Toyota Motor Corporation (Essay Sample)
Using TOYOTA MOTOR CORPORATION (TMC) as an example, devise a comprehensive marketing plan based off of the Marketing Plan Outline below. Sections II, III, and IV were completed as weekly assignment, so these do not need to be completely rewritten. However, you will be required to apply any feedback received to further develop and improve these sections. The final 10-12 page plan will be due on the final day of class. Marketing Plan Outline Section I: Executive Summary Table of Contents Section II: Situation Analysis A. Background on Organization B. Market Needs C. The Market 1. Market Demographics 2. Market Trends 3. Market Growth 4. Macroenvironment D. The Company 1. Mission 2. Product/Service Offering 3. Positioning 4. SWOTT Summary: a. Strengths b. Weaknesses c. Opportunities d. Threats e. Trends 5. Historical Results E. Competition 1. Direct Competition 2. Indirect Competition Section III: Marketing Strategy A. Value Proposition B. Critical Issues C. Financial Objectives D. Marketing Objectives E. Target Market Strategy F. Messaging G. Branding Section IV: Marketing Mix A. Product B. Pricing C. Promotion 1. Advertising 2. Promotion 3. Direct Marketing 4. Public Relations D. Service E. International Markets F. Implementation Schedule Section V: Financials A. Sales Revenue B. Product Sales Revenue C. Channel Sales Revenue D. Profitability E. Return on investment F. Break-Even Section VI: Controls A. Implementation B. Keys to Success C. Market Research D. Contingency Planning Section VII: References Section VIII: Appendices (if needed) Section IX: Tables (if needed) Section X: Figures (if needed) Writing the Marketing Plan The Marketing Plan: Must be ten to twelve double-spaced pages in length and formatted according to APA style as outlined in the approved APA style guide. Must include a cover page that includes: - Student’s name - Course name and number - Title of paper - Instructor’s name - Date submitted Must include an introductory paragraph with a succinct thesis statement. Must address the topic of the project with critical thought. Must conclude with a restatement of the thesis and a conclusion paragraph. Must use APA style as outlined in the approved APA style guide to document all sources. Must include, on the final page, a Reference Page that is completed according to APA style as outlined in the approved APA style guide.source..
TOYOTA MOTOR CORPORATION (TMC) MARKETING PLAN.
TMC is an automotive company whose headquartered are located in Toyota, Aichi Prefecture, Japan. Toyota Motor Corporation (TMC), which was founded in 1937 by Kiirchiro Toyoda has recorded consistent growth since it begun its operations. Toyota Motor Corporation directly employs over 330,000 employees worldwide. Toyota Motor Corporation specializes in automotive industry with the main venture in production and sales of motor vehicles. Though Toyota is the main brand name of Toyota Motor Corporation, the company also manufactures automobile products that range from luxury, sports and SUVs to affordable trucks, buses and minivans. The company has other product lines under its brand, which include Lexus, Toyota and the recently launched Scion. Toyota Motor Corporation has expanded over the years and it has operations in over 170 countries globally. Toyota Motor Corporation is currently the world leading auto-maker, a title that the company reclaimed in 2012 (World ranking of manufacturers). TMC surpassed General Motors by selling over 9.75 million units of vehicles worldwide in 2012 and therefore obtaining revenue of $226 billion. Aggressive expansion strategies and product diversification in the last three years have enabled TMC realize huge turnover in the period 2009, 2010, 2011 and 2012. TMC management believes that the year 2013 will surpass the enormous performance of 2012. TMC projects revenue turnover of more than $230 billion in 2013 (Wingfield-Hayes, 2013). Toyota Motor Corporation operates in a market dominated by various competitors such as General Motors, Honda and Ford. The recent performance of TMC has seen it surpass it rival automakers in terms of sales and market share. Other competitors imposing competitive threats to TMC include Volkswagen, Peugeot and Tata Motors among others. Toyota has in the recent years merged with companies such as Toyota Motor Sales Co and Toyota Motor Co in order to gain competitive advantage over its rivals (Wingfield-Hayes, 2013). Toyota Motor Corporation aim is to remain the largest automobile manufacture in the world. To achieve this, TMC has planned a series of expansions by opening new plants. This growth will be supported by investing back some of the profits gained in operations. Toyota share prices are doing very well in the market, trading at $122 MPS in NYSE, which is a good indication of growth and profitability. TMC will continue to offer consumers with satisfying products at affordable prices (The New York Times, 2013).
