Concept of International Marketing for Toyota

This report provides an overview of the concept of international marketing and its significance for Toyota. It discusses the rationale for entering international markets and the opportunities and challenges associated with it. The report also explores the selection process and criteria for entering international markets, as well as the different market entry strategies that Toyota can employ. Additionally, it offers insights on market evaluation and recommendations for Toyota's international marketing efforts.

INTERNATIONAL
MARKETING

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK 1............................................................................................................................................3
LO1..................................................................................................................................................3
P1 – Concept of international marketing ...................................................................................3
P2- Rationale of entering internationally ....................................................................................4
M1- Opportunities and challenges ..............................................................................................4
LO2..................................................................................................................................................4
P3- Selection process and criteria ...............................................................................................4
P4-- Market entry strategies ........................................................................................................5
M2- Market evaluation and recommendations............................................................................7
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
International marketing refers to the performance of activities of business which is being
designed to promote, price and plan and directing of movement of organisation product and
services to customers in more than one nation for making profit (International Marketing, 2020).
Toyota is Japanese auto mobile multinational company that provides high end cars all over the
world. Present report will brief into varied concepts on international marketing, their strategies
and will give broad description about the same.
MAIN BODY
TASK 1
LO1
P1 – Concept of international marketing
It is being defined as marketing of Toyota on the scale which is being worldwide and
which implies to take global operational differences, opportunities and similarities which leads
the firm to reach towards its objectives which are global in nature. This in simple term can be
understand a trading of product of Toyota among various countries. It is simply the application
of principle of marketing to more than one countries. For doing this it is being required by the
company to properly function and understand aspects which are related that with economic,
social and legal forces within which company is planning to market its goods and services. The
scope of international marketing relates with knowing the needs and wants of customers being
underserved which as a result leads with increase in sales revenue and profitability of company.
It thus leads with establishing of image which is easily recognisable and helps with building trust
and loyalty of customers (Sheth, 2020). It is the application of principles of marketing to satisfy
the needs and wants of various people who are being residing across the national border. It is
being undertaken in more than one region.
The scope of this is it relates with reaching to large number of customer base easily and
to promote goods and services being offered by Toyota. This helps in growing up in international
market. The scope leads with exporting of products and services in foreign markets which leads
with creating lot of job opportunities and leads with employment creation all across the world.
This leads with rapid industrial growth of the country and leads company to manage with its
surplus production which serves with effective decision making process in the company

(Morgan, Feng and Whitler,2018). This is the application of principles of marketing to meet the
needs and wants of different customers who are being residing across the border which are
international.
P2- Rationale of entering internationally
It is being important on the end of company to enter in international market as main
motive serves with increasing the sale revenue and profitability margins of company. This helps
with building global presence of company whereby it becomes easy for the clients to recognise
the services and products of company and leads with building of brand loyalty and trust of
customers,. By this it helps in effective promotion of goods and services of company which leads
with retention of customer and helps the company to easily differentiate its goods and services
with that of its competitors and helping in getting an edge over the competition and winning in
the marketplace(Cateora,2020).
This helps the company to open the door for future opportunities for Toyota, it relates
with knowing the strengths of company which can be exploited in favourable manner to capture
huge customer base and knowing of weaknesses which can be improved in order to eliminate the
flaws and errors committed in day to day business operation of company to satisfy needs and
wants of customers. This is important as it will llicensingead to generating of awareness of
company products and services which can be considered by customers while making their
purchase decisions (Hult, 2018). The various routes to enter is exporting, franchising, licensing,
joint venture and others.
M1- Opportunities and challenges
By having international marketing it leads with opportunity to expand the business which
leads with growth of company in every aspect . It provides return on investment and challenge
can be associates with facing of competition, cultural difference which leads with slow growth
of company where investment can be hindered if needs and wants of customers are not be
satisfied.
LO2
P3- Selection process and criteria
There are various parameters to use when considering to enter international market of
Toyota which leads determining

Setting international objectives of marketing- This determines with implies with export
marketing objectives of the company. The task and activities needs to aligned with the objective
which will leads with effectiveness of achievement of objectives. This will help in providing
direction of what needs to be done and how it needs to be done
Selection parameters- It needs to decide on various parameters which takes in consideration of
environmental analysis that is being international, situation in market, policies of government
and competitors strategy
Preliminary screening- This leads with removing of markets which are not being potential. It
may vary from offering of company . This includes criteria such as population size, per capita
income level, economical structures, infrastructure factor and various others.
Market short-listing- There are wide range of markets being left out after preliminary screening
which can be further accessed by having lot of information which will be selected and targeted In
favourable manner (Leonidou,2018).
Evaluation and selection- This relates with selecting the market which will help in generating
revenue out of it and leads with various cost benefit analysis and will helps in undertaking
feasibility study. The best chosen market will leads with getting the launch of goods and services
of Toyota.
P4-- Market entry strategies
Their are different market strategies which can be used by company to have international
marketing which increase and expands with the business operation and leads with establishing
the global presence of the company and make to encounter the customer base what are the
product and service offering
Exporting –
This is sale of products and services directly to another country. This is the nest known
market for entering into foreign market and with the minimised risk. It is the cost effective
strategy where it is not of need to invest in facilities of production in chosen country as all
goods are still produced in the home country which is Japan for Toyota. It is of disadvantage as
it increases the transportation cost which are likely to increase with cost of exporting in coming
future(Asseraf , Lages and Shoham, 2019). it is being defined as the sale of goods and services
in foreign countries that are being sourced and made in the home country. Importing is the

