International Marketing Management docx

Running head: MARKETING
International Marketing Management
Name of the Student:
Name of the University:
Author Note:

1MARKETING
Executive Summary:
The report provides an insight into international market research of Toyota Corolla. The
model represents range of car manufactured by Toyota. The company has been one of the
renowned automobile makers in the international market place known for its efficiency and
technology. In fact, the success of the company has been a direct result of the operational
excellence. Toyota has considered the operational excellence into strategic weapon. Further, the
continuous success of Toyota in the implementation of the tools evolves from a profound
business philosophy that depends on the understanding of not only people but also human
motivation. The success of Toyota Corolla lies in the ability of cultivation of teams, leadership,
culture and devising strategy, building relationship with supplier and in maintaining learning
organization.
The report commences with an introduction of the product followed by its situational
analysis. The report also undertakes a market analysis of the product with respect to the
European and the market of United States. The report put forward discussion on the entry of the
product into the new market based on the market readiness. The report also maps the strategic
matrix of the product with market attractiveness, competitive advantage and choice of the entry
strategy. One is also able to get an idea about the marketing mix and the resource planning,
implementation control and the financial projections in relation to the product.

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Table of Contents
1.0 Introduction................................................................................................................................3
1.1 Background:...............................................................................................................................3
1.2 Objectives..................................................................................................................................3
1.3 Performance:..............................................................................................................................4
2.0 Situational Analysis:..................................................................................................................4
2.1 SWOT Analysis:........................................................................................................................4
2.2 PESTEL Analysis:.....................................................................................................................5
2.3 International Marketing Management Objective.......................................................................7
3.0 Market Analysis.........................................................................................................................9
3.1 Analysis of Two New Markets..................................................................................................9
3.2 Selection of a New Market Based on Market Readiness.........................................................11
3.3 Mapping Strategic Matrix in terms of:....................................................................................13
3.3.1 Analysis of Competitive Advantage.................................................................................13
3.3.2 Analysis of Market Attractiveness....................................................................................14
3.3.3 Establishment of the Choice of Strategic Entry................................................................14
3.4 Marketing Mix:........................................................................................................................16
3.4.1 Product:.............................................................................................................................16
3.4.2 Price..................................................................................................................................16
3.4.3 Place..................................................................................................................................16
3.4.4 Promotion..........................................................................................................................16
3.4.5 People................................................................................................................................16
3.4.6 Process:.............................................................................................................................16
3.4.7 Physical Evidence:............................................................................................................17
4.0 Resource Planning, Control and Implementation....................................................................17

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4.1 Critical Success Factors in terms of.........................................................................................17
4.1.1 Resource Allocation..........................................................................................................17
4.1.2 Scenario Analysis and Identification of Contingency Measures......................................19
4.1.3 Financial Projections.........................................................................................................20
5.0 Conclusion:..............................................................................................................................21
References:....................................................................................................................................22

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1.0 Introduction
1.1 Background:
The report aims at providing an overview of international marketing research for a global
product Toyota Corolla. It refers to a line of compact cars designed by Toyota. The car which
had been introduced in the year 1966 became one of the best selling cars across the world by the
year 1974. The sales of Corolla surpassed Volkswagen’s Beetle in the year 1997. In the year
2016, Toyota recorded sales of close to 44 million Corolla models across the twelve generations
(global.toyota, 2020). The series had however undergone major redesign. Toyota Corolla is
designed in Japan along with a twin known as Toyota Sprinter. The earlier model had a rear
wheel drive while the later ones were designed with a front wheel drive. There were however
four versions of wheel drive. The competitors of Corolla had been Nissan Sunny, Honda Civic
and the Mitsubishi Lancer that were introduced in the same year. According to Toyota’s engine
and chassis code, the chassis designation has been marked as ‘E’.
1.2 Objectives:
The product had the objective of (global.toyota, 2020):
 To increase the customer satisfaction through putting across higher service quality and
the value for the money.
 Put across an aggressive customer satisfaction program in relation to the car models that
helps in building customer relationship.
 To ensure maintenance of a substantial share of Toyota Corolla in the market where it
operates.
 To ensure up gradation of the society along with serving the nation.

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 Follow an ethical approach towards the customers and foster needs of customers.
1.3 Performance:
As far as the performance is concerned, Toyota Corolla has customary front wheel drive.
It also has a standard steering and is able to control the body motions. It provides a comfortable
ride quality in most of the situations. Besides, it also had an engine comprising of four cylinder
and capacity of 1.8 liter that produced close to 139 horsepower(cars.usnews.com, 2020). It also
has a standard and automatic continuous variable transmission (CVT). The estimated EPA
standard for the car is 30 mpg in the city and close to 38 mpg on highway that is considered
above the average.
2.0 Situational Analysis:
2.1 SWOT Analysis:
Strength
1. The car scored high on the aspect of
reliability and performance
2. Toyota Corolla generated close to 40 million
sales in a particular year (Lavasani, Jin & Du,
2016).
3. The car had a dynamic and elegant look with
chrome strips.
4. Comes with sufficient shoulder room,
headroom and legroom.
5. Have supportive features that led to a richer
driving experience.
6. Enabled with cruise control that makes
highway driving easier.
Weakness
1. Lack of capability in garnering volumes due
to intense competition
2. Available in the middle and upper segment
only and hence is expensive.
3. The changed designs of the later versions
did not sync with the customer choice.
4. The design of the Toyota Corolla models is
increasingly global than local
Opportunities Threats