¶ … integrated marketing plan to be used by Toyota in the marketing and sale of its products worldwide. The marketing plan begins with a description of the company, its strategic plan and focus, a situational analysis then follows which comprises of a SWOT analysis, industry analysis, company analysis, customer analysis, product-market focus. These are then followed by the development of a strategic focus, marketing goals and objectives, target market analysis, company's position in the global car market, marketing strategy using the 4 Ps (Product, Price, Place, Promotion),marketing implication analysis, implementation plan, evaluation and control as well as a conclusion
The global car manufactures and retail industry experienced a general slump in the aftermath of the 2009 economic downturn. However, the years following the economic downturn have been recovery years as seen in the general rise in car sales and consumer demands for affordable cars. The consequence of this rise in demand has been an oversupply of car by various manufacturers. This competition has meant that various companies like Toyota have to formulate the best marketing strategies that would allow them to increase their sales amidst competition. Their marketing plan must therefore be inspired by a spirit of gaining a competitive advantage. In this paper, we present a marketing plan to be used in the marketing of Toyota's product worldwide.
3.0 Company Analysis
Toyota Company is a global car manufacturer that specializes in the manufacture, assembly as well as distribution of its products all over the world. Toyota has been ones of the top performers in the global car retail as a result of its highly efficient production and management styles. The company operates in an almost monopolistic environment. This is evident from the fact that it operates as a dominant player in the car exportation market. The company's differentiation strategy has an allowed it to enjoy a monopolistic presence in the developing world. Its marketing structure is however largely oligopolistic. This is due to the fact that there are several other key market players like GM and VW who are also its main competitors.
Strategic Plan and Focus
Toyota's existing corporate strategy is noted to be in line with its marketing plan objectives. The strategic focus of the company is evident in its mission statement, corporate goal as well as core competencies and resources that are used in the gaining of a competitive advantage.
4.1 Mission Statement
Toyota's mission statement clearly indicates that it seeks to create a prosperous society via its automotive manufacturing functions. The company therefore is aimed at an achieving a stable and yet long-term growth objective that is to be in synch with various factors such as the environment, local communities, global economy, internal environment as well as stakeholders. These are to be implemented through strategies that are in consideration of the social, psychological, ethical, and political influences that impact the global car market.
4.2 Corporate Goals
Toyota has committed itself to the offering of sustainable and environmentally friendly hybrid alternatives for each and every car model that they sale on the global market. This strategy is aimed at allowing the company to make a sale of 1 million hybrid cars within a year. The company has set to achieve this goal by the end of the year 2012.
The company has also improved its 2011 Environmental Action Plan with a commitment to six main areas; the Environmental Management, the Quality of Air, changes in Energy and Climate, various aspects of Recycling and Improved Resource uses, Improved Resource usage as well as Societal Cooperation. The Fifth Toyota Environmental Action Plan (FY2011-FY2015) is aimed at creating a sustainable and environmental friendly company by FY2015 (Toyota,2011). Toyota is committed to the reduction of its carbon footprint by observing certain parameters of its fuel economy values
.4.3 Core Competencies and resources for Sustainable Competitive Advantage
The company is working hard towards the achievement of profitability and sustainability by means of hard work and innovative use of its workforce, technologies and other resources. The company also has a well developed and equally well equipped team that helps it in its R&D. It also has a wide distribution network that helps it in its logistical functions.
4.0 Situation Analysis
Toyota has a huge capacity that allows it to stay at the very top of its productivity efficiency as well as a quality ranking is attributed to its internal management. This involves a very productive process that is managed by its top management team that is known for its competency. Toyota's production team has an obsession .with the attainment of high efficiency. A SWOT analysis is important in evaluating the company's strength, weaknesses, and the available opportunities.
5.1 SWOT Analysis
SWOT analysis is evaluating the internal and external factors that affect the operation of a company. The strengths and weaknesses forms the internal factors while the opportunities and strengths forms the external factors....
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