Toyota Motor Vietnam (TMV) was established on September 5, 1995 (official opening in October 1996). The total investment capital was 89.6 million USD based on the capital contribution of Toyota Motor Corporation (70%), Vietnam Engine and Agricultural Machinery Corporation - VEAM (20%) and KUO Singapore Pte.Ltd (10%). TMV focuses on three business fields, which are: Producing, assembling and selling Toyota vehicles; Repairing, maintaining and selling Toyota genuine parts; and Exporting auto parts. Products of TMV include: Hiace, Camry, Corolla Altis, Innova, Vios and Fortuner (Locally-produced models) and Cruiser, Hilux (Imported models). Joining the automobile market since its initial days, up to now, TMV has incessantly developed both in sales, production scale and labor force. The total sales of TMV have reached more than 145,000 units. The current number of employees is over 1,400 and other 2,000 employees working in its official dealers and dealer’s branches nationwide. Being one of the first automobile Joint Ventures appeared in Vietnam, TMV always makes efforts to be "Moving Forward" together with the working philosophy: "To customers, we always try our best with heart and deep gratefulness with “Customer first”; To partners, we always commit to be good leader in development progress; To employees, we always record and respect each individual’s efforts and contribution in our success." The report below is conducted to assist Toyota Motor Vietnam have an overview of current Vietnam market and the company itself to keep developing and continue penetrating successfully in Vietnamese market.
I. Appraise the processes and techniques that TMV can use for auditing the marketing environments. The marketing environment surrounds and influences directly or indirectly on an organization’s capability to undertake its business. The external environment to the firm constitutes a large part of the marketing environment but it is not all about. Another part of the marketing environment is the internal environment, which refers to the factors that affect the marketing function. There are three key perspectives on the marketing environment, namely the 'macro-environment', the 'micro-environment' (those two belong to the external environment) and the 'internal environment'. Auditing the marketing environment is essential for planning due to the following reasons. Firstly, it brings an understanding of macro and micro marketing environment forces. From that understanding, the organization is able to compete more effectively against its rivals. It also assists in the identification of opportunities and threats. Based on the structure of marketing environment, we can follow the process that starts with the macro-environment, steps to the micro-environment and ends with the internal environment to understand clearly about the factors affect the company. There are many techniques used to analyze each perspective but it is hard to apply all of them so an overview of marketing environment and appropriate audit techniques will be taken here.
The macro-environment comprises general forces and trends, the big issues affect all business activities in the market, rather than specific organizations. However, the organization has no control over the macro environment. It is continuously changing therefore the company can only respond to changes. Thus, auditing the macro-environment will help the company to be flexible to adapt and take opportunities. PESTEL is one of the most common strategic planning tools used to evaluate the macro-environment before starting a project. PESTEL stands for Political, Economic, Sociological, Technological, Environmental and Legal. This analysis is a useful technique for understanding market growth or decline, business position, potential and direction for operations.
• Evaluate the technique...