1.Introduction: ………………………………………………………………..………………………1 Executive Summery………………………………………………………….……………………1 Background of the Company……………………….…………………………………………1 Standardization and/or Adaptation in Toyota…………………………..……………1 Marketing Mix: 7ps…………………………………………………………………..……………1 Standardization or Adaptation of Toyota’s Products……………………1 Standardization or Adaptation of Toyota’s Prices…………………………1 Standardization or Adaptation of Toyota’s Promotions……….………2 Standardization or Adaptation of Toyota’s Places…………………..……2 Standardization or Adaptation of Toyota’s Physical Evidence………2 Standardization or Adaptation of Toyota’s Processes ……………….…3 Standardization or Adaptation of Toyota’s People……………………….3 …show more content…
The founder of Toyota passed out recently of natural causes at the age of 100.
Standardization and/or Adaptation in Toyota
Toyota is a global brand company which holds a disdainful heading in the pinnacle of the top 100 brands list created by Interbrand; a brand consultancy. Toyota has adopted multiple strategies and models to keep its standards and adaptations in the ever-growing international market. The chosen marketing mix will be discussed in addition the reasons it was adopted by the company, and how it makes its products reliable and affordable with its global standard. When entering a global or international market, a company has to adopt or standardize the company marketing mix. The essence of international marketing is finding the balance between standardized approach in the marketing mix and adaptation approach gives responses of regional differences. Some factors are there standardization and adaptation. Toyota has global market so the company must use its marketing mix accordingly, because company should know the regional variation and the customers’ interest of buying the products. We will discuss the marketing mix or seven ps; promotion, prices, promotion, place, physical evidence, process and people of the Toyota Company and to what extent they have been standardized or adapted.
Marketing Mix: 7ps Standardization or Adaptation of Toyota’s Products In today’s world it is very difficult to carry out a normal and productive life without an
Ford Motor Company is one of the world’s largest producers of cars and trucks and one of the largest providers of automotive financial services marketing vehicles under the eight brands shown below. The Company is a publicly traded company listed on the New York Stock Exchange. During 2002, the company made 6.7 million vehicles and employed 328,000 people worldwide. Business partners include 25,000 dealers and more than 10,000 suppliers.
Toyota motor products include; Hybrid, Plug-in Hybrid, Cars, MPVS/Vans, SUVs, Fuel Cell and Commercials. The strategy Toyota uses for marketing is mostly to showcase its different range of vehicles to the market as they also get inspired through the same to manufacture better vehicles. With this method both the clientele and the company benefit from each other.
1. Should he pay the “commission” and, if so, to whom? Explain your reasoning. If he pays, how should he handle the situation with the sales manager and the vice president of sales? In your answer, include a discussion of the arguments in favor of paying and the arguments in favor of not paying.
List and analyze FIVE factors which Marketing Manager can apply as tools in to his /her crafting strategy, formulation and execution
In the following report a description and analysis of the international marketing strategy of BMW will be given. First a description of the company will be given, shortly explaining the history and elaborating on it’s current situation. Secondly an overview of the company’s activities will be provided including: products, brand portfolio, markets and other relevant information. This will lead into a discussion regarding the company’s recent performance. Furthermore a detailed description and analysis of BMW’s i-series’ international marketing activities is given which will explain market segmentation, targeting and positioning, the product strategy, market entry and distribution methods and promotion and pricing strategies. Then
2. How would leveraging capabilities with respect to the Indonesian market differ between an Australian/New Zealand producer of computer software and an Australian/New Zealand manufacturer of automotive parts?
