Toyota - Marketing Strategies - Example

Toyota: Marketing Strategies (Name) (University) Toyota: Marketing Strategies Contents 1.0 Introduction 3 2.0 Objectives of the Marketing Plan 4 3.0 Major Marketing Problems 5 4.0 Background of the Organization 6 5.0 Organizational environment 7 6.0 Pestel Analysis 7 6.1 Technological 7 6.2 Political 8 6.3 Legal 9 6.4 Socio cultural 9 6.5 Ecological 10 6.6 Economic 10 7.0 Strategic Focus and Plan 11 8.0 Situation Analysis 12 8.1 Toyota SWOT Analysis 12 9.0 Market Segment 14 10.0 Product-Market Focus 15 10.1 Constructing a Strategic Focus 15 10.2 Goals and Objectives 16 11.0 Target Market 16 12.0 Company Position in the Market 17 Product Strategy 18 Pricing Strategy 18 1.0 Introduction The Toyota brand boasts of its fame as the leading automobile company and an innovative company at that (Davis, 2016). The company is principled to relate in the economic environment with a strict approach towards sustainability whereby the products developed are done with a thought for the future generation and reliability is ensured through production of quality and innovative merchandise. With the vision continuously be the best in the automobile industry, the company is incessantly focusing and implementing ways to position itself in such a way that gives the preeminent for the company. Among the aims of Toyota Australia and the whole Toyota brand is to proceed in great coordination with the community to which they serve, the economic atmosphere and the surrounding environment. The mantra within the management of Toyota Australia has been to put in its effort towards sustainability. This approach has seen the use of quality and inventive products to ensure that their final products and services ate sustainable. The vehicles thus made are essentially secure and dependable. In order to keep its market and additionally increase its market share, Toyota Australia has maintained the importance of its shareholders on all possible levels. The relationships with the local communities, customers and the workers in the Toyota community are treated with utmost value (Davis, 2016). The move however by Toyota Australia to stop manufacturing is one that may cost its business thus calling for a delicate marketing plan that will not only maintain their position at the top of the industry but also secure a future where they stand to keep growing in the automobile industry. The company requires a broad spectrum review of its operations and functions including its assets, strengths and limitations to favorably move forward. This paper thus seeks to analyze the marketing strategies of Toyota Australia and give recommendations based on the same. The subsequent section discusses the objectives of the marketing plan. 2.0 Objectives of the Marketing Plan The acronym SMART has been used by organization to help develop objectives that are helpful in the management of operations in an organization, improvement of the processes of development and the ultimate creation of a reputable company (Chaffey, 2015). Toyota Australia uses SMART in its operations as a company. The firm has a specific target of attaining the lucrative position of being the best sales and distributing automobile company in the whole of Australia and the globe as well. Given that it has previously in the same position through the manufacture of Toyota vehicles, the objective is feasible should they give the same dedication towards work as previously done in the manufacturing plant. The correct measure of the demand for automobile products, the specific requirements by customers and regard to the dynamic changes affecting the automobile industry play a huge part in shaping the objectives of Toyota Australia as a company. The aim of the company is thus to position itself as a sustainable sales and distributing automobile company that sells and distributes quality an innovative automobile products. To achieve this aim, the company would best ascertain a strong and healthy relationship with its distributors to ensure that they get the best products in the market. Secondly, the company should devise a publicity strategy that carefully explains the change from manufacturing, selling and distributing to simply sales and distribution of automobile products. Advertisement and including the latest forms of technology such as using the social media to promote its changed line of business is imperative (Kotler et al, 2015). The company would additionally seek a market segment and research on its requirements without basing on the assumption of the previous segments (Kotler et al, 2015). New research on the segment helps to evaluate possible changes that have taken place and order for the right products in accordance with the needs of their customers. 3.0 Major Marketing Problems Given the fact that Toyota Australia plans to stop manufacturing in the year 2017, the company is tasked with gearing to solely focus on sales and distribution. This change in the company is guaranteed to face various challenges which could be handled effectively should there be efficient marketing strategies. One of the pros of the company is that it has an established brand where people can still refer to and buy their products regardless of the fact that they are not the manufacturers. The decision to stop manufacturing can be interpreted in many ways by the public, the worst being a choice to stop buying from the company. Giving regard to the changed line of business that Toyota Australia is about to approach, getting a market huge enough to buy their automobile product would be a lesser challenge because it’s ascertained mark in the industry. The company and its parent company have most certainly been in the business long enough