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Toyota Launching The Scion PowerPoint PPT Presentation

Toyota Launching The Scion The Firm: Reloaded Deangelo Chaney Saville Johnson Jessica Pollmeier Brandi Ross Shannon Williams Article Summary Title: Toyota’s Gen Y Gamble: New Scion Line Sure is Boxy But It’s an Early Success As Youth Shun Dad’s Camry . Located in The Wallstreet Journal

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Toyota Launching The Scion

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Toyota launching the scion l.jpg

ToyotaLaunching The Scion

The Firm: Reloaded

Deangelo Chaney

Saville Johnson

Jessica Pollmeier

Brandi Ross

Shannon Williams


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Article Summary

  • Title: Toyota’s Gen Y Gamble: New Scion Line Sure is Boxy But It’s an Early Success As Youth Shun Dad’s Camry.

  • Located in TheWallstreet Journal


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Article Summary

  • Toyota Scion was introduced at the price of $13,000 base.

  • It has been targeted at young adults that are getting their first car

  • These people tend to be between the ages of 18 and 24 yrs old

  • The car design is focused on a trend called JDM that is inspired by Japanese culture.

  • Introduction was started on the west coast of the country where culture is strongly influenced by theatrical releases.


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Scion Background

  • Scion was created by Toyota in 2003 as a car company aimed at the youth market.

  • Scion means “descendant of” and shows Scion’s clear heritage to Toyota.

  • Toyota is currently marketing Scion in the U.S., Guam and Puerto Rico.

  • The currently employ “Pure Price”, which means that the price.


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Scion Models & Pricing

Scion xA $13,000 – 14,070

Scion xB $14,570 – 15,370

Scion tC $15,580 – 17,780


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Scion vs. Mini Cooper

  • Mini cooper because of exposure was introduces at a premium price.

  • Mini Cooper was an early adaptor product therefore had penetrated the American market.

  • Mini Cooper is targeted towards young adults market (18 24) willing to pay for acceptance in culture.

  • Scion has been introduced for the starting price of 13,000.

  • Scion was launched post JDM intro in the American market. This results in the company having to practice penetration pricing.

  • Scion is targeted at young market ( ie 18-24) with limited income.


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Marketing Implications

  • Toyota is currently marketing Scion in the U.S., Guam and Puerto Rico.

  • Scion uses “Pure Price”. Innovative internet advertisements and monospec trim levels with a wide variety of aftermarket accessories.

  • “Pure Price”, which means that the price posted whether on the vehicle, in an advertisement or a menu display board in the dealership, is the price the customer will pay.


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Marketing Implications

  • Used penetration pricing in order to gain interest from its target market: younger Americans (18-24)

  • Start with a lower price so that the customer can customize the car however they want (ex-PSP, paint job, stick shifts, wheels, etc.)

  • Toyota did not have a young audience, and creating Scion helped them tap into the market

  • The trend of street racing coupled with Japanese culture is popular, and kids can create their own “street racers” just like they see in movies (Fast and the Furious)


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Quiz Time!

  • What does the name Scion mean?

    2. When did Toyota launch the Scion?

    3. What was its base price?

    4. What does JDM stand for?


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Answers:

  • What does the name Scion mean?

    Scion means “descendant of”

    2. When did Toyota launch the Scion?

    2003

    3. What was its base price?

    $13,000

    4. What does JDM stand for?

    Japanese Domestic Market


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Sources

www.toyota.com

www.scion.com

Wall Street Journal

www.hoovers.com


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Any Questions?


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The End


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