Executive summary Currently, Toyota Prius is the best hybrid car in US collection market. It is one of the most modern sedans in the automotive sector in the business environment. It offers a competitive lead to other businesses since it is environmental friendly and it offers the most excellent fuel system. The market of this vehicle is experiencing development on an impressive degree with the market sales per year being around 550,000 every year in the US from year-2008. The paper starts with the introduction of Toyota Company where short background information and an overview of the market environment, in which its functions are described. An up to date situation analysis is also performed. This analysis gives a clear understanding of the company, its numerous products, rivals and various business atmospheres in which it operates. After looking into its internal and external environment, a SWOT analysis to identify its environment’s opportunities and threats is performed as well as the 4Ps analysis. Basing on these aspects, the most significant matters are recognized and marketing goals and strategies have been classified. In conclusion, a suggestion for change and execution plan has been set up to develop the product. Finally, in order to remain competitive in the market, a brief integrated marketing communication is carried out. Introduction In terms of unit and net sales, Toyota is the market leader for modern technology such as hybrid and fuel-cell vehicles which are environmental friendly. This paper analyzes the present marketing situation in Toyota with background information on its market, product, rivalry and distribution. It also applies SWOT analysis to discuss the opportunities and threats in its marketing envi... ... middle of paper ... ...cially on TV. It can be used to create consciousness, interest and also update the customers about Prius (Cusumano, 2011). Finally, direct mail can helpful for this promotion since it creates awareness or providing opportunities to book a trial drive. It is also vital when aiming at reaching the corporate customers in order to offer them thorough information about the Prius (Krzykowski, 2011). Conclusion A monitoring and assessment team will be put in place to oversee the progress of Toyota in achieving the marketing strategic objectives. The short term objectives will be clearly assessed and where targets are attained, corrections are done since they help in realizing long term objectives. Presently, Toyota has ensured that hybrid vehicles are being manufactured, and so far the market has been developing in terms of overall reaction to these new brands of cars.
This research seeks to reveal the importance of marketing strategies in today’s complex and competitive business world. For this reason, this study will discuss various theories, issues and approaches of the marketing linking them with W.L. Gore & Associates and thereby propose the best options, ideas, strategies and techniques for the improvement of the company. To reach the points, this study will especially collect secondary and qualitative data and information.
A SWOT analysis is used to assess a company’s strengths and weaknesses found within the company, as well as opportunities and threats that emerge from the external environment. In this analysis, the main strengths, weaknesses, opportunities, and threats facing the Ford Motor Company will be discussed to provide a powerful analysis tool that supports the planning process for marketers.
By the end of 1998 though, there was evidence of a crisis occurring. Customers and media pulled together to assist senior management partake in an internal audit to identify the problems and see if they could come to a solution. The purpose of this assignment is to construct a SWOT analysis, highlighting each of the strengths, weaknesses, opportunities and threats that were highlighted in the internal audit. The SWOT analysis is contained within the marketing plan and is the third step in the marketing planning process, coming after the Marketing audit and before any assumptions. (Joisce, Ted (2002), Marketing Planning Lecture Notes – 14/10/02, Mission, Objectives, Strategy, Tactics)
Toyota Motor Corporation demonstrates a high degree of ethical and social responsibility. Not only is Toyota one of the first auto manufacturers to offer hybrid technolo...
The business world is becoming more and more heated up as a result of the ever increasing levels of competition. Each and every industry is witnessing an alarming rate in the number of competitors that exist within it. This is further fueled by the increasing world population, which brings about the speculations that the future of the market is rather bright. It is interesting as to how many things are nowadays done based on speculations and future expectations. In the turmoil of it all, marketing has been established as a very effective tool used by various firms to gain competitive advantage over others. As such, each organization has been able to develop its own marketing strategy based on the various things that affect the industry and the nature of business undertaken. Theories and practical research are two major items that form the basis of development of marketing strategies. Rolls-Royce is one of the many organizations that have been in big business for a long time. As such, the company has been able to identify major areas of strength and weakness when it comes to marketing.
According to Toyota, they have undertaken a manufacturing revolution that has fundamentally changed established practices; all the way back to the product development and design. They have done this by integrating four areas: design, production engineering, procurement, and component supply. They have achieved higher quality at lower costs by creating standardized, multipurpose components. Also the reduction in cost has heightened the value and fortifies the competitiveness of product. To do this, Toyota has required intensive coordination with its suppliers. Another factor of their Integrated Low Cost is that Toyota steadily feeds cost improvements back into the product to raise their value along with the fact that four Toyota’s seven corporate auditors are outside corporate auditors.
