Marketing Strategy of Toyota
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Added on 2021-06-17
Marketing Strategy of Toyota
Added on 2021-06-17
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1MARKETING STRATEGYName:Department:School:Date:
2Executive summary The report chose one of the automobile industries. The report originates with a brief account about the corporation, its latest innovation, and the marketplace in which it is operating. The report narrows down on the company orientation towards the market. The drive of the study is also to search the marketing strategic of Toyota especially in the UK market. The secondary factsare used to acquire on the intuitions about the market share, growth rate, and profitability index. The paper also emphasise on the segmentation, targeting and positioning of its products in a verycompetitive UK automobile market. The investigation concludes with a comprehending and commendation of how Toyota’s market mix can attract a considerable market share and product image for its inventive technology in the UK. The report recommends the company to use different segmentation strategies so as to capture young generation in UK who love fancy car model and women who prefer the product with arrays of the colour.Keywords: customer, marketing mix, strategy, innovation
3Table of contents Executive summary.........................................................................................................................2Introduction......................................................................................................................................5Situational analysis..........................................................................................................................7SWOT analysis............................................................................................................................7Strengths...................................................................................................................................7Weaknesses..............................................................................................................................8Opportunities..........................................................................................................................10Threats:...................................................................................................................................11Pestle analysis............................................................................................................................12Political...................................................................................................................................12Economic................................................................................................................................12Social-cultural........................................................................................................................12Technology.............................................................................................................................13Environmental........................................................................................................................13Legal.......................................................................................................................................13Competitive advantage..................................................................................................................13Evaluation of the current marketing strategy.................................................................................15Market share, growth and profitability......................................................................................16Segmentation, targeting and positioning of UK market................................................................17
4Recommended objectives and goals..............................................................................................20Recommended marketing strategies..............................................................................................20Conclusion.....................................................................................................................................21Bibliography..................................................................................................................................23Appendix........................................................................................................................................27
5IntroductionNo policymaking need convincing that Toyota Company has become one of the largest firms because of the TPS. The unconventional trade system assists the Japanese automobile to makes the planet the best automobile at the low rate and to grow novel merchandise fast. Not only have the closet opponents such as Ford, Chrysler, Daimler, General Motors and Honda advanced TPS-like System, but also postal and hospital services have embraced its underlying tools, rules and conventions to become more efficient1. The Toyota corporation company was established in 1937 through the creativity of Kiichiro Toyoda2. Toyoda established the firm after attaining experience from his father’s firm. Its headquarters are located in Japan and its processes are extensive across the globe. The company specialises in the planning and building different merchandises. The company assembles cars with one of the following elements; hybrid engines and combustions. Additionally, the corporation produces spare parts. The typical mode of Toyota is Camry, Corolla and Land cruiser. Apart from the above brand, the company creates luxury Lexus and the Tundra automobile. By 2009, the company had 71,116 outlets in various sections across the globe3. According to the statista (2016), the company’s stake in the UK from 2014 to 2016 has 1Conway, A. Beijing Auto Trade Show - Toyota Unveil its new Concept. [online] Auto-Types.com. Available at:http://www.auto-types.com/autonews/beijing-auto-trade-show-toyota-unveil-its-new-concept-8598.html, (2015).2Toyota annual report. Reward with a smile by exceeding your expectations. [Accessed on 22 May 2018]. [Online]. Available at: www.toyota-global.com/investors/ir_library, (2011).
6been rotating around 2.73% and 4.17%4. Therefore, it shows that it has steadily controlled a considerable unit of the United Kingdom vehicles marketplace. In the 2015, the corporation was among the best selling cars5. UK automotive industry can be deliberated as a backbone of the UKeconomy and generally produced around the 50 billion euro yearly income, generating about 10 billion Euro in net value-added to the economy. The UK automotive sectors hires nearly 730,000 workers in manufacturing, retail and aftermarket sectors with approximately 154,000 personnel directed enrolled in manufacturing.3Seymour, R., Haddon, E. and Brownlee, S. Hot looks and Cool Connections with New Toyota Aygo Fire and Ice - UK Media Site. [online] Media.toyota.co.uk. Available at:http://media.toyota.co.uk/2012/02/hot-looks-and-cool-connections-with-new-toyota-aygo-fire-and-ice/, (2012).4Statista(2016). Toyota UK market share 2014-2016 | Statistic. Available at:https://www.statista.com/statistics/300465/toyota-car-market-share-in-the-united-kingdom/,(2016).5Autocar. The UK car market winners and losers of 2015 | Autocar. Accessed on 25 May 2018,Available at: https://www.autocar.co.uk/car-news/industry/uk-car-market-winners-and-losers-2015 (2016).
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