Marketing Essentials: A Comprehensive Analysis of Toyota's Marketing Strategies

This assignment delves into the marketing essentials of Toyota Motor Corporation, a global automotive giant. It explores the key roles and responsibilities of the marketing function within Toyota, examining its interrelationships with other functional units. The assignment further compares Toyota's marketing mix approach with that of Bentley Motors, highlighting how both companies leverage the 7Ps to achieve their business objectives. Finally, it presents a comprehensive evaluation of Toyota's basic marketing plan, including SWOT and PESTLE analyses, market segmentation strategies, and a detailed budget breakdown.

MARKETING ESSENTIALS

Contents
INTRODUCTION................................................................................................................................2
TASK 1..............................................................................................................................................3
P1, M1..........................................................................................................................................3
EXPLAIN MARKETING FUNCTION ROLES AND RESPONSIBILITIES IN TOYOTA.............................3
P2, M2..........................................................................................................................................6
KEY ROLES AND RESPONSIBILITIES OF MARKETING AND ITS INTERRELATIONSHIPS WITH THE
VARIOUS OTHER FUNCTIONAL UNITS OF AN ORGANIZATION....................................................6
TASK 2..............................................................................................................................................9
P3, M3..........................................................................................................................................9
COMPARISON OF THE WAYS IN WHICH TOYOTA AND BENTLEY MOTORS APPLY MARKETING
MIX TO THE MARKETING PLANNING TO DEMONSTRATE HOW TO ACHIEVE THE BUSINESS
OBJECTIVES..................................................................................................................................9
TASK 3............................................................................................................................................14
P4, M4........................................................................................................................................14
EVALUATION AND COHERENT EVIDENCE OF BASIC MARKETING PLAN OF TOYOTA................14
CONCLUSION.................................................................................................................................22
REFERENCES...................................................................................................................................23
1

INTRODUCTION
This assignment is regarding the job application for the role of Marketing Manager within a UK-
based organization named Toyota. It consists of the detailed description of the various concepts
involved in the marketing and its essential roles which are included in an organization. It
describes how marketing interrelates with different activities inside the business. Marketing is a
standout amongst the most basic devices of the associations of present-day business.
Marketing engages with the requests of the shoppers, giving the best quality, showcase
procedures, and so forth. This assignment is based on a case study which describes a business
organization named Toyota which is Japanese transnational vehicle Maker Company with its
main office in Toyota, Aichi, Japan. It is fifth greatest association on the earth in terms of profit
and has approximately 364,445 employees worldwide (Ito, et al. 2016). This assignment
consists of three tasks. Task 1 includes a detailed study of various key parts and duties which
are involved in the marketing. Task 2 compares the ways by which associations utilize
components of the marketing mix (7Ps) to accomplish general business targets. Task 3 includes
the strategy of developing and analysing a basic marketing plan of Toyota Motor Corporation.
2

TASK 1
P1, M1
EXPLAIN MARKETING FUNCTION ROLES AND RESPONSIBILITIES IN TOYOTA
Toyota is one of the largest producer and seller of the automotive and electrifying vehicles. It is
generally used one of the worldwide benchmarks as far as quality and changes are considered.
Toyota has made and balanced up their trade name by consistently improving their products in
which issues were reported by their clients. Promoting procedures were built up by the
organization that depends upon the experience of the customers and type of the products with
a particular ultimate objective to upgrade its features.
Marketing function can be defined as a role that helps an organization to analyse and find
various successful and highly potential products in the market and then make them
differentiate from various similar features products in the market (Gnizy, et al. 2014). Inside a
larger business marketing function involves various features like performing research of the
market, creating different marketing plans; look after the product and the market development
along with the market penetration. Moreover strategically advertising, sales distribution,
pricing, customer service after the sales and healthy public relations should be taken care by
the marketing department. In Toyota, the leaders and managers of the organization deal with
all the promoting capabilities and works towards the satisfaction of all the organization's goal.