Strategic management Toyota case study. 2013. Strategic management Toyota case study. [ONLINE] Available at: http://www.slideshare.net/ArioArdianto/strategic-management-toyota-case-study-27410014. [Accessed 15 December 2013].
This assignment focuses on internal analysis of Ford Motor by doing SWOT analysis and external analysis by doing Pestle analysis. The assignment also focuses on the strategic performance analysis on the basis of Porter’s Diamond Model, BCG Matrix and Blue Ocean Strategy. SWOT analysis showed that, Ford Motor has strength on heritage, global aspect, brand name, innovation etc. It has weakness on market share, global competition and affected by economic recession. The opportunities lie on small cars, fuel efficient cars and production market in India and China due to lower cost. Threats are coming from high price of petrol, raw material, labor and competition from other companies. Pestle analysis showed that, Ford maintained worker friendly company and able to cope up with financial crisis during recession. They focused on advertisement. Also go for joint venture with Microsoft to bring new technology in the car. They produce environmental friendly cars. A...
Having both marketing strategies and both products analyzed and the history of the important marketing decisions made and techniques used by the company written down, it will be interesting to perform a critical analysis of how the market and business realities made an impact on the marketing of Tesla Motors, why it happened and what was the effect. The presence of the CEO and the impact he makes on the public and investor confidence will also be critically reviewed. Based on the results, a list of recommendations will be composed for both representatives and marketing specialists who work in the same or similar
Toyota’s innovative nature allows them to produce quality products and maintain their brand image, even if it is at a higher cost. However, their customer base is also aware of their reliability, despite numerous recalls which dampened the organizations name, yet they are still willing to remain loyal customers.
Toyota’s uses both differentiation and low cost as generic strategies to try and gain a competitive advantage over their competitors in the automotive industry. The market scope that Toyota uses is a broad one that encompasses nearly every type of customer that is in the market to purchase an automobile. Toyota is able to target such a large market because they have something for everyone. Toyota has four wheel drive trucks and SUVs for the outdoor types or those who live in areas that face severe weather conditions, hybrid models like the Prius for the eco-friendly customers that are interested in saving the environment, along with the standard cars for general, everyday use. Additionally, Toyota provides vehicles for all price ranges.
Toyota Motor Corporation is one of the largest automakers in the world. At its annual conference in Tokyo on May 8, 2008, the company announced that activities through March 2008 generated a sales figure of $252.7 billion, a new record for the company. However, the company is lowering expectations for the coming year due to a stronger yen, a slowing American economy, and the rising cost of raw materials (Rowley, 2008). If Toyota is to continue increasing its revenue, it must examine its business practice and determine on a course of action to maximize its profit.
(5) Liker, Jeffrey K. The Toyota Way: 14 Management Principles from the World's Greatest Manufacturer. New York: McGraw-Hill, 2004. Print.
The global company Mercedes-Benz is considered one of the most successful and well-known automotive companies worldwide. Since 1886, the company’s founders Gottlieb Daimler and Carl Benz made history with the invention of the automobile, including the Daimler Group, which is one the biggest producers of premium cars and the world’s biggest manufacturer of commercial vehicles globally (Daimler, 2013). Their main focus is innovation, safety, technology, style, brand image, expansion, and superior automobiles by offering the best of the best to consumers worldwide. The brand’s philosophy is to continuously create radically new products to advance the cause of human mobility. It is also the number one luxury brand in the United States and Germany while continuously expanding in China and Russia as well (Interbrand, 2013). Mercedes-Benz has a great selection on divisions such as cars, trucks, vans, buses, and financial services offered to any consumer or business. Their global reach has increased tremendously by including production facilities in 17 countries on five continents and having 93 locations worldwide. As a pioneer of automotive engineering, their strategy is to continue the same pioneer role with the ongoing development of mobility, especially in the areas of safety and sustainability (Daimler, 2013). It is very essential for the company to focus on consumers’ needs and their highly well known brand in a competitive global economy. That is why the company Mercedes-Benz releases a brand new model every year to stay on top of its competitors by improving previous models. Some strategies practiced are global marketing, global product development, global product pricing, global advertising, global distribution, an...
Toyota has adopted an expansion strategy aimed at increasing the company’s market share through sustainable growth. This will be done based on the delivery of high quality, and safe cars, at an affordable price. As the company seeks to expand to new markets, focus will be on maintaining an organizational culture that allows optimum efficiency in the ever dynamic global market.