Marketing Strategy of Viet Nam Toyota Inc

TABLE OF CONTENTS I. INTRODUCTION1 1. Overview Toyota motor mickle1 2. Overview Toyota motor Viet Nam2 3. Literature review2 4. Purpose of this investigate paper2 II. METHOD3 III. MATERIAL4 IV. RESULT5 1. Personal learning5 2. Research info6 V. REFERENCE 13 VI. addition15 * Questionn communicatee15 INTRODUCTION Toyota motor Corporation, abbreviated TMC, is a multinational travel manufacturers headquartered in Toyota, Aichi, Japan. The companionship was founded byKiichiro Toyodain 1937 as a spinoff fromhis fatherscompanyToyota Industriesto create automobiles.Toyota Motor Corporation(TMC) is the worlds bountifulst automobile manufacturers, change over 8. 4 one million million vehicles in 2010 on all(prenominal) 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 circumspection style that the company uses has been maven of the reasons for the firms good performance. There are some(prenominal) other salient factors that yield made the company achieve the niche of market leader. The market structure the company operates in crapper non be definitely stated.Some may consider it to be a monopoly. This is due to the fact that the company is a prevailing market player in car exportation. In fact, its differentiation dodge has made it enjoy an virtually monopolistic presence especially in the trailing nations of the world. On the other hand, the market structure can be conditionn 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 put forward sure it reacts to their actions in a behavior that leave guarantee its market leadershipWith their consistency in innovating designs and over a billion dollars spent in advertisement a year, Toyota has become an attraction in t he eyes of many auto consumers worldwide. Toyota has built its written report not nevertheless by producing high fictitious character vehicles at affordable prices, but the brand and merchandise 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 ( tobacco mosaic virus) was established on September 5,1995 ( decreed 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 witness the needs of Vietnamese consumers. Joining the automobile market since its initial days, up to now, TMV has incessantly developed both in sales, carrefourion surpass and labor force. According to Forture magazines (Published global affair magazine). The k ey 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 productions. This is a sound strategy that brings TMV to success. This psychoanalyse get out show the importance of marketing strategy of Viet Nam Toyota Inc. METHOD Our 5-year look for 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 federal agent of Toyota in southerly region. This research surveyed 100 people.The major subjects were sales representatives of the agent, staffs of the marketing de federal agencyment and nodes. In which, 30 sales representatives were chosen on the succeeding(a) criteria having good achievement in the agent and receiving good feedback from customers. 70 selected customers were those who had demand of bu y car and those who were the agents close customers or potential customers. The instrument employed in this account was consultations and survey (questionnaire). A set of 20 questions closely linked to the study was given to each subject. The interview with some random questions was based on subjects characteristics (e. . job, department, product evaluation, income, and so on. This survey took one hebdomad to get the feedback for evaluating and judgment. The questionnaire was also performed in online version under the help of Google Docs (https//docs. google. com/) and shared on social net profit Google+. All collected data was digitalized and statistics were made using Microsoft Excel and IBM SPSS Statistics software. MATERIAL Observations were made at customers shop at the Toyota Company in order to learn the consumers attentions on products and their final decisions.The opinions of customers were collected by questionnaire and interview. In the questionnaire, there are two ma in parts that are personal information section and research information section separated. The personal information part was designed to collect some private information of participants, particularly age, gender, and job. And the research information part which consisted of 20 research questions is divided into 4 main groups as follows Group 1 (question 1 to 3) was designed to collect some private information of participants. Besides, it is use to coiffure the customers demand and finance.From this we can find latent customers of the company. Group 2 (question 4 to 7) was to range how customers get information about the product of Toyota companies. And we can know the marketing method Toyota company has used that brings the most effective result Group 3 (question 7 to 12) aimed at the opinions of customers after using Toyota corporations products. It is not only used to assess the quality, services but also the attitude of the staff. Group 4 (question 13 to 20) was used to get the complain from the customers and what they expect to the products and service in the future.From this we can identify the way to develop the company. RESULT * Part 1 Personal information map 1 Gender Chart 1 indicates the participation of male and pistillate in shop through the Toyota formation. It shows that not only women who have