Marketing function is a very essential factor of business process. Over the years, Organisations have adopted different marketing process to reach their customers in an effective way, so that it is reflected in the market sales.The modern marketing approach is developed, as there has been change in the orientation of the companies approach to its target customers(Scott 2015). The convenient approach to modern marketing techniques is very important part of marketing process, which does not include the advantages of modern marketing techniques. Marketing strategy of companies hasbroader aspects and is affected by physical forces, political forces, societal forces and economic forces. Therefore, a company must go through research and analysis of the target market and its needs to get a proper outcome of its marketing strategies(Westwood 2016). With the globalisation and technological boom, organisations were forced to adopt all the modern techniques to consolidate a proper strategy for their marketing process. After globalisation, the geographic barrier has been reduced in the companies. Therefore, the companies have more opportunities to sell in the market. Toyota goes through mixed strategy of marketing to reach its customers. The traditional marketing approach are utilised by using TV ads, personal selling, direct selling, advertising through papers, public relations. The modern marketing approach is done through the social media advertising through YouTube Videos, media marketing and sports sponsorships are also the most important factor of marketing in Toyota.
The marketing approaches have changed over the years, because the companies have changed its orientation towards its customers. The traditional marketing techniques were focused into the production facilities of the products. The main criteria of the organisation were to concentrate more on producing goods as much as possible. Products were sold according the availability of the products(Wongleedee 2015). This approach was when there was evolution in industry and commerce. The mass production and distribution was called marketing. However, many manufacturers found that the merchandise was piling up without proper sales plan, which also affected the inventory cost and budgetary control(Royle and Laing 2014). The advertisements became more frequent in the sales process. The aggressive advertisements for the consumers and corporate started to heavily depend on the sales process. The more aggressive personal selling process was also important in that period. The aggressive tactics became very popular and put high pressure in the sales techniques. There have been rise in unethical approaches or false approaches in marketing techniques too.
Then came the marketing concept, which looked at the firm as a whole and developed different techniques(Royle and Laing 2014). This new technique considered the production, sales and consumers and developed new approaches to marketing. The implication was very effective according to the managers. The decision-making technique was also vitalised by this process. Sales forecast became easy and budgetary control was mechanised too. The three main points of the new marketing approaches are customer focus, coordination and profit orientation(Royle and Laing 2014). The customer focus factor of the organisations increased compared to the traditional approach of marketing. According to Westwood(2016), the customer became the centre of attention in the new marketing techniques. All the functions were focused in providing a solution for the customers. Understanding the buyers became essential for the companies. As per the suggestions of Peter Drucker, he said that marketing is the process of analysing the customer needs and the so well that products or the service should fits well with their needs(Royle and Laing 2014). The coordination elements should consist of the marketing mix as well as related to each other. The business activities related to all the process and function is also related to the product itself and must be viewed as a consolidated process. The profit orientation as a goal should be customer focused. The profitability decision and logical profit planning is also part of the marketing process. The relationship marketing and personal selling has emerged with the new techniques of marketing.
The traditional marketing process generally included Print media, broadcast media, direct mail of paper templates and direct telemarketing. The print media was a major source of advertisements for automotive manufacturing company. The newsletters, magazines, brochures and other printed materials were distributed in the market and consumers came to know about that from different sources. The broadcast media marketing included the radio advertisements and commercial broadcasts in radio programs and on air advertisements(Wongleedee 2015). This entertainment technology was very important tool to reach all demography of customers. Direct mailing through post cards, the brochures, the catalogue were distributed and the consumers were reached through the postal mails to attract the customers. The telephone marketing was used to deliver the message and to convince the customers. The telemarketers used aggressive sales techniques to reach the proper sales target. The midsized companies and small entrepreneurs engaged their company personnel or did direct mail marketing in the traditional way to reach its customers. As the focus was also to its customers,the television network was used advertisements thatlimited the marketing opportunities. A 30-second’s commercial’s cost was nearly 3.5 million dollars(Toyota-global.com 2018). The business budgets were also allocated accordingly. Television was the most effective form of advertising in the United States. The conveyance of the messages was clear with this media. The wide circulation of the magazines was also effective with respect to the products. The newspaper was a proper source of who had longer visibility period. According to Scott(2015), the marketing department and sales representatives were only the involved in the sales activity.
The modern marketing approach of companiesare more aligned with the company’s strategy, vision and mission. According to marketing scholar Kotler marketing strategy is more of a logic of marketing objectives. Once the business unit has formulated the strategies the end goals, they must analyse the program to reach the goals. The goals consolidate the business unit’s strategies. A well though strategies for the companies are initiation of a well thought process. The feedback and control process of the companies are also part of the marketing objectives. The era’s of different marketing strategies came from the production era, product era, selling era and marketing era are discussed in the above(Scott 2015). The new approach is more integrated in the newest approach. This modern techniques considers the target market, customer needs, integrated marketing and profitability of the actions. The most important aspect of modern marketing is the social marketing concept. To satisfy the consumer needs and to be in the consumer market for longer period of time social marketing must be considered. This also should be included in the overall marketing objectives(Scott 2015). The consumer wants and needs are more transparent in this aspect. The social responsibility of marketing should also be considered in the following process.
