Project Planning of Toyota Automobiles: Branding and Consumer Perception
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This project plan explores the branding and consumer perception of Toyota Automobiles. It identifies the goals and objectives of the project, the problems and issues faced by the organization, and the amended project plan involving marketing. The plan also includes a timeline and recommendations for approval.
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Running head: BRANDING AND CONSUMER PERCEPTION Branding and consumer perception Name of the student Name of the university Author Note:
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2 BRANDING AND CONSUMER PERCEPTION Table of Contents Project Planning of Toyota Automobiles........................................................................................4 Background..................................................................................................................................4 Business Goals and Change.........................................................................................................4 Project Goals................................................................................................................................5 Scope............................................................................................................................................5 Purpose of Plan............................................................................................................................6 Problems or Issues.......................................................................................................................6 Project Plan Amendment.................................................................................................................7 Detailed Analysis of the mentioned Issues..................................................................................7 The amended projected plan:.......................................................................................................8 Advantages of the amendment- involvement of marketing to the project...................................9 Strengthening of supply chains of Toyota:..................................................................................9 Attracting dealers and distributors:..............................................................................................9 Attracting end customers:..........................................................................................................10 Brand image strengthening:.......................................................................................................10 First Progress Report.....................................................................................................................11 Recommendation.......................................................................................................................11 Approvals...................................................................................................................................11
3 BRANDING AND CONSUMER PERCEPTION Timeline.....................................................................................................................................12 Timeline Table...........................................................................................................................12 Second progress report:.................................................................................................................12 Gantt chart.................................................................................................................................14 References:....................................................................................................................................15
4 BRANDING AND CONSUMER PERCEPTION Project Planning of Toyota Automobiles Background Toyota Motors is an organization that mainly engages itself in the manufacturing of large scale automobiles from the different plants of the company located all around the world. The main business operations of the company are therefore largely the manufacturing, assembling and delivering the automotive products to the customers of the business. The business of the company is spread in mostly a large part of the globe and therefore enjoys a healthy brand name of its own. The company was the first to build the Toyota Production System and also implement the lean manu8facturing system in the organization. The 7 different principles that were implemented in the production system of the business was one of the main reasons that led to the development of the brand performance of the organization and also enhanced the customer perception of the business. Toyota Motor Company has the reputation of topping the list of the most preferred consumer car for a number of times in a line as because it uses superior technology and presents a superior image to the customers to maintain a proper reputation. For example apart from the other companies the management of Toyota ensures special safety features in all of its cars which helps it to become the very best in the business and helps to gain a competitive advantage over its rivals in different markets. Business Goals and Change Toyota announced a number of major goals that are to be achieved over a period of 35 years to address the key global environmental issues like that of climate change, water shortages, resource depletion and degradation of biodiversity. The environmental planning of the company has been named Toyota Environmental Challenge 2050 and it aims to reduce the negative impact
