University Marketing Strategy: Toyota Fortuner Malaysian Market Plan

This report presents a comprehensive market strategy and plan for the launch of the Toyota Fortuner in the Malaysian market. It begins with an introduction and background on Toyota and the Fortuner model, highlighting its positioning and competitive advantages. The report then delves into an industry analysis, including an industry lifecycle assessment and a macro-environmental analysis utilizing PESTLE factors. It also applies Porter's Five Forces and creates a radar map to understand the competitive landscape. A detailed market research strategy is outlined, covering research problems, marketing approaches, data collection, and analysis plans, along with expected outcomes. Furthermore, the report proposes specific marketing strategies for product, pricing, promotion, and distribution, along with the identification of competitive advantages and a marketing program. Finally, the report addresses implementation and result review, providing a complete strategic framework for the successful launch of the Toyota Fortuner in Malaysia. The report concludes with a list of references.

Running head: MARKET STRATEGY AND PLAN
MARKET STRATEGY AND PLAN
Name of the Student
Name of the University
Author Note

1MARKET STRATEGY AND PLAN
Table of Contents
Introduction................................................................................................................................4
Background................................................................................................................................4
Positioning..................................................................................................................................5
Reinforcing Positioning.........................................................................................................5
Industry Analysis.......................................................................................................................6
Industry Lifecycle..................................................................................................................6
Macro Environmental Analysis..................................................................................................6
PESTLE Analysis...................................................................................................................7
Porter’s 5 Forces 250.............................................................................................................9
Radar Map 100...........................................................................................................................9
Key Success Factor Analysis 200..............................................................................................9
Market Research Strategy 30...................................................................................................10
Research Problem 70............................................................................................................10
Marketing Approach to be Utilized 70.................................................................................10
Measures for Collection of Data 100...................................................................................10
Data Collection Plan 100.....................................................................................................10
Data Analysis Plan 100........................................................................................................10
Expected Outcomes 200...........................................................................................................10
Survey Form.............................................................................................................................10
Strategy Development 50.........................................................................................................10
Product Strategy 100............................................................................................................10
Pricing Strategy 100.............................................................................................................10
Promotion Strategy 100........................................................................................................11
Distribution Strategy 100.....................................................................................................11
Competitive Advantage 200.................................................................................................11
Marketing Program 200...........................................................................................................11
Implementation and Result Review 300..................................................................................11
References................................................................................................................................12

2MARKET STRATEGY AND PLAN
Introduction
Developing a strategy is one of the major task for the organization to incorporate the
marketing plans that will be liable for the growth of the organization (Stathakopoulos et al.
2018). The purpose of the study is to incorporate the key strategies that will be projecting the
various activities that will be ultimately result in developing the marketing strategies for the
organization. In this case the organization is Toyota and the organization is willing to launch
their Fortuner Model in Malaysian market. This study will be incorporating the various
aspects that will be ultimately result in developing the key areas for the organization that is
needed for the organization to look into. This is one of the major contributor towards the
development of the activities that will be liable for the development of the market for the
organization. The study will consist of background of the organization and positioning of the
brand compared to the competition. The study will also analyze the industry and the external
environmental factors. The will then discuss about the key success factors and create a radar
map. This study will also focus on the different aspects of the marketing strategy that will be
consisting defining the problem and analyse what market research approach the study will be
adopting. The study will be also stating about the measures that is needed for the collection of
the data and way to collecting the data and then the plan for analyzing such data for strategy
making. The study will be liable for developing the plan for Toyota to launch their Fortuner
line in Malaysia. Thus, it will be stating about the different strategies for the organization
such as product, place, promotion, distribution strategy along with the competitive strategy
for the organization.
Background
Toyota has been one of the most advanced company in terms of the development of
cars and Fortuner has been a popular car in the segment of premium SUV (Toyota.com

3MARKET STRATEGY AND PLAN
2019). Toyota is one of the most significant brand with a strong financial background that is
consisting revenue of USD 265 Billion (Toyota-global.com 2019). Fortuner is a mid-size
SUV with variants like real wheel drive and four wheel drive (Toyota.com 2019). This has
been a popular car all around the world and it has given a significant competition to the other
brands such as Proton, Mercedes, BMW and Volvo. Toyota has been one of the major
companies who are involved in the process of creating new innovation in the segment.
Positioning
Addressing the positioning is one of the major factors that will be leading to the
development of the aspects that are associated with gaining the knowledge about the current
position of the competitors (Mokaya, M’Nchebere and Kanyagia 2017). It is important for the
organization to address the positioning as it helps the company in determining the strategies
to place in the cognitive space of the customers. Toyota is brand that have been involved in
the process of creating a cognition space that will projects their brand as a more reliable
brand compared to the other brands.
Reinforcing Positioning
This is an important part for Toyota to incorporate the activities that will be projecting
the values that will be liable for proving the requisite support to the identity of the brand. This
helps in the maintaining the right brand awareness and brand image (Wason and Charlton
2015). Toyota being one of the major factor Toyota can utilize the factor that will be liable
for the development of the aspects liable for reinforcing the positioning. This has been one of
the major factor that contributes to influencing the aspects of the organization. The following
techniques can be utilized by Toyota to ensure reinforcing of positioning;
 Engaging in Advertisements
 Planning Promotional Tools