The main aim of this research is to critically analyse the both traditional and modern marketing techniques. The research also evaluates the reflection of the two-compared marketing process and how that applies to the Toyota has adopted marketing strategies. The aim also demands to be critical about the evaluation.
The main objectives of the research are
It has been found that the company faces challenges in convincing their customers about the safety and security needs of the cars. It is a communication gap of the marketing professionals that they could not convince the new customers of the safety needs covered in the car manufacturing mechanism. The customers of the company are losing confidence in the cars, which can lead to a crisis for this global organisation. Therefore, the firm needs to revisit the marketing process and adopt new marketing strategy. The proper targeting, segmenting and positioning of the identified demography of people is needed for the firm. Therefore, it is necessary to identify the problem in the marketing process that affects the overall performance of the organisation. To remain competitive and generate proper revenue, this crisis management through revaluate marketing process is necessary. Thus, it is one of the major criteria to be fulfilled in the organisation. Therefore, the real problem lies in the marketing approaches of the company. Toyota’s both marketing approaches needs to be evaluated that if the traditional marketing approaches is more effective or modern marketing approaches. The problem also lies in the marketing approach of traditional ways.Certain drawbacks in the process was identified regarding crisis management of not communicating the proper safety messages to the customers. The main criteria were to identify the gap in the traditional marketing approach and fulfilling that with the modern marketing approach.
Modern marketing system is one of the most important functions that a firm should take into account. To develop a proper relationship with the customers the modern marketing approaches is effective. Not only the 4 P’s there is another P that is involved in the marketing process which is fifth P known as Participation. Participation is letting the customers sneak a peek to the products or the services. This essential factor makes the marketing procedure more effective, which is included in the modern marketing techniques.
The company is recently facing issues regarding the customer’s confidence in their product, which have been identified in the problem statement. This has been primarily caused by communication gap between the customers and the marketing professionals in the company. The problem recognised in the company lies in the marketing approach. The traditional as well as modern marketing approaches are also a problem. The traditional marketing approaches considered different means of marketing that were favourable for different target segments but modern marketing approaches are more digitalised. Therefore, the customer profile of the product also varies. The modern marketing approaches are based on participation too. Therefore, both marketing approaches will be evaluated in the study. Toyota spends a huge amount in its marketing process. Therefore, this topic has been chosen keeping in mind the marketing crisis they are facing in their customers. Moreover, in the recent years they have adopted several modern marketing techniques (Johnsonet al. 2013). The rationale of the study also lies in comparing the effectiveness of modern marketing techniques with respect to the traditional ones. As well as evaluating the overall performance of the company. Moreover, in the recent trend the company’s most important function is
After 75 years of automobile manufacturing services and sales, this Japan based company became a leader in the industry in its own market industry as well as in the international market(toyota-global.com 2018). According to the trend in the marketing Toyota has also adopted different marketing techniques. Traditional techniques of direct marketing that include direct sales, retail networks and showroom sales of cars. In modern techniques of marketing, Toyota has adopted YouTube channels to reach its customers with this media advertisement approach. As from the sales in volume US is one of the most important customer of Toyota cars. They have spent huge amounts in these media advertisements too. The company has 635 billion yen capital as of 2017(toyota-global.com 2018). The company has become global market leader in automotive manufacturing and sales. In the recent years, the company is facing trust issues in their customer demographics and marketing management. Therefore, as per the area chosen for the research, the company possess proper opportunities of having a background of the research(Morgan 2012). The main criteria for choosing this organisation are also that the company has evolved from the traditional marketing approaches to modern techniques. They have also faced massive marketing challenges in the recent years regarding the sales of newer models of Lexus. Therefore, the company has a better platform of research. They are also adopting newer marketing techniques to take care of the marketing gap to win back their customers. Thus, the effectiveness of the modern marketing approaches can be analysing with respect to the traditional approach of the Toyota’s marketing department.
The First chapter of the study gives a brief introduction to the topic of marketing and its two different approach. It also contains initial foundations of the study. The rationale and research questions and objective is also given in this section.
The second chapter of this study in marketing approach consists of the theories of the related matter. The theoretical concept of marketing is analysed in the company’s perspectives. The mentioned theoretical framework and conceptual framework is also developed according to the need of the company. The identified gap is also one of the most important factors in implementing in the real implementation.
The third chapter consolidates the research methods and the implementation procedures. This chapter helps in implementing the principle of modern marketing approach in actual research methodology. This chapter consist of the research philosophy, research design, approach, and data collection process.
The fourth chapter is to take into account of the results. The fourth chapter is to be consists of the data collection process as well as the interpretation of the data. The qualitative and quantitative method of constructing the data and tables must be processed in the company. The chapter also interprets the data collected.
The fifth chapter of the study consist of the analysis and consolidation of the interpreted results. This chapter also highlights the conclusion of the factors of the research. The effectiveness of the marketing approaches will be analysed with respect to the company. The recommendation will be given as per the data analysed. Effective recommendation to perform better in the future will also be given.
The first chapter in the introduction is given after gathering preliminary data on the company and based on that the research questions and objectives are given. The research has been done in the introduction section and considered to be important part as per the relevancy of the topic. The organisation’s present scenario is also gathered in the process.
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