The fundamental thought process of Toyota is to serve results of ultimate quality and give best
services to the clients' satisfaction.
The role of marketing function really depicts what services and products are contributing and
what outcomes are we getting keeping in mind the end goal to make functional methodology.
They really depend upon Quality, Dependability, Cost, Price, Customers fulfilment and Time. To
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guarantee the procedures of all these above factors, the administration takes choices about the
essentials of administration alternatives.
The important marketing functions related to the functions of the organization are as below:
 Understanding the needs of the customer-
In order to understand the needs of the clients, it’s essential to get in contact with them
and listen out to their requirements with the help of which an organization can
effectively make a make a marketing strategy (Kotler, et al. 2015). This is the
responsibility of the marketing team to procedure the requisite methods in order to
receive the feedback from the clients:
Channels inside the company: Conduct various surveys or store the data of the sales
department of the company and client support which might be useful for improving or
changing the strategies of marketing in the near future.
Channels outside the company: In order to convert the users of the products into
customers perform different hunts and form actions into different social networks which
helps in better understanding of the requirements of users.
 Track the latest trends and monitor the competition-
Just like the last point, it is necessary to know the position of the organization regarding
the current market scenario and the competitors (Lee, et al. 2015). Thus, from the
marketing point of view always analyse the competition of various industries to gain
knowledge about the best practices that they follow and the mistakes they do in order
to neglect them.
 Perform and transmit the brand ethics-
A brand is generally a portrayal of the emotions that the items, services and
organization shares appear (Brunk, et al. 2016). The marketing team is responsible for
the preparation of different strategies which best describes their brand values.
 Innovation-
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The company needs to amaze their customers daily with new offers and plans and the
customers are more ambitious about this. The marketing team should continuously
work on the different promotion techniques, sustaining the customers, introducing new
programs and modify their communication and behaviour.
 Proper communication within the entire company-
An organization is a group of employees which works together to achieve the same goal:
to fulfil its goal and enlarge the benefits while keeping in mind the organization morals.
Thus, the supervisors of the Toyota group make different arrangements and procedures
in order to improve marketing of their business (Alefari, et al. 2017). These strategies of
the organization are communicated by the managers to the various leaders of the
organization which is then implemented by the employees of the company.
5

P2, M2
KEY ROLES AND RESPONSIBILITIES OF MARKETING AND ITS
INTERRELATIONSHIPS WITH THE VARIOUS OTHER FUNCTIONAL UNITS OF AN
ORGANIZATION
Functions of the marketing company which helps to distinguish and source successful items for
market and after that support in the advancements are termed as marketing functions. The
functions which involve research of the market, planning for the product, promoting the
business, sales and providing customer support are very important for the growth of the
organization (Rabie, et al. 2015). Different roles are played by these marketing functions in
order to grow organization’s business. There is a nearby connection between marketing
functions with other functional units in an association.
Organizational functions and other functional departments of a Toyota group interrelationship
can be described as the functions of the marketing is one of the important parts of an
organization and hence all other departments and marketing unit is interrelated with each
other (Folger, et al. 2017). Marketing functions need the support of various other functioning
departments of the organization to perform efficiently. Financial, HR and sales department
looks after the planning and implementation of the market plan. Suppose if marketing team of
Toyota wants to offer their customers a discount of 5% in the overall cost of the car then, first
of all, they have communicated and discussed this with the finance and the production
department of the company.