to have loyalty to the brand. The return on investment may however be a challenge for the first financial year as the company was also dependant on manufacturing (Toner and Stilwel, 2014). The company’s performance target has a boundary of achieving the financial aim set and maintaining the market share which has been at the best level. Restructuring of any company calls for intensive use of capital and this investment has to bear fruits for the company to maintain a modicum of stability. It is however difficult within the first year as all sections of the company struggle to get into line with the new structure. Among the most affected is evidently the sales and marketing team. The research needed to identify particular segments so that the wheels are set in motion for what products suit the segment requires time and precision (Armstrong et al, 2014). The team is further tasked with coming up with ways to make the product attractive to its customers and follow up on the same. 4.0 Background of the Organization The brand Toyota is a huge name that has imprinted its mark all over the globe. Toyota Australia is subsidiary company that is entirely owned by the parent company in Japan, Toyota Motor Corporation. This company came into being in the year 1958 when the land cruisers under the company name were imported to be used in the hydro electric scheme for the Snowy Mountains. By the year 1963, the Australian Motor Industries had begun assembling vehicles by Toyota at Port Melbourne. During this year, the production was limited to the Toyota Tiara. The brands have ranged from Corona, Crown, Corolla, Auirion to Kluger (Wada, 2015). The headquarters of the Australian company are located in Port Melbourne. The company has its manufacturing plant in Altona while the marketing operations and sales are supervised from Woolooware region in New South Wales. The main functional branches in Toyota Australia include; developing and selling, planning of the products and development, sales and marketing and giving of professional services. The sale of cars by Toyota Australia revolves around those both manufactured in the country and those that are imported. The buyers are from various segments, covering public and private divisions of the Australian society. A large and diverse workforce is employed by the company. Most of the employees work at the manufacturing plant (Wada, 2015). The export program for the company began in the year 1986. The first region to receive Toyota Australia products was New Zealand followed by Middle East ten years later. Currently, the firm exports vehicles that have been manufactured in Australia to regions such as Oman, Bahrain, Saudi Arabia, the United Arab Emirates and Qatar. The plant in Altona was opened in the year 1994 as a change from Port Melbourne site. Toyota Australia plant to stop manufacturing in the year 2017 and exclusively deal with sales and distribution. 5.0 Organizational environment The changes that Toyota Australia aims to put in place will affect the internal environment and might influence the performance of the company. The employees working at the manufacturing plant are bound to lose their jobs since that section of the company will no longer exist. The decrease in operations is anticipated to impinge on the engagement and relationship between the company and the shareholders. The dealers would be expected to extensively inform the customers of the new changes, where the current products will be coming from and assure them of their reliability as the products will no longer be manufactured by Toyota Australia. Any internal upheaval takes time to settle and may be met with resistance from the employees and dealers. 6.0 Pestel Analysis 6.1 Technological The automobile industry is largely technologically inclusive. The dynamic nature of technology therefore sets a challenge for the companies involved to keep up with improving the models of the vehicles. Innovations in car production on models that are fuel efficient and those that save energy have increased (Valadjkani and Smyth 2016). There is also the need for safety in vehicles. This is an avenue for companies to expand their businesses. Toyota Australia has experienced and is yet to experience technological impacts that are present in the automotive industry. Business is leaning towards electronic operations and this explains the need to upgrade from traditional systems of trading. Online activities have become widespread and due to the ease of communication provided over the platform then it has taken precedence over the traditional systems. Sales can be conducted online, consumers are able to view models over the web and through social media they can promote the company brand. Toyota additionally has an opportunity to install applications for their brands for mobile phones enabling their customers to access their services. Technology is however not foolproof as there exists the exposure to cyber crime. Cyber crimes have the potential to be very damaging thus calling for expert handling of the platform by the organization and installing good security measures. 