Marketing - Toyota Industries Corporation | Question and Answer

Running Head: MARKETING
MARKETING
Name of the Student
Name of the University
Author Note

MARKETING1
Table of Contents
Answer to Question 1.................................................................................................................2
Answer to Question 2.................................................................................................................3
Answer to Question 3.................................................................................................................5
Answer to Question 4.................................................................................................................7
References..................................................................................................................................9

MARKETING2
Answer to Question 1
Toyota Industries Corporation
Toyota Industries is a Japanese automotive machine maker company which is
considered as largest manufacturer in terms of revenues. The company is involved in
producing textile machineries, electronic devices, automobiles and handling equipments. The
corporation was founded in the year 1926 and was focused on selling the automobiles. The
company first produced a car named as “Model AA sedan”. To gain competitiveness, the
marketing department researched in the American automobile manufacturer to own technical
& economic competency. In 1957, Toyota Motor Sales were established in USA, which
released a new brand known as Toyopet sedan. This model was first marketed in the states of
United Nation. This was the initial step taken for new development of the business. But the
demand was not so high. But, in the year 1958, the company redesigned this model and it was
known as Toyota Corona. This model was successful in the market of United States
(Encyclopedia Britannica. 2020). Then the company expanded at a greater rate during the
1960s and 1970s and became as one of the largest market in the foreign market. It gained
reputation due to low cost, more efficient fuel and manufacturing more reliable vehicles in
the year 1968. Then Toyota Motors Company merged with Toyota Sales. Then later on it
partnered with General Motors Corporation and started their production in the United States.
The company had experienced growth in producing various innovations in luxurious brand.
At present the company is focused on maintaining the quality and meet the changing
needs of the customers. The company is focused mainly on three things product quality,
management quality and improving the marketing quality. Market quality is related to
excellent sales & service in addition to safety of the product. They are focused on
strengthening the brand and improving the corporate image by fulfilling all the attributes
(Dillon 2019). The marketing department works with production department to capture the

MARKETING3
product requirement according to the marketing needs (Aoki and Wilhelm 2017). The
company educates all their employees and promotes on development of human resources for
getting engage in the company and get involved in doing innovations of the product so that
the marketing team and the sales team can convince the customers to buy the product. This
also means that the business is continuously making innovations to attract the customers to
buy their product. It identifies the new markets on the basis of what customer wants to
modify in the existing product. The marketing department is promoting the business on a
global scale. The company has customer-oriented sales expansion in order to receive larger
numbers of order from the customer. They initiate demonstration event in order to welcome
new customers (Toyota-industries.com. 2020). They also have direct sales plan in their
marketing activities. This is mainly done within the local sales. They also make proposals for
logistics solutions which is very much important for attracting the customers towards the
product.
Answer to Question 2
a. Marketing Strategies
The 4Ps marketing mix of the strategy for interacting the target market.