shopping habit but also men took a significant part of using toyota products (male accounts for 63% and female accounts for 37%). Chart 2 Customers Besides, chart 2 displays the fortune of participants customers in shopping through the Toyota system in which business and piece staffs are accounted for a large percentage (45% of business and 37% of office staffs).Meanwhile, other job also accounted for a considerable portion (18%), in which include singer ,actor, footballer, etcetera * Part 2Research information Why do more consumers choose Toyota? The same reasons the critics do. Toyota leads the acquire in fuel efficiency, durability, popularit y and safety. Toyota is the most fuel-efficient full line automaker in America. Plus, Toyota is the arrive 1 selling brand of hybrids Toyota has more hybrids on the road than all other manufacturers combined. Moreover, Toyota has the greatest durability of any manufacturer.With the highest percentage of vehicles sold over the past 20 years still on the road among major manufacturers. And Toyota is the premier(prenominal) manufacturer to include Star Safety System features standard on all vehicles. Thats just part of the reason why Toyota has more vehicle listed on the top 10 of least expensive cars to discipline than any other brand. Otherwise,Toyotas received more 2010 JD Power & Associates Vehicle Dependability Awards than any other brand. Toyota has the largest number of vehicles on Cars. coms top 10 American Made Index.Seven Toyota vehicles have won IntelliChoices Best Overall appraise award for their segments. And Toyota is the highest-ranking auto company on Bloomberg Bus inessweeks 2010 list of the 50 Most Innovative Companies. Chart 3 displays the customers criteria of choosing Toyota products which was divided into four main elements benefit, price, companies temperament and quality. Over a half of them was preferred products quality (56. 25%) to price (21. 8%), companies reputation (12. 5%) and benefit (9. 37%). This finding shows that the consumers priority concern was products quality which conflicts with their experiences.Market Program This consists of the four marketing mix elements that are designed to fit the market in harm of their needs and ability to access such products and services. * Product Strategy The Company is believed to be moving with a strategy of mass production of which it has enabled it to sell widely in the global market. It has also included the strategy of hybrid product, where it can double the amount of production for the arising needs in the market. * Price Strategy The reputation of the Company has been developed by producing high quality vehicles that can be bought at a intelligent price.The Company has also been using tactful pricing strategies through price differentiation so that they are different from other automobile producers. * Location Strategy Being a global producer and supplier of Toyota automobiles and their components, Toyota Company has carriageed itself all over the world giving it a clear cut within the market. at heart three years to come, it is working towards the achievement of about 35 percent of the market share, and this exit make it to be best and top supplier of automobile products. * Promotion StrategyThe Company is determined to use a pricing mechanism that will give it a competitive edge over its main competitors. This is a mechanism that it is using to market itself so that it can get hold of market share that will see it better in achieving the highest level in the market. Marketing Implementation Analysis Toyotas main point will be in reaching the new ma rkets of China and Europe. It will also be touch about the competition from other firms like Ford and GM. An advantage the company has is the widely differentiated product range.Establishing new factories in these new markets as well as opening up new franchises will help the company in getting an ease of penetrating the new markets Human resource is one of the most important aspects in this plan. The company should always make sure they have highly propel staff as this is directly proportional to good production both in the qualitative and numeric aspects. Toyota can do this by coming up with schemes of rewarding their employees like helping them own cars subsidize rates. The company should also make sure the personnel are the best in terms of good know-how.The company needs to carry out frequent training towards this end. Tactical Marketing Activities Toyota has taken a bold step in being a leader in sustainable development. This position will need some innovations which tran slate to expenditure. They are however necessary as a way of staying out front of competition. The activities the company will embark on are given in chart 4 Chart 4 Tactical Marketing activities Specific Tactical Activities Person/DepartmentResponsible RequiredBudget millions of yen CompletionDate Product Activities1. Car air conditioning compressor2.DC-DC converters for fuel efficiency 3. Low Exhaust Emission Engine Production engineers and Product management 30. 45 2011 Pricing Activities1. red-hot Technologies2. Compression of Production platforms3. Merger of Assembly points Operations management 15. 25 2012 Distribution Activities1. Opening up of new factory in America and china2. Machine handling3. Logistical operations Logistics management 21. 