The Toyota Marketing Strategy

pic Introduction 1. Introduction Navana Limited stands as the certain allocator of Toyota simple machines in Bangladesh, so we feature chosen them to make a no-hit commercializeing plan on Toyota gondola political machines. Our atomic number 18a of parsimony was centered on the young systeml of Toyota Corolla-GLi. This is the latest elevator railcar of Toyota Corolla that has been recently launched in Bangladesh by Navana Limited in November 2007 at Japan address fair in Bangladesh. The taint name Corolla of Toyota is hearty kat oncen for producing cars for the common people scarcely this car is an upgraded model of Corolla. pic union Profile 2. Comp all Profile 2a. Company OverviewToyota tug Corporation is a multi demesneal corporation headquartered in Japan. Today, Toyota is the worlds adept-third largest manufacturer of automobiles. Providing the near reliable automobile for its customer is the Toyotas specialty. Toyota Motor Corporation recently celeb si ted its 70 years both as a carmaker and half a century of interchange cars in America. In 2007 Toyota sold 8. 52m vehicles and its net income rose by 20% and run $14 billion. Moreover Toyota is aiming to sell 10. 4m vehicles in 2009. In Bangladesh it is the most pop automobile beau monde to the car engager and it has almost 70% securities industry shargon in our country.It is alship stick divulgeal interested to get the attention of the three-year-old generation, family people, working executives, service be arrs, business people, in unmatchable word all kind of people. Its mission is to predict consumer trends and create a lineup of cars and trucks to profit on them. Each professional is expected to spend sentence egress in the field talking to car obtainers. The Japanese have a name for it genchi genbutsu go to the scene and confirm the actual happenings. With Toyota, one affair has never changed that their commitment to the communities where they do business.Toyota spends over billions of billion on R, fancy, manufacturing, gross revenue and grocery storeing operations. Over the world they have trades /service offices, fiscal service offices, R centers, holding familiarity, manufacturing facilities, object centers, Hino operation facilities, Supplier affirm etc. 2b. History Kiichiro Toyoda, fo at a downhearteder place of the toyota Motor Corporation, was born in 1894. His baffle Sakichi Toyoda became famous as he inventor of the automatic loom. Inheriting the inspirit of research and creation from his father, Kiichiro devoted his entire emotional state to the manufacturing of cars, which was an unknown edge at that clipping.In 1933, Toyoda Automatic Loom Works created a vernal division devoted to the crossroadion of automobiles chthonian the assumeion of the ensn arers son, Kiichiro Toyoda. Kiichiro Toyoda had traveled to europium and the United States in 1929 to investigate automobile intersectionion. After years of awkwa rd work, he finally succeeded in completing the A1 prototype vehicle in 1935. That was the beginning of the history of the Toyota Motor Corporation. Toyoda Automatic Loom Works was put up to develop automobile fruition by the Japanese government and direct AA passenger car was the fall outset merchandiseion model of Toyota in 1936. pic copy of the Toyota Model AA, the first point of intersectionion model of Toyota in 1936 Toyota Motor Co. was write out as an independent and separate company in 1937. The company was founded by Kiichiro Toyoda as a spinoff from his fathers company Toyota Industries to create automobiles. Toyota in any case owns and fates Lexus and Scion notices. Toyota is headquartered in Aichi, Nagoya and in Tokyo. In adjunct to manufacturing automobiles, Toyota imparts financial function by its division Toyota fiscal Services and withal creates robots. 2c. ware Line of Toyota Toyota engages in Bangladesh through Navana Group, under Navana Limite d.The reaping line of Toyotas grime parvenu cars, that atomic number 18 tradeed by Navana Limited and atomic number 18 available in Bangladesh are 1. TOYOTA Yaris 2. TOYOTA Corolla GLi 3. TOYOTA CAMRY 4. TOYOTA Avanza 5. TOYOTA Rav4 6. TOYOTA Fortuner 7. TOYOTA Prado 8. TOYOTA Land squad car 9. TOYOTA Hilux 10. TOYOTA Dyna 11. TOYOTA Hiace 12. TOYOTA Coaster pic Current foodstuffing detail 3. Current commercialiseing shoes thither is a huge foodstuff for automobile industry worldwide. In this globular earth people need to excrete with separatewises distributively and every minute. impartation is one way that facilitates confabulation.The market demand for cars rise and fall time to time, but the demand never fell to the ground. The current market situation of cars is a secondary un fixed for the fact that oil cost has arise signifi evicttly worldwide that has resulted in a decrease of car sale worldwide. The same has also affected the East Pakistani market. D ifferent car dealers have reported that car sale has dropped signifi washbasintly from last year, 2006-2007. at that place is also a rise in the car due to increase in woo of proceedsion. The steel price has risen signifi asstly worldwide. Japan, Taiwan, importers of steel, are swelled 27 to 30% to a expectanter extent for purchase steels.In Bangladesh, the governments rules and regulation imposed on import, duty and tax has also ca handlingd the market of cars to decrease. pic Product Profile 4 . Product profile 4 a. Mission, Vision, preys &038 oddment Mission The mission is to create a luxury vehicle that could go head to head with the worlds best automobiles. Vision scenery new industry measuring rods in operational excellence, market penetration, customer atonement and community commitment. Objective Corolla GLi is clear in its objective to produce the elements most engaging driving dynamics while maintaining the brands traditional ride quality. final stage From the outset, it is their goal to develop a luxury flagship vehicle that would be recognised as one of the finest cars in the world. 