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Marketing Audit Table of Contents Table of Contents 2 Introduction 3 About Toyota 3 Marketing Audit 4 Target Market 8 Reference List 10 Introduction Changes in the market, society and economies have led to the shortening of the product life cycle due to which the organizations are now seen to intensify their innovation related to the creation of new product that can offer the customer with more attracting features.
Newness in the product signifies minor modification of the existing product that is new to the world and can also create new market for the organization. Higher the degree of newness, higher is the chances of failure or success. On one hand the newness can bring success for the organization by increasing the sales and profit, whereas on the other hand, it may lead to high cost and failure that can create problems for the business (Cravens and Piercy, 2010). This study focuses on conducting a marketing audit for a customised car that can serve many purposes at the same time. This car serves the purpose of multifunction and customization that offers the owner with the opportunity of using and transforming the car in a variety of new designs. It can serve the function of both city car and pick up. Toyota has shown interest in launching this car and in this regards the marketing audit has been conducted. About Toyota Toyota Motor Corporation is one of the world’s most favourable and leading manufacturers of automobile. It is the market leader in developing technologically advanced and environmental friendly cars. ...
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