4MARKET STRATEGY AND PLAN
 Layout of Showroom
 Demonstration of the Products
Value Proposition Statement
Toyota thrives to deliver the key factors that will be projecting the value of extreme
quality by keeping sustainability in consideration. Toyota’s main focus is ultimate customer
satisfactions. Fortuner is a beast for the people who likes to get into the adventure of life.
Industry Analysis
There is a significant tool that is being used by the organization to assess the life cycle
of the industry (Church and Waclawski 2017). Toyota being one of the major company it
important for them to undergo with the various activities that will be helping them with the
assessment of market. This is vital for the company while considering to launch Fortuner line
up in the Malaysian market. This is an important aspect for the organization that will be
helpful for the development of the activities that are going to project the variables for that can
impact the strategies of the organization. The efficient tool that can help Toyota in assessing
the industry is stated below;
Industry Lifecycle
This is one of the most important tool that will be projecting the various aspects of the
organization liable for the development of the activities that project the variables for the
activities that will be depicting various stages. These stages are important to address to know
how the business operates, progress and prospects along with the collapse of the industry.
This lifecycle is consisting of key stages such as startup, growth, shakeout, maturity and
decline. This is very important for Toyota as a company while they are considering to
develop a market for the Fortuner line up in the Malaysian market.

5MARKET STRATEGY AND PLAN
2014 2015 2016 2017 2018
520000
540000
560000
580000
600000
620000
640000
660000
680000
Industry Lifecycle
Macro Environmental Analysis
This is one of the major factor that is liable for the development of the aspects that
will be liable for the assessment of the factors that directly influences the processes of the
organization. This is an important part for the organization as this can help the organization in
developing the key strategical influences. There are two main concepts that can help the
organization in developing the key aspects that is related to the assessment of the influential
external factors.
PESTLE Analysis
This is one of the major contributor towards the development of the factors that will
be responsible for the organization to address the factors that is associated with external
environment of the organization (Cadle, Paul and Turner 2014). This is one of the major
contributor towards developing the areas to address the issues of the external environmental
factors. These environmental factors are inclusive of Political, Economical, Social,
Technological, Legal and Environmental factors. The analysis of these factors are stated
below;
Fig: Industry Lifecycle
Source: Maa.org.my (2019)

6MARKET STRATEGY AND PLAN
 Political Factors: This is one of the most important factor that can influence Toyota
while considering to launch Fortuner line up in 2020 in Malaysia. This is one of the
major contributor towards the development of the market for the organization.
Malaysia is a democracy that is very less known for its political stability. According
to a research conducted by KPMG (2019) it has been observed that, there is
existence of political stability within the country. According to a study it has been
also observed that on a global competitiveness index, Malaysia is stated to be in the
23 position (Nst.com.my 2019). The world economic forum, Asian corporate
governance association also lists country in top ten. This help in determining the
aspects that Toyota does seemed to have an opportunity over there.
 Economical Factors: Malaysia has been 24th in the global rankings of World
Bank’s “Doing Business Report 2018”, making it one of the major countries where
easy of doing business is significantly high. According to Malaysian Investment
Development Authority (2016), it has been observed that there is a significant high
foreign direct invest in the country by big economies like Japan, USA and Singapore.
According to International Monetary Fund (2018), gross domestic product of the
country is USD 999.83 billion (Imf.org 2019). This makes a significant opportunity
as a market for Toyota to launch the Fortuner line up in 2020.
 Social Factors: Cars does attracts the social presence of the individuals and this has
been one of the major signature for the younger generation to attract the attention.
This is multi-racial country that has a rich and diverse social presence (Letchumanan
2016). However, there is a significance presence of middle class families in the
sector that can influence Toyota as Fortuner is a premium SUV.
 Technological Factors: Malaysia is one of the emerging economy and this is based
on highly technological advancements (Rasiah, Jomo and Felker 2013).

7MARKET STRATEGY AND PLAN
Incorporation of the technological advancements were also high that have enabled
the situation to more favourable for the organization. This can have a vital influence
on Toyota while being involved in launching their Fortuner line-up in the market.
This is a definitely a positive factor, however it is the duty of the organization to
involved in the process of utilizing it as a opportunity.
 Legal Factors: Automotive industry has been one of the most growing industry.
However, the companies who are involved in the process of selling and distributing
cars, they need to follow the regulations that states about fair business practices.
However, according to World Bank (2019), it has been observed that this is one of
the country that is having a strong regulatory framework. This can be an opportunity
for Toyota as strong regulatory frameworks results in less corruption.
 Environmental Factors: Environment has been one of the major concern for the
organizations as environmental sustainability is one of the major concerns for the
organization. Malaysia is looking to make their future more secure by utilizing clean
energy to develop a culture that will be liable developing a culture that is associated
with environmental sustainability (Shaikh et al. 2017). This is one of the most
important factor as this can be a great opportunity for organization as big as Toyota
for launching Fortuner SUVs.
Porter’s 5 Forces
Michael Porter has provided the requisite framework that has provided the guideline
that can help Toyota to get involved in the process of addressing the areas for
competitiveness in the industry. For Toyota, observed forces are stated below;
 Threat of New Entrants: The threat for the company considering the entry of the
new companies is significantly weak. There are barriers to for the new entrants in the

