TOYOTA INNOVA

Sujit Nair
Pragnesh Dave
Devesh Dubey
Suvarna Thasale
Sneha Poojari
AWARDS WON BY TOYOTA INNOVA
1)J. D. power asia pacific; IQS 2011 award
MUV/MPV segment
2)Auto Build:
Consumer favourite large family car 2010
3)Business standard motoring:
MPV of the year (2006)
4)Overdrive:
UV of the year 2006
5)Business standard motoring:
Best MUV 2005
6)TNS awards-Total consumer satisfaction studies :
Best MUV 2005
7)NDTV Car Awards
Best MPV of the year 2006
OBJECTIVE
Toyota Innova is an interesting brand, because it redefined the MUV segment
in India and also it replaced the famous Toyota Qualis when the sales of
Qualis was at its peak.
Toyota decided to replace Qualis because of two reasons:
Qualis was a major success among the tour operator segment but was not
popular at the individual/home segment.
Second reason was the increased competition from Chevrelot Tavera which
was perceived to be a more refined upmarket SUV.
Toyota also wanted to bring in the latest products in the Indian market.
Qualis was only a test product. Further, Toyota wanted to appeal to the
individual/home users rather than the commercial segment.
INTRODUCTION
 COMPANY ANALYSIS
The company was founded by Kiichiro Toyoda in
1937 as a spinoff from his fathers company
Toyota Industries to create automobiles. and, in
1936, its first passenger car, the Toyota AA..
Toyota is the second largest automobile
manufacturer in 2010 by production. Toyota is the
ninth largest company in the world by revenue.
In July 2012 the company reported that it had
manufactured its 200 millionth vehicle.
INDUSTRIAL ANALYSIS
The MUV segment consists of vehicles that are suited to both rural and urban areas. In rural areas
where the roads are usually bad, these vehicles are used as goods carriers and also for public
transportation.
There are three segments of buyers for MUVs: the private market, Government, and the Defence.
Until the 1990s, the Government and Defence segments accounted for the largest share of the
market. The reduction in Government and defence spending since the 1990s has substantially
reduced sales to these two segments. This has pushed private sector purchases into greater
prominence.
There are three sub-segments of the UV / MUV segment: the hard-top, soft-top and pick-up. The
hard-top version consists of the higher-end Sports Utility Vehicles (SUVs) that have been present
in the Indian markets since FY1999. Following the success of the higher-end SUVs, the share of
the hard top segment in total MUV sales has registered an increase.
That apart, soft-top sales have also been affected by a decline in rural income, increase in sales
tax in some states, increase in diesel prices, enforcement of strict emission control norms, and
restraints on the issue of licences to use soft-top vehicles as rural taxis.
SWOT ANALYSIS

STRENGTH
WEAKNESS
MARKET HIGH LIMITED LITTLE
PENETRATIO BRAND PRESENCE IN STORAGE
N NAME EUROPE AND SPACE
AMERICAS
HUGE HIGHEST DIFFICULT LOW
MARKET IN MARKET FOR IN CITY INTERIOR
INDIA SHARE TRAFFIC QUALITY
OPPORTUNITY THREATS
CHANGE IN BIGGEST NEWLY LAUNCHED
CUSTOMER COMPETITOR WAS CARS
PREFERNCE TO LAUNCHED IN 2005
MUV
LABOUR ISSUES LOWER PRICES LABOR ISSUES IN
OF MARUTI. MARUTI
FACTORIES.
TOYOTA KIRLOSKAR MOTORS
Toyota Kirloskar Motor Private Limited (TKM) was
established in 1997 as a joint venture between Toyota
(89%) and Kirloskar Group (11%).
TKM manufactures a line of Toyota vehicles, including
the Corolla Altis, Fortuner, and Innova models, and
imports the Camry, Prado, Land Cruiser, and Prius
models.
TOYOTA INNOVA
Toyota Innova is the most popular MUV (Multi Utility
Vehicle) in the Indian market.
In India, the MPV replaced Toyota Qualis.
In the Indian auto market Toyota Innova is available with
twelve variants.
It has a market share of 38% in the MPV segment. It is
currently at an all-time high list of 7th place.
 COMPETITORS

Tata Safari
Mahindra XUV500
Chevrolet Tavera
Maruti Ertiga 3.9% market share
Nissan Evolio
MARKETING MIX
Product - Toyota Innova has an accommodation capacity for 8 people.
The Innova differs from the straight designs of Tata Sumo and Qualis and is
instead more of a curved design. The interior of this car are designed keeping
comfort in mind with spacious interiors.

Price - Toyota Innova is priced somewhere at 8-12 lacs. The pricing is

definitely competitive with the extra features and comfort which Toyota
Innova has at its disposal.

Place - Toyota Innova is available for distribution across the country

through its dealership network and retail outlets.
 Place - Toyota Innova is available for distribution across the country
through its dealership network and retail outlets.

Promotion - The brand ambassador of Toyota Innova was none other

than Aamir Khan, probably one of the most effective brand ambassadors in
India.
MARKETING STRATEGY
Good Product: Innova'-ted for customers, which means its one of the
best 2500 CC engine for the price offered.

Brand Ambassador: Innova has effectively used the charisma of

Aamir Khan to promote it and make it trendy and upmarket.

Different from competitor: Innova distanced itself from the Qualis,

its successful predecessor which is just a popular Taxi nowadays.

Innovative acquisition of customers: Toyota offered 1% interest on

loans for Innova buyers for very small amount of time to get the car
on road.
SALES FIGURE
May 2012 - New Toyota Innova 2012 sold whooping 6710
units which is higher by 127% over 2961 units sold in
May 2011.

June 2012 - Toyota Innova, the bestselling compact MPV

showcased a hike of 45 percent, shooting up from 4,665
units sold in June 2011 to 6,785 units sold in the last
month.

July 2012 - A 39% of growth was seen in the sales of

Toyota Innova as compared to the sales figures of July
2011.
BCG MATRIX
BCG matrix aka Boston matrix is a chart that had been
created by Bruce Henderson for the Boston Consulting
Group in 1970 to help corporations with analyzing their
business units or product lines. The BCG matrix method is
based on the product life cycle theory that can be used to
determine what priorities should be given in the product
portfolio of a business unit.
 Stars Fortuner

Question mark Prius

Cash cows - Innova

Dogs Camry
 Star: Toyota Fortuner falls into the category of stars. It
generates large amount of cash because of its market
share.but also consumes large amount of cash because of
its high growth rate;therefore he cash in each direction
approximately nets out.
Cash cows: In case of Toyota company, innova is the
cash cow for the company which generates a lot of cash
for the company and the company utilizes this cash to run
its future units like Toyota Fortuner etc.
 Question mark: According to BCG matix a question
mark is such a business unit about which you are not
about the success or the failure. In case of toyota their
product prius falls in the category of question mark.
Dogs: Toyota camry falls under this category. This
category includes the product that has no market share and
that consumes large amount of cash. The company want to
dissolve this kind of product.