US 6412 Franchising and marketing management harpreet brar Student ID 15101 Task 1 Toyota is a big car company in world Toyota have a franchises all over the world normally Toyota is famous for good cars day by day this company going is growing and nowadays Toyota also start design electrical goods and other so ,any things .this company stablish in 1867 . and now this company is in all over the world and mostly Toyota have franchises in every country and individuals also have good experience with this company . Ans1.1 Single product or service Single product franchising that to sell single type of product in this the duty of enterpriser is to manage the single unit of company Toyota is also a single service company because Toyota only …show more content…
Payment and liabilities for products and service Every franchise of Toyota has to pay fee for sell their product in country and to prove business in individuals and in whole country. Goodwill In Toyota franchising they gain benefits through marketing their products all over the world and make goodwill in whole countries for their product and Toyota also have a good reputation in all countries. Royalties Royalties is a usage-based payment made by one party (the "licensor") to another (the "licensor") for the right to ongoing use of an , sometimes an intellectual property (IP). Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and metrics of compensation. (wikipedia) Other resources Toyota ale also provide a benefits to their employs by promotions and giving rewords from their company which is very good for their employees . Ans1.5 Responsibilities of …show more content…
first we needs to find a correct place to start business it is not nssery we will get a profit in starting . if I decide to open a Toyota franchise or showroom first I needs to ,manage all money . Then I needs to find correct place where I can get good profit and good sales of my products in franchising we cannot know what will happen next as a example like in starting of franchise franchisor got profit it is not nassery he or she will got profit next so cannot say anything without knowing Range, availability and quality of products Toyota provides a good products with good quality and in reasonable prices Toyota also provides a good offers with expensive products nowadays Toyota products are on higher sale most of people like only the Toyota products quality and Toyota also provide a good customer and retail service as will Toyota have 7 retail stores in UK and they are going to develop more showrooms in all countries. Toyota also provide a warranty with their products and other Range of help as
Are you deciding to go into the franchising business? How do you know which business you should go into?
The reason America needs restaurant franchising companies is so more restaurants will succeed and help people realize their dreams of opening their own restaurant. The need for a restaurant franchising company is more prevalent then most people may realize. According to BloombergBusinessWeek.com, 60 percent of all restaurants fail. I believe that with my franchising firm I could help future business owners reach their personal dreams and financial goals. The most successful restaurants started out as small businesses (franchoice.com). McDonald’s started out as two brothers making milkshakes. This means that any small business can become an international franchise in time.
For over fifty years, Toyota has established over 50 bases in 26 different countries and regions. Their automobiles have found their way into over 170 countries across the entire globe. In addition, Toyota has design and R&D bases in nine locations overseas, with this they prove that they have achieved consistent globalization as well as localization. The most important part in any Toyota base is the quality assurance. They don’t stamp their product with “Made in the USA” or “Made in Japan”, but instead opt for one label for all: “Made by TOYOTA.” This shows that the product is made in the “Toyota Way.” To achieve this, the company minimized support that comes from Japan to let each of their foreign locations become self-reliant. For example, a Toyota plant recently began production in Texas has made maximum use of its sibling’s experience in Kentucky which has been cultivated over the past 20 years. Toyota believes that in order to reach their goals is through educating people. Multiple Global Production Centers have been built within Motomachi Plant in Toyota City, in United States, the United Kingdom, and Thailand to carry our corresponding activities in the Asia-Pacific, European, and North American regions. To promote the “Toyota Way”, the Toyota Institute established an internal human resources development organization in North America, Europe, Asia, Africa and Oceania. As you can see the pros of the globalization of Toyota are endless. This company alone has created millions of jobs across the world. Winners are not only the workers, but also the buyers, without globalization Toyota automobiles would only be available in Japan. Many people, including me, see globalization of this kind as a beneficial and advantageous result. Toyota companies have not only created jobs for thousands if not millions of people, but their
According to Daniels(2004), franchising is a specialized form of licensing for the franchisor. Not only sells an independent franchisee the use of the intangible property essential to the franchisee’ business but also operationally assists the business on a continuing basis through training and sales promotion.
