Solution
Sangeeta answered on
Jun 01 2020
Marketing Strategies in Automobile Industry: The Case of Toyota Australia
Problem Statement
To start with, within present day’s highly competitive era the term ‘Strategy’ is highly important for all business companies. At present, the companies have started realizing the fact that consumer directed as well as aggressive marketing approaches perform an important part for becoming effective leader (Bagozzi, 2015). Although, globalization has introduced several opportunities for all, the marketplace is even now crowded with few unidentified threats and high level of competition. Due to such competition, a marketing strategy needs to aim at being exceptional, differential-creating and lastly, advantage-creating (Church and Godley, 2003). For obtaining differential and unique benefit, the company must be innovative with respect to its marketing strategy. Nowadays because of innovative marketing approaches Toyota has turned out to be the largest and leading seller of automobiles in different countries across the globe. The corporation has also taken up several
and positioning, advertising, and distribution approaches for the purpose of capturing the marketplace (Bagozzi, 2015). Furthermore, taking the above discussion into consideration the chief purpose of this research is to identify marketing strategies adopted in automobile sector by taking the case of Toyota Australia.
Research aim, objectives and research questions
The main aim of this research proposal is to identify marketing strategies adopted in automobile sector by taking the case of Toyota Australia.
Research Objective
· To examine marketing strategies adopted in automobile sector by taking the case of Toyota Australia
· To examine the effectiveness of strategies adopted by Toyota Australia.
Research Questions
· What marketing strategies have been adopted by Toyota Australia to remain competitive?
· Are the marketing strategies adopted by Toyota Company effective enough?
· What steps can Toyota take for further improving its marketing strategies?
Justification and potential output of the research project
There is no doubt in the fact marketing plays an important role in the success of any company or business. It is highly significant for the company like Toyota to employ effective market strategies in order to catch attention of maximum number of customers and retain the existing ones. This particular paper attempts to examine the marketing strategies adopted in automobile sector by taking the case of Toyota Australia. The research is supposed to assist companies like Toyota to have in place effective marketing strategies. The research attempts to allow marketing strategy developers, decision makers as well as planners to adopt effective marketing.
Literature Review
To start with, the notion of effective marketing holds high significance within every business segment. The basic definition of effective marketing strategies involves making sure sound promotion of the offered products as well as services among the potential buyers. Effective marketing thus
ings to play innovative strategies and control over procedures so as to regularly update the customers with the offerings and distinctive features of the offered products (Church and Godley, 2003). As per Dale (2007), marketing basically refers to act of
inging to the notice the product and its distinctive features among the customers for keeping up a needed level of excellence. Different approaches to marketing include TV advertisements, public relation, social networking, print media, cele
ity endorsements and several others. Some of these concepts are old and some are new, but the aim of all is to
ing to notice the distinctive feature of the offered product and services.
Moving ahead, it has been widely observed that marketing has become an essential component of almost every business today and especially for automobile companies. In order to ensure long term existence and sustainability it is highly vital for Toyota to ensure that the products and services offered by them are properly marketed among the target market (Church and Godley, 2003). Additionally, effective marketing is essential for companies like Toyota for a number of reasons. Firstly, effective marketing management makes sure that the offered product reaches the right customers. Marketing and promotion are an important element that differentiates a company from its rivals. Secondly, effective marketing is important for customer satisfaction that eventually results in customer loyalty (Constantinides, 2006). Thirdly, effective marketing ensures increased level of revenues and greater productivity for any company. Sound marketing efforts enable the company to reach higher number of customers that to in very less time. Fourthly, effective marketing aids organizations in reducing waste and inventory considerably. It makes possible for the employees to operate closely with the customers globally. Lastly, sound marketing efforts enable close coordination amongst the employees of a company. It even infuses a powerful feeling of team work among the staff members (Constantinides, 2006). Further, it is also generally agreed today that the main reason to pursue quality is to satisfy customers.
Marketing Initiatives at Toyota
Toyota is good example of an organisation having outstanding marketing strategies. Regardless of its complexity and size Toyota has successfully managed to maintain its organization, strategy and individuals completely aligned with its chief purpose i.e. search of pleasant growth and improvement of...