6.2 Political Toyota Australia relies on the political situation of the country since it may manipulate its operations in the business. Australia boasts of a stable political environment. This has helped the company to run its business without the fear of losing profit and assets due to a political crisis. There is also the existence of free trade agreements in Australia that have reduced the obstacles to trade and investment by Australian companies. The result of these agreements is that Toyota Australia can get access to note worthy markets to trade with. The company is in a position to gain a competitive edge and the costs for importing products for sale and distribution will be reduced. The government of Australia supports eco friendly products. Toyota Australia has its main basis on the production of sustainable automobile products thus in line with this factor. The stability of the political avenue in Australia provides a chance for the company to operate under minimal tension. The opportunities of penetration into various markets are possible and there is a leeway to make products that are friendly to the environment and also satisfactory with the ecosystem’s requirements. The political environment is thus mostly favorable for the business operations of Toyota Australia. On the downside however, some policies by countries like Russia set to protect them from export prices may affect the trade by the company. 6.3 Legal Similar to other companies, Toyota Australia is faced with rules and laws that influence the running of the business. The increased undertakings of the processes of law and increased regulations call for extra attention and gathering of information on matters pertaining to the law that affects the company. Environmental laws have been made complex and they require to be followed carefully to avoid litigation. The production of the organization should not exceed what has been put in place by the laws. Of increasing importance are also the regulations on intellectual property. This is an advantage to Toyota Australia as it means their designs and ideas cannot be copied, forged or primarily stolen. The organization has however to be careful not to take another person’s or company’s idea since the repercussions are similarly dire. The laws surrounding consumers have also been made to protect them thus showing the need for the company to sell consumer friendly products (Valadjkani and Smyth 2016). 6.4 Socio cultural The socio cultural impacts on Toyota Australia cannot be ignores as they form the immediate environment that the organization has to research on and establish priorities and preferences. The increase in hybrid cars and the fancy that most individuals have taken to them is a fact that the company has to put mind when ordering for its cars from its distributors. Consumers want to drive the latest models with effective appliances. This is profitable for Toyota Australia as most automobile companies gear towards making cars that at better than the previous ones. There is however a gap that is increasing equating to consumers in the middle class declining. Consumer priorities have become more specific to imperative needs due to tight pecuniary situations. This fact is ongoing despite the lifestyle changes that have made having a car seem like a necessity (Naik and Ramesh 2013). One other consideration is that currently in most families there is no longer one provider. Having disposable income allows for the benefit of buying a car and other items that are not deemed as needs. Contributing trends including the popularity of environmental friendly vehicles and those that are efficient in conserving fuel are further demands being made upon the automobile industry. 6.5 Ecological As an automotive company, the ecological concerns in Toyota Australia should be high enough. Contemporary business practices advocate for sustainable business which includes taking care of the ecosystem. Toyota Australia is one company whose aim is set on sustainable development and as such their business has sustainable practices meant to maintain it in the future. The aspect of reserves of oil that have decreased is alarming hence creating the need for conservation through making cars that conserve fuel and developing other technologies that utilize other sources of energy. The issue of climatologically changes demands that the company provide more eco friendly cars. Waste is one other factor that needs consideration as it contributes to the damage of the environment. Treating of waste helps in conservation, and if possible recycling can be done. 6.6 Economic Factors surrounding the economic environment play a big role in the development and continuity of Toyota Australia. The influences of the economic environment apply both internally and externally. The restructuring of the company equates to more money being spent in the new sections that have been introduced. Aspects such as research of the target market require financial support and other spending of the overhead will influence the return on the investment in the company. The external economic environment surrounding the organization is imperative given the strength of the dollar particularly against the Japanese Yen where the company has its distributors. The growth of the economy in the United States is slow hence giving a chance to the company to establish its business there. Furthermore, there has been a swift growth in some developing economies where the organization would expand their business and thus their growth. The demand for vehicles has however gone down given the increased rate of unemployment. The priorities of most consumers are therefore not targeted towards cars, viewing them as a luxury. This fact has limited the target market for Toyota Australia. Nevertheless, most factors favor the economic growth of the organization as the trade and industrial environment are fit for business. 7.0 Strategic Focus and Plan There exist three broad categories of ways that are a center of focus for Toyota company when developing a marketing plot, and they include: 1 Company’s mission statement The company aims at creating a successful society through motor vehicle production (Hiroshu, 2003).Hence, the Company targets creating a stable long-term growth, by cordinating with other factors such as the economy, community, internal and external environment. 