The Toyota Marketing Strategy

pic Introduction 1. Introduction Navana Limited stands as the reliable distri preciselyor of Toyota gondolas in Bangladesh, so we take over chosen them to make a winning grocery placeing plan on Toyota gondolas. Our atomic number 18a of preoccupancy was centered on the juvenile stylusl of Toyota Corolla-GLi. This is the latest political machine of Toyota Corolla that has been recently launched in Bangladesh by Navana Limited in November 2007 at Japan clientele fair in Bangladesh. The fault name Corolla of Toyota is fountainhead k count onlyn for producing gondolas for the common people only this elevator gondola is an upgraded model of Corolla. pic troupe Profile 2. Comp whatever Profile 2a. Company OverviewToyota labour Corporation is a multi republical corporation headquartered in Japan. Today, Toyota is the worlds tercet largest manufacturer of automobiles. Providing the approximately reliable automobile for its customer is the Toyotas specialty. Toyota Moto r Corporation recently celeb fixityised its 70 years both as a carmaker and half a century of sell cars in America. In 2007 Toyota sold 8. 52m vehicles and its net income rose by 20% and sire $14 billion. Moreover Toyota is aiming to sell 10. 4m vehicles in 2009. In Bangladesh it is the near frequent automobile caller to the car partr and it has almost 70% foodstuff sh atomic number 18 in our country.It is al slipway interested to get the attention of the young person generation, family people, working executives, service toters, business people, in unrivaled word all kind of people. Its mission is to predict consumer trends and create a lineup of cars and trucks to avail on them. Each professional is expected to spend clipping go forth in the field talking to car grease anes palmsers. The Japanese have a name for it genchi genbutsu go to the scene and confirm the actual happenings. With Toyota, one occasion has never changed that their commitment to the communit ies where they do business.Toyota spends over billions of billion on R, concept, manufacturing, gross revenue and food marting operations. Over the world they have sales agreements /service offices, pecuniary service offices, R centers, holding come with, manufacturing facilities, radiation diagram centers, Hino operation facilities, Supplier put up and so on 2b. History Kiichiro Toyoda, fo downstairs of the toyota Motor Corporation, was born in 1894. His flummox Sakichi Toyoda became famous as he inventor of the automatic loom. Inheriting the invigorate of research and creation from his father, Kiichiro devoted his entire aliveness to the manufacturing of cars, which was an unknown verge at that clock.In 1933, Toyoda Automatic Loom Works created a unexampled division devoted to the intersection pointion of automobiles under the direction of the lay downers son, Kiichiro Toyoda. Kiichiro Toyoda had traveled to atomic number 63 and the United States in 1929 to invest igate automobile harvest-timeion. After years of demanding 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 advance to develop automobile mathematical harvest-tideion by the Japanese government and object diminishe put on AA passenger car was the startle overlapion model of Toyota in 1936. pic procreation of the Toyota Model AA, the first fruition model of Toyota in 1936 Toyota Motor Co. was open up 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 licks Lexus and Scion cross offs. Toyota is headquartered in Aichi, Nagoya and in Tokyo. In entree to manufacturing automobiles, Toyota caters financial function through its division Toyota financial Services and in addition creates robots. 2c. ware Line of Toyota Toyota acts in Bangladesh through Navana Group, under Navana Limited.The production line of Toyotas patsy smart cars, that atomic number 18 food marketed by Navana Limited and be available in Bangladesh ar 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 police cruiser 9. TOYOTA Hilux 10. TOYOTA Dyna 11. TOYOTA Hiace 12. TOYOTA Coaster pic Current trade web site 3. Current merchandise site thither is a huge market for automobile industry worldwide. In this spheric earth people need to overtake with new(prenominal)s each and each minute. transit is one way that facilitates dialogue.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 little un inactive for the fact that oil charge has arise signifi abundant dealtly worldwide that has resulted in a decrease of car sale wor ldwide. The same has also affected the East Pakistani market. Different car dealers have reported that car sale has dropped signifi spateistertly from last year, 2006-2007. in that respect is also a rise in the car due to increase in apostrophize of production. The steel footing has risen signifi bottom of the inningtly worldwide. Japan, Taiwan, importers of steel, be free 27 to 30% to a gravider extent for acquire steels.In Bangladesh, the governments rules and regulation imposed on import, duty and tax has also ca expendd the market of cars to decrease. pic Product Profile 4 . Product profile 4 a. Mission, Vision, intentions & remnant Mission The mission is to create a luxury vehicle that could go head to head with the worlds best automobiles. Vision conniption new industry standardiseds in operational excellence, market penetration, customer bliss and community commitment. Objective Corolla GLi is clear in its objective to produce the incisions most engaging driving dynamics while maintaining the brands traditional ride quality. intent From the kayoedset, it is their goal to develop a luxury flagship vehicle that would be recognize as one of the finest cars in the world. 4 b. Products quality and features, design, packaging, brand name, surplus services Brand name Corolla GLi Features And Quality ? Powerful performance reactive and quick to please, the Corolla effortlessly generates the power for driving pleasure, representing subtly smooth and stable performance. ? Advanced technology The Corolla generates pop outstanding power, minimizes its environmental doctor, and provides warm reassurance. Wti technology ground on driving conditions, it optimally changes the open/close timing of the breathing in valve, contributing to increased torque and output, better fuel economy and lessen Nitrogen oxides and hydrocarbon emissions. ? Crash safety body It is comprised of a high legality cabin with front and rear crumple zones that help abso rb impact energy in a collision. ? Suspension The Macpherson strut suspension on the front and torsion beam suspension on the rear were fine-tuned to provide excellent st readiness and control, and ride comfort. Keyless entry system It lets to occupy 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 carcass lid adds a sporty touch. ? Anti corrosion steel pelt The extensive use of anti corrosion steel sheeting protects the Corolla from rust, lot it to keep its goods looks for years to come. ? Immobiliser system It provides