5 G LMT DSL AT WP         1,228,000          2.5 G LMT DSL AT         1,213,000          2.5 G DSL AT WP         1,186,000          2.5 G DSL AT         1,171,000          2.5 E DSL AT         1,057,000          http://lynietumabini1.blogspot.com
  24. 24. In DSL M/T model, Innova’s price range is > than Adventure & Crosswind PRICE as of 9/1/2013 SUPER SPORT DSL SE GLS SPORT 2.5 MT GLX SE 2.5 MT GX DSL TX 2.5 MT SPORTIVO X MT 8 SEATER SPORTIVO X JS MT 9 SEATER XT MT 10 SEATER XL MT 10 SEATER XS MT 6 SEATER 2.5 G LMT DSL MT WP 2.5 G LMT DSL MT 2.5 G DSL MT WP 2.5 G DSL MT 2.5 E DSL MT 2.5 J DSL MT MITSUBISHI ISUZU TSUBISHI NISSAN INNOVA DIESEL/MT TOYOTA ADVENTURE CROSSWIND FUZION GRAND LIVINA                               1,163,000          1,148,000          1,121,000          1,106,000              992,000              887,000                 963,000               913,000               853,000               718,000               675,000                                               1,140,000             1,140,000                883,000                794,000                750,000                                                          http://lynietumabini1.blogspot.com                        
  25. 25. In GAS A/T model, Innova’s price range is > than Fuzion & Grand Livina PRICE as of 9/1/2013 GAS/AT TOYOTA INNOVA MITSUBISHI ADVENTURE ISUZU CROSSWIND MITSUBISHI FUZION NISSAN GRAND LIVINA GLS SPORT GAS AT                             1,150,000    GLX GAS AT                       950,000    ELEGANCE 1.8L AT                       1,008,000  LUXURY 1.8L AT 2.0 V GAS AT WP 2.0 V GAS AT 2.0 G GAS AT WP 2.0 G GAS AT 2.0 E GAS AT           1,191,000          1,176,000          1,131,000          1,116,000          1,002,000                                                        928,000            http://lynietumabini1.blogspot.com
  26. 26. Innova has no competitor in GAS M/T model PRICE as of 9/1/2013 TOYOTA MITSUBISHI ISUZU MITSUBISHI NISSAN INNOVA ADVENTURE CROSSWIND FUZION GRAND LIVINA GAS/MT           2.0 G GAS MT WP         1,066,000          2.0 G GAS MT         1,051,000          2.0 E GAS MT             937,000          2.0 J GAS MT             832,000          http://lynietumabini1.blogspot.com
  27. 27. PRICE ANALYSIS TABLE PRICE ANALYSIS   as of 9/1/2013     ADVENTURE INNOVA HI-END CROSSWIND LOW-END HI-END FUZION LOW-END HI-END GRAND LIVINA LOW-END HI-END LOW-END DSL A/T      3.4% >   14% <          DSL M/T 20% >  31% >   2% >   18%  >          GAS A/T          4% >   5% >   18% >   8% >  GAS M/T                 http://lynietumabini1.blogspot.com
  28. 28. Concluded that Innova…      2.5 E DSL A/T model is 14% cheaper than Sportivo X  A/T DSL M/T is 2% - 18% higher than Crosswind and 2031% higher than Adventure Gas A/T is 4% - 5% higher than Fuzion and 8% - 18%  higher than Grand Livina Has no competitor in  GAS M/T model Use Differentiated Pricing strategy model http://lynietumabini1.blogspot.com
  29. 29. Toyota Innova uses both non-personal & personal modes of communications 1. 2. 3. 4. 5. 6. 7. 8. Advertising Sales promotion Public relations Events & experiences Direct marketing Interactive marketing Personal selling Word of mouth http://lynietumabini1.blogspot.com
  30. 30. 8a. Toyota Innova: promotions, product launch, trade show http://lynietumabini1.blogspot.com
  31. 31. Toyota website http://lynietumabini1.blogspot.com
  32. 32. Toyota Innova TV Commercial www.youtube.com/watch?v=-dIBa6rukIM http://lynietumabini1.blogspot.com
  33. 33. Toyota Innova communicates thru…    Website – promotes “Love” give emphasis on why everyone loves the Innova  “Love Moves In Different Ways” refers to engine VVT-i and D4D new technology that gives optimum driving performance on any road condition.  “Love Every Moment” offers comfort, excellent ride & drive quality, luxurious interior, additonal convenience and space cabin.  “Love at First Sight” offers sophisticated design and style Sales promotions such as price-off, discount, service maintenance promo, product launch (PR), trade show (Event) Innova TV commercial put emphasis on providing love of family http://lynietumabini1.blogspot.com
  34. 34. Mitsubishi Adventure: promos, website… http://lynietumabini1.blogspot.com
  35. 35. Mitsubishi Adventure communicates thru…   Website – “Get great space, value and mileage” Sales promotions such as raffle prizes, repair assistance program promo, balikbayan auto program, zero interest program. http://lynietumabini1.blogspot.com
  36. 36. Isuzu Crosswind: promos, website http://lynietumabini1.blogspot.com
  37. 37. Isuzu Crosswind communicates using…   Website -“Confidence behind the wheel” promotes quality assurance and worry-free drive. Sales promotions such as price-off, prizes http://lynietumabini1.blogspot.com
  38. 38. Innova’s communication standouts among its competitors…   Innova is the only vehicle that promotes intrinsic value that is “Love of Family”. Innova and its competitors use almost the same type of sales promotions in different period of time. http://lynietumabini1.blogspot.com
  39. 39. 9. Toyota has different dealers nationwide      Site visit on showrooms and test drive Nationwide Order thru Toyota dealers, website, phone call Pick up by customer Cash or financing transactions http://lynietumabini1.blogspot.com
  40. 40. 10. Toyota Innova generic winning strategy Which of the 4 strategies are being used? (bold and underline to most dominant strategy)     Low Cost Producer Supply and Distribution Leverage Differentiation Niche http://lynietumabini1.blogspot.com
  41. 41. SUMMARY 41
  42. 42. Steps 1 to 5 Everyone loves the Innova 1. 2. 3. 4. 5. Toyota Innova PTM are families and everyone Who want an all purpose vehicle with excellent performance and quality, safe drive, fuel & cost efficient, comfortable, spacious, best value for money Can choose Mitsubishi Adventure and Isuzu Crosswind Gap is all other brands of the same category are more known for a typical family AUV focus mainly on fuel efficiency , affordable price, and durability. Half year of 2013, the market size is 102,571 registered vehicles in the Phils., Toyota Innova sold 7,331 units, ranked no. 2 and niched 7.1% market share http://bestsellingcarsblog.com/2013/09/05/philippines-6-months-2013-now-with-top-140-models-ranking/ http://lynietumabini1.blogspot.com
  43. 43. Steps 6 to 10 Innova is best value for money 6. 7. 8. 9. 10. The New Innova is a MPV with smart engine power in 4 versions J,E,G, & V available in 22 variant, luxurious interior & spacious cabin Price ranges from P 887k – P 1.246M Uses TV & print ads, sales promotions, events Has 32 dealers nationwide Uses differentiation approach, new-market segment & proactive marketing strategies http://lynietumabini1.blogspot.com

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