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5 BRANDING AND CONSUMER PERCEPTION of manufacturing and driving vehicles as much as possible. The company is dedicated to the development of the next generation new vehicles and aims to reduce carbon emissions by 90 percent within the year 2050. The planning of the management of the company is also to diversify and increase the options of sources of fuels and try out new variations like ethanol, methanol, electric, solar power and many other such fuels that may be the needs of the future. Some of the main aims of the new project undertaken by the company to change the brand perception of the customers will be to manufacture the best cars with the implementation of the latest technologies and also to manufacture the cars using the best machineries and improved technologies that are suitable for the change in the organization process. Apart from this the company also has plans to enrich the value of the communities by means of global rollout of end life vehicle treatment and use of different kinds of recycling technologies. Project Goals The goals of the company are mainly to undertake a large-scale transformation process that will help in the achievement of the business to be a greener company than the present state. Thetransformationwillbasicallyinvolvetheadaptionofdifferentgreenerandcleaner technologies that can help the organization to gradually reduce the carbon emissions and adapt to the use of the greener and cleaner technologies. The goals of the project are surely one of the best in the markets and aims to bring a better and sustainable automobile future for the organization. Scope The project will explore the planning of a large scale transformation process involving the increase of brand perception of Toyota among the customers of the company and also among
6 BRANDING AND CONSUMER PERCEPTION the potential customers of the company. The scope of the following event and the perception of the brand itself is a large thing to address. This makes the scope of the following project plan big in nature. The planning can also serve as the ideal resource for any kind of future planning by other companies. Purpose of Plan The purpose of the following plan is to identify and assess the branding and consumer perception of the different automobiles that are generally produced by Toyota Automobiles of Japan. The plan will serve as an agreement between the different parties namely the sponsor of the project, steering committee of the project, project manager of the team, the team itself and the other people who are involved in the following project. The purpose of the project helps to determine the goals and objectives of the following project easily and effectively. The Project Plan defines the following items; a.The purpose of the project b.The scope and expectations of the project c.The Responsibilities and the roles of the people involved in the project d.The goals and objectives of the project e.The budget of the project f.The timeline of the following project Problems or Issues There are different problems or issues that can be addressed by the organizations accordingly. The problem with the maintenance of the quality and the problems with the preferences of the customers can be challenging for the management of the company to address
7 BRANDING AND CONSUMER PERCEPTION accordingly. The change in the preferences of the customers every now and then and the absence of any strong strategies to convert into green technology can create different kinds of problems to the organization. Project Plan Amendment Detailed Analysis of the mentioned Issues The maintenance of quality is a major issue for the company. Toyota always provides special emphasis on the maintenance of quality. However the management has failed to address the issues of the emissions while ensuring the maintenance of lean manufacturing process for the organization. The regular changes in the innovations and the change in the technological advances, there is a constant change in the processes of the organization. Therefore the organization has to ensure the use of the latest technologies to make sure that they meet up the demand of the customers in brand perception among the consumers. The current project of Toyota aims to manufacture more sustainable cars which would enhance its brand image. The project would aim to manufacture cars which are more fuel efficient and cause less pollution. The leading Japanese automobile manufacturer in one of its reports have already declared that it is eying to turn its every model into an electric or hybrid model in the coming 7 years. The company set to achieve a target sales of 5.5 million cars by 2030 which would include hybrid and electric cars. The company has also declared that it has also entered into partnership with the global electronics giant Panasonic to manufacture more superior quality and fuel efficient batteries for its vehicles (cnbc.com 2018). All the three goals are aimed to establish the brand Toyota as a more sustainable brand. The company is also aiming to upgrade its lean manufacturing technology to make its manufacturing process more fuel