4 b. Products quality and features, design, packaging, brand name, special services Brand name Corolla GLi Features And Quality ? Powerful performance responsive and quick to please, the Corolla effort littlely generates the power for driving pleasure, recalling subtly smooth and stable performance. ? Advanced technology The Corolla generates outstanding power, minimizes its environmental equal, and provides warm reassurance. Wti technology base on driving conditions, it optimally changes the open/close timing of the uptake valve, contributing to increased torque and output, better fuel economy and cut Nitrogen oxides and hydrocarbon emissions. ? Crash safety body It is comprised of a high ace cabin with front and rear crumple zones that help absorb impact energy in a collision. ? Suspension The Macpherson strut suspension on the front and torsion b eam suspension on the rear were fine-tuned to provide excellent st major power and control, and ride comfort. Keyless entry system It lets to lock away and unlock the doors from a distance. ? Moon roof It incorporates one touch mode and a jam-protected system. ? Rear spoiler The rear spoiler integrated into the remains lid adds a sporty touch. ? Anti corrosion steel pelt The extensive use of anti corrosion steel sheeting protects the Corolla from rust, component part it to keep its goods looks for years to come. ? Immobiliser system It provides security against theft. The car stomach only(prenominal) be started when the ID in the electronic couple upes the ID code in the locomotive immobiliser system. give the sack Level warning ? Wireless door lock ? Audio AM/FM, CD Changer, 6 spk. ? Child protector ? Brake control valve EBD pattern ? Highly functional design The ergonomics- base design of the instrument panel with its easy-to-use switches engages the driver, providing sluttish operation that call downs driving enjoyment. Convenient functional features and various integrated fund spaces enhance comfort ? Dynamic and advanced With its dynamic and advanced design creating a high quality salaryling, the Corolla continues winning hearts and creative thinkers right almost the world. Sophisticated presence First impressions are compelling. The short-nose, long-deck proportions highlight the advanced ginmill styling. Together with its expensive cabin space, it exudes a distinctive presence. ? Generous air The captivating design creates a feeling of enormous possibility. The wide maltreat and generous appearance set the stage for the spacious cabin. ? Refined upcountry details The Corollas attention to details includes the distinctive curved design of the center console, the use of colors and textures, and the quality finish. Brakes Disc brake system on all four wheels, ventilated on the front, are standard for all grades, giving sure stopping performance. ? Windshield Glass immature Laminated ? Outside rear view mirror ? Color Oxygen detector ? Head Rest Front &038 Rear ? Rear Armrest with Cup holder ? Inside Rear view mirror Day &038 Night alter available in Bangladesh ? Super White 2 ? Silver golden ? Blue Metallic ? Turquoise mica Metallic ? Red Mica Metallic ? Grey Metallic ? Black Mica Packaging It creates a spacious, comfortable cabin with excellent headroom, together with ample trunk space. engine The compact, lightweight engine integrates sophisticated technologies, which contribute to its excellent performance and low gear fuel consumption. Extra Service ? Immobiliser system It provides security against theft. The car can only be started when the ID in the electronic matches the ID code in the engine immobiliser system. ? Keyless entry system It lets to lock and unlock the doors from a distance. ? CD changer 4 c. Products position in the market equalize to early(a) product of the company with BCG out return matrixBoston Consulting groups (BCG)s growth plow matrix is a table that gives an idea most virtually market growth rate compare to relative market share. The market growth rate on the vertical axis indicates the growth rate of the market in which the business operates. And the relative market share on the horizontal axis indicates the market share compare to the separate portions. It serves as a measure of the companys strength in that market segment For BCG growth matrix, we have selected four models of Toyota Cars to analyze GLis position in market compare to other models. Models are- 1. Corolla GLi 2. Probox 3. Yaris 4. Crown Relative commercialize Share High kickoff Market High Growth footstep Low HighLow High Figure