Marketing Plan of Toyota - Doc
Added on 2021-02-20
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MARKET ESSENTIAL
Table of ContentsINTRODUCTION...........................................................................................................................3LO1..................................................................................................................................................3P1. Key roles and responsibilities of marketing function...........................................................3P2. The roles of marketing relate to other function department of organization........................5LO2..................................................................................................................................................6P3 Comparison between the marketing mix of Toyota and Volkswagen..................................6LO 3.................................................................................................................................................9Marketing Plan............................................................................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONMarketing can be determined as a thinking about the business in terms to consumer needsand their satisfaction (Chatterjee and Joshi, 2018). It can be described as a set of processes forcreating, communicating, delivering and exchanging offerings that have value for the customers,clients, parents and the society at a large. Present report is based on Toyota. This study includes the key roles and responsibilitiesregarding marketing functions with their relation to the wider context of the organization. Furtherthis report includes the ways that are being used by an organization for achieving its overallobjectives with the help of 7 P's of marketing mix. Lastly, this report comprises a marketing planfor an organization.LO1P1. Key roles and responsibilities of marketing functionMarketing is the process of promotions and selling of the product, It includes after salesservice, market research, advertising and many more ( Jain and et.al., 2019). Marketing is alsodone to identify the need of the customers and communicate with them.Importance of MarketingMarketing plays a key role in maintaining relationship between the company and theorganization. Marketing is done by the company to increase sales as well as the brand awarenessof the organization (Chatterjee and Joshi, 2018). Each and every business sector need to domarketing to increase the sales of their business. It also helps in retaining and increasing thenumber of customers.Functions of MarketingThe main function of marketing are market analyzing, segmentation of market, product pricing,customer care services.Roles of marketing functionsMarketing Analyzing: It is the basic and the most important function of marketing. Inthis the marketer of the company analysis the marketing in proper and detail manner toidentify the need of the customers, trends in the market and preference of the consumer.In this the information is collected about the market and customers. Marketing analysis isvery important for Jaguar as it helps them to identify preference of course and programs
by the students. The role of these marketing function is it helps in determining the needof new offering in the market.Segmentation of Market: The process of dividing the market into different sections onthe basis of the age of the customer, gender, income level, preference, need and manymore is known as market segmentation (Mabkhot, Salleh and Shaari, 2016). One of themajor role of Segmentation of marketing is it helps the company to minimize thepossibility of losses. Toyota market segmentation is very important, as it helps theautomobile company to target the customers on the bases of their income group andpreferences (Jain and et.al., 2019).Product Pricing: When the company set monetary value of product for the purpose ofselling it is called product pricing. It is one of the most vital role of marketing. Theultimate goal of every business is to increase their sales as well as profitability. Demandand supply of the product plays and important role in pricing of product. If the demand ishigh the price than the products will be expensive and if supply is high then the price ofthe product will be cheaper (Maheshwari, Seth and Gupta, 2016). The pricing of thecourse and programs in Toyota is done on the bases on the demand in the market, price ofcompetitive product in the market. The major role of pricing is it helps in targeting aswell as attracting customers.Distribution: The process of transporting the products from the producer to customer isknown as Distribution. Distribution channel includes various channels like wholesalers,retailer, suppliers and many more. Selection of the best distribution channel is the role ofSenior marketing managers of the company. Toyota is an automobile company thedistribution of their cars are done through showrooms. The role of distribution is it createa link between company and the potential customers.Customers Care services: The major role of the customers care services is to increasethe satisfaction level of the customers as well as maintain the loyalty of the consumer. Itis very important for the success of the company to gain loyalty of the customers.Toyota's customers care services are open 24×7 to assist their customers and providebetter experience (Ng, Hamid and Yusof, 2017). The customer care department of thecompany immediately starts working on the issue and try to resolve it as soon possible.
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