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8 BRANDING AND CONSUMER PERCEPTION efficient and sustainable. The company also aims to recycle its used car parts to manufacture more automobile to reduce wastage and the resultant pollution. However, it can be pointed out that this manufacturing of hybrid vehicles would require immense investment from the side of Toyota in the initial phase (Wesseling et al. 2015). This means that Toyota right from the initial phase of the launch of its hybrid and electric models need to earn sufficient revenue to be able to meet the recurring expenses of continuous innovation which it has to incur. Moreover, the second aim already points out to the target of the company to achieve a sales figure of 5.5 million cars globally. This means that the automobile company need to market its sustainable and hybrid products in the global market to be achieve to acquire an immense customer base to sell its highly expensive electric and hybrid car models.Thus, the amendment which the automobile manufacturer needs to bring about in its present hybrid and electrical car manufacturing project would be involvement of the marketing involvement in the project. The amended projected plan: The amended project would be a continuation of its previous project and would take into account the marketing component which the previous project lacked. The following are the activities of steps of the amended project plan: ActivityParticularsTime(months ) 1Marketing of electric and hybrid cars10 2Receiving quotes from suppliers and R&D firms5 3 Presenting quotes before apex management and project management committee2 4Finalizing of suppliers and R&D firms3 5Toyota enters into procurement contracts with suppliers2 6Toyota enters into open innovation contracts R&D firms2 7Integration with the main project2 8Marketing department Receives quotes from distributors6 9Presenting of quotes before apex managers2
9 BRANDING AND CONSUMER PERCEPTION 10 Finalizes distributors and intimates them about the sales prices of electric and hybrid car models6 11Takes advance payments and orders12 Advantages of the amendment- involvement of marketing to the project Involvement of the marketing departments would have several advantages to the project and would render it with greater level of success. Strengthening of supply chains of Toyota: The first advantage which marketing would bring to the project would be strengthening of its supply chain both upstream and downstream. Hsu, Tan and MohamadZailani (2016) mention that lean manufacturing method which leading global automobile giants like Toyota employ requires very strong supply chains. Marketing of the electric and hybrid cars in the market would create awareness among the suppliers of car parts. This would enable the company to attract a large number of firms which supply electric and hybrid parts to automobile manufacturers. Secondly, the research and development firms which work in hybrid automobile engineering would be aware about the hybrid product strategy of Toyota. Thus, it would enable Toyota to attract more research firms to collaborate with it. Toyota would be able to enter into open innovation with these R&D firms and manufacture superior quality hybrid models. This would automatically make its sustainability and manufacturing project more viable. Attracting dealers and distributors: Marketing of electric and hybrid models would attract dealers and distributors of automobile. While achievement of the first advantage would strengthen the supply chains of Toyota upstream, the achievement of the second advantage would strengthen the supply chains downstream. Marketing of hybrid and electric cars would enable Toyota to create awareness
10 BRANDING AND CONSUMER PERCEPTION among the dealers and distributors of automobile, especially the ones dealing with hybrid automobiles (Grant 2016). This would enable Toyota to create a base of distributors and dealers which would place advance orders. This would enable Toyota to create a more accurate sales budget and estimate the future sales which it can achieve in the initial phase of launch. The company can also make advance strategies to further push the sales in order to maximize the revenue generation by sale of hybrid and electric cars (Bohnsack, Pinkse and Kolk 2014). Attracting end customers: Toyota would be able to create awareness about its future hybrid and electrical cars by using an aggressive marketing strategy. This creation of awareness among end customers would create demand in the market for the Toyota hybrid cars. Some of the end customers would place orders with the Toyota dealers and distributors to buy electric and hybrid cars. Thus, it can be inferred from the discussion that marketing as an amended part of the project would enable Toyota to create demand in the market and secure high sales volume. This it can inferred that that marketing would render the hybrid and electric cars manufacturing project which Toyota has undertaken more financial viability (Ottman 2017). Brand image strengthening: Marketing would enable Toyota to strengthen its brand image which would in turn allow it to attract more consumers. The Japanese multinational company has already been fined for an immense amount of $ 500000 and has incurred a settlement cost of $ 34 million for violating pollution limits in the US (epa.gov 2018). It can be pointed that these fines have hit the revenue of the company and damaged its image. Marketing of electric and hybrid cars would enable to repair the damage its brand value has suffered due to violation of environmental laws in the US, which is one its important markets.