2 Goals The organization is committed to the provision of hybrid choices for each model sale.This option is used to aid the company to reach its goal of the sale of a million hybrid motor vehicles in a year.The company has managed to improve the Environmental Action Plan set in 2011.The plan commits the company to 6 identified areas; Quality Air, Management of the Environment, Climate and Energy changes, Recycling, Concerned Substance and Societal Cooperation. Toyota has made commitments to decrease emission of harmful gasses, and at such the entity observes the fuel economy values and strive to keep the environment clean at all times. 3 Main efficiency and Competitive Edge Toyota Company has achieved a stable global market by working to have a much better sustainable economy.Technological advancement and other related factors have been the cornerstone ofToyota company’s investments in numerous strategies that will help the entity to reach its set goals in a stated time frame. The entity has equipped a network of experts that are dedicated to spending time in research and come up with new developments of products that will ensure the company remains at the top.The ability to command a vibrant distribution network globally, enable the company to penetrate more markets. 8.0 Situation Analysis Toyota’s internal environment has seen the company emerge as the best in efficient production and quality service providers. This comprises how the manufacturing process is accomplished through strategic management team which has received universal acknowledgment for their aptitude.The team is under constant urge to achieve a more efficient and effective production.To comprehend the situation inquiry of the company, there is a need to determine the company’s Strength, Weakness, Opportunities and Threat 8.1 Toyota SWOT Analysis The SWOT analysis is categorized in factors affecting the company internally and externally.The Strengths and Weaknesses’ impacts are from the company whereas the Opportunities and Threats are factors that influence the company from outside, at such, they are external issues. To present this factors much better, the figure is drawn to explain the SWOT analysis of Toyota corporation. 8.1.1 Strengths Hybrid Technology By far, Toyota dominates the hybrid category, notably Toyota Prius, which has been in the present automobile market. Its presence in the automobile market, in comparison to its peers has seen it push beyond its original nice and become the best seller in the market (Tuttle, 2013). Evidently, Toyota has surpassed some of its competitors, Ford’ C-Max, Honda and Volkswagen, in this specific niche. It is evident that Toyota showcases improved hybrid technology in comparison to its competitors (Tuttle, 2013). Evidently, consumers are inclined to the plug-in vehicles such as all electric Nissan Leaf and Chevy volts, however when it comes to purchases, buyers are interested in the vehicles powered by gasoline. Weakness Recall of the Vehicles In recent past, Toyota has experienced recalls of major vehicles.In 2009 there was a recall of 7.3 million cars.The brand of Toyota was adversely affected by the recall and underwent huge financial loss.The recall was because of a given defects in the vehicle.The company must ensure such incidence do not reoccur.The emerging markets such as China and India has very low Toyota models.The company need to increase its presences in such economies. Opportunities. Eco-friendly Technology The Hybrid eco-friendly technology vehicles such as Toyota Prius gives Toyota company a good reputation.The company has sold the technology to competitors such as Ford with its new Explore SUV Hybrid.The company should develop on the advantage of toincrease market share .The number of models sold because of this new technology will increase the Toyota’s profits. Threats. Competition Toyota is facing fierce competition from other players.Volkswagen is rapidly growing almost on a daily basis.On the other hand, GM is becoming more competitive in the motor vehicle industry than ever.The company cannot stop this kind of competition, but it should be positively embranced.Toyota need to become more innovative and bring to the market new products. 9.0 Market Segment Toyota’s product consumers are diverse starting from individuals of low income to the wealthy.The consumers can be found worldwide, and the company has taken the necessary measures to attend to their varied needs through the provision of various vehicle models.The vehicles include sports cars, heavy commercial trucks, and family vehicles.The consumers are from different grounds and are categorized depending on their level of income, age, geographical basing, cultural and social standing. Each customer is attracted to Toyota brand based on own taste and choice.The rich will prefer an elegant, classy model that reflect their social standing.The low-income earners prefer mostly a cheaper model but which is efficient enough.Toyota company stand up to address and cater to all customers irrespective of their income. Clients buy Toyota products on a personal angle of preference and needs.In some instances, entities purchase vehicles to carry out their activities, sometimes they purchase for their employees employees.In such scenarios, the end user of the product is different from the purchaser.Such kind of business transactions, increase Toyota products exposure and the product is able to be viewed by many possible clients.The company, in an effort to increase product awareness, advertise, sends news letters to clients, have opened an interactive website that provides support to the consumers and also employs different techniques of promoting the brand.There is a window of the company to generate extra income through the sales of complimentary items like books and seminars. 