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Figure: 1. Marketing Functions
[Source: http://www.expertsmind.com/topic/marketing/marketing-functions-93258.aspx]
The marketing roles are the different body in the organization but they are attached to the
other departments in one or the other way. Increasing the overall revenue of the organization
is one of the key features of the marketing department which can be gained by the overall
involvement of all other functioning departments in the organization. An appropriate budget is
rendered by the finance team to the marketing department for the proper planning and
application of the plan provided by the marketing team. Production department of an
organization constantly communicates with the logistics team in order to satisfy the request
and supply of items and administrations. Various policies are created by the HR department
based on the latest trends in the market, sales and the targeted audience. Hence, all the
different functional departments of an organized group together for the success of marketing
plan for the company. One of the bridges between the customers and suppliers within the
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market is only the marketing. This process of marketing is beneficial for the customers and
suppliers as well. Marketing helps the company like Toyota to develop new products which
support a quality life for their consumers. The competitive pricing strategy of Toyota has
created a competitive business environment in the world. Product distribution system has been
developed by the organization which helps the customers for the easy access to the products
and services provided by the company. A high profit has been collected from the UK market by
the Toyota because of their highly demanded cars (Majid, et al. 2017). Finance is often related
to the expenditure or on the usage of different company resources for various operations.
Various valuable reports are providing the financial function on the financial performance and
positions of the various business plans. Toyota has met the largest requirements of UK which
have been ensured by the financial reports of Toyota.
Thus, the relationship of the various organisational functions with the marketing unit of an
organization has been covered in this section.
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TASK 2
P3, M3
COMPARISON OF THE WAYS IN WHICH TOYOTA AND BENTLEY MOTORS
APPLY MARKETING MIX TO THE MARKETING PLANNING TO DEMONSTRATE
HOW TO ACHIEVE THE BUSINESS OBJECTIVES
The term marketing mix is very common in the modern marketing and has been regarded as
one of the most crucial activities for any kind of industry. “7Ps of marketing” is usually the
marketing mix according to various contexts (Abdul-Hamid, et al. 2017). In order to meet the
customer needs various controllable factors and tools are blended together. In order to gain
the competitive advantages in the local and international market, every organization develops
new products and services. So, the process of the marketing mix is required to be carried out
successfully in order to predict the rate of success of the launching products or services in the
market.
Figure: 2. Marketing Mix
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[Source: https://www.pinterest.com/pin/209628557627545269]
In this section of the assignment, a detailed comparison of Toyota and Bentley Motors has been
done based on the 7P's of the marketing mix. The seven tools which are used in marketing mix
are the product, price, people, place, promotion, process and physical evidence. The
comparison of Toyota and Bentley are as stated below:
PRODUCT
Based upon the seven varieties of elements of marketing mix, product element is one the
essential element. Organizations like Toyota and Bentley majorly focuses on developing new
products based on their highly targeted audience in the market. Various products have been
injected by the Toyota organization into the global market. They have numerous vehicles like
Corolla, land Cruise, RAV4, Lexus and Avensis. A remarkable mark has been left on the global
motorway by the Toyota of which they are proud of. Toyota has produced such automotive that
can be easily coped up with the impending fuel upsurges (Toma, et al. 2017). On the result of
which Toyota has emerged as one of the biggest competitors in the car industry. Company
launch products to meet the customer’s expectations by accepting the innovations in the
industry. Consumers continue to enjoy new designs with time because of the Toyota products,
cars and their accessories are evolving fast in the market. Since being diverse and intangible the
success of Toyota has pegged on the notion.
On the other hand, Bentley has emerged as one of the top car brands in the world. Bentley is
very rich in its marketing mix as well as in the portfolio of their products. The assembling of the
models of the Bentley is usually done at a factory in Crewe barring Continental Flying Spurs
which are assembled at a factory in Germany. Some of the most popular models of Bentley
includes Bentley Turbo R, Bentley Speed Six, Bentley Arnage, The Azure, Bentley Brookland etc.
Some of the models from the above belong to the ‘heritage’ category. Oldest models which
have excellent handcrafting, coach-building and high-performance engine sets a benchmark for
every new model manufactured which are the heritage models produced by the company.
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PRICE
Prices have been set proportionally to the consumer’s income by the Toyota Company in the
various parts of the world. In order to not letting out the customers, Toyota has been
continuously producing cars for upper as well as middle-class people (Pheng, et al. 2018).
Moreover, the pricing of the products depends completely dependent on the demand and the
supply. The price that is determined by the Toyota is generally very friendly for the customers.