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11 BRANDING AND CONSUMER PERCEPTION Timeline Task NameDurationStartFinish Project Green Toyota85 daysTue 9/18/18 Mon 1/14/19 Selection of the Project 10 daysTue 9/18/18 Mon 10/1/18 Meeting with the Shareholders 1 dayTue 10/2/18 Tue 10/2/18 Meeting with the top level Mangement 1 dayWed 10/3/18 Wed 10/3/18 Joint meeting involving both the parties 4 daysThu 10/4/18 Tue 10/9/18 Decision regarding the Plan 2 daysWed 10/10/18 Thu 10/11/18 Budget of the plan10 daysFri 10/12/18 Thu 10/25/18 Start of the implementation of the plan 1 dayFri 10/26/18 Fri 10/26/18 Implementation of the new technology 35 daysMon 10/29/18 Fri 12/14/18
12 BRANDING AND CONSUMER PERCEPTION Approval of the new technology 20 daysMon 12/17/18 Fri 1/11/19 End of the Project1 dayMon 1/14/19 Mon 1/14/19 Timeline Table Source: (As created by the Author) Gantt chart Source: (As created by the Author) IDTask Mode Task NameDurationStartFinishPredecessors 0Project Green Toyota85 daysTue 9/18/18Mon 1/14/19 1Selection of the Project 10 daysTue 9/18/18 Mon 10/1/18 2Meeting with the Shareholders 1 dayTue 10/2/18 Tue 10/2/18 1 3Meeting with the top level Mangement 1 dayWed 10/3/18 Wed 10/3/18 1,2 4Joint meeting involving both the parties 4 daysThu 10/4/18 Tue 10/9/18 3 5Decision regarding the Plan 2 daysWed 10/10/18 Thu 10/11/18 4 6Budget of the plan10 daysFri 10/12/18Thu 10/25/185 7Start of the implementation of the plan 1 dayFri 10/26/18 Fri 10/26/18 4,5,6 8Implementation of the new technology 35 daysMon 10/29/18 Fri 12/14/18 7 9Approval of the new technology 20 daysMon 12/17/18 Fri 1/11/198 10End of the Project1 dayMon 1/14/19Mon 1/14/199 TWTFSSMTWTFSSMTWTFSSMTWTFSSMTWTFSSMTWTFSSMTWTFSSMTWTFSSMTWTFSSMTWTFSSMTWTFSSMTWTFSSMTWTFSSMTWTFSSMTWTFSSMTWTFSSMTWTFSSMT Sep 16, '18Sep 23, '18Sep 30, '18Oct 7, '18Oct 14, '18Oct 21, '18Oct 28, '18Nov 4, '18Nov 11, '18Nov 18, '18Nov 25, '18Dec 2, '18Dec 9, '18Dec 16, '18Dec 23, '18Dec 30, '18Jan 6, '19Jan 13, '19
13 BRANDING AND CONSUMER PERCEPTION
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14 BRANDING AND CONSUMER PERCEPTION References: Batra,R., Lenk, P. and Wedel,M., 2010. Brand extensionstrategyplanning:Empirical estimationofbrand–categorypersonalityfitandatypicality.Journalofmarketing research,47(2), pp.335-347. Bohnsack, R., Pinkse, J. and Kolk, A., 2014. Business models for sustainable technologies: Exploring business model evolution in the case of electric vehicles.Research Policy,43(2), pp.284-300. CNBC. 2018.cnbc.com. [online] Available at: https://www.cnbc.com/2017/12/18/toyota-says- all-its-cars-will-have-an-electric-or-hybrid-option-by-2025.html [Accessed 18 Sep. 2018]. deChernatony, L. and Cottam, S., 2009. Interacting contributions of different departments to brand success.Journal of Business Research,62(3), pp.297-304. De Mozota, B.B., 2003.Design management: using design to build brand value and corporate innovation. Skyhorse Publishing Inc.. Grant, R.M., 2016.Contemporary strategy analysis: Text and cases edition. John Wiley & Sons. Hsu, C.C., Tan, K.C. and MohamadZailani, S.H., 2016. Strategic orientations, sustainable supply chaininitiatives,andreverselogistics:Empiricalevidencefromanemerging market.International Journal of Operations & Production Management,36(1), pp.86-110. Malhotra, N.K., 2007. Review of marketing research. InReview of Marketing Research(pp. v- v). Emerald Group Publishing Limited.
15 BRANDING AND CONSUMER PERCEPTION Ottman, J., 2017.The new rules of green marketing: Strategies, tools, and inspiration for sustainable branding. Routledge. Pappu, R., Quester, P.G. and Cooksey, R.W., 2005. Consumer-based brand equity: improving the measurement–empirical evidence.Journal of Product & Brand Management,14(3), pp.143- 154. US EPA. 2018.epa.gov. [online] Available at: https://www.epa.gov/enforcement/toyota-motor- corporation-settlement [Accessed 18 Sep. 2018]. Wesseling, J.H., Niesten, E.M.M.I., Faber, J. and Hekkert, M.P., 2015. Business strategies of incumbents in the market for electric vehicles: Opportunities and incentives for sustainable innovation.Business Strategy and the Environment,24(6), pp.518-531.