BCG Growth Matrix Our analysis on Corolla GLi compare to others is described below- Star According to our observation, Probox waterfall into the position of Stars in the matrix table. Recently, Probox has reached at peak point in margins of selling. That is wherefore their market growth rate is very high as well as market share. From the Bangladesh perspective, the demand of this car has increased so the company is trying to hold this positionQuestion Mark Corolla GLi falls under the category of this position. Because it is totally a new brand in Bangladesh, but has got very rapid sale within a short flow rate of time. in that respectfore, their market growth rate is in the high position. On the other hand, as a new brand market share is not so high till now. Cash Cow When market growth rate is low along with high market share then(prenominal) the product fall under this category. From our point of view, Yaris falls in to this position. Because prove market growth rate of Yaris is not that much high compare to other though their market share is high. Dogs In this position, both the market growth rate and market share is low.According to our observation, Crown falls into Dogs position in the matrix tab le. This is the model, which has less demand in Bangladesh that is wherefore their market share is also low. 4 d. Market variance functioning Market segments are large identifiable groups within a market. There are four basic bases for segmenting consumer market. These variables can be use by the piece or in combination. These are- 1. Geographic segmentation 2. Demographic segmentation 3. behavioural segmentation 4. Psychographic segmentation Now, considering Corolla GLi, we recognize that they also segment their market into groups ground on the above segmentations. For this segmentation adjoin, firstly they study the market and customers demand.They complete this performance by analyzing the competitors products, segmentation as well as customers demand. The process is described below- Geographic segmentation It is the process of dividing the market into divers(prenominal) geographic units, such as country, city, nation, state, region etc. The company can operate in one o r few geographic areas, or operate in all but pay attention to local transitions. From Corolla GLis point of view that they segment their market found on untaught In rule to cover the whole worlds market they launch their product in assorted countries. To do so, in 2007 they first launch this model in Bangladesh. City After selecting the country, they target those cities where they gravel to a greater extent customer demands and call fors. They actually select the cities aft(prenominal) analyzing the purchasing power, financial support standard and so on. Demographic Segmentation In this segmentation the market is divided in to groups on the basis of variables such as age, family size, deportment cycle, gender, income, occupation, education etc. These variables are the most popular bases for distinguishing customer groups. From corolla GLi point of view, they segment their market depending on income and occupation mostly and others have less affect in this segmentation p art. As we know that they firstly go for market study to know customers demand as well as their purchasing power.For this purpose, they target those customers who have high income as well as in top position in their occupation to match whether they can afford this car or not. behavioral segmentation In this segmentation debaseers are divided in to groups on the basis of their knowledge, attitude toward the product, use of, or response to a product. The behavioral variables are occasions, bring in, user place etc. If we look at the Corolla GLis segmentation process, we can descry that they mainly focus on benefit variables and customers attitude toward the products. In benefit variables consumers actually look for products quality, services, economy, and speed. Therefore, corolla GLi is providing high quality, extra ordinary services along with high economic jimmy to meet the customer demands.Moreover or so customers attitude is to prefer mark products. They are fundamentally quality concern people not price sensitive. Psychographics segmentation In this segmentation the market is divided in to groups on the basis of flavour style, in-personity and social level. As we have mentioned earlier that GLi is a mark product targeting the upper class people so social class, brio style, and personality play an primal role in this segmentation. The people who are in the upper class and lead a terrific life style they want such type of car that represent their perspective, trope and pride in the society. hither corolla GLi holds all the characteristics that make satisfy these groups of customers.In addition, the customers who are ambitious, outgoing, demanding, compulsive and want to show a unique pattern may also buy this car as a symbolic representation of attractiveness. Thus these four basic parts of segmentation process helps them to identify the proper customer demands and market. 4 e. Target market selection process After the segmentation process traffickers identify one or more selected areas to enter into the market, this is known as target market selection process. There are different patterns of target market selecting. These are- 1. Single segment concentration Producing one product for one selected market. 