For more than 50 years, Toyota Motor Corporation has been one of the world’s leading manufacturers of motor vehicles in the United States. It was born a Japanese company in 1935 and came to America in 1957. Now headquartered in Toyota City, Japan, it employs more than 300 thousand employees globally (Toyota Motor Corporation Company Profile, 2012). In addition Toyota is a global marketing organization. It strategically operates primarily through Japan, Asia, Europe, and North America; but its vehicles are sold in more than 170 countries and regions across the globe (Toyota Motor Corporation Company Profile, 2012). The Toyota brand is traditionally defined by brand attributes such as global leadership, innovation,
Concerning the author’s last rule about communication, the case of Toyota “The Americanization of a Japanese Icon” clearly explains the importance of not relying on technology alone for communication. “The Fact is That Toyota and it’s U.S subsidiaries don’t always see eye to eye, especially when it comes to making design choices for the American market. Sometimes
Creation, acceleration and emotion are the key components for any automobile industry to deliver its goods to the expected standards. General Motors, popularly known as GM has been a pioneer in the global autoindustry for more than 100 years. Developing from horseless carriages to the latest sports cars, innovations have always excelled at putting the world on wheels. In fact, there are a lot of exciting things to share about the company. GM’s corporation started in 1892 by R.E. Olds, with a solid financial foundation, which enabled him to produce great vehicles for customers and build a bright future for employees, partners and shareholders. GM slowly initiated its staff of experts in the factories which are located in different parts of the globe and acquired the brands like Chevrolet, Pointiac, GMC, Buick, Cadillac(General Motors Corporation, 2015). Leading the way is their tailored leadership team who set high standards for the company so that they can produce the best cars and trucks. This means that GM is committed to deliver vehicles with compelling designs, flawless quality and reliability, leading safety, fuel economy and commercial features. All are intended to create that special bond that can only happen between a driver and a vehicle. General Motors is a customer driven company and aims at earning customers
As the United States unite in the global effort to monitor the use and waste of energy, fuel efficient or hybrid cars such as the Toyota Prius has dominated the market over the SUV’s who once adored every American driveway. With much doubt, in 2004, the Prius has become the leading selling vehicle in America. The sleek design has caught the eye and pockets of many Americans who prefer the “gas sipper” over the “gas guzzler.” (Kotler & Armstrong, Principles of Marketing, 2010)
“Toyota Industries Corporation was founded in 1926 by Sakichi Toyoda. It is the world’s largest vehicle manufacturer. It conducts its business worldwide. Toyota’s vehicles are sold in more than 170 countries and regions. It employs approximately 320,808 people worldwide. It leads the automobile industry in environmental technologies with the success of the hybrid technology in the Prius and Hybrid Camry” (Toyota, 2012);
The literature on international marketing presents a confrontation between two mainstream schools of thought regarding international marketing. The one supports the standardization approach and argues that multinational companies’ behavior should be uniform to minimize total costs and promote a global corporate image. The other argues for the need for adaptation to fit the unique dimensions of each local market. This research investigates companies’ practical level of adaptation and standardization in international markets. It identifies
We will start the external analysis with the PESTEL analysis of the automotive sector followed by the Porter’s five forces analysis and we will end by having a look at the key competitors and competitor pricing.
Toyota is a key player in global automotive market. Its structure constitutes if various production plants in different locations and a very strong branding which helps it capture a major market share. Like other enterprises, Toyota has several strengths and weakness which makes it what it is now. Toyota heavily invests in Research and development which helps it come up reputable product line which is spread out throughout the world because of its strengthening global distribution network however its recent product recalling, loose grip in key geographic areas and wrong allocation of resources shows that even a strong brand like Toyota has its weaknesses.
Audi is one of the world leading luxury vehicle brand that is own by Volkswagen group. It enjoys the same reputation as BMW and Mercedes-Benz in the international market. In China, it expands rapidly during the past two decades. Currently, in the segment of vehicle market for business and governmental use, Audi has achieved satisfactory performance (Hua, 2010). The aim of this essay is to study Audi’s marketing strategy in combination with marketing theories. Firstly, its marketing activity in China will be introduced. Secondly, relevant marketing theories that can be used to explain the activities will also be described. Thirdly, whether Audi’s marketing strategy has achieved