Toyota Launching The Scion

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ToyotaLaunching The Scion

• The Firm Reloaded
• Deangelo Chaney
• Saville Johnson
• Jessica Pollmeier
• Brandi Ross
• Shannon Williams

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Article Summary

• Title Toyotas Gen Y Gamble New Scion Line Sure
  is Boxy But Its an Early Success As Youth Shun
  Dads Camry.
• Located in The Wallstreet 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 Scions
  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