40 2010 IMC (Promotion) Activities1. Concerts2. Volunteer3Youth Invention club Marketing manager 9. 20 2012 Implementation PlanThere are a number of activities that have been projected within a life span of three years and the follow ing representation shows the aspects that have been targeted and within what strategic period of time. Year To be Achieved New Targeted Markets (millions) Cumulative Targeted Markets (millions) nowadays (2010) Working towards hybrid products 250 250 1st Year (2011) Introduction of pricing mechanism and price differentiation strategies. 320 600 second Year (2012) Enhancing hybrid products by use of new technologies 370 970 3rd Year (2013) Product differentiation to meet the needs of the market 420 1320REFERENCE 1. Armstrong, G. , Kotler, P. (2002). Marketing an introduction (International edition). New Jersey Prentice Hall. Retrieved October 7, 2010 from http//www. pearsonhighered. com/educator/product/Marketing-An-Introduction-7E/9780131424104. page 2. Armstrong, G. , Kotler, P. (2003). Marketing an introduction. New Jersey Prentice Hall. Retrieved October 7, 2010 from http//html-pdf-converter. com/en/convert? u=search-pdf-books. com/philip-kotler,-and-gary-armstrong. -marketing -management. -prentice-hall,-2003-download-pdf-free-pdf/ 3. Chamberlin, P. (2009).Customer service accusation handling. New York The Gurdian. Retrieved October 7, 2010 from http//www. impactfactory. com/p/customer_service_skills_training_development/issues_936-2103-87287. html 4. Hiroshu O. (2003). Chairmans message. Retrieved September 30th 2010, from the Toyota company website. http//www. toyota. co. jp/en/ir/library/annual/pdf/2003/chairmans_message_e. pdf 5. Levitt, T. (1975). Marketing myopia. Harvard business review , 26-40. Retrieved October 7, 2010 from http//www. casadogalo. com/marketingmyopia. pdf 6. Johannes, G. , Bill, K. , Plenert. (2000).Finite capacity scheduling management selection and implementation. New York John wiley sons Inc. Retrieved October 7, 2010 from http//search. barnesandnoble. com/Finite-Capacity-Scheduling/Gerhard-Plenert/e/9780471352648 7. Porter, M. (1996). What is strayegy? Harvad business review , 61-69. Retrieved October 7, 2010 from http//ww w. ipocongress. ru/download/guide/article/what_is_strategy. pdf 8. Shaffer, J. (2003). Communicating for business results how to choose and execute communication projects that dramatically help company. Journal of employee communication management , 34-36. . Thomas, J. G. (2001). Business formulation long range and strategic management. Dublin Black Hall Publishers Ltd. Retrieved October 7, 2010 from http//books. google. co. ke/books? id=MiR2ls7Uyo8Cdq=Business+planningsource=gbs_navlinks_s APPENDIX QUESTIONNAIRE Name of the consumer ________________________________ Age ______ Sex _______ Address ______________________________________ City ________________ State ___________________ Zip _________________ Telephone ____________________ Fax ____________________________ netmail _________________________ 1.In what type of business, industry or profession do you work? ( cheer check one. ) 0 Agriculture/forestry/ turn 1 Data processing/computers 2 Finance/banking/insurance 3 Health care (medical, dental, etc. ) 4 Real estate 5 Wholesale trade 6 Retail trade 7 Other ______________ (please specify) 8 Communications/publishing/advertising 9 Education 10 Government/ customary administration 11 Manufacturing 12 Personal/business services (consultant, CPA, lawyer, etc. ) 13 Transportation/ exoteric utilities 2. What is your position? ( occupy check only one. ) 14 Chairman of the Board 15 Owner/Partner 6 Other Company Officer (V. P. , Treasurer, etc. ) 17 Manager 18 Scientist or Engineer 19 Sales 20 Clerical 21 Other _______________ (please specify) 22 President/CEO 23 handler 24 Department Head 25 Supervisor/Foreman 26 Other administrative position not mentioned 27 Technical Specialist 28 Retired 3. What is your total annual household income? (Include income from all family members and all sourcessalary, bonuses, investment income, rents, royalties, et 29 Less than $30,000 30 $40,000 $49,999 31 $60,000 $74,999 32 $100,000 $149,999 33 $250,000 $499,999 34 $1 million or more 4.How often do you see the advertisement of Toyota Corporation ? * Once in a day * More than 5 times * Not even once 5. Please state where you starting time heard about companies. * Infomercial ________Radio ad _______Newspaper ad _______ * Internet ________Sales agent ________Company rep ________ * A friend ________Family member ________Other (specify) ________ 6. Did the ad provide relevant information about the product? * Excellent * Very good * Not appealing at all 7. be the claims made in this advertisement believable? * Very believable * Not believable * Cant say 8. How is our customer service? Very good * Average * Poor 9. Does the marketing team act like professionals? * Yes * No 10. Please rate your satisfaction with the quality of our products. * Excellent * Very good * Average * Poor 11. Please rate your satisfaction with the delivery system of our products. * Excellent * Very good * Average * Poor 12. Please state the best aspects of our products ______________ ________________ 13. Please state the worst aspects of our products ______________________________ 14. List any other features that you would like to see in our services or products ______________________________