Price offer is determined by the experience the products give to their customers and ambience.
It has been a while since the company is maintaining the quality at its best. Since the quality of
the products is very high so customers sometimes consider paying a little more amount also.
Bentley cars are generally designed while keeping the rich society in mind. The production of
these cars is done by hand requiring high craftsmanship and high-quality material. The workers
possess high skills due to which they are also paid high. Since these cars are not produced in
mass, therefore, their rates are quite high. The starting price of a Bentley car is $189, 195.
PLACE
Toyota is being able to find the various segments of the market where the goods are highly
demanded. Asia, Africa, America and Europe are most successfully penetrated by the products
of the company.
On the other hand Crew factory in the UK is the place where a majority of Bentley cars are
manufactured. USA, Canada, Japan, UAE and Australia are the places from where the major
buyers of the cars belong. There are almost 12 car models which are present in the market out
of which 11 are Sedan and one of them is SUV.
PROMOTION
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Various enhanced promotional activities are launched by the Toyota. Environment-friendly
vehicles are manufactured by the company and have shown this commitment through the
advertisements. It has been revealed through the promotions that the green image of the
company is because of the increase in marketability. Local media like television, newspapers,
and radios are being used by the company for their promotions.
Various innovative approaches are used by the Bentley for the promotion of their cars. Some
camouflaged test cars were used by printing the official URL of Bentayga SUV on them for the
marketing purpose (Bobbitt, et al. 2016). Integrity and Exclusivity of the brand have been
maintained by the organization.
PEOPLE
The valuable workers that work for the attainment of all the goals and objectives of the
company are referred by the term people here. Very innovative and customer friendly workers
work in Toyota group (Tregear, et al. 2015). The management hierarchy of the organization is
made in such a way so that the employees can have a direct link with them to monitor how
they deal with the clients.
There are approximately 4000 employees working in Bentley Motors Limited. According to the
various researchers and surveys, it is necessary for an organization like Bentley to have right
people in their organization in order to enhance their business.
PROCESS
One of the important elements of service marketing mix is the process. The methods which are
generally used by a company to carry out their operations successfully are termed as the
process.
The efficiency of the Toyota has been increased by reducing the waste and production cost with
proper management. The process of lean production is used by the Bentley which helped them
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in enhancing the quality of their products. Toyota utilized the process of lean production at the
workplace while Bentley exploits just-in-time procedure.
PHYSICAL EVIDENCE
The physical evidence of the products of these cars is very important in the today’s world. All
the cars developed by the Toyota and Bentley are highly attractive and are available in various
colours, sizes and shapes (Anderson, et al. 2016).
Physical evidence is being used in the services to attract the right segment and the target and
also for the achievement of right positioning. Toyota has gained customer confidence and has
enhanced their tangible presence of service centres across the UK. On the other side, Bentley
produces and serves luxurious cars with greater comforts.
Thus, the above-stated points describe the comparison of the marketing mix in Toyota and
Bentley.
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TASK 3
P4, M4
EVALUATION AND COHERENT EVIDENCE OF BASIC MARKETING PLAN OF
TOYOTA
EXECUTIVE SUMMARY
An analysis on the mission and objective of the company along with the social, legal, political,
environmental, economic, technological factors has been done here in this section. Marketing
plan makes a huge impact on the global operations and planning of the company (Kotabe, et al.
2014). Marketing strategies of the company include SWOT analysis, PESTLE analysis,
segmentation, planning and along with this the budget involve in the marketing activities has
been also discussed in the following marketing plan.
COMPANY OVERVIEW
Toyota Motors was incorporated on 27 August 1937, for conducting business in the automotive
industry. Toyota organization designs manufacture assembles, sells passengers cars, minivans
and commercial vehicles. There are mainly two major manufacturing plants of the Toyota
organization in the UK with an investment of approximately £2.5 billion and 4000 employees
(Jindal, et al. 2015). The manufacturing plant for vehicles is located at Burnaston in Derbyshire
whereas the engine manufacturing plant is located at Deeside in North Wales. Toyota becomes
one of the major suppliers of trucks for the imperial army during World War 2.