10.0 Product-Market Focus In this segment, the explanation is clearly provided for the Company’s three years growth projections through different ways; goals and objectives, target market and positioning. 10.1 Constructing a Strategic Focus The firm throughout the years has employed product differentiation as the main approach of dominating the market; the strategy has and it is still producing outstanding results.The entity is resolute by applying pricing strategies that will create a competitive advantage in the market. One unit of Toyota is expensive to produce, but the company looks forward to reducing the cost of production further through mass production.The implications of reducing the cost of production will be that the entity will be able to lower its product prices and still make huge profits.Toyota is combining this strategy to provide affordable products to emerging economies. 10.2 Goals and Objectives Toyota’s expansive size and ability give the company an edge to meet industrial development.There is an increasing rate of consumers in need of motor vehicles globally; this is opening new windows of opportunities for Toyota brands to expand their markets.In this corporate age, there is an increased urge of individuals to own a car that will cater for their traveling needs.Toyota is well placed to successfully meet all this increasing demand because of the company’s huge resources. (Dobni, 2002, p.41). It is a rule of the business not to compromise on the value of the products, or be bend by the competitor’s pressure to increase the prices of the products, to make the consumers stick with the brand (Armstrong & Kotler, 2002).Every individual has an opportunity to discover the true values of Toyota by looking at the company’s past, present and maybe the future. (Armstrong & Kotler, 2003). Toyota is championing small stage to be applied in assembling various company’s models.The measure will ensure that the business cuts down the costs of production.The major competitors of Toyota especially Ford and GM have made improvement in their production operations, and this move by Toyota is to ensure that the company remains market leader (Mullins, Walker & Boyd, 2010). 11.0 Target Market It should be understood that Toyota produces different products targeting particular markets.The designing base on the conspicuous aspects likes the color of the vehicle, the outward appearance and the speed of the vehicle.The vehicles range from a smaller model targeting young and adventurous youths to a big model of vehicles for a family.The brand looks at the demographical aspects by manufacturing models targeting rugged landscape of rough roads and smooth surfaces of tarmacked roads (Thomas, 2001). In recent past, the American consumers launched their complaints to the Toyota company that their products did not have style as compared to their major competitors.To address the issue, the company has put pressure on its American stylists to make sure that the consumer’s needs are sufficiently met.The addition of more futures on the Primus, a hybrid model, was greeting by overwhelming sales volume in the America, than before the addition.There has also been a recent launching of a V8 pickup to address the American market demands. The company is offering competitors a rough time.The recent recalls have not deterred the company’s efforts to become a market leader.Based on how the market is positioned today, Toyota still has a high competitive edge, and it will remain a dominant brand in the market. 12.0 Company Position in the Market For a long time, the entity has been assembling automotive and other essential products that are easily accessible at affordable prices. This has been the main reason for the big market share the company enjoys.The company has set strategies to command more market in the coming years. Market Program The market program comprises four marketing-mix strategies, also known as four Ps.They have created to address the market needs and the capacity of the market to obtain the business’ goods and services. Product Strategy The product strategies concern with developing products, innovation and maintaining the products. Toyota Australia can implement a number of strategies to facilitate good product strategies that will ensure positive progress of their products. The strategies should aim at motivating the consumers to buy the product. That means that all aspects of the product should be put in consideration. Product Strategy deals with product development, product innovation & product’s maintenance. Some of the product strategy Toyota Australia could implement. The company can integrate a year maintenance of Hybrid Carry car to help the vehicle attract more consumers. Customers should be able to access a live support for their emergencies. Say, the company can have a vibrant 24-hour call center in the Capital city to attend to customer’s needs. The used Toyota cars can provide the Hybrid Synergy Drive Technology instead of buying new ones in the manufacturing process. In modern society people are much into the social media such as, twitter, Facebook and YouTube. The company should use the social media platform to reach out to the initial customers. While contacting the consumers, there is need to provide accurate and genuine information in a friendly manner.   