Product- Market Expansion Grid

1727 Words Jul 30th, 2011 7 Pages
Product- Market Expansion Grid

Away from assessing current businesses, designing the business portfolio absorbs finding businesses and products the company should consider in the future. Companies need expansion if they are to compete more effectively, satisfy their stakeholders, and magnetize top talent. Growth is like pure oxygen and it creates a vital, enthusiastic corporation where people see genuine opportunity. At the same time, a firm must be careful not to make growth itself an objective. The company's objective must be profitable growth. Marketing has the main responsibility for achieving profitable growth for the company. Marketing must identify, evaluate, and select market opportunities and lay down strategies for capturing
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TMC is part of the Toyota Group, one of the largest conglomerates in the world. Toyota Motor Corporation is headquartered in Toyota City, Aichi and in Tokyo. Its Tokyo head office is located at 1-4-18 Koraku, Bunkyo-ku, Tokyo 112-8701, Japan. Nagoya Office at 4-7-1 Meieki, Nakamura-ku, Nagoya City, Aichi Prefecture. In addition to manufacturing automobiles, Toyota provides financial services through its Toyota Financial Services division and also builds robots.

Initially Toyota management might consider whether the company can achieve deeper market penetration-making more sales to current customers without changing its products. It might initiate new marketing program, extra effort on research and development, new production facilities, vehicle assembly plant or dealership in current market areas to make it accessible for more customers. For example, Toyota used to penetrate market depending heavily on aggressive marketing and research and development and superior product quality. In 2010 Toyota spend total of 2.5 billion US Dollar for advertisement and research and development purpose. Toyota's marketing efforts have focused on emphasizing the positive experiences of ownership and vehicle quality. The ownership experience has been targeted in slogans such as "You asked for it! You got it!" (1975–1979), "Oh, what a feeling!" (1979 – September 1985, in the US),"Who could ask for anything more" (September 1985–1989), "I love what you do for me,