Choose a multinational corporation that you have some basic familiarity with. “Identify and critically discuss the key issues involving the strategic choices that you believe confront the...

Strategic move of Toyota while launching Toyota Prius
Executive Summary
A comprehensive marketing program is the one which helps a business to achieve its
objectives. It has an alignment of marketing activities with Strategy objectives to make sure that
the company has a right direction and focus. It defines the choice of markets to pursue and
Marketing mix to reach and it focuses to create value for customers. Advantages of a
comprehensive marketing program as it identifies wants and needs of consumer, it helps in
determining the demand for product. It also helps in understanding the competitor’s strategies
and the most important it helps in identifying the cons in the business. (Harris & Rae, 2010)
Strategic Marketing: As defined as by David Aaker “as a process that can allow an
organization to concentrate its resources on the optimal opportunities with the goals of increasing
sales and achieving a sustainable competitive advantage” (Keller & Kotler, 2012)
Many organizations are using a modicum of marketing approaches and marketing tools.
But there are only a few ones who are capable to engage themselves in comprehensive and
sophisticated form of Integrated Marketing communications. The reason behind is that there are
professionals find it difficult and different to understand. This time delay is not acceptable to any
firms, thus they go for an easier and a quicker option rather than going for mature and
sophisticated programs which are better for their situation. When they get disappointing results
they get disillusioned with marketing. (Jagersma, 2006) There are enormous potential IMC offers
but firms are not using it which is disappointing. The automotive sector is US is going through a
major change. It is now the second largest by volume after China. Traditionally US has always
sold large cars and utility vehicles, but with increasing fuel prices and growing concern for the
environment, more and more small cars are being developed and sold in the US market. New
technology like hybrid car technology has also started playing an important role in the industry
and its changing landscape. (Wayland, 2013)
Toyota Prius Marketing Strategy
Toyota’s Prius is a full hybrid electric mid-size hatchback. It is considered amongst the
cleanest vehicle currently sold on a commercial scale in the U.S. It began selling as a compact
car and currently the best seller third generation is a mid-sized, front wheel drive hatchback. The
Prius sales represent a sizeable portion of the hybrid sales of Toyota. It is sold in 80 countries
with the U.S, Japan and Europe being its largest market. The tagline is “Planet’s favorite
hybrid”. (Toyota, 2013)
Toyota has done well with its Prius becoming one of the top sellers in the segment; it
should continue to venture more into the greener technology segment as culturally there is a shift
towards this segment in the developed countries. The purpose of the report is to analyze and
understand the strategies Toyota dealt with the launch of this new brand Prius and what
differentiation it led to the market. (Dunn, 2013)
Strategic Challenges
Another change which has an impact on the auto industry is the current economic
environment. The economy slowdown has had a profound effect consumer purchasing power
and spending habits. Keeping this in mind Companies like Ford have expanded its portfolio to
include cars that suits every budget. (Heller & Darling, 2011)
The automotive sector is US is going through a major change. It is now the second largest
by volume after China. Traditionally US has always sold large cars and utility vehicles, but with
increasing fuel prices and growing concern for the environment, more and more small cars are
being developed and sold in the US market. New technology like hybrid car technology has also
started playing an important role in the industry and its changing landscape. (Wayland, 2013)
Some Strategic challenges that the company faced while implementing the Green project:
Car manufacturers are facing growing political and consumer group pressure to produce
cars that are...