Innovation and Commercialization Report for Toyota Motors

This report provides a comprehensive analysis of Toyota Motor Corporation's innovation and commercialization strategies. It begins with an introduction to innovation and an overview of the company, highlighting recent challenges related to product quality and market performance. The report details the commercial funnel process and proposes innovative changes to the Etios Cross model, such as introducing an eight-way power-adjustable driver's seat with leather upholstery and heated front seats, aiming to enhance customer satisfaction and market value. It explores market opportunities, the competitive landscape of the UK automotive industry, and resource requirements, including human resources and raw materials. The report outlines financial projections, funding sources, and techniques to improve performance, including monitoring systems and benchmarks. Finally, it discusses tools to safeguard intellectual property, such as patents, and concludes with a summary of the key findings and recommendations, supported by references to relevant books and journals.

Innovation and Commercialization

TABLE OF CONTENTS
 Introduction
 Company Overview
 Commercial Funnel
 Proposed Changes
 Market Opportunity
 Resource Requirement And Financial Projection
 Fund Require
 Source of Fund
 Tool to safeguard Intellectual Property
 Conclusion
 References

INTRODUCTION
• Innovation is the process of bringing some sort of change in the already launched
product of the company to enhance the quality of company product.
• This presentation highlight overview of company and issue faced by the organization.
After that highlights the different solution of the same and financial projection of new
innovation.
• In the end highlights different funding source and tool to safeguard intellectual right.

Company Overview
• Toyota Motor corporation is a Japanese multinational automotive
organization headquartered in Toyota.
• Toyota was one of the market leader in the automobile industry
for many years and seen good amount of success for good period
of time but in recent time scenario is not that same.
• As it has seen in the recent past that organization is suffering
from the issue of the quality and this has impacted the profit of
the company in the market.

Commercial Funnel
 Commercial Funnel refers to the buying process through which company used to lead
through their customer at the time they are buying product and services of an
organization.
 Toyota also can overcome the same by applying this six stages of commercial funnel
in an organization.
 Awareness Phase: It is the phase customer get information about the company product.
Toyota in this phase has to make sure that they uses the combination of the marketing
activity in the organization to aware consumer in the market about company offering.

Proposed Changes
• To introduce a innovative product in the organization.
Organization may look to bring variety of different
feature in their old Etios cross Model.
• Some of the innovative change may be eight-way
power-adjustable driver's seat with leather upholstery for
all the seat and also may look for heated front seats to be
introduce to improve level of seat comfort.

Market Opportunity
There is many different marketing opportunity available for the proposed product. Some of them are as
follow:
• Value: Biggest opportunity is that it will improve the level of value of customer satisfaction in the
market.
• As price of the product is low and good to attract the customer, with that if company is able to brought
the above feature which will improve the customer satisfaction.
• This will help the stake holder like consumer in satisfying their need, Shareholder and investor in
getting best return out of their investment.

Industry Overview
• Automotive industry of UK is one of the biggest industry of
the UK. This industry is very competitive industry as there
are many competitor in the UK market.
• Some of the biggest competitor of Toyota are Aston Martin,
Bentley, Caterham Cars, Daimler, Jaguar, Lagonda, Land
Rover. In the year 2019 itself This industry has seen
production of 1.3 million vehicle production.

Resource Requirement And Financial
Projection
 Human resource: Toyota has to make sure that they
used to procure new multidimensional skill set
employee in the organization.
 Also, has to make sure that they used to provide
good sort of training to previous human resource.
 Raw Material: Toyota also has to make sure that
they used to procure good amount of raw material in
the organization to introduce new and updated
change in the product of company.

Source of Fund
• There are many different source of fund through which organization can raise the fund
for the project, some of the source of raising fund are as follows:
• Owners Fund: Toyota can look to use own fund to fund the project of the company.
As organization is having good financial position in the market.

Fund require
Element Amount
Raw Material 10000
Training to Employee 5000
Market Research 8000
Conveyance Charge 3000
Utility Bills 4000
Overhead 10000
Total 30000

Technique to Improve Performance
 Organization will be using different monitoring system in the organization to test the
effectiveness of change by fixing up the different benchmark for the different stage in
the organization.
 After that checking the progress of the project by comparing the actual performance of
the project with already made benchmark in the organization.