Submitted by: Submitted by mariek12
Views: 10
Words: 951
Pages: 4
Category: Business and Industry
Date Submitted: 11/18/2015 12:55 PM
Dr. Shah
Mk 3010
TOYOTA MIRAI
Toyota is the world’s largest automobile maker by sales. Recently, they came out with their latest car model: the Toyota Mirai, which is a hydrogen fuel cell vehicle. One of the first hydrogen fuel-cell vehicles to be sold commercially. The Mirai was unveiled at the November 2014 at the Los Angeles Auto Show (Wikipedia). Toyota plans to build 700 vehicles for global sales during 2015. How should Toyota position and differentiate this car for it to be a success? What should be their target segment? What should be their price strategy? And most of all how should they use the social media to arise awareness around this innovative car?
Mirai meaning “ the future” in Japanese was the name Toyota chose to give to its latest car, expressing revolution. It is Toyota’s first car fueled by hydrogen and is said to be environmental friendly. It is a good idea that they produced in few quantities to “test “ the sale of the car. They started in California in eight chosen dealership because they are close to the hydrogen refill stations and they have the expertise of selling high tech cars.
Positioning
Toyota should position its Mirai as the car of the future; it is Toyota’s first car running on hydrogen. A car that offers 300 miles per fill, planning in offering years of free refill in each of the station. Comparing to the Hyundai Tucson who takes 10 minutes for its tank to be filled, the Toyota Mirai only takes 5.
The Mirai should differentiate itself by its built-in quality, its elimination of waste and its faster throughputs. It has many innovative features that can be used to show-off the car and position it among the top fuel cell cars.
Target segment
Toyota should make the car more available to people in other states. Building the hydrogen stations infrastructures may be very expensive but that’s what they should do if they want to target more people for the Mirai. Therefore, the target market would be consumers who are...