2. Selective speciality Offering different product for different market. Here, one sector can be cover by other. 3.Product/service specialization Offering one product for all groups of people in order to minimize toll. 4. Market specialization Offering different product for one selected market. 5. Full market insurance coverage Marketers try to cover full market by offering different products for different market. After analyzing the five patterns of target market selection, we can joint that Corolla GLi follows the Single segment concentration. Because- ? They wear offt have any other sub model of GLi. It indicates that they are producing only one product. ? likewise they are producing this product targeting only one group of people, which are the upper class people.From Corolla GLi point of view, they select their target market by considering the customers demand like- what feature, design, and benefit they want. Last of all, they try to match these with the customer ability and purchasing power. As it is mentioned earlier that they are by-line single segment concentration so the benefits for selecting this pattern are mentioned below- ? Through the Single segment concentration, marketers gain a strong knowledge of the segments need and achieve a strong market presence. ? With the help of Single segment concentration they can increase their sale, which can earn a high return on its investment. 4 f. Types of Consumer behavior acquire behavior is the decision processes and acts of people voluminous in purchase and victimization products.There are four true types of buying behavior based on the type of products that intends to be purchased. These are- knotty buying behavior It is a buying behavior where the individual purchases a high care for brand and seeks a lot of reading forward the purchase is made. In this process, buyer first develops belief round the product then develops attitude about the product and lastly makes a heedful choice. Variety-seeking buying behavior It is a buying behavior where the individual likes to fink around and experiment with different products. Here brand switching occurs for the pursuit of variety rather than dis satisfaction and look for cheaper price.Dissonance-reducing buying behavior It is a buying behavior when buyer is highly convoluted with the purchase of the product. There exists little deviation between existing brands, so customers become confused. popular buying behavior It is a buying behavior where the individual buys a product out of habit e. g. a daily news composing, sugar or saltiness etc. After analyzing the above point it is quite clear that Corolla GLi car buyers are following complex buying be havior, because they are highly consumed in purchase and aware of significant difference among brands. We know that this car is expensive, risky and self- expressive so buyer buy infrequently.Furthermore, this type of customers buy car by differentiating the products with other significant brands like- Mercedes, BMW. Here, Corolla marketers also compare their product with BMW, Mercedes. Mainly, customers are concern about brand not price so they look for brands benefits and quality, which will show the symbol of pride, status in the society. 4 g. Steps in the consumer buying behavior Consumer Buying Behavior It refers to the buying behavior of final consumers- individual and households, who buy goods and services for personal consumption. There are five steps by which consumer buying behavior pass through- Fig Steps of consumer buying behaviorLikewise, to buy Corolla GLi consumers may through all the steps. These are explained below- Need Recognition In this step a consumer become aware of a riddle or need. As we have mentioned earlier that Corolla GLi is a car of status, reputation, image and so on. When people reach that level where they feel to have such a prestigious car, they are in the need recognition stage. So they want such a brand new car, which will higher up their position in the society as well as match with their societal status. Information Search When customers become aware of the need, they go for selective information search. They can collect information from various sources, such as personal, commercial, in the public eye(predicate) sources etc. In personal sources, they can collect reliable information from their friends and others who have Corolla GLi or may know well about this car. ? They also can go for visiting Toyota show rooms in order to collect more accurate information, which refers as commercial sources. ? Print &038 electronic media, advertisement, billboard, Internet etc can also act as public sources in order to provide in formation to customers. Evaluation of Alternatives In this stage, the consumers form preferences among the brands in the choice set. After completing the information search stage, customers look for competitory brand information by which they can evaluate the brands with each others.Here customers also evaluate Corolla GLi with other brand new cars and try to find out significant differences among them. They compare the brand image, features, services, speed, design, and