Developing a Marketing Plan and Strategies (Research Paper Sample)

Developing a marketing plan and strategies
Name
Institution
DEVELOPING A MАRKЕTING РLАN АND STRАTЕGIЕS
Executive summary
This report presents a marketing plan and the strategies to be used in introducing a new product into the market and ensure maximum sales revenue. The company of concern in this case is the Toyota Motors Company, which will be introducing a new brand the Toyota Camry into the market in 2015. In order to design a good marketing plan and strategy, there is need to analyze the company and the business environment in which the company operates. This helps one to know the market habits and structure, which are important in sales and marketing. In this case, Toyota Company engages in a global market where its subsidiaries act as the agents for their products in the various continents and countries. Internally, the business has a number of strengths and weaknesses. Among the weaknesses, include high car recalls and weak presence in the upcoming market (Borowski, 2010). The strengths of the business include strong brand portfolio, internal innovative culture, leadership in green cars, and leadership in sales. Externally the company has a number of opportunities and faces a number of threats. Among the opportunities, include the increase in fuel prices and the acceptance of the green technology. On the other side, the threats include fluctuating fuel prices, stiff competition, and natural disasters. The company has to be observant on such things in order to be in line with the market forces (Borowski, 2010).
Producing cars in consideration to these threats and weaknesses will lead to better sales and thus the revenue generated from the sales. The new brand to be introduced, the Toyota Camry should thus be produced in regard to these strategies. Before launch of the product, the company is supposed to carry out effective advertising and product awareness among the customers. Such activities as promotions and other selling strategies can also be used during the actual selling of the product (Borowski, 2010).
Introduction
The motorcar industry includes a large number of organizations, firms, and companies dealing in the design, manufacture, development, marketing and selling of vehicles (Shankar and Carpenter, 2012). In addition to this, it also includes companies dealing in the design and manufacture of vehicles spare parts and body. It is one of the most important sectors in the world’s economy and gives a lot of revenue to the related countries. However, this industry does not include other industries dealing in the repair and maintenance of the vehicles after sale. Such companies as fuel filling stations and repair shops are not included in the business. This industry began in the 1890s with the manufacture of the horseless carriage. The industry has ever since developed and improvements in the model and design of the vehicles have led to emergence of very complex and comfortable vehicles. The United States has been a leading producer of vehicles since the discovery of auto vehicles until 1994 when it was overtaken by Japan (Mehri, 2005). The countries have been competitors and have been challenging each other until 2009 when china took the lead. China has been very successful in production and has even doubled the United States in production. This has put Japan at position three in the production. The industry is very competitive and customers are very keen on small technological improvements that companies put in place. Among the manufactures, Toyota Company is the leading producer of motor vehicles followed by General Motors. The total number of vehicles produced in the world in 2011 was 79,989,155 vehicles while the number produced in 2012 was 84141209 vehicles (Shankar and Carpenter, 2012).
Toyota Motor Corporation is one of the leading producers of motor vehicles and is based in Toyota Japan. It started in 1933 as a branch of the Toyoda Automatic Loom Works. Since then, it has developed its technology in production and design and is now the world-leading producer of motor vehicles. It is closely followed by General Motors which was previously the world-leading producer (Shankar and Carpenter, 2012). Over the years, the company has produced several models of the car and Toyota Corolla is the best-selling model. It has had over 30 million sales and is sold all over the world (Mehri, 2005).
The company is headed by a president who is assisted by a number of chief officers who help him in delegating duties and managing the business. The chief officers are also the directors to the company and come up with strategies to increase production and improve sales. The non-board managing officers help in the implementation and supervising of the activities in the company. The company has expanded its business and has other production sites in the United States, Canada, China, Singapore, Belgium, Kenya, South Africa and many more countries. In total, there are about 52 production sites and companies all over the world. Directors manage the independent branches and are responsible for the daily running activities of the company and report to the president (Borowski, 2010).
The company mainly deals in the production and sale of vehicles, machine tools, spinning and weaving machines, industrial vehicles and automobiles, special body parts, automatic vehicle maintenance lift, and automobile wheelchairs (Borowski, 2010). The company operates globally and its target markets are in city centers and capital cities of the various countries. The company sells its products in more than 160 countries worldwide. The company has had many changes in their operations and management, which has led to its improvement in performance. The company changed its management structure in 2011, which has led to better results and improved decision-making. These changes in management have propelled Toyota to be a world-leading producer and seller of automobiles (Shankar and Carpenter, 2012).
The Challenge
The company has come up with a new model for release in 2015 and there is need to develop a good marketing plan and strategies that will enable high sales according to the targets (Borowski, 2010). The new model in manufacturing is called Toyota Camry and will be a new Toyota brand in the market. In this case, branding and market segmentation to identify the best markets will be very important. A number of product awareness techniques will need to be put in place to prepare customers mentally for the release of this new model. There is also the need to identify a number of sales techniques which need to be put in place for effective sale of the product (Borowski, 2010).
Situation Analysis
Company analysis
Toyota Company has been successful in the design and sale of its new brands and products. This has been possible because the company has a good market share and a good percentage customer loyalty and retention. The company has been successful in sales mainly because it is sensitive in changing its management style and structure over time (Shankar and Carpenter, 2012).
Goals
Toyota as a company has many goals in the production of automobiles. One of the main goals is to produce vehicles that will help to ensure zero casualties from traffic accidents (Mehri, 2005). This is their production goal and to achieve this, they engage in search for new technologies and new designs that can ensure safety to their customers in case of an accident. To achieve this, the company sensitizes its workers to keep in mind the people who use the cars, the vehicle, and the surrounding environment. The company engages in accident investigation and analysis, it performs simulations of solutions to the problem and then develops the solutions. The company also has an integrated safety management concept, which it follows strictly. This, together with the knowledge they have gathered over the years from accidents has propelled them to continue producing very efficient and effective vehicles. Another goal as highlighted by their president Mr. Akio Toyoda is to ensure that their customers are happy all the time that they chose Toyota (Mehri, 2005).
In addition to this, another goal is to ensure that Toyota is the company that is chosen by customers. To do this, the president assured people that he would ensure that they give high quality products and offer good services to their customers. The president also pointed out that another important goal for the company is to have a strong market base and increase customer loyalty and retention. This will assure them of increased sales and stable revenues resulting from the sales. This will also help to market their company to other customers who are not aware of Toyota Company (Mehri, 2005).
Focus
Toyota Company is focusing on the sales revenue and profits resulting from the sales. Toyota is out to ensure high sales and high profits resulting from its products. This will help the company to widen its network and increase its production units. Another focus of the company is to ensure that the products and by products of manufacturing do not affect people and the environment negatively (Mehri, 2005). To achieve this, the company is coming up with engine technologies that do not allow excessive release of environmental pollutants into the air. The company is also focusing on the opportunities available in the market. Such areas as energy, biotechnology, and afforestation are some of the focus areas of the company. Such opportunities will help in acquiring a large market share and establish a good market base, which will ensure stable revenue. The release of the 2015 Toyota Camry will be one of the successes of 2015 as the brand will come with advanced features and will help to achieve some of the set goals for the company. This will be a great show of their focus geared to...