TABLE OF CONTENTS
Overview Toyota motor Corporation
Overview Toyota motor Viet Nam
Purpose of this research paper
Toyota motor Corporation, abbreviated TMC, is a multinational automobile manufacturers headquartered in Toyota, Aichi, Japan. The company was founded by Kiichiro Toyoda in 1937 as a spinoff from his father's company Toyota Industries to create automobiles.
Toyota Motor Corporation (TMC) is the world’s largest automobile manufacturers, selling over 8.4 million vehicles in 2010 on all five continents. Toyota today has 77 manufacturing companies in 27 countries and markets vehicles in more than 170 countries worldwide, supported by a consolidated workforce of approximately 320,000 people.
A very efficient management style that the company uses has been one of the reasons for the firm’s good performance. There are many other salient factors that have made the company achieve the niche of market leader. The market structure the company operates in cannot be definitely stated. Some may consider it to be a monopoly. This is due to the fact that the company is a dominant market player in car exportation.
In fact, its differentiation strategy has made it enjoy an almost monopolistic presence especially in the developing nations of the world. On the other hand, the market structure can be seen as an oligopoly. This is due to the fact that there are other key players like GM who are peer competitors. Toyota is keen to see what these competitors are doing and make sure it reacts to their actions in a way that will guarantee its market leadership
With their consistency in innovating designs and over a billion dollars spent in advertisement a year, Toyota has become an attraction in the eyes of many auto consumers worldwide. Toyota has built its reputation not only by producing high quality vehicles at affordable prices, but the brand and marketing skills they use through tactful pricing strategies. Toyota has differentiated their prices from the traditional pricing set up of many of the other automobile makers. However, it is their effectiveness in targeting consumers' needs and wants that has pushed them to the top.
Toyota motor Viet Nam ( TMV) was established on September 5,1995 ( official opening in October 1996 ) . In Viet Nam, Toyota is one of the most famous car brands, accounting for a large market share in the market, with many kinds of car that meet the needs of Vietnamese consumers. Joining the automobile market since its initial days, up to now, TMV has incessantly developed both in sales, production scale and labor force.
According to Forture magazine’s (Published global business magazine). The key to success of Toyota corporations is not only style quality but also due to many reasons. One of the main reason for success of TMV is that they concentrate on marketing and promotion plan for their products. This is a sound strategy that brings TMV to success. This study will show the importance of marketing strategy of Viet Nam Toyota Inc.
Our 5-year research of Toyota Marketing Strategies in Viet Nam began in the summer of 2005 and ended in the fall of 2010. The subjects were selected from Toyota Ben Thanh, known as the best-selling and the largest agent of Toyota in southern region. This research surveyed 100 people. The major subjects were sales representatives of the agent, staffs of the marketing department and customers. In which, 30 sales representatives were chosen on the following criteria: having good achievement in the agent and receiving good feedback from customers. 70 selected customers were those who had demand of buying car and those who were the agent’s close customers or potential...
Please join StudyMode to read the full document