For Toyota” company customers comes first” is the main priority. Being an excellent brand of automobile company Toyota, the promoting Strategy of this company concentrates on the higher section of its individual customers. The competitors of Toyota are, Ford, Volkswagen, and Honda. These companies are providing some good features in their automobiles on other hand Toyota was following their old techniques only. After the overseeing the revenue Toyota has decide to accept or change their working procedure, they have started use of new technologies, new innovation in their automobiles (Armstrong, et al., 2014). The marketing Strategy of the Toyota, that customers is first priority for them and according to the demand and feedback of customers they made some changes in their products and services. The main purpose of marketing research of any company is to know that: What is the demand of Customers? Threat poses company? Context of business is changing? Role collaborators play in the process? All these factors affect the market research of any company (Baker, 2014). Here further we will discuss about 5cs of Toyota in brief:-
Toyota Motor is automobile company in Japan. Toyota Company contained 333,498 employees global. As of January 2014, after research this is the 14th largest automotive company in automobile industry (Lockrey, 2015). By production this company was the largest automobile manufacturer company in 2012. Toyota was founded by Kiichiro Toyoda in 1937. It created its first product, a passenger car in 1936 (Scott, 2015).
Improvements in the product and qualities after listen the customer voice and feedback regarding the product is the concept of Toyota Company. In 1982 Toyota motor co., Ltd and Toyota Motor Sales Co., Ltd were merged from new Toyota Motor Corporation. By the delivering voice of the customer to relevant department the entire company strives to ensure the satisfaction to improve the customer support and product quality. Basic philosophy of the Toyota Company is customer first and quality first.
Principle of Toyota Company is fair business activities with their partners, suppliers, and distributers to raise the quality and services of the company in terms of customer’s safety and confidence, and work hard for increasing the customer satisfaction.
In every good or bad situation Toyota and its suppliers have faced same issues and solved it together in a very easy manner (Tuten, and Solomon, 2014). Toyota has built a strong trust and good relationship with his suppliers and distributers to achieve the mutual benefits and trust. Toyota has also introduced the policies of basic purchasing that include an open-door policy which introduce the fair competition, mutual trust base on mutual benefits. Also Toyota request to their suppliers to provide their own CSR activities to maintain the customer trust.
Thought Toyota is the world’s biggest automobile manufacturer company but it has competitors also. Major competitors of Toyota is FORD, Volkswagen, Honda, and GM. For dis American multinational company, products of ford who give major completion to the Toyota is:
Volkswagen products: A German multinational company in worldwide.
Honda Product: A Japanese multinational company in worldwide.
GM Products: General Motors is an automobile co. in worldwide.
This are the major competitors of Toyota which give competition to it.
Valuation multiples can change according to the many internal and external risk factor tis factor also important to understand for investors. These factors such as:
Toyota is an established company, so this is important that investors of Toyota pay attention to factors that can increase the company risk. To perform better in market, Toyota has been pressurized. Due to strengthening its overseas that revenues are likely to fall down. So, to avoid the company loss Toyota introduced some marketing strategies to their suppliers, distributers.
Unfavorable currency fluctuation is also affect the Toyota revenues. Investors of Toyota should always keep eye on the money movement in coming quarters. Especially the US dollar and the euro. Fluctuation in these two currency would hurt the profitability of company, which effect the future earnings growth of the company (Parente, and Strausbaugh, 2014).
Toyota Company has decided to expansion in the business so they introduce some new technologies, the future of the cars will be natural gas biomass and range of renewable. These techniques will help to storage the electricity and future oil production cost. Toyota displayed number of variety of alternative energy vehicles. Toyota also introduced “the Third Generation of Prices Hybrid” concept and small battery power called FT-EV concept also. By using these techniques Toyota introduced an urban electric car in 2012.
Armstrong, G., Adam, S., Denize, S. and Kotler, P., 2014. Principles of marketing. Pearson Australia.
Baker, M.J., 2014. Marketing strategy and management. Palgrave Macmillan.
Lockrey, S., 2015. A review of life cycle based ecological marketing strategy for new product development in the organizational environment. Journal of Cleaner Production, 95, pp.1-15.
Parente, D. and Strausbaugh-Hutchinson, K., 2014. Advertising campaign strategy: A guide to marketing communication plans. Cengage Learning.
Scott, D.M., 2015. The new rules of marketing and PR: How to use social media, online video, mobile applications, blogs, news releases, and viral marketing to reach buyers directly. John Wiley & Sons.
