Marketing : Case study on Toyota

Case study: Toyota

Introduction

Toyota Motor Corporation is a Japanese multinational automaker headquartered in Toyota, Aichi, Japan. The company was founded by Kiichiro Toyoda in August 28 1937 as a spinoff from his father's company Toyota Industries to create automobiles. As an innovative leader, Toyota is well-known for its management philosophy and the world's first mass-market hybrids. On Toyota Company there are 331,876 numbers of the employee (as of March 31, 2013)

Toyota Motor, among the world's largest automotive manufacturers by auto sales designs and manufactures a diverse product line-up that ranges from subcompacts to luxury and sports vehicles to SUVs, trucks, minivans, and buses. Its vehicles are produced either with combustion or hybrid engines, as with the Prius. Toyota's subsidiaries also manufacture vehicles. Toyota makes automotive parts for its own use and for sale to others. Popular models include the Camry, Corolla, Land Cruiser, and luxury Lexus line, as well as the Tundra truck. Toyota is striving to develop automobiles that meet the needs of customers while at the same time achieving an optimal balance between consideration for the environment, safety, drivability, comfort and reliability. Toyota is integrating its assembly plants around the world into a single giant network. Since 1997, Toyota has sold more than 3.3 million full hybrid vehicles worldwide, representing more than 80% of all global hybrid sales. Toyota Company produces different range of the automobile according to the need of the customer and more ever it manufacture the various design of automobile targeting the specific market segment.

          

Toyota has built a huge manufacturing company that can produce millions of cars each year for a wide variety of consumers. Why was it able to grow so much bigger than any other auto manufacturer?

 Toyota has built a huge manufacturing company that can produce millions of cars each year for a wide variety of consumers and has products for different price points demanded by consumers. They analyze what the customer want and they deliver according to their need. Toyota Company is the master of lean manufacturing and continuous improvement. Its plants can make as many as eight different models at the same time, bringing huge increases in productivity and market responsiveness.

The Toyota Company grow so much bigger than any other auto manufacture because of the act according to preference of the customer

Market segment: Toyota Company produce large range of subcompacts to luxury and sports vehicles to SUVs, trucks, minivans, and buses. They segment their product according to need of customer. They create their market segment. They produce Scion car that is target the teenage and it becomes famous among the teenage.

Customization: customization is a process of modifying the some feature of the product. The Toyota Company give high focus on customization to satisfy each customer. They are more flexible and they do a lot of assignment before introducing the customized auto. They can customized in the auto in the section like music player, color of the auto, stereo component to wheel even the floor mats.

Performance quality and the design: The Toyota Company listen to different customers for designing the new car. They build the car in the design that is suggested by the consumer and they are timely updated. They develop various design of automobile that is different from the competitor. Another feature is the performance quality. The performance quality of all the Toyota company auto is high and they provide high performance quality auto in low budget.

Product line: Toyota uses two way line stretching strategy. They produce high luxury car to simple car that satisfied the need of both the customer. In the market there are very expensive automobiles as well cheaper. It manufacture various design of the automobile focusing different income level of customer.

Guaranteed Auto Protection: Toyota Company provide the insurance of the automobile. They provide guaranteed auto protection service to all types of the auto mobile. GAP is only available at the time of purchasing or leasing new or used Toyota.

Toyota is integrating its assembly plants around the world into a single giant network. The plants
will customize cars for local markets and shift production quickly to satisfy any surges in
demand from markets worldwide. And the Toyota marketing strategy focuses on perfection. They will analyze the people perfection and make a market strategy according to people perception about Toyota automobile. 

 Has Toyota done the right thing by manufacturing a car brand for everyone? Why
or why not?

