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Toyota Motor Company Marketing Plan - Research Paper Example
Pages 5 (1255 words)
Marketing Plan for Toyota’s Super Car Implementation Timetable December 2012: In order for a new product to be successful, it is necessary to conduct market research, be familiar with sales potential, cost, the distribution channels, the cost of promotion and the adequate promotion technique, conduct research and development and to have and know the engineering costs and requirements (Benedetto, 1999)…
January 2013: After the budget has been identified and team research tasks have been allocated, the teams will conduct their research and compile reports for top management and for marketing decisions and product management and decisions. At this point the planning stage begins. As Moorman and Miner (1998) inform, a marketing strategy beings with a “careful review of environmental and firm information” which is then followed by planning (p. 1). At this point all of the necessary research would have been completed and the budget identified for execution of the launch of the product. The month of January 2013 will therefore be set aside for planning marketing, production/manufacturing, promotion and distribution strategies and time tables will be established for each process. Teams will be formed for managing and putting these strategies into action. February 2013: At this stage, Toyota will have to appoint a design and mechanic team who will design and plan the mechanics of the super car respectively. The design team will plan and design the physical architecture of the car. The mechanic team will plan the engine and other mechanical functions of the car. ...