Pricing Strategy Pricing is the integral part of business success. The numbers of buyers of a particular brand are determined by the pricing of that brand. The external and internal factors have a role in determining the price of the product too. Toyota company is recognized for providing high quality model at a fair price. The Toyota model prices might be put at higher than other brands. But some of the vehicle’s features such appealing interior and exterior of the vehicle and low consumption will be able to make the customers to buy the model. The cost of production can be brought down by reusing used cars’ parts, this will help the company to lower the prices of the product. To control prices and ensure that the product quality is not compromised, the company can remove many middle players. Some spare parts need to be out sourced from reliable suppliers which will in turn reduce the cost of production. Promotion Strategy The most effective way of marketing Toyota products, is to pay attention to the major issues that distinguish the brand from the competitors. The appropriate use of newspapers and channel news advertisement can be applied to disseminate news of the product to a wider audience. Take for instance, an advert with an emotional attached content like, ‘Australian Hybrid Vehicle-the First Ever’ will have a far reaching impact. The Australian consumers will feel inspired and develop a sense of pride. Those kind of promotion should be applied to make the consumers have a good feeling about the product. Still social media should be engaged to create awareness among the younger generation. Young generation spend considerable time on social media such as Facebook and twitter. Reaching them through this channels will be more effective and the information will be able to reach out to a larger geographical area in a short period of time. One good thing about use of social media is that it is cheaper to advertise as compared to print newspaper and corporate Television advertisement. The company will be sure to reduce cost of advertisement by using social media marketing The Promotional Budget Plan For 4 Months. Month Print Media ($). Radio and Television ($). Social Media ($). Websites Other marketing Events like Trade Shows ($). January 240000 160000 165000 35000 per Year February 15000 March 15000 April 45000 160000 Distribution Strategy Distribution strategy majorly refer to distributing the product directly or indirectly through a particular trader. The middle person eliminates cultural and social barriers and communication problem by creating positive environment. Toyota Australia products like Toyota Hybrid Camry, is prone to increase the price by introducing the number of middle persons. To reduce chances of the model to have a sharp increase in price, the model can be introduced in one city at a town before rolling up to the whole of Australia local market.  Recommendation Toyota Australia should undertake modification of some models. The Toyota Hybrid Camry should be made to be a bit smaller than it is. The company should harness the used cars and resell them to reduce the prices. Reducing the number of middle person in the distribution channel will help the company to get consumer’s feedback quickly. The company will also need to provide eco-friendly technology by working on R&D.   Implementation Plan. An intensive research should be undertaken to study the targeted market. Increased quality and profits should be the main driving force rather than raising sales volume. To achieve marketing objectives, there must be implementing of the recommendation. Because sometimes it is easier to come up with a good plan than implementing. Toyota company must be able to implement all that is recommended in the marketing strategy: Middlemen should be employed and given proper compensation to remove them completely in the market. All showrooms in Australia should have same pricing for same model of the Toyota vehicles. There should be continuous monitoring of the products’ quality and consumer’s feedbacks. A proper research and coming up with appropriate technologies that uphold the business ethics. Certain parts of used cars that are still in good condition should be integrated in production of a new cars to reduce costs. References Armstrong, G., Adam, S., Denize, S., & Kotler, P. (2014). Principles of marketing. Pearson Australia. Chaffey, D. (2015). How to Define SMART Marketing Objectives. Smart insights,[online] Available at: http://www. smartinsights. com/goal-settingevaluation/goals-kpis/define- smart-marketing-objectives/[Accessed: 1 March 2015]. Davis, T. (2016). Revolution on wheels: Will Australia be participant or spectator?. Griffith REVIEW, (52), 179. Kotler, P., Burton, S., Deans, K., Brown, L., & Armstrong, G. (2015). Marketing. Pearson Higher Education AU. Naik, H., & Ramesh, M. (2013). A study on impact of human resources management affecting business environment. Asian Journal of Research in Business Economics and Management, 3(4), 93. Toner, P., & Stilwell, F. (2014). Why does Australia need manufacturing industry?. Australian Options, (75), 21. Valadkhani, A., & Smyth, R. (2016). The effects of the motor vehicle industry on employment and research innovation in Australia. International Journal of Manpower, 37(4). Wada, K. (2015). Why did Toyota respond less quickly to globalisation?. Entreprises et histoire, (3), 134-154. Armstrong, G., & Kotler, P. (2002). Marketing: an introduction (International edition). New Jersey: Prentice Hall. Retrieved October 7, 2010 from http://www.pearsonhighered.com/educator/product/Marketing-An-Introduction-7E/9780131424104.page Armstrong, G., & Kotler, P. (2003). Marketing: an introduction. New Jersey: Prentice Hall. Retrieved October 7, 2010 from http://html-pdf-converter.com/en/convert?u=search-pdf-books.com/philip-kotler,-and-gary-armstrong.-marketing-management.-prentice-hall,-2003-download-pdf-free-pdf/ Dobni, B. (2002). A model for implementing service excellence in the financial