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International Marketing Strategy Report - Essay Example

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According to IMF, the Russian economy is about 2 trillion doallrs in GDP. The country is one of the highly growing countries in the world. The country has a favourable political and socio-economic environment that is crucial for business. Toyota Motor Company is a multinational vehicle producer and a public company listed in the New York Stock Exchange and London Stock Exchange. The company has a global presence with operations in countries such as Japan, USA, Canada, Russia and European nations among many other regions. In the Russian market, the company commands a leading market share with about 150,000 units sold in 2012. For the company to survive in any political regime there must be satisfactory authenticity as perceived by the citizens through continuous economic and effective development. Adherence to the established code of conduct leads to increased sales and market growth in foreign operations. The Macro, Micro and Eternal Environment Influences Over the years, Toyota Company has faced a number of challenges in their established markets in business operations, particularly in the production segment. Specifically, the automobile products are seen to have defective parts and other engineering challenges. This led to a number of recalls that dented the reputation of the firm. Nonetheless, the executives insisted that they marked vehicles for defaults that were regarded non-problematic in order to establish the real challenges and please the clients. Moreover, the company is faced with market challenges in their Russian and Japanese market due to the growing tensions between the two nations. This has given the German and Korean firms a chance to grow their market share in the country. The company is faced with high competition from other automobile firms such as General Motors, Honda, and Ford. The Toyota Company, being a multinational presence in the industry, has to deal with the recognized legal and regulatory requirements in their international markets. Every nation has their own regulations on business operations that affects corporate outcomes. Appreciating that Russia underwent through 70 years under communist rule that ended in 1990, it is outright that this played a role in shaping the Russian way of life. Even before the communist rule, it is crucial to bear in mind that Russia had been under authoritarian rule for more than a thousand years. Even though it may be risky to generalize the cultural perspective on doing business in Russia based on these, this information ought to be appreciated as a point of departure in attempts to understand the unique micro and macro perspectives in doing business there. Considering its unique history, there are distinct cultural perspectives of doing business that anyone ought to consider before venturing into the Russian market. SWOT Analysis Strengths Production presence in Russia High brand reputation Supportive government policies in Russia Global presence and brand assortment Weaknesses High number of complaints and vehicle recalls Frail presence in the emerging markets Opportunities Intensification through acquisitions High uptake of ‘green automobiles’ Changing client wants Threats High costs for raw materials High competition from rival companies Varying fuel prices Product, Price, Promotion and Distribution Strategies ...Show more
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Name University Course Instructor Date Introduction Numerous foreign businesses have made inroads in the Russian market in the last two decades. Even with the economic decline that characterized the Russian economy in 1990s, interest in the Russian market never ceased as the collapsed businesses recovered with time…
International Marketing Strategy Report
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