opposite of exporting which refers to buying of goods and services from various sources outside
the home country. It is beM1- Opportunities and challenges
By having international marketing it leads with opportunity to expand the business which
leads with growth of company in every aspect . It provides return on investment and challenge
can be associates with facing of competition, cultural difference which leads with slow growth
of company where investment can be hindered if needs and wants of customers are not be
satisfied. It is being generally referred as goods and services produced in one country but are
being sold to buyer abroad. This is one of the oldest form of transfer related with economic
means which occurs on the large scale of nation. It implies with huge marketing which requires
individual to be highly skilled and talented which leads the company to generate high sales
revenue and increase with the profitability margins of the company, hence leads with increase in
brand loyalty and trust and empowers with deriving of customer satisfaction.
Licensing-
It relates with allowing other company in the country of target to use the property. The
question in property is normally not tangible where for example it relates with trademark,
copyright, patent and various others. This is of advantage as it will leads with giving the right to
use the property. It requires less investment and can give return which is being high and will
take care in marketing and manufacturing cost in international markets. It is an official
permission or permit to do , use or own something. It is being granted by one party to another
party as an element of agreement between those parties. In a license agreement, the business
owner, who is the licensor, grants with the licensee the right to use the licensor brand name and
or the intellectual right of the property such as copyright and other which are being invariably
exploited through the licensing. It involves permission from the company that is the licensor to
sell and manufacture one or more goods and services within the defined market area. The
company which have these rights usually agrees to pay the fee which relates with the royalty to
the owner who is being oiginal
Joint venture-
It consist of 2 companies establishing a business which is being jointly owned. This is of
advantage as it allows with benefit of local knowledge of international market and allows to
sharing of cost. However it can be of disadvantage where issues related with investment and
sharing of profit comes to place. It is the business arrangement in which two or more parties

agree to pool with their resources for the purpose of accomplishing the task which leads with
increase in the sale revenue and profitability margin of the company, The task can be new project
or any other business entity licensing
M2- Market evaluation and recommendations
Test marketing- This will relate with testing the launch of goods in smaller marketplace which
will leads with assessment of a[Online] ny feedback being provides and which will helps the
marketers to assess with the response which can be associated with customer which can be
favourable and non favourable as well.
Commercial production- Once the good is being tested and reviews are being collected lastly it
relates with going with mass production of manufacturing vehicles of Toyota.
It is being recommended to company that it invest in the strategies which are being cost
effective and helps in getting valuable insights about the needs and wants of customers. It is
being recommended to company to hire qualified professional and use of high end technology
which leads with facing challenging environment and support business dynamics.
CONCLUSION
From the above report is is being concluded that to have business internationally and to
promote the products and services it requires huge amount of planing taking into consideration
every single aspect. Report has concluded with how marketing contributes to strategy
international context, briefed with selection process of international market. Determined with
difference between local and global marketing, with international marketing mix and has
explained with various approaches to international marketing.

REFERENCES
Books and Journals
Asseraf, Y., Lages, L.F. and Shoham, A., 2019. Assessing the drivers and impact of international
marketing agility. International Marketing Review.
Boso, N., Debrah, Y.A. and Amankwah-Amoah, J., 2018. International marketing strategies of
emerging market firms. International Marketing Review.
Cateora, P.R., and et.al .,2020. International marketing. McGraw-Hill Education.
Ewah, S. and Osang, J.E., 2018. Influence of cross cultural differences on international
marketing. International Journal of Academic Research in Business and Social
Sciences. 8(7). pp.363-376.
Hult, G.T.M., and et.al., 2018. Addressing endogeneity in international marketing applications of
partial least squares structural equation modeling. Journal of International
Marketing. 26(3). pp.1-21.
Leonidou, L.C., and et.al., 2018. International marketing research: A state-of-the-art review and
the way forward. Advances in global marketing, pp.3-33.
Morgan, N.A., Feng, H. and Whitler, K.A., 2018. Marketing capabilities in international
marketing. Journal of International Marketing. 26(1). pp.61-95.
Sapouna, P.,and et.al., 2018. Market withdrawal, international orientation and international
marketing: Effects on SME performance in foreign markets. In Advances in Global
Marketing (pp. 281-303). Springer, Cham.
Sheth, J.N., 2020. Borderless media: Rethinking international marketing. Journal of
International Marketing. 28(1). pp.3-12.
Shin, M.M., Noh, E.J. and Lee, J., 2018. Study abroad programs as a service convergence: an
international marketing approach. Service Business. 12(2). pp.253-275.
Solberg, C.A., 2017. International Marketing: Strategy development and implementation.
Routledge.
Tien, N.H., Phu, P.P. and Chi, D.T.P., 2019. The Role of International Marketing in International
Business Strategy.“. International Journal of Research in Marketing Management and
Sales.1(2). pp.134-138.

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