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Contemporary issues in marketing - Essay Example
Pages 10 (2510 words)
Contemporary Issues in Toyota’s Marketing In the 21st century, changes in marketing strategies have been accelerating inevitably, more rapidly than the marketing revolution of 1960s. Successful business strategies for today’s business situations become completely irrelevant and inapplicable in a few years…
Several global companies have been designing marketing strategies since the wake of the 21st century technological development and the financial crisis in recent times, and some of them have actually survived the hard economic times. One of the companies that have had an outstanding market strategy in the 21st century is Toyota Motor Corporation. Toyota is one of the leading automakers in the world, with a wide range of vehicle models for its customers. The company’s sale in 2002 estimates around 6.17 million units worldwide. In addition, the company has more than 11 manufacturing affiliates and subsidiaries and 12 plants, 45 manufacturing companies with locations in 27 countries all over the world. One of the major contributing factors for the company’s success is its marketing communication strategies. Marketing communication include practices like advertising, packaging, publicity, public relations, sponsorships, sales promotion among others. Marketing Communication Toyota marketing communication strategy employs both product-led information and communication plan around specific vehicle brands, as well as corporate-led communication on its objectives in the industry. ...
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