Tuten, T.L. and Solomon, M.R., 2014. Social media marketing. Sage.
To export a reference to this article please select a referencing stye below:
My Assignment Help. (2019). Marketing Plan Of Toyota Automobile. Retrieved from https://myassignmenthelp.com/free-samples/marketing-plan-of-toyota-automobile.
"Marketing Plan Of Toyota Automobile." My Assignment Help, 2019, https://myassignmenthelp.com/free-samples/marketing-plan-of-toyota-automobile.
My Assignment Help (2019) Marketing Plan Of Toyota Automobile [Online]. Available from: https://myassignmenthelp.com/free-samples/marketing-plan-of-toyota-automobile
[Accessed 26 January 2021].
My Assignment Help. 'Marketing Plan Of Toyota Automobile' (My Assignment Help, 2019) <https://myassignmenthelp.com/free-samples/marketing-plan-of-toyota-automobile> accessed 26 January 2021.
My Assignment Help. Marketing Plan Of Toyota Automobile [Internet]. My Assignment Help. 2019 [cited 26 January 2021]. Available from: https://myassignmenthelp.com/free-samples/marketing-plan-of-toyota-automobile.
MyAssignmenthelp.com is the perfect solution to render quality solution for all sort of academic issues. We have hired professionals from different fields of study to provide assistance with different subjects. We successfully have provided different types of assignment solutions on 100+ subjects. We have hired industry experts to deliver nursing assignment, hr assignment and finance assignment help. To offer quality content with IT assignments, we have hired IT professionals to render programming language assignment help and IT assignment help for other types of IT assignments as well.
Answer: Introduction and Company background Reliance Jio limited is the subsidiary organisation of Reliance industries limited that is known as India's largest private sector organisation. Reliance is the first telecoms service that managed to hold pan India Unified Licence. This licence allows the company to offer all telecommunication related service starting from global mobile personal communication. Reliance Jio has a spectrum of almost ...
Read MoreAnswer: Purpose- To evaluate the attractiveness of Indian market as an international market expansion strategy for Globe International. Scope- A brief analysis of the various micro and macro environmental aspects linked with the Indian Market with a focus on PESTLE analysis, competitor analysis, market segmentation and target market. ØName- Global International ØFounded in the year- 1985 ØBackground- producer...
Read MoreAnswer: Introduction: Human resources are the most valuable assets of any marketing-company of the modern era, and this fact cannot be denied at all (Petruzzellis, 2010). Though technology has covered a huge corporate portion, still this fact remains that technology is invented by humans only. Contemporary organization has experienced tremendous shift in marketing techniques and processes. Companies currently are making use of social med...
Read MoreAnswer: The growing environmental crisis has made the consumer more aware of the products they use and the way they impact the environment. This change in consumer behavior has forced business organisations around the world to market their products in a way that connects with the consumers and allow them to have competitive edge over others. Marketing sustainability thus is a comprehensive part of the business strategies and is being implement...
Read MoreAnswer Trends and Needs for the Market There has been a stream of path-breaking trends in the automobile industry that have continued effect how automobile companies conduct their activities. First, the increasing cost of safety and environmental regulations is a concern in the auto industry (Vox, 2018). Some nations like China have formulated strict emission standards for large cities similar to Europe’s with only a short grace period ...
Read MoreJust share requirement and get customized Solution.
Orders
Overall Rating
Experts
Our writers make sure that all orders are submitted, prior to the deadline.
Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.
Feel free to contact our assignment writing services any time via phone, email or live chat. If you are unable to calculate word count online, ask our customer executives.
Our writers can provide you professional writing assistance on any subject at any level.
Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.
Get all your documents checked for plagiarism or duplicacy with us.
Get different kinds of essays typed in minutes with clicks.
Calculate your semester grades and cumulative GPa with our GPA Calculator.
Balance any chemical equation in minutes just by entering the formula.
Calculate the number of words and number of pages of all your academic documents.
Our Mission Client Satisfaction
I am writing to you to let you know that I am extremely impressed with your recent work. You\'ve dedicated years of service to this company, and your work exemplifies and principles now more than ever. Thank you for all that you have done to help us ...
Australia
Very good experience, so happy with the result. Very highly and strongly recommend this website.
Australia
I got a good price and quality work was provided to me in a short period of time. I scored really well in my assignment. All the rework was done in time which is great.
Australia
They have provided me with work having 0% plagiarism which really helped me to score well in my assignment.
Australia