Toyota - Analysis and Recommendation of Media Plan

Analysis and Recommendation of Media Plan

Toyota's accomplishment can be very much credited to the high quality of its automobiles. The company's constant aim to develop new products and improve the existing ones is one of the many reasons why Toyota remains to be a market leader in the automobile industry.

Quality of the products plays a major role in the success of a company. But quality is not everything. The achievements of a company also depend on the formulation of a good media plan. Proper identification of objectives, implementation of the appropriate strategies and tactics, creating the right media mix, and efficient allocation of resources are critical to a company's success.

The company's research and development is one of Toyota's core competencies. Toyota aims to allocate a significant portion of its budget to continue finding new ways to cater to the constantly changing needs of the market. It is one of the first companies to mass produce hybrid cars. In the U.S. market, Toyota Prius is currently the market leader for hybrid cars capturing 51% of the market share with 1,175,034 units sold as of April 2012 with Toyota Camry Hybrid coming in close second.

Toyota's target market is very diverse considering the fact that they offer a wide range of automobiles, from sedans to compact cars to trucks to vans to hybrids. Nevertheless, Toyota has never failed to properly identify the correct target market for each specific car model they manufacture. That is why the company has to make use of various media communications to reach out to their distinct target markets.

ADVERTISING CAMPAIGN

New car model means new advertising campaign. Especially when the car involved is one of the company's classic models. Toyota has launched its advertising campaign "It's ready. Are you?" to promote the 2012 Toyota Camry campaign. The advertising campaign emphasizes the "reinvented" Camry XV50 equipped with improved features and specifications as compared to its Camry XV40 predecessor. It is meant to highlight to the target market the different features of the new Camry that was not included in its predecessor such as the blind spot monitor, voice-activated search, and improved noise insulation. The campaign was released on print ads, digital media, out-of-home boards, and social media elements.

Aside from the aforementioned advertising campaign, Toyota is also set to launch an interactive Xbox live ad campaign wherein subscribers get to vote on what devices they want to see "reinvented" just as the company with doing with many of its vehicles. This is one effort of Toyota to reach out to the consumer market to find out about the people's needs and wants, what goes on in the minds of the