Toyota Gets It Right: Heavily Promote
Toyota Motor Corp is preparing a $1 billion marketing campaign to boost U.S. sales in the fourth quarter, while also expanding its line of hybrid models under the Prius name, the company said on Thursday. The $1 billion will include a media campaign, as well as buyer and dealer incentives, including sweeteners for leasing.
The $1 billion marketing and advertising plan is 30 percent to 40 percent more than Toyota typically spends in the quarter, Miller said. The plan comes as Toyota struggles with its worst downturn since it was founded in 1937 and is expecting to report a loss for the second straight fiscal year.
Toyota has made the bold and correct move that all companies need to follow. Moreover, long term studies have shown conclusively that those who promote when things are in emergency will emerge with a larger market share. Not that GM is government run, they will fall behind in bureaucracy.
Best, Edwin Dearborn