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Figure 3: Toyota logo
[Source: https://mrkustom.com/shop/toyota-led-door-projector-logo-light/]
CURRENT MARKETING SITUATION ANALYSIS
Analysis of the marketing situation can be done with some of the tools like SWOT and PESTEL
analysis which helps in analysing the external and internal environment of a company. With the
help of these tools, a company can easily predict the present market position of the company
as well as the current market value of other competitive companies. Based on these
observations accompany can make better marketing plans in order to achieve the long-term
mission of the company.
SWOT ANALYSIS
The internal features of the business of Toyota are identified in this SWOT analysis. This analysis
is used to point the most meaningful opportunities, threats and company areas of
improvements that the organization should address using their strengths. SWOT analysis is
used for providing the insights of the various possible influences on the business of the
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company (Futagami, et al. 2017). Though the company remains very strong in the automobile
market the issues regarding the competition, structure of the organization and culture must be
addressed.
STRENGTHS
 A strong brand image across the world.
 The supply chain of the cars is global.
 Capabilities of rapid innovation which is
useful for long-term competitive
advantage.
WEAKNESSES
 The hierarchal structure of the Toyota is
not good enough which prevents
maximum flexibility.
 Due to the secrecy in the culture of the
company, the response times of the
merging problems is high.
 Due to the massive product recalls the
firm is weakened because it utilizes the
business capacity which might have been
used for distribution purpose.
OPPORTUNITIES
 An opportunity to increase the business
revenue of the Toyota group by the
penetration of these markets is provided
by the developing markets (Sisson, et al.
2015).
 There is a very high demand for fuel
efficient and electronic cars which
provides an opportunity to Toyota to
focus on new innovations.
THREATS
 One of the biggest threat that Toyota
faces is the competition of low-cost
vehicles produced by Korea, Chinese and
Indian manufacturers that have been
increasing the presence continuously in
the US markets.
 Another threat that the Toyota faces is
the competition of innovative cars of GM,
Honda and Ford.
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 The interest rate with the advanced
electric vehicles is also growing.
 Japanese Yen is weaker as compared to
US Dollar which tends to the higher
competitiveness of products and the
goods exported from Japan to the US.
 Sustainable practices in the
manufacturing are being focused on the
customers.
PESTLE ANALYSIS
The overall impact of the external environment on the given company is being provided with
the help of PESTLE framework. PESTLE Framework includes complete details about the social,
economic, political, social, technical, legal and ecological factors of an organization which is
using the macro analysis of a company.
POLITICAL
Some of the political aspects of the PESTLE framework with which the company is dealing are
policies of training, funding grants, wars and conflicts, political trends and leadership.These
political issues affect the policies of the company very much. Political interference by the
government in a company like Toyota which is operating in various nations and with such a
variety of products is very necessary. A big impact comes on the company due to the different
policies of the government and bank earnings which further affects the microenvironment. Due
to the unhealthy relations between India and Pakistan Toyota avoid relocation of employees
from both the countries.
ECONOMICAL
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All the external economic factors, as well as their favourable and unfavourable impact on the
company, are taken into consideration inside the economical PESTEL environment. It includes
various economic conditions and latest trends in their home country, economic trends in the
overseas, rules of the taxation, trade cycle and the market, customers disposable income,
exchange rates, inflation rates etc. Due to the improper structure of their automotive Toyota is
facing rising loss which they need to recall in large number resulted in big losses since the year
2007.
SOCIAL
With the changing lifestyle of the consumers, their preferences are also changing. These day’s
people are preferring cars with higher safety and which produced in a sustainable environment.
In the modern cars features like airbags, fire control and emergency brake systems are being
installed. Toyota believes in employing the people of the same country because they
understand the cultural differences in every country which are reflected in their work so that
it's easy for their employees to easily cope up with the working culture.