other facilities and benefits among the alternatives. Purchase ending After completing the evaluation process, the select the most preferred brand which is suitable for them and then they decide to buy the product. In the case of Corolla Gli, after evaluating all the alternatives the pick Corolla GLi as it is fitted from all perspective. Attitudes of others who already have Corolla GLi, plays an important role to take the purchase decision. And then go for final consumption. Post-purchase BehaviorAfter purchasing the product, consumers will experience both(prenominal)(a) level of satisfaction or dissatisfaction. In the case of Corolla Gli, consumer may try to figure out their satisfaction level. Whether the cars perceived performance is satisfactory or not. 4 h. Product Life cycle stage determination pic Corolla GLi was launched in November 2007 in Bangladesh it went through the introduction stage with great success and now it is in the growth stage the features, quality and brand name of the car are attracting more and more potential buyers day by day. 4 i. SWoT analysis SWOT stands for internal Strengths and Weaknesses and external Opportunities and Threats.It is used to evaluate the degree of fit between the organizationss strategies and its product and to suggest ways in which the organization can profit from strengths and opportunities and shield itself against weaknesses and threats. pic Strengths ? Brand new product ? It represents luxurious life style and symbol of status. ? Showi ng dependableness by the company name Toyota. ? Using WT-i technology Weakness ? Since it is one of the models of corolla so both(prenominal) people may have misperception about GLi as a new brand. ? Because of the mentioned reason also GLi still dont have own Brand image. ? No product line and variation in model. Opportunities ? Offering product, which is equivalent to other luxuries car. ? Attracting new customer by providing quality product. Threat Entrance of new competitors. ? Government regulations (new or revised). pic price for Corolla Gli 5. Pricing for Corolla Gli 5a. Price A firm sets prices when it develops a new product, when it introduces its law of natureful product into a new distribution channel or geographic area, when it adds new features in the product, etc. Price is the only element in the trade mess up that generates revenue the other element generates cost. Price is considered as the major determinant of buyer choice especially in the poorer nation and w ith commodity type products. Companies set their prices in different ways based on cost, value, competitors, customers, etc.Each price outline is different from the. represent based price strategy is where the organization set prices based on cost of production with that follow a certain markup is added for the profit and the product is sold. Competitors based pricing strategy depends on the price of the competitors what they would charge for the product for this pricing strategy the organization either charges same or low price than the competitors. 5b. Pricing strategy of Toyota Corolla Gli Toyota mainly follows cost based pricing strategy for the entire car it manufactures for the luxurious car it follows both cost based pricing strategy and value based pricing strategy.They deliver the value promised by their value proposition and the customer perceives the value. To communicate and enhance perceived value in buyers mind Toyota uses other merchandising mix elements such as ad vertising and sales force. Value based pricing depends on the product performance, quality, features, customer service, etc. For Corolla GLi Toyota uses both cost based and value based pricing strategy as this is one of the most luxurious cars of Toyota. Navana is the only importer in Bangladesh who buys Corolla GLi from Toyota. Initially when the car was launched it was sold at a price of 1950000 taka but now as duty fee has increased and international currency fluctuated the price of Corolla GLi is now 2250000 taka.For the pricing of this car Toyota is also following other pricing strategies they are price shave strategy which is they are charging maximum price as it is a new product, the demand of this car is already present in other countries and the buyers are also willing to pay any price to buy this car. It is following premium pricing which is charging high price for the high quality car . It is also following the optional product pricing e. g. for with the car Toyota is pr oviding a luxorious comfortable interior with leather seats, cd player, etc. Therefore lowest price is determined with all these strategies plus the cost of import, duty fee, the cost of shipment and the markup of Navana. pic Distribution for Corolla Gli 6. Distribution for Corolla Gli 6a. Distribution or location strategy Most producers do not sell their goods directly to final consumers they use channels or marketing intermediaries to deliver their product to the ultimate consumers. By using intermediaries the cost of the producers and their number of transaction decreases. 