Toyota makes automotive parts for its own use and for sale to others. Popular models include the Camry, Corolla, Land Cruiser, and luxury Lexus line, as well as the Tundra truck. There are wide range of line product of Toyota Company automobile. I think Toyota Company done the right thing by manufacturing a car brand for everyone. They manufacture a really great range of exciting new cars which will open people’s eyes and minds. They analyze what a customer need and develop the same feature automobile in the comparable price. They divide their market segment. In the market there are different people with different perception, someone may view automobile as only transportation mean someone may take as self-pride. For those customer Toyota has to design differently. They have to act what a customer want. . Its plants can make as many as eight different models at the same time, bringing huge increases in productivity and market responsiveness. That’s prove they produce wide variety of the auto that will use by different types of customer. They try to develop the auto according to the customer perception. They want to satisfy each customer. . It has been successful because has products for different price points demanded by consumers. The price range of the Toyota Company is lies very expensive to inexpensive. Toyota auto mobile are in the reach of middle class to high class such that the user of the Toyota automobile are very much higher than other automobile company. Toyota understands that each country defines perfection differently. Toyota company produces and distribute their automobile all around the world and they know depending upon the country, perfection towards the companies automobile are different so they have to act according to people perfection at that place. They develop wide variety of the product. But the core system of the Toyota is same all around the world but outer design and other part may be different according to the choice of huge number of customer.

 No doubt Toyota will feel the impact of its massive recall for a long time. Did
Toyota grow too quickly as Toyota suggested? What should the company do over the
next year, 5 years, or 10 years? How can growing companies avoid quality problems in
the future?

Since 1997, Toyota has sold more than 3.3 million full hybrid vehicles worldwide, representing more than 80% of all global hybrid sales. Toyota Company offers full line of cars. Popular models include the Camry, Corolla, Land Cruiser, and luxury Lexus line, as well as the Tundra truck. Toyota is striving to develop automobiles that meet the needs of customer’s .Toyota Company grow too quickly as their suggested. Toyota is integrating its assembly plants around the world into a single giant network. They do customize on the car according to the need of the customer. Toyota’s need to keep their product’s selection and quality superior to their competition. Toyota company are become one of the successful manufacturing company due to their consistent quality. They have to maintain their performance quality. Whether they customized the car or develop new model according to customer need they need to maintain same core quality all around the world. They need to maintain reliability on automobile. The same superior quality and dependable should be maintain.

The design of the automobile should be unique and while developing new model design car they need to maintain core material as same. They need to customize regular according to the customer. They need to maintain extraordinary look for each model.  Such that it will look very distinctive than competitor. They need to produce high quality and high specific design automobile. They need to give services after the purchasing the product and more ever they have to delivery every item in the time. They need to create more value of automobile by giving some of the discount or either by various services. They need to provide e-support for their customer and they need to update their information through the media.

As we know people perfection are different according to the geographic area. A great product by itself is not enough so the Toyota need to advertise themselves according to customer perfection at that place. They need to make market strategy differently in different country. The Toyota Company is giving Guaranteed Auto Protection to their customer. They need to keep it up.

Conclusion

Toyota Motor, among the world's largest automotive manufacturers by auto sales designs and manufactures a diverse product line-up that ranges from subcompacts to luxury and sports vehicles to SUVs, trucks, minivans, and buses. . It has been successful because has products for different price points demanded by consumers. The price range of the Toyota Company is lies very expensive to inexpensive. The main things about Toyota company specialist is they customize their automobile according to their customer need in affordable price. They need to update their feature and they should develop new automobile that satisfy customer need. The consumer may define the product differently but the company need to focus on their objective. The Toyota Company need to maintain their high performance quality and to increase market share thy have to develop new design automobile with new feature and with superior performance quality.

References

(2013, 6 30). Retrieved from www.toyota-global.com: http://www.toyota-global.com/company/history_of_toyota/

Kotler, P., & Keller, l. K. (13th edi). Setting Product Strategy. In Marketing Management (pp. 321-325). Prentice Hall.

Roberts, G. (2013, 6 30). Retrieved from www.fleetnews.co.u: http://www.fleetnews.co.uk/fleet-management/in-the-spotlight-toyota-and-lexus-fleet-services/41803/