security against theft. The car cornerstone tho be started when the ID in the electronic look intoes the ID code in the engine immobiliser system. evoke Level warning ? Wireless door lock ? Audio AM/FM, CD Changer, 6 spk. ? Child protector ? Brake control valve EBD creation ? Highly functional design The ergonomics- ground design of the instrum ent panel with its easy-to-use switches engages the driver, providing cheerful operation that parents driving enjoyment. Convenient functional features and various integrated memory board spaces enhance comfort ? Dynamic and advanced With its dynamic and advanced design creating a high quality toppleling, the Corolla continues winning hearts and headways right most 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 behavior The captivating design creates a feeling of great possibility. The wide stride and generous appearance set the stage for the spacious cabin. ? Refined home(a) 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 halt on all four wheels, ventilated on the fron t, are standard for all grades, giving sure stopping performance. ? Windshield Glass commonalty Laminated ? Outside rear view mirror ? Color Oxygen sensor ? Head Rest Front & Rear ? Rear Armrest with Cup holder ? Inside Rear view mirror Day & Night colourise available in Bangladesh ? Super White 2 ? Silver auriferous ? Blue Metallic ? Turquoise isinglass Metallic ? Red Mica Metallic ? Grey Metallic ? Black Mica Packaging It creates a spacious, comfortable cabin with excellent headroom, together with ample trunk space. locomotive engine The compact, lightweight engine integrates sophisticated technologies, which contribute to its excellent performance and emit 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 patch in the market equate to a nonher(prenominal) product of the company with BCG increment matrixBoston Consulting groups (BCG)s harvest-time administer matrix is a table that gives an idea near(predicate) close to 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 former(a) members. 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(a) models. Models are- 1. Corolla GLi 2. Probox 3. Yaris 4. Crown Relative securities industry Share High first-class honours degree Market High Growth localize Low HighLow High Figure BCG Growth Matrix Our analysis on Corolla GLi compare to others is described be broken in- Star Accord ing to our observation, Probox fall into the position of Stars in the matrix table. Recently, Probox has reached at peak chief in marges 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 diaphragm 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 on with high market share thus the product fall under this category. From our point of view, Yaris falls in to this position. Because sit 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 table. This is the model, which has less demand in Bangladesh that is wherefore their market share is also low. 4 d. Market naval division shape Market segments are large identifiable groups within a market. There are four basic bases for segmenting consumer market. These variables can be use respectively or in combination. These are- 1. Geographic segmentation 2. Demographic segmentation 3. behavioural segmentation 4. Psychographic segmentation Now, considering Corolla GLi, we run a risk that they also segment their market into groups base on the above segmentations. For this segmentation sour, firstly they study the market and customers demand.They slay this abut 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 varied geographic u nits, such as country, city, nation, state, region etc. The company can operate in one or few geographic areas, or operate in all but pay attention to local stochastic variables. From Corolla GLis point of view that they segment their market found on terra firma In fiat to cover the whole worlds market they launch their product in antithetical countries. To do so, in 2007 they first launch this model in Bangladesh. City After selecting the country, they target those cities where they stupefy more than customer demands and indispensabilitys. They actually select the cities after analyzing the purchasing power, flavorspan 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, disembodied spirit 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 mark et depending on income and occupation mostly and others have less affect in this segmentation part. 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. airal segmentation In this segmentation bargainers 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, benefit, user placement etc. If we look at the Corolla GLis segmentation process, we can study 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 prize to meet the customer d emands.Moreover around customers attitude is to prefer mark products. They are essentially quality concern people not determine sensitive. Psychographics segmentation In this segmentation the market is divided in to groups on the basis of bread and butter style, individual(prenominal)ity and social sort out. As we have mentioned earlier that GLi is a mark product targeting the upper class people so social class, life style, and personality play an master(prenominal) role in this segmentation. The people who are in the upper class and lead a lordly life style they want such type of car that represent their status, examine and pride in the society. here 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 double may also buy this car as a emblem of attractiveness. Thus these four basic parts of segmentation process helps them to divulg e 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 peculiarity 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 appeal. 4. Market specialization Offering different product for one selected market. 5. Full market reporting Marketers try to cover full market by offering different products for different market. After analyzing the five patterns of target market selection, we can express that Corolla GLi follows the Single segment concentration. Because- ? They dont have any other sub model of GLi. It indica tes that they are producing only one product. ? in any case 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 succeeding(a) 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 purchase mien is the decision processes and acts of people multiform in purchase and exploitation products.There are four common types of buying beha vior based on the type of products that intends to be purchased. These are- daedal buying behavior It is a buying behavior where the individual purchases a high prize brand and seeks a lot of teaching forwards the purchase is made. In this process, buyer first develops belief virtually the product then develops attitude about the product and lastly makes a attentive choice. Variety-seeking buying behavior It is a buying behavior where the individual likes to ca-ca around and experiment with different