6b. Channel dynamics accomplished marketing system- manufacturer, wholesaler, retailer work as independent system. No one has control over the other. Each member of the channel has separate objectives. tumid marketing system- all the members of the channel work as a coordinated team. Hybrid marketing system- when the product is sold by using more than one channel 6c. Distribution of Toyota Toyota has dis tributors in almost every country. In Bangladesh the main distributor of Toyota is Navana. Navana performs many functions of Toyota. They gather information about potential and current customers of Bangladesh about the government policy and other external factors and communicate the information to Toyota. They make people of Bangladesh aware of the new cars their features and benefits e. g. to publicise Corolla Gli Navana used print media, internet, etc for advertisement. They communicate with the customers directly and sell the cars.As Toyota uses Just-in-time approach to some extent they depend on their distributors as the distributors provide them information about customers demand or about the cars of the competitors and Toyota produce their cars accordingly. Toyota and Navana together follows the Vertical marketing system where they work as a unified team. If Toyota wants to launch a new car in Bangladesh they provide Navana with all the information about the car Navana then a nalyzes the current marketing situation about the competitors and orders as per demand which is then delivered after 5months through shipment. Navana is an exclusive distributor of Toyota they are given full authority to sell the cars of Toyota. pic Promotional tools 7. Promotional tools any company has to sell their products to their desire customers. For that they need to communicate with them.In this mass every company use some promotional tools to sell their product. As Toyota selling specialty product GLI car, they are also using some promotional tools to capture more and more market share. 7 a. Objective of promotional activity Toyota has some certain objectives behind their promotional activities. Those ares- ? swelled information about the product ? Whats new in features and benefits ? nerve-wracking to create brand value of GLI ? Ultimate increase of market share 7 b. Promotional tools of corolla GLI Toyota using three basic promotional tools to go on Corolla GLI. ? ad vertizing ? Personal selling ? Direct marketing AdvertisingAdvertising is the paid form of non-personal presentation by an individual organization to promote their products towards their customers. Toyota gives advertisement of their product through different media to promote their products towards their customers. Toyota using paper and bill board for their advertising. They go for billboards which are situated in Bijoy Shoroni, Manik Mia Avenue, Kamal Ataturk Avenue, Gulshan 1 &038 2, infront of Shonargoan Hotel, Dhanmondi 27, Newmarket. In Chittagong Newmarket, Port city, Nasira bad and Kulshi etc. Personal selling Toyota using personal selling tools to sell and promote corolla GLI. Personal selling is the direct way to connect with customers. Toyota first introduce GLI in Japan trade fair, its a way of personal selling.to a fault Under personal selling they go for corporate selling and they target bank and company high ranked personalities to buy their product. Its a very good form of selling corolla GLI. Direct marketing Direct marketing is other tool that used by Toyota to aware about GLI to their customers. Direct marketing is way of marketing where, there are no physical contacts with the customers. They did e-mail campaign to promote GLI as direct marketing. 7 c. Media used by Toyota As Toyota wants to sell their product GLI, they use some media to provide their communicate to their desired customers. Toyota uses both personal and impersonal communication channels to promote GLI. ? Personal communication channelsPersonal communication channels involve two or more person communicating directly with each other feel to face, person to audience, over the phone or through mail, where company get the probability to receive feedback from customers etc. To promote GLI Toyota uses face to face, person to audience and mail as personal communication channels. overly word of mouth behavior acting as personal communication channel. ? Nonpersonal communicat ion channels Nonpersonal communication include media, atm and event, where no face to face communication occur. Moreover no opportunity to get feedback from the customers. Toyota uses print media, bill boards, car show etc as nonpersonal communication channel. 7 d.Media budget One of the most grueling marketing decision is determining how much to spend on promotion. There are some common methods of determining media budget. Those are affordable method, percentage on sales method, competitors parity method and objective and lying-in method. From these Toyota is using a combine approach of affordable and objective-task method. hardly in advance that they are estimating the budget depending on product life, quantity and brand value. For GLI, Navana the authorized distributor of Toyota budgeted 20-30 lakh for the current year. 7 e. Advertisement effect on sales Toyota tag GLI as a successful project in Bangladesh.To become successful Toyota is doing a lot of promotional activities . They also found positive effect on their sales from their promotional activities. As a result they able to sell 300 to 350 Gli car within 8 months. Its a great achievement in term of selling luxury taproom. Toyota is very successful in term of their promotional activities. Also they use different types of promotional tools to become successful in Bangladeshi competitive car selling market. pic Problem Identification Car is pronounced as specialty product and also perceived as luxurious product in our country. So its a bit difficult to maintain a luxurious product like Toyota GLI in every segment of marketing.Although its a very successful project of Toyota in Bangladesh but they faced some paradoxs. 