TECHNOLOGICAL
Many technological changes are required in the adverting as well as the marketing activities
along with the improvements in the fuel efficiency, safety arrangements and better
performance. The technical investments made by the Toyota are high and pioneer. Toyota is
being continuously known for the innovation initiatives, replacement mechanism, research
funding and other initiatives (Tobushi, et al. 2015). The large investments that organization
makes have increased the risk and uncertainties for them. Various training is always conducted
by the Toyota to continuously enhance the technical knowledge of the employees.
ECOLOGICAL
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Ecological factors of PESTEL analysis include the environmental regulations and the customer
values. Environmental factors have resulted in the big impact on the Toyota since customer
values and regulations decide the fate of their business. To minimize the carbon footprints and
improve the quality of technology Toyota spends approximate $1.1 billion per hour. An
initiative was started by them for employees to conserve the maximum energy and reduce the
waste. This leads to establish a culture where every employee is conscious and participate in
the energy saving.
LEGAL
Current legislation in the home market, future legislation, regulatory body and processes,
employment laws are being included in the legal framework. Toyota has emphasised the
whistleblower policy and has drafted a document which consists of the legal rights of the
employees.
MARKETING STRATEGY ELEMENTS OF TOYOTA
"Right Car in the Right Place" and also for the right person is the philosophy that the Toyota's
segment and target market is based upon. Psychographic, as well as Demographic
segmentation, is being used by the Toyota for targeting the market. Almost all the countries of
the world are being segmented by them. With the help of which Toyota analysed it’s majorly
focused markets like US, Canada, Australia, Indonesia etc.
MARKET SEGMENTATION
“Care” of the users is the motto that the marketing strategy, market segmentation, target
market and marketing positioning is based upon. This can also be seen in the various attributes
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of the products and the wide variety of offers. Toyota is majorly focusing on these following
two segments:
 Demographic Segmentation
Upper Middle High-income families are being targeted in this segment. Some of the cars
in this segment are Cruiser, Parado and Camry.
 Psychographic Segmentation
Toyota has targeted the higher class high-income people with a sporty attitude in this
segment. Toyota Altis Sports model and Toyota Fortuner falls under this category.
MARKETING PLANNING
Three basic rudiments have been adopted by the Toyota to develop effective market planning
which is Green, Safety and low operating cost. A heavy amount is invested by the Toyota on the
safety of the cars. Toyota has responded by investing in hybrid cars, the Prius. Based on these
three factors Toyota has become successful in the garnering the market opportunity. Overall
there seems to be more opportunity for the Toyota than the threats.
BUDGET
In order to help an organization in the tracking of the cash in hand, requirements of the
working capital and profit margins it is necessary to draft a budget plan. With the help of a
proper budget plan, the budget required for a particular activity can easily be calculated and
tasks can also be prioritized which needs immediate capital. The annual budget created by
Toyota helps them to analyse their performance and the areas of improvement.
ACTIVITIES COST (£)
MARKET ANALYSIS £35000
PLAN DEVELOPMENT £32000
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HRM £30000
TRAINING AND DEVELOPMENT £15000
TECHNICAL UPGRADATION COST £21000
DIGITAL MARKETING COST £17000
PLAN IMPLEMENTATION COST £25000
TOTAL COST £175000
CONTROL
Once the planning and the marketing are being done it is very important to analyse and
monitor the results, which helps the company to effectively respond to the conditions of the
market. This analysis gives an important view on the present performance of the company with
respect to the competitive companies. Decisions regarding sales increase can be taken with the
help of overall profit ratio figures.
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CONCLUSION
Thus, marketing planning and strategy help an organization to analyse their current market
position as well as the targeted market for the promotion of their business. Toyota marketing
plan has been discussed in this assignment which is one of the leading manufacturers of cars.
Internal, as well as the external strengths of the organization, has been analysed with the help
of SWOT analysis. PESTEL analysis is also being done consisting of the various factors like social,
political, legal and environmental. Moreover, the marketing mix of the two companies Toyota
and Bentley has described based on their markets.
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