Marketing Strategy and Plan for Toyota Automobile

Marketing Strategy and Plan
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Table of Contents
Introduction......................................................................................................................................3
Organizational Background.........................................................................................................3
Discussion........................................................................................................................................4
Evaluate the Application of Marketing strategies.......................................................................4
STP Analysis of Toyota...........................................................................................................4
4P Marketing Mix Strategies...................................................................................................5
Assess the Current Trends and Overall Market Environment.....................................................6
Internal Environment Analysis................................................................................................6
External Environment Analysis...............................................................................................8
Conclusion.....................................................................................................................................10
Appendix........................................................................................................................................11
References......................................................................................................................................13
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Introduction
In present days marketing is essential for every organisation to trigger the sales volume for
further growth. The companies are now focused on digital marketing to provide information with
a view to new product launch, the specification of existing products to grab the attention of huge
customers (Ottman, 2017). All the business organisations are using various promotional
strategies such as word of mouth promotion, social media promotion to improve the overall
financial position of the company. The company needs to research the whole market and also
needs to recognise own ability before implementation of marketing strategies (Tuten and
Solomon, 2017). Effective market research also helps management to gather data about the
competitive market. This particular study mainly focused on the marketing practices of the
Toyota Automobile. Identify the environment of Automobile industry also helps this
organisation in improving its products leads to increase customer satisfaction as well as sales
volume.
Organizational Background
Toyota is one of the largest automobile manufacturing companies all over the world. The
headquarter of this company is in Aichi, Japan and more than three lakh sixty-nine thousand
employees are currently working in this organisation. According to secondary data, it has been
identified that in the financial year 2018, revenue of this company is $261 billion and the net
income of the organisation is also high that means the current financial position is high enough to
expand the business in other emerging market. Current the senior management is focusing on
Hybrid electric cars due to the negative environmental impact of fueled vehicles (Toyota Motor
Corporation, 2018). This organisation also used various marketing strategies through social
media and digital media you improve the brand image more. The management of this
organisation takes a long-term decision based on market research. Identify the market
environment also provided this organization with huge competitive advantages in operating
market (Olhager and Feldmann, 2018). The senior management of Toyota needs to take further
marketing strategies according to fulfil the demand of customers, and that will help the
organisation to improve its sales volume further leads to enhance financial profitability.
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Discussion
Evaluate the Application of Marketing strategies
Marketing strategy is vital for all the business organisations to improve sales as well as increase
organisational financial position (Ottman, 2017). Advancement of digital media also enhanced
the overall marketing system so that company can use paid advertising, relationship marketing,
word of mouth marketing, internet marketing, and diversity marketing, transactional marketing
etc. to attract more customers toward the brand. Apart from that, use of 4P’s strategy, STP
analyses also helps the company to enhance the overall company position effectively (Refer to
Appendix-2).
STP Analysis of Toyota
Segmentation
This organisation also provides the right car in the right places. This company has segmented in
various countries of the world. This organisation also made various car models for different
customer segments such as based on income, lifestyle, and other requirements (Banerjee, 2017).
Effective design of the vehicles also attracts all customer segments. The use of behavioural
approach and identify the psychology of customers also helps this company to maintain a huge
number of loyal customers. Apart from that, this organisation is now focusing on the hybrid
electric card to fulfil the demand of customers that will create a less negative impact on the
environment.
Target
Based on Price, design and specification of cars it also targets the customers. Toyota also
manufactured some high-performance car models for the high-income people, and it also
produced economic class vehicles for the medium class people (Bitondo, 2017). Company
launches high performance vehicles in high economy markets of developed countries and also
launches the economy class vehicles for emerging countries. Not only personal cars or supercars
but this organisation also produced the passenger cars and trucks, and it supplies its passenger
vehicles in various public and private sectors of different countries.
Positioning
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