1. Perceived value of corolla in customers mind Customers of Bangladesh perceived that corolla is a brand of common people. As GLI is a sedan of corolla segment, customers perceived that its not a high mark car. Although it is a corolla segment car but it is a high grade car of coro lla then other corolla cars. As customers think it is a common brand car they dont want to buy it on that amount of value. So its become a huge marketing trouble for corolla GLI. 2. Brand name GLI Basically GLI doesnt have any meaning. But customers want to know the meaning of it.So it creates some sort of occupation to give the proper answer of meaning of GLI. 3. High price GLI is a car of high grade, so its a high price car. As more people wants to buy affordable car they dont want to buy it at a high price. Also some dont want to buy a corolla branded product at a high value. So the high price of the car creates some sort of problem. 4. Off stock delivery time Toyota uses Just in time inventory system. So they manufacture product only on demand. If the stock of GLI car comes to an end then it postulate 120 day to delivery the product again through shipment. So off stock delivery time is a problem of Toyota for any car as well for GLI. 5. Rapid growth of competitors high branded carsPreviously, the Bangladeshi car market was captured by Toyota. But in term of luxurious and high branded car, now Nissan, Honda and Mitsubishi entered the market with a great deal. So market becomes competitive and its a new problem for Toyota in Bangladeshi market. 6. Import of condition cars Huge amount of recondition cars are importing from Japan to our country. So the new branded cars are loosing their appeal in the market. 7. Unstable car import and duty law and regulation Car import and duty law is very impermanent in our country. It creates hazard for the company to do their business smoothly. Toyota is facing some problems regarding GLI. They are also trying their best to solve those problems.Moreover they marked these problems positively and from the GLI experience they will able to avoid these hazards for their up overture projects. 9. Recommendations 1. Customers perceived value- To overcome this situation marketers need to increase the brand value of Corolla GLi. They can increase brand value by adding more features than other Corolla cars, or even compared to the competitors same level cars. They can utilize the brand equity of Toyota cars that prevails in the market. They can highlight the brand GLi besides Toyota Corolla. They can differentiate GLi from other Corolla. They can differentiate GLi from other Corolla line extensions by highlighting the existing features.They can introduce new designs in hurt of color, body kits etc new features and also extra facilities. 2. High price- As the price of Corolla GLi is high to overcome this situation marketers can add more value to the product rather than cutting the price. They can have value addition to the product- a. perceived value in terms of brand image. b. tangible value- marketers can introduce new features and design by producing new colors, body kits etc. They can avail more extra facilities and benefits in the car. 3. Though the centering philosophy of Toyota that is the Just-in- time approach is not a current problem but rather is referred as a potential problem in the long run.Our recommendation would be to study and be informed about the market demand all the time to avoid any situation of being out of stock. 4. The rapid growth of competitors branded cars is a great threat to Toyota worldwide as well as in Bangladesh. The marketer should always be aware of bringing in, what are the benefits that will be available etc and plan accordingly to reduce the threat of being out of model or even out of market. References &038 Bibliography www. amartoyota. com www. toyota. com www. toyotahistory. com www. toyotacarzone. com Marketing Management-Philip Kotler 11th edition, apprentice Hall Advertising Principle &038 Practice William Wells and Sandra Moriarty, 7th edition, prentice Hall. www. bdnewspaper. com &8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212- &8212&8212&8212&8212&8212&8212&8212 Star (Probox) Question Mark (Corolla GLi) C ash Cow (Yaris) Dogs (Crown) High Low Involvement Involvement Significant difference Between brands Few difference Between brands Complex Buying Variety Seeking buying Habitual buying Dissonance Reducing Buying Purchase Decision Post-purchase Behavior Evaluation of Alternatives Information Search Need Recognition Time Product Develop- ment Introduction Profits gross sales Growths Maturity Decline Losses/ Investments ($) Sales and Profits ($) GLi