products. Here brand switching occurs for the pursuit of variety rather than dis happiness and look for cheaper price.Dissonance-reducing buying behavior It is a buying behavior when buyer is highly mixtureed with the purchase of the product. There exists little oddment between existing brands, so customers become confused. frequent buying behavior It is a buying behavior where the individual buys a product out of habit e. g. a daily news radical, sugar or saltiness etc. Af ter analyzing the above point it is quite clear that Corolla GLi car buyers are following complex buying behavior, because they are highly claimd 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 consume rs may through all the steps. These are explained below- Need Recognition In this step a consumer become aware of a difficulty 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 reading search. They can collect information from various sources, such as personal, commercial, everyday 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 & electronic media, advertisement, billb oard, Internet etc can also act as public sources in order to provide information 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 agonistic 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 ratiocination 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 decisio n. And then go for final consumption. Post-purchase BehaviorAfter purchasing the product, consumers will experience roughly 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 possible buyers day by day. 4 i. SWoT analysis SWOT stands for internal Strengths and Weaknesses and external Opportunities and Threats.It is used to standard of measurement 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. ? Showing dependableness by the company name Toyota. ? Using WT-i technology Weakness ? Since it is one of the models of corolla so aboutwhat 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 set for Corolla Gli 5. Pricing for Corolla Gli 5a. Price A firm sets prices when it develops a new product, when it introduces its regular product into a new distribution channel or geographical area, when it adds new features in the product, etc. Price is the only element in the marketing mix that generates revenue the other element generates cost. Price is considered as the major det erminant of buyer choice especially in the poorer nation and with commodity type products. Companies set their prices in different ways based on cost, value, competitors, customers, etc.Each price scheme is different from the. personify based price strategy is where the organization set prices based on cost of production with that measuring rod 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 marketing mix elements such as advertising 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 sliver 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 providing 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 schematic marketing system- manufacturer, wholesaler, retailer work as independent system. No one has control over the other. Each member of the channel has separate objectives. upright piano marketing system- all the members of the channel work as a merged team. Hybrid marketing system- when the product is sold by using more than one channel 6c. Distribution of Toyota Toyota has distributors 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 put up 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 provid e Navana with all the information about the car Navana then analyzes 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 both company has to sell their products to their desire customers. For that they need to communicate with them.In this slew 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- ? braggart(a) information about the product ? Whats new in features and benefits ? act to create brand value of GLI ? Ultimate increase of market share 7 b. Promotional tools of corolla GLI Toyota using th ree basic promotional tools to bring up Corolla GLI. ? denote ? Personal selling ? Direct marketing AdvertisingAdvertising is the paid form of non-personal presentation by an individual organization to crowd 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 & 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. as well Under personal selling they go for corporate selling and they target bank and company high ranked pers onalities to buy their product. Its a very telling form of selling corolla GLI. Direct marketing Direct marketing is another(prenominal) 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 netmail 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 capacity 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 slope to face, person to audience, over the phone or through mail, where company get the opportunity to receive feedback from customers etc. To promote GLI Toyota uses face to face, person to audience and mail as personal communication channels. alike word of mouth behavior act ing as personal communication channel. ? Nonpersonal communication channels Nonpersonal communication include media, ambience 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 awkward 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 delegate method. From these Toyota is using a combine approach of affordable and objective-task method. only out front 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 be come 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 public house. 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 label 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 jobs. 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 i t is a corolla segment car but it is a high grade car of corolla 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 difficulty 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 problem 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 necessitate 120 day to delivery the product again through shipment. So off stock delivery time is a problem of Toyota for any c ar 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 shaky 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 approach shot projects. 9. Recommendations 1. Customers perceived value- To overcome this situat ion 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 harm 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. Th ough the trouble 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 & Bibliography www. amartoyota. com www. toyota. com www. toyotahistory. com www. toyotacarzone. com Marketing Management-Philip Kotler 11th edition, apprentice Hall Advertising Principle & Practice William Wells and Sandra Moriarty, 7th edition, scholar Hall. www. bdnewspaper. com - Star (Probox) Question Mark (Corolla GLi) Cash Cow (Yaris) Dogs (Crown) High Low Involvement Involve ment 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 revenue Growths Maturity Decline Losses/ Investments ($) Sales and Profits ($) GLi