Analyse and apply the appropriate marketing strategy in the context of Essay

Analyse and apply the appropriate marketing strategy in the context of the marketing planning process - Essay Example Through study of some important brands and their respective marketing strategies the overall position and pattern have been gauged in context of marketing strategies. Toyota Motor Corporation is a big player in the world of automobiles. It manufactures various types of cars, trucks, passenger cars and minivans. Under the brand name Prius it sells hybrid vehicles. The company also has a wide range of SUV or sport utility vehicles as well as other speciality vehicles. One of the company’s primary objectives is to manufactures such vehicles which would provide safety, security and comfort to the consumers (Company Description, May 2009; Toyotas ITS vision, 2009). Toyota or for that matter any company would set up strategies to achieve its business goals or objectives. Similarly it creates marketing strategies to achieve its goals in terms of marketing objectives. Marketing strategy as a concept caters to three parts, the internal factors of the company itself, the customer and the competitors of the firm. A marketing strategy of a firm focuses on the market in terms of segmentation, targeting and positioning. Segmentation is dividing the market into groups which have similar characteristics. This is used by the companies to target their products to cater to the specific segments. The company always focuses towards creating a higher position for its products in comparison to its competitors so that it can leverage this and sell more. One of the basic and most important concepts of marketing strategy is that of the 4Ps of marketing which constitute the marketing mix of an organisation. The marketing mix or the 4Ps are; product, price, promotion and placement. Toyota offers a wide array of automobiles. It produces trucks, minivans, luxury sedans and hybrids among many other cars. The company also offers various brands for its various offerings. The Lexus brand is its luxury offering. While the Scion brand