The researcher states that every marketing plan has four dimensions in terms of product, price, place, promotion. Place regards to distribution network maintained by companies. Toyota emphasizes on just in time (JIT) inventory control and lean operation. Place plays an important role to create suitable lean operation across all the plants of Toyota. Supply chain management plays a pivotal role in maintaining a proper inventory function. Maintaining the first P (product) of marketing is the main problem for Toyota. Tsunami on March 11 has clearly impacted the car company, which has higher sales volume in Japan with respect to competitors like Nissan and Honda. The Japanese automobile company has projected a profit margin of $3.5bn for next 1 year which is almost fifty percent lower than previous year’s projection. The company will certainly lose its position as volume leader in terms of car production during 2011 and might fall behind General Motors and German player like Volkswagen. Analyst forecasted a drop of one percent in global sales for Toyota in the year 2012. The problem is regarding the production process of Toyota. They need to integrate supply chain network with production process to counterbalance the problem. Toyota fails to create quality in the production process and for this reason, they are struggling to earn the respect of value driven European customers. Toyota failed to create safety value associated with car model for customers. According to Kelley Blue Book, the value of used Toyotas is down by 3% and it will decline further 1.5% in near future. Sales volume Toyota Prius hybrid is declined due to low demand among customers. Retail price of the hybrid model has touched its nadir. The company has witnessed almost sixty percent drop in retail price due to poor value delivery process. Toyota cars lacks in safety, design and fuel efficiency. They need to upgrade value chain in production process (Bernstein, 2010).
Three Sources of Secondary Information
Reports created by government agencies or syndicated research association can be used as secondary data sources. Nielsen and Arbitron or any professional associations do research on automobile market and these data can be easily accessed by the car company. Authenticated census data can be collected from government websites like CIA. Customer behavior report can be accessed from report published by AC Nielsen or Boston consulting group or ZS associates. Research reports of American Marketing Association are publicly available and Toyota can use them to design a strong marketing information system. Many researchers use company websites to create secondary database. Research report of custom research firms can be used by the car company. Custom research firms publicize research report in news paper, magazines or other types of print medium.
Periodicals and books can be used as an excellent source for secondary knowledge. There are more than thirty books on integrated communication are available on website and they can be used to create strategic communication model by Toyota. Secondary research report created by vendors or independent companies can be used as data source.
Commercial data sources can be used by Toyota for secondary research. Many market research companies like A.C. Nielsen works on syndicated data. Research