Principles and Practice of Marketing

PRINCIPLES AND PRACTICES OF MARKETING

Table of Contents
Introduction................................................................................................................................1
Company background................................................................................................................1
Mission Statement and Corporate Objectives of the Company.................................................1
Macro and Task Environment for Toyota..................................................................................2
SWOT analysis of Toyota..........................................................................................................5
Marketing Assumptions for Toyota...........................................................................................8
Conclusion..................................................................................................................................8
REFERENCES.........................................................................................................................10

Introduction
The below is the marketing plan of introducing Toyota Prius Hybrid car in the UK. An
appropriate marketing mix of company is being developed here by analysing its corporate
mission and objectives. Moreover, for the successful launch of new product and design
marketing strategies, it is very important to evaluate macro and micro environment factors
that would affect the respective product in the selected region. In this regards, the content
here is including PESTLE, Porters Five Force and SWOT analysis of the organization. Based
on this, at the end marketing assumptions are given for the successful launch of Prius in UK.
Company background
The Toyota is a leader in manufacturing, assembling and distribution of car. A very
effective style of management that is used by company has been the main reason behind its
excellent performance in the market. There are several other salient features that supported
the organization in attaining market dominance (Allen, 2002). It is because of fact that
Toyota has also leadership in exportation of car. In fact, the differentiation tactic of firm has
allowed it to enjoy monopolistic presence specifically in the nation’s development. On the
other side, the current market structure for the company is oligopoly, due to some other main
players, like GM who are strong rivals. Toyota makes all necessary attempts to analyse
activities of their competitors and ensure that it reacts in a manner that will definitely
guarantee the market leadership of company (Buss, 2014).
Mission Statement and Corporate Objectives of the Company
Toyota attempts to develop a more prosperous society by automotive business. Hence,
the organization is intended to attained long term growth and stability in future, which is
synchronize with range of factors like local communities served, significant environment,
stakeholders internal environment and global economy. The core mission of company is to
deliver excellent automotive services and products to consumers and enrich the community,
environment and partner (Cornelissen, 2014). The particular statement of company reflect its
strategic objectives and relates to its strategic activities in technology, such as:
 Provide infrastructure and energy optimization to local societies;
 Provide world-class safety to safeguard customers lives;
 Put more priority on safety as well as promote development of its product through the
ultimate objective of “totally eliminating causalities of traffic”;
 Supply cars that inspire and even stimulate plus earn customers smiles;
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 With the real mutual trust with partners, add to the new technology development and
improved expertise;
 Add to the local community’s economic development with the operations of R&D
effectively functioning in all region (Ellsworth, 2002).
The mission statement of Toyota concentrates on commodities. It always considers the
customers’ expectations and preferences on the basis of market trends or research. Within the
strategic activities comprised in its mission, the organization puts emphasis on products
quality with reference to criteria like customer satisfaction and safety. The following
corporate objectives of company are directed towards its mission statement:
To increase satisfaction of customers by offering money value and high quality service;
To maintain company’s market share in the industry;
To design an aggressive program of customer satisfaction from showroom to parts and to
workshop for fostering relationships of consumer;
To serve the nation and make society’s upliftment;
To make ethical approach towards fostering customers’ needs.
Additionally, the business strategy of company is to produce quality cars, remain
competitive plus increase technologies for green-energy cars. Also, the organization stresses
to improve individuals lives around the globe and promotes the corporate citizenship idea.
However, the main goal of company is to enhance fuel efficiency plus its vehicles designs.
Moreover, the organization make more appealing cars while cutting 30 percent cost by the
utilization of shared parts. It is all an effort of remaining ahead of strong competition from
organizations that are capturing market share in terms of fuel consumption and quality cars.
The business strategy of Toyota ties into its core mission that is to introduce same quality in
all of its cars throughout the globe (Glukhova, 2009).
Macro and Task Environment for Toyota
The environment for a company includes aspects that create impact on its technique.
One main section of external environment is macro environment that can effect on economic
growth where company does not have options related to tax policy. The information of what
have influenced manufacturing in past and what will influence in future shows clearly in the
macro environment analysis (GREENSPAN, 2015). The changes in the business macro
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