Toyota Aygo Marketing Essay Example | Topics and Well Written Essays - 2000 words

Toyota Aygo Marketing - Essay Example Then, there were only five car competitors for the urban youth market segment. However, competitors have grown to twenty today. Thus, in an effort to improve its position in the highly competitive segment, where customers are hard to win, in the year 2014, the company unveiled a new version of the Aygo model with modifications that make it more suitable for the young target customers. The model constitutes the largest individual market share of any Toyota model and has a remarkable track record of attracting new customers to the Toyota brand and winning their loyalty (Lap Lab). Young people have different tastes for cars from the older people. Firstly, they prefer small cars. Tus, in this respect, the Aygo model is small enough to suit the target customer needs. The car’s capacity is four people; the boot is also pretty small, though enough for a carry-on case/a few bags of shopping (Lap Lab). In addition, young people also want economical cars; they are young and not yet at financial peak. In this regard, Aygo is economical in two aspects. Its price is the cheapest of all Toyota models, the average list price in UK being  £8, 59. Further, insurance costs are also relatively lower, and the company offers attractive finance deals to make the car more affordable to the youth. Secondly, the model scores relatively high in fuel economy. The new recently launched model has a fuel efficiency of 68.8mpg, which is a big improvement from its predecessor (Lap Lab). In addition, the youth also want a stylish car with playful features. Styling is one area in which Toyota has majored in to achieve the upper hand in a competitive urban youth market segment. The new version has been designed with style and fun in mind which, the company says to have been inspired by the Japanese youth culture. While the previous Aygo looked tasteless, the new version has a fancy X arrangement that gives it