Marketing Management Strategies of Toyota

Running head: Marketing management

Marketing management
Table of Contents
Introduction.................................................................................................................................................3
Nature of marketing and marketing management in Toyota........................................................................4
STP (Segmentation, targeting and positioning) strategy of Toyota.............................................................4
Segmentation...........................................................................................................................................5
Target market..........................................................................................................................................5
Positioning strategy.................................................................................................................................6
Marketing mix for Toyota...........................................................................................................................7
Contemporary issues that might affect marketing........................................................................................9
Recommendations.....................................................................................................................................10
Conclusion.................................................................................................................................................11
References.................................................................................................................................................11

Marketing management
Introduction
In today’s era, Toyota Corporation is growing and maximizing its effectiveness and
outputs. This paper main aims to identify and analyze the unique and dynamic marketing
strategies to stay in the competitive market. Toyota is a biggest leader in automotive industry
who is offering innovative vehicles to the customers across the world. The problems and issues
that managers face are always a hot topic in the business of Toyota. The challenges faced by the
organization are also explained in the task briefly. The marketing mix strategy, segmentation,
positioning and targeting strategies also have been presented in the task. More detail of the task
has been elucidated below.
Toyota is a Japanese multinational automotive manufacturer which is incorporated in
1937 with its headquartered is situated in Aichi, Japan. The company’s structure comprised
approx 364,445 workers globally (Toyota, 2018). It is the sixth biggest company measured by
revenue in the world. The company is using its guiding rules and principles to manufacture
reliable sustainable development and vehicles of community by engaging and employing
innovative and high quality products and services (Takeuchi, 2008). It is noted that Toyota is one
for the customer satisfaction in the majority of European countries and has developed an
effective and excellent reputation and bran position across Europe for customer services and
reliability (Toyota, 2018).
In today’s modern world, the company is growing quickly in various countries across the
world. It is one of the biggest and leading companies to promote and improve the mass market
adoption of hybrid vehicles around the globe. It is also a biggest market leader in hydrogen fuel
cell vehicles. The main aim of the firm is to be a market leader in automotive industry. The
company is selling various types of vehicles such as Toyota innova, Toyota fortuner, Toyota
corolla Altis, Toyota Yaris, and Toyota platinum Etios. The company uses Just-in-time
production process to manufacture and sell its products in the marketplace (Monden, 2011).

Marketing management
Nature of marketing and marketing management in Toyota
It is stated that marketing management may be defined as a process of developing and
improving the strategies and planning for product or service, advertisement, sales and promotion
to reach the potential and effective target audience (Buckley & Horn, 2009). Marketing is a
significant and unique concept that is used by the organizations to examine and analyze the
requirements and needs of their key target audience and then make effective and dynamic
decisions to satisfy those needs and requirements in an effective way than the rivalries.
Marketing management plays a vital role in encouraging and improving the mission and business
of the company. Marketing department is managed and controlled by the company to promote
the automotive products in the international market. Various marketing strategies such as
marketing mix, STP strategy, pestle analysis, SWOT analysis and porter five forces analysis are
used by the company to increase and enhance the sale of automotive products globally.
Marketing department at Toyota conducts a survey and research to analyze and identify the
needs, preferences and choices of the consumers regards to automotive products (Drucker,
2012).
The main motive of the marketing manager is to maximize profitability and revenue for
the business by selling several vehicles to the consumers in the competitive market. The
marketing manager ensures the optimum and effective use of resources available within the
company. The Marketing department has to conduct various exchange functions and research
functions. This department works to attain desired marketing goals and objectives globally. The
marketing manager is responsible effective planning, organizing, directing and controlling the
marketing activities and actions. No company can survive and attain its long term mission and
vision without using dynamic and excellent marketing strategies. The marketing department
keeps an eye on the performance, effectiveness, plans and strategies of the competitors to stand
against the rivalries globally (Amasaka, 2007).
STP (Segmentation, targeting and positioning) strategy of Toyota
It is stated that STP strategy plays an empirical role in each and every company to gain
competitive benefits in the global market. The STP strategy for Toyota has been discussed
below.