Introduction to Marketing - Toyota

INTRODUCTION TO
MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Marketing Strategies implemented by Toyota and Volkswagen. ..........................................1
TASK 2............................................................................................................................................4
A innovative idea that could be applied to improve the marketing approaches of Toyota....4
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing is the most essential function of business. It is activity that is associated with
buying and selling of product or services. It includes advertising, promoting and selling of
product in the market (Sargeant and MACQUILLIN, 2016). It is the process of getting customers
interested in company's product and services. The main intention of marketing is to know as well
as understand the customers so that there expectations can be fulfil. There are totally five
concepts of marketing that includes production, product, selling, marketing and societal concept.
In this present report, Toyota company will be chosen for assessment. Company was founded 28
August by Kiichiro Toyota. The headquarters are located in Toyota, Aichi and Japan. This
present report will critically measure the company's current strategy of marketing. Further, this
assessment will also provide new or innovative idea that company would be interested in
applying to improve its marketing strategy and approaches.
TASK 1
Marketing Strategies implemented by Toyota and Volkswagen.
Background of Company and its Market Place
The automotive industry is a broad range of companies involved in the design,
development, manufacturing, marketing as well as selling of motor vehicles. In terms of revenue,
it is one of the most significant industry which is 9% and £2.75 million in 2017 (Toyota Report.
2017). The origin of Toyota lies in Japan weaving industry when Kiichiro Toyota invented the
world's first automotive loom. Toyota is one of the biggest auto-mobile manufacturer of
company. The recognized names of company is Toyota Jidosha KK that is usually shortened to
Toyota. It us public limited company that was founded in 1937. Its headquarters are located in
Toyota, Aichi and Japan. Takeshi Uchiyamada is the present chairman of Toyota and Akio
Toyoda is the current president of company. The main product of company are automobiles,
Luxury and Commercial vehicles and engines. Banking, financing and leasing are the services
provided by Toyota (Armstrong, 2015). In sales of hybrid electric vehicles, Toyota is the world
largest leader in the market. Addition to this, in hydrogen fuel-cell vehicles, Toyota is also
leading in the world. The total revenue of company in 2017 was $1264.1 billion and it is 14th
largest company by revenue. The total number of employee currently working in Toyota are
369,124.
Marketing Strategies implemented by Toyota and Honda.
1

Marketing strategies are the most important action for all the business. It provides
company an edge over its competitors. It helps in developing goods and services with the best
profit making potential. It also helps company to identify there target market and to set
measurable goals (Sales of Volkswagen, 2017). The marketing strategy of Toyota is incredible as
there strategies reflect there mission and vision. The mission of Toyota is that will lead the
manner to the mobility in the future enriching lives around the world with the safest and most
responsible ways of moving people. They will meet there challenges goals by engaging the
passion and talent of people. On the other hand, the mission of Toyota is to create a vehicle that
are popular with the customers. The mission and vision are very clear and the marketing
strategies that are used by Toyota is 4P's of marketing mix. They are continuously achieving
success by the effectiveness in implementing the best marketing mix strategy. 4P's of marketing
identifies its strategies for its place, pricing, product and promotion.
Product- Toyota is dealing in diverse range of products and all the products they are
manufacturing are able to satisfying the needs and expectations of company. Product elements of
marketing ix analysis the output of company for the target customers. The product line of
company are automobiles, Lexus, Welcab series, marine products, spare parts and accessories
and engines. The automobiles are one of the most popular product and the luxury product is
Lexus. Company manufactures engines, spare parts, yachts and other accessories for marine as
well as automobiles (Totten and Cross, 2015). This shows that Toyota is dealing in wide range of
products and by this strategy they are able to reach to larger market as well wide range of
product also reduces the several risks or market. Where as the product of Volkswagen is totally
different as they offer or manufacture more luxurious products like, seating capacity, size,
engines and other features are more extraordinary as compare to Toyota.
Place/Distribution- The main place of Toyota for distributing its products is dealerships.
By giving dealerships to other companies, the product of company is able to reach to large
number of people and can cover huge area of the market. Retailers and dealerships are the two
main strategies of distributing products to large number of people. The major sales of company is
cover by these two channels of distribution. But the place elements of Volkswagen is quite been
vast than Toyota as it has its showrooms in Germany, Mexico, China, USA, Indonesia, Russia,
Portugal, Spain, Poland and in so many countries.
2