Toyota’s segmentation and target market is guided by its philosophy of ‘right car in the right
place’. Toyota has employed both demographic and psychographic form of multiple
segmentations and targeted its market on that basis. For example, it has segmented all the
countries across the globe as its market. But has also identified its focused market such as the
US, Canada, EU, Australia, China, India, and Indonesia. On top of that US is its first priority
being the biggest market. It is because, US consumes almost 30% of its products. Its products
range with different prices from US $ 10,000.00 to 30,000.00 plus. The economy class cars are
targeted to lower and middle level income people and the luxury cars are targeted to higher
middle and higher income group people. With a variety of product attributes it targets different
age group and professional groups of people. For example, for sport people it has sport cars.
For environmentally sensitive people it has Prius – environmentally green car. Likewise, it has
offered 100% bio-ethanol fuel car in Brazil, where is bio-ethanol potential. Likewise, those who
are truck lovers or professional who need trucks, it offers them different variety of trucks. In fact,
its marketing strategy – segmentation, targeting, and positioning is nurtured by its variety of
offers and product attributes.