marketing analysis of toyota
TRANSCRIPT
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Let’s Go Places
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It created its first product, the Type A engine, and, in 1936, its first passenger car, the Toyota AA.
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As of February 2016, Toyota is the 13th-largest company in the world by revenue. And one of the largest automobile manufacturers.
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How did they do it ?
What was their Marketing Strategy ?
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It observes and adapts to Market- demands.
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Takes into account various cultures
and regions for advertising.
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Product Differentiation
● Customization● Reliability● features
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Has Toyota done the right thing by manufacturing a car brand for everyone ?
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YES● It creates an extensive
Product Line.
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● Saves from fluctuations in a particular segment.
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● Increased market share● Increased profits
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Why was Toyota able to grow so much bigger than any other auto manufacturer?
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● by● By making a product for everyone.● Continuous innovation● Focussing on different cultures and market
trends.
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Toyota Recall Crisis
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In 2009-2010, Toyota had to recall a large number of cars.
It had a negative impact on the sales and product-reliability.
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Remedy ??It should try to regain trust of the consumers through innovation and delivering superior quality.
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Innovation, quality control and training of staff are the keys to long term development.
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Summary:- ● Toyota’s marketing strategy.● Philosophy of product for everyone.● Reasons for amazing growth.● Car-recall crisis.● Long term development strategy of innovation, quality control and
training of staff.
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DisclaimerCreated by Ayush Anurag, IIT Kanpur, during a Marketing Internship by Prof. Sameer Mathur, IIM Lucknow.