TABLE OF CONTENTS
TOC \o "1-3" \h \z \u HYPERLINK \l "_Toc374998171" EXECUTIVE SUMMARY. PAGEREF _Toc374998171 \h 2
HYPERLINK \l "_Toc374998172" TABLE OF CONTENTS PAGEREF _Toc374998172 \h 4
HYPERLINK \l "_Toc374998173" 1.0 INTRODUCTION. PAGEREF _Toc374998173 \h 7
HYPERLINK \l "_Toc374998174" 2.0 SITUATIONAL ANALYSIS PAGEREF _Toc374998174 \h 7
HYPERLINK \l "_Toc374998175" 2.1 Background on the organization PAGEREF _Toc374998175 \h 7
HYPERLINK \l "_Toc374998176" 2.2 Market Need PAGEREF _Toc374998176 \h 8
HYPERLINK \l "_Toc374998177" 2.3 The Market PAGEREF _Toc374998177 \h 9
HYPERLINK \l "_Toc374998178" 3.0 THE COMPANY. PAGEREF _Toc374998178 \h 10
HYPERLINK \l "_Toc374998179" 3.1 Mission PAGEREF _Toc374998179 \h 10
HYPERLINK \l "_Toc374998180" 3.2 Toyota Products and Services PAGEREF _Toc374998180 \h 10
HYPERLINK \l "_Toc374998181" 3.3 Positioning PAGEREF _Toc374998181 \h 11
HYPERLINK \l "_Toc374998182" 3.4 SWOT Analysis PAGEREF _Toc374998182 \h 11
HYPERLINK \l "_Toc374998183" 3.4.1 Strengths PAGEREF _Toc374998183 \h 12
HYPERLINK \l "_Toc374998184" 3.4.2 Weaknesses PAGEREF _Toc374998184 \h 12
HYPERLINK \l "_Toc374998185" 3.4.3 Opportunities PAGEREF _Toc374998185 \h 13
HYPERLINK \l "_Toc374998186" 3.4.4 Threats PAGEREF _Toc374998186 \h 13
HYPERLINK \l "_Toc374998187" 3.5 Trends PAGEREF _Toc374998187 \h 13
HYPERLINK \l "_Toc374998188" 3.6 Historical Results PAGEREF _Toc374998188 \h 13
HYPERLINK \l "_Toc374998189" 3.7 Competition PAGEREF _Toc374998189 \h 14
HYPERLINK \l "_Toc374998190" 3.7.1 Direct PAGEREF _Toc374998190 \h 14
HYPERLINK \l "_Toc374998191" 3.7.3 Indirect PAGEREF _Toc374998191 \h 14
HYPERLINK \l "_Toc374998192" 4.0 MARKETING STRATEGY PAGEREF _Toc374998192 \h 14
HYPERLINK \l "_Toc374998193" 4.1 Value Preposition at Toyota Corporation PAGEREF _Toc374998193 \h 14
HYPERLINK \l "_Toc374998194" 4.2 Critical Issues PAGEREF _Toc374998194 \h 15
HYPERLINK \l "_Toc374998195" 4.3 Financial Objective PAGEREF _Toc374998195 \h 15
HYPERLINK \l "_Toc374998196" 4.4 Marketing Objectives PAGEREF _Toc374998196 \h 16
HYPERLINK \l "_Toc374998197" 4.5 Toyota Target Market Strategy PAGEREF _Toc374998197 \h 16
HYPERLINK \l "_Toc374998198" 4.6 Messaging PAGEREF _Toc374998198 \h 16
HYPERLINK \l "_Toc374998199" 4.7 Branding PAGEREF _Toc374998199 \h 16
HYPERLINK \l "_Toc374998200" 5.0 MARKETING MIX. PAGEREF _Toc374998200 \h 17
HYPERLINK \l "_Toc374998201" 5.1 Product. PAGEREF _Toc374998201 \h 17
HYPERLINK \l "_Toc374998202" 5.2 Pricing PAGEREF _Toc374998202 \h 17
HYPERLINK \l "_Toc374998203" 5.3 Promotion. PAGEREF _Toc374998203 \h 17
HYPERLINK \l "_Toc374998204" 5.4 Service PAGEREF _Toc374998204 \h 18
HYPERLINK \l "_Toc374998205" 5.5 International Markets. PAGEREF _Toc374998205 \h 18
HYPERLINK \l "_Toc374998206" 5.6 Implementation Schedule. PAGEREF _Toc374998206 \h 19
HYPERLINK \l "_Toc374998207" 6.0 FINANCIALS PAGEREF _Toc374998207 \h 19
HYPERLINK \l "_Toc374998208" 7.0 CONTROLS PAGEREF _Toc374998208 \h 20
HYPERLINK \l "_Toc374998209" 7.1 Keys to Success. PAGEREF _Toc374998209 \h 20
HYPERLINK \l "_Toc374998210" 7.2 Market Research PAGEREF _Toc374998210 \h 20
HYPERLINK \l "_Toc374998211" 8.0 CONCLUSION. PAGEREF _Toc374998211 \h 21
HYPERLINK \l "_Toc374998212" 9.0 REFERENCES: PAGEREF _Toc374998212 \h 21