8MARKET STRATEGY AND PLAN
market. These barriers are large amount of capital required and it requires high
bonding with the customers.
 Threat of Substitutes: There are numerous companies who are involved in the
process of developing the key areas that are selling cars. However, Toyota’s only true
competitors are Proton, BMW, Volvo and Mercedes. Thus, it creates a moderate
threat for the organization in the case substitutes as there is a significantly higher
switching costs associated with the organization.
 Bargaining Power of Suppliers: There are numerous suppliers in automotive
market. This is one of the major contributor towards the development of the fact that
bargain power of the suppliers are significantly weak. However, it is the strong
relationship with the suppliers are one of the major factor that have contributed
towards providing them with a competitive advantage.
 Bargaining Power of Customers: In the segment of premium SUV bargain power
of the customers are significantly strong. There are several reasons that projects it, as
offerings from the competition is significantly high and customers are not very much
concerned with the price of the car.
 Industry Rivalry: Industry rivalry is significantly high and there is a significant high
expectation of the customers that have led to this situation. Government regulations
have also engaged a fierce competition by brand like Proton.

9MARKET STRATEGY AND PLAN
Radar Map
Threat to New Entrants
Threat to Substitute
Bargain Power of SuppliersBargain Power of Customers
Industry Rivalry
0
5
10
Toyota Porter's Five Forces
Key Success Factor Analysis
Toyota has been one of the companies that have involved in the process of developing
key factors that have influenced their business. These factors can help Toyota in being
successful in the market. These factors are stated below;
Production and Manufacturing: Toyota has been one of the pioneer in quality, durability
and reliability. Thus, making is one of the most value for money choice for the consumers
(Alhuraish, Robledo and Kobi 2014). Fortuner being one of the finest manufactured car does
have its own advantage in the SUV. Their lean manufacturing and JIT have set the standards
for the other companies. This has enabled the organization to maintain such quality and
durability in their products.
Management Philosophy: Consistent improvement that is known as Kaizen has been one of
the key success factor that have contributed towards the success of the organization.
Incorporation of JIT in their distribution method have enabled them to gain a competitive
advantage (Monden 2018). Respect and teamwork has been one of the key factors for the
success of the organization.

10MARKET STRATEGY AND PLAN
Extensive Research and Development: Research and development in the automobile sector
has been one of the key identities of Toyota. This is a vital area that have extensively
contributed towards the development of the factors that will be liable for the development of
the activities that are associated with the development of new products and gain competitive
advantage over other players in the market (Khan et al. 2013).
Market Research Strategy
Market research strategy is one of the major contributor that will be projecting the
values that will be liable for providing the company with a competitive advantage. The
market research strategy for Toyota is stated below;
Research Problem
Market dynamics are constantly changing and while Toyota is has chosen to launch
the new Fortuner in 2020. The research is conducted to identify the potential of the Malaysian
market for developing the key focus on the aspects of the market such as assessing the
potential of the company and analyse the consumer preference related to the offerings of
Toyota.
Marketing Research Approach
The market research approach for this particular study will be taking a deductive
approach. The study will utilizing a logical approach that will be dealing with the
development of the research based on the collected data from the sample.
Measures for Collection of Data
There are measures that needed to be taken care as this will be projecting the
reliability of the data. One of the measures that is needed to be concerned is the ability to
identification of the issue, create a questionnaire that is not biased in any ways and do not

11MARKET STRATEGY AND PLAN
engage in influencing the feedback of the respondents. The place and time for the interview
for the collection of data.
Data Collection
The data collection plan is inclusive of two types of data collection. The data
collection will be inclusive of the following;
Secondary data collection plan will be based on the data that is available in the various
platforms such as internet, library and many more. The secondary data will be collected from
the various secondary sources (Taylor, Bogdan and DeVault 2015).
Primary data collection will be addressing collection of feedback from the customers based
on the sample questions that is based on the activities such as perception and attitude of the
customers (Forrester and Sullivan 2018). This can help the organization to address the needs
of the customers who are involved in the process of buying premium SUVs.
Data Analysis Method
As it has been observed that the collected data is of mixed type, it needs to have a
significant approach to analyse the data. There are mainly two concerned areas that is focused
on the activities that will be liable for the analysis of the data. The analysis of the data will be
based on mix method that will be consisting of both primary and secondary data (Taylor,
Bogdan and DeVault 2015). This will enable the organization to identify the possible lacunas
in the market and assess the needs of the customers.
Expected Outcomes
The expected outcome for the study is one of the most significant factor that will be
projecting the significance of the study. One of the major expected outcomes from the
research is the identification of the customer needs. This will be helpful for the development
of the strategies that will be liable for addressing the customers with the right set of product