MKT501 Marketing Management

   

Added on  2020-02-24

18 Pages3769 Words56 Views
Running head: MARKETING MANAGEMENT Marketing ManagementName of the StudentName of the University Author’s Note
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1MARKETING MANAGEMENTTable of Contents Introduction:....................................................................................................................................21. Industry market of organization...................................................................................................21.1 Growth.......................................................................................................................................21.2 Profitability................................................................................................................................31.3 Macro environment....................................................................................................................31.3 Macro Environment (PESTLE Analysis)..................................................................................32. Major market segmentation of Toyota........................................................................................63. Involvement of the Primary Segment..........................................................................................84. Nature of the Competition...........................................................................................................94.2 Competitive Analysis...............................................................................................................115. Positioning Map of Toyota........................................................................................................12Conclusion.....................................................................................................................................13Reference List:...............................................................................................................................14
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2MARKETING MANAGEMENTQ. Consider the market for any organization you choose and evaluate the opportunitiesand threats that exist for ToyotaIntroduction: Providing good quality of products as well as services is one of the most significant waysof maintaining organizational sustainability. At the same time, it is also undeniable that businessexperts need to focus on business promotion for gaining recognition of their brands as well asservices. Toyota is one of the most prestigious multinational Japanese manufacturers occupyinga predominant place in the realm of automobile industry. In order to expand the entire process ofbusiness beyond going the regional market Toyota has decided to evaluate the opportunities andthreats that the business experts may have to face for expanding the entire process of business indifferent geographical boundaries (toyota.com, 2017). This specific study has provided in-depthoverview about the profitability and growth structure of Toyota along with evaluating the targetmarket segmentation. After evaluating the target market segmentation an effective competitiveanalysis has also been drawn for analyzing the marketing and development plan of Toyota. Figure 1: Logo of Toyota(Source: toyota.com, 2017)
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3MARKETING MANAGEMENT1. Industry market of organization1.1 Growth At the initial stage Toyota Motor Corporation has started their journey as an automobilemanufacturer established their business process in the market of Japan. After providing variety ofbrands as well as services this specific brand has drawn the attention of large number of peopleby expanding the entire process of business in different geographical boundaries. By 2014Toyota corporate structure has been constituted with 338875 employees(toyota.com, 2017).Sufficient workforce strength was effective for this brand in order to make a balance customersdemand and supply. Wilson and Gilligan (2012) emphasized that, around 10 million vehicles ismanufactured from the department of Toyota for delivering the brand. 1.2 Profitability As per the net revenue report of Toyota this particular company in 2016 has earned59,011,306.09$ which is high in comparison to previous year (toyota.com 2017). In addition thisspecific business brand has decided to invest sufficient amount of money for business promotion(Armstrong et al., 2012). People belonging to different geographical boundary would like toshow their interest in purchasing the products and services only when the brand draws theattention of customers. After making good promotional activities the business experts of Toyotahave received the response from international customers as well. People belonging to differentgeographical markets have showed their interest after viewing the brand in various social mediapages. As per the annual report of 2016, this specific brand in terms of revenue is the fifth largestautomobile brand globally(Reza Jalilvand & Samiei, 2012). However, the marketing executivesare currently interested in expand their entire process of business to other geographical
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