Toyota Motor Corporation (TMC) is one of the leading automobile manufacturers globally (World ranking of manufacturers, 2012). The recent financial statements show that the company is doing well inspite of the increased competition in the industry (The New York Times, 2013). The current market price of its share is trading at $122MPS in NYSE, which is an indication of a company that is well positioned in the vehicle market. Despite the global financial crisis that affected the automobile industry in 2008 and the many competitors such as General Motors, Honda, Ford and Volkswagen in the industry, TMC has indeed positioned itself as an ultimate market leader (The New York Times, 2013). Has this rapid growth and market resilience been facilitated by a strong marketing plan and financial stability? The following is an analysis of TMC’s market plan with the aim of examining its success in the automobile industry.
2.0 SITUATIONAL ANALYSIS
2.1 Background on the organization
Kiichiro Toyota founded Toyota Motor Corporation in 1937 in Japan. The dedicated founder spent his life in the car manufacturing and built an A1 prototype as a start to what would become the successful Toyota Motor Corporation. The company later expanded its operations around the globe, and is currently among the first five leading car brands all over the world. The company’s first international investment began in 1957 in the United States. Since then, it has steadily progressed in the international market. In 2012, it was the leading automobile industry in the world, beating its rivals such as Ford and General Motors in sales revenue.
Toyota Company is regarded as one of the leading companies in car manufacture, and its dealership is distributed across the globe. Toyota Company was established in 1937 in Japan where its headquarters remain. After operating for over two decades, the Toyota Company introduced a new brand called Corona in the United States in 1965. Toyota was the best selling product in the United States as an imported product. The company began its vehicle manufacturing business in the United States in the 1980s. Today, Toyota provides energy efficient, environmental friendly and popular economy cars such as SUVs, vans, hybrids, and light trucks. The brands provide comfort and safety to clients. Toyota car brands are distributed in over 170 nations across the world. It has its biggest market share in the Asian continent.
2.2 Market Need
In the recent years, carmakers like Toyota and General Motors have been on the headlines due to rising demand of their brands that is higher than the volumes they are able to manufacture. The big automakers had to redevelop their approach to satisfy the demands of their respective clients. However, increased production volume was followed by recession of the economy that reduced their sales volume and eventually huge losses. Despite the changes, the industry remains a vital contributor to the economies of many countries.
As the fuel prices continue to escalate, there is a big concern for cheap and environment friendly cars, thus the demand for low-fuel cars is high over fuel guzzlers. Therefore, the available market solely favors fuel-efficient cars.
The US economy is slowly recovering and most citizens are preserving their luxurious cars while others are buying more. The improvement of the economy is a sign that most people will be able to buy cars, not only for commercial purposes but also for also luxurious purpose because they will not h...
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