Monitor and adjust the marketing mix
Business Report: TOYOTA
Toyota Motor Corporation (TOYOTA) is one of biggest automaker in the world. Main products are a passenger car, truck, bus, RV etc. The company headquartered in Toyota, Aichi, Japan which employed 300,734 people worldwide and was the third largest automobile manufacture in 2011 by production behind General Motors and Volkswagen Group. Toyota is the eighth largest company in the world by revenue (around 200 billion USD) in 2011. The company reported it had manufactured its 200million cars in 2012.
Toyota is a leading company, and for over 70 years. It has been expanding business all over the world and developing products. The company has 12 percent of the global market share. We can see and buy products everywhere.
Toyota was founded by Kiichiro Toyoda in 1937 as a spinoff from Toyota Industries to create automobiles. In 1934, while still a department of Toyota Industries, it created its first product, the Type A engine, and, in 1936, its first passenger car, the Toyota AA. Nowadays Toyota Motor Corporation group companies are Toyota, Lexus, Daihatsu, and Hino Motors, along with several non-automotive companies.
Toyota is a recognized brand, a reliable automotive maker and has a huge brand image. The company produces various kinds of cars, such as passenger car, light car, sport car, luxury car, SUV, HV, EV, PHV (plug in hybrid), and we can choose and buy them. Toyota’s cars have a lot of polished design, unique colors and clear trim which is attract to customers easily. Furthermore, the company has an innovative technology and big global market share (12%) in the world.
This would be interesting. We see the internet web sites, Toyota Japan, Toyota the USA and Toyota Australia, the company sells different products to each countries to more adapt to the local demand. Some cars are similar and common, such as Prius, Corolla and Camry. Compared with the USA and Australia web site, most of the presented cars are SUVs, 4WDs and Trucks which are more useful in the USA and Australia rather than Japan. In addition, Japan web site that exposes 73 cars, Australia web site that exposes 25 cars, and the USA web site that exposes 23 cars, it shows that the company concentrates on selling important products in an overseas strategy.(expect Lexus brand)
Toyota also produces a luxury car which is Lexus brand. The quality and the safety which are equal to luxury cars, such as Benz and BMW, and the reliability and economical, and it had price setting reasonable, moreover, the highest reception and customers after follow, and aims at a new height.
Toyota Australia uses psychological strategy for price. They set every last three number of prices are 990 which customers perceive as lower than it is. (e. g. $23,990 instead of $24,000)
Comparing with GM and Volkswagen, Toyota has competitive advantage of car prices, however prices of Toyota’s cars are still more expensive than developing automakers, the company has great quality and brand image, and we also expect high level services as a customer.
The price information as below found on Toyota web sites, it shows that Toyota sells a car same price approximately other countries. It’s a great, this would be Toyota’s spirit. For example, Volkswagen’s famous car which is Passat, if you bought it in Australia, it could cost 43,498 AUD, but if you bought it in USA, it could cost 25,845AUD, the difference of 18,000 AUD comes out.
Prius (Exchange rate 1AUD=1USD, 1AUD=100JPY)
Australia (Prius) AUD 23,990
The USA (Prius) USD 24,200 =AUD 24,200
Japan (Prius) JPY 2,320,000 = AUD 23,200
2.3Promotion (branding, advertising, sponsorship )
We can see Toyota’s car in the city, a dealer, TV commercial, magazines, everywhere. On the other hand, if people buy a car, it would be a momentous decision,...