Entering into a business in general can be quite a challenge especially when an entrepreneur still lacks enough knowledge and experience in business. The study came up with a model that would determine if the franchise will succeed or fail. The researchers also cited some of the factors that may affect the economic sustainability of the franchise. The experience background of the franchisor contributes greatly to the viability of the business because: first, franchise business concepts are developed by the franchisor in a standardized manner although these concepts are subject to change by acquiring a first-hand experience with meeting the clients and adapting to their needs and; second, with the experience acquired by the franchisor through the years, the risk of committing errors are less likely to
The management style at Frito-lay tends to involve a lot of needless procedure and personal that proves to make a simple problem complicated. The Toyota company with it’s keep it lean theory keeps the process of doing business as simple as possible. Where at Frito-Lay when there are a problem the sales person has to call the district sales leader who then in part has to get the need information from the people above him. At Toyota if there is a problem then the person who discovered the problem has the freedom to halt the procedure and do what is needed to correct the deficiency.
Not having to answer to a corporate boss is the dream of many and the flexibility that owning a business franchise creates provides this option. Success is not reached by simply creating a business, however. The level of success is measured by the size and efficiency of the business. Business growth is the driving force of the economy. The additional jobs and revenues created when a business expands allow the economy to grow at exponential rates. One of the fastest and most popular ways to increase the size of a business is to turn it into a franchise, which can then be purchased by individuals. Franchising provides opportunities that are beneficial to both the parent company and the purchaser. The company that owns the business can expand without having to pay such a large initial cost to open a new store since the franchise purchaser pays a cost to open the business. As well, the company can regulate many of the business activities so that there is a sense of consistency throughout all of the locations. The purchaser is allowed to use the trademarks and goods of the franchise which already have a large market presence. As well, they are provided with training and work standards by the company to help their business run smoothly (Kalnins & Lafontaine, 2004, p.761). Looking at the business model of the world’s largest food retailer, McDonald’s, provides great insight into franchising and business growth in general as well a better understanding of a global business that utilizes the franchising technique.
The HRM strategy in Japanese companies is supported by the six pillars of Japanese employment practice lifetime employment, company welfare, quality consciousness, enterprise unions, consensus management and seniority-based reward systems. Toyota is at the heart of global manufacturing, a company that has grown over 70 years to become the world's third largest vehicle manufacturer. (Toyota worldwide 2006) Toyota is the seventh largest company in the world and the third largest manufacturer of automobiles, with production facilities in 26 nations around the world employing more than a quarter of a million people. The decision to manufacture in Europe was based on a corporate policy of building vehicles where the customers are and The United Kingdom was chosen for many reasons including its history of vehicle manufacture, the large domestic automobile market, its components supply base and its excellent links with the rest of Europe.
Manufacturing Franchise: These types of franchises provide an organization with the right to manufacture a product and sell it to the public, using the franchisor’s name and trademark. This type of franchise if found most often in the food and beverage industry. Most bottlers of soft drinks receive a franchise from a company and must use its ingredients to produce, bottle, and distribute the soft drinks.
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.
Making the decision to open your own business is a major life event. Starting a new venture can be exciting as well as rewarding. The first step to becoming a business owner is choosing the type of business you would like to run. This business can be something that you have wanted to start up yourself or you can go with an established franchise. Are you willing to share the profits in exchange for the relative safety of a franchise or would you prefer the risk and rewards of pursuing your own vision? Franchising is a continuing relationship wherein a franchisor provides a licensed privilege to the franchisee to do business and offer assistance in organizing, training, merchandising, marketing and managing in return for a monetary consideration
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.
Toyota- focused differentiation, medium pricing, breadth of product line is low. Company is known for quality products, and nice styling.
The first step in any business is to think of or create a business idea. Without an idea, one cannot launch their business off the ground. A right direction is needed to create a business with a unique idea. However, other options include franchising or buying an existing business (1). Franchising allows an individual to run stores such as Burger King or McDonalds under the corporate name. It involves taking training classes and a heap of money in order to start a franchise. A Franchisee will have to buy products and services from the corporate entity they are franchising from, which is often required. Buying a franchise is like taking a piece of the pie from the company that is franchising and sharing that pie with everybody else. In addition having a franchise allows one to communicate and in essence become a big part of an added business opportunity (4). Franchising is far from easy to start and maintain for that matter. Starting a franchise involves a l...
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.