Toyota Historical Sales Analysis
Toyota Corporation, which is considered to be one of the largest automakers in the world, started to function as Toyota Motor Corporation in 1935. The achievements of the company have always been followed by customers’ needs satisfaction. The analysis of the Corporation historical sales since 1937 has shown that the first stage of company formation was faced by complete crash and major losses. According to the annual reports overview dramatic losses suffered by Toyota Corporation in 1937 made about $7.7 billion being caused significant deterioration in sales in the whole Europe and in the USA; besides, the costs of raw material appeared to be much higher of expected ones.
In the period 1945-2008 the company managed to experience successful move to the international arena with rapid increase in sales growth. The production of innovative vehicles such as A1 and G1 allowed the company to become powerful and independent. With every passing year Toyota Corporation managed to create more compact and luxurious vehicles meeting the requirements of its customers. It should be noted that such lines as the T100, SUVs gained success among the publicity. Besides, the company started to product automobiles with full sized pickup and sport versions such as Camry and Scion.
It should be noted that Toyota Corporation managed to become the world leader according to sales growth and model lines it produces; high rate of quality control and production facilities is the principle index of the company world level among other automobile manufacturers.
Industry Analysis
Toyota Industries are focused on the concept of “just-in-time” supply chain which managed to revolutionize the company style, management and manufacturing system. Industrial approaches of the company are developed in accordance with centralized responsiveness and flexibility reached through its focus on producing smaller lots to meet the requirements of the customers.
Toyota managed to introduce innovative technologies of mass production covering different hybrid gas-electric vehicles standing out of all other automakers known in car industry. Toyota is also known for the production of Lexus and the Prius, which is considered to be the best selling world hybrid car.
Toyota which is considered to be the true leader of hybrid cars manufacturing, continues to take stable and competitive position on the international arena. Industrial success depends on the following aspects covered by the company strategic development:
- The development of exceptional people to observe the company philosophy;
- Continuous improvement and relentless reflection as the background of learning organization.
- Visual control
It is important to underline the fact that Toyota invested into the production of cleaner burning vehicles and RAV4 running on Hydrogen fuel cell. Being a multinational industry, Toyota Corporation managed to promote its hybrid brands becoming the most profitable company. Its rate of competitiveness on the international market is explained by company quick reaction to world market trends leading to global change of business environment. (Osono, E. & Hirotaka, 2008)
Toyota Marketing Mix
Toyota Corporation products make the basic element in company marketing mix because its vehicles provide functional requirements needed by the customers. An effective campaign of the company is carried out through its message strategy being perfectly though out; the development of strategic plans is usually based on the role of purchasing which is considered to be the result of stable and long term production of products with high quality.
The status of Multinational Corporation gives an opportunity to Toyota to promote its automobiles worldwide. Strategic plans developed annually are based on four major concepts contributing to successful promotion:
- Functional development;
- Design;
- Creativity and production;
- Sales. (The Toyota Production System, 2009)
Taking into account principle company philosophy and strategic thinking, one should state that Toyota’s success in product creation is also reached by means of life cycle assessment which is held systematically for the purpose of checking the vehicle effect on the environment; besides, environmental control of the production is considered to be the first step to company success and recognition. Toyota brand is promoted not only in automotive sphere; it is considered to be the part of Aircraft Corporation and Education system contributing to their development regularly. Company products are also aimed at bringing innovative technologies through creation of multitask robots aimed at entertainment, manufacturing and elderly care.
Toyota Marketing Mix in promotion and production is effectively developed and followed regarding every market trend and demand of the world market. (Hino, 2005)
Public Relations
Toyota Motor Company develops its public relations strategy on the basis of marketing communications integration. It means that the company introduces different types of public programs establishing strong contact with potential clients. One of the programs called Toyota Driving Expectations involves the participation of the community in activities aimed at defensive driving techniques and driving rules explanation in various non-standard road situations. (Toyota Driving School for Teens, 2009)
Toyota Company expresses deep care as to development of their PR campaigns that is why sometimes it may have some difficulties connected with internet advertising and communications with online community. Trying to protect its professional image and brand the company may face some illegal steps on the part of different websites making use of Toyota status. Nevertheless, the internet still continues to be one of the principle ways of Toyota communication with the publicity. (Jeremy, 2008)
The creation of innovative concept cars and GM vehicles which are not always available for purchasing the company decided to switch from its cooperation with newspapers editions, to be more exact to cut the frequency of this advertising type. The new focus of the company is advertorials through which Toyota strives to explore new options and ideas, though papers will be still in focus.
Toyota is also an active participator in charitable programs aimed at support of Universities and kindergarten; the company provides funding for students allowing them participating in universities programs and reach academic success. Constant trainings aimed at automobile technologies professionalism give an opportunity to stress that this company creates not only unique cars but provides a chance to people to get unique knowledge and skills. (Liker, & Meier, 2007)
Targeted Demographics
Toyota Motor Corporation pays close attention to targeted demographics; it actively participates in the development of mass appeal cars meeting the requirements of international customers. The sales of the company have recently jumped by 10 percent, and it is not a fixed result. It should be stressed that the sales are projected under the brands of Toyota and Lexus rising to 9 million vehicles annually.
Statistics of demographics system is a part of strategic development; Toyota Motor Corporation made use of baby boomer generation a target market spending the power of this generation. Analyzing the model row of company development it should be stated that Corolla creation was initial stage of demographics campaign followed by Celica identifying teen age of the generation and their paying capacity at that period. Than the model Camry was created followed by Lexus being accounted for people with discretionary income. This strategy of baby boom generation’s satisfaction appeared to be a well thought out step in company products promotion and PR. (Osono & Hirotaka, 2008)
Toyota Motor Corporation can be considered a powerful leader in automobile manufacturing sphere meeting the requirements of the time, technological development and world society.
References
Liker, J. & Meier, D. Toyota Talent: Developing Your People the Toyota Way. McGraw-Hill Professional. 2007.
Jeremy, D. Toyota Makes Massive Public Relations Error. Tundra News. 2008. Web.
Toyota Driving School for Teens. Creativity in Public Relations. 2009. Web.
The Toyota Production System. 2009. Toyota Website. Web.
Hino, S. Inside the Mind of Toyota: Management Principles for Enduring Growth. Productivity Press. 2005.
Osono, E. & Hirotaka, T. Extreme Toyota: Radical Contradictions that drive Success at the World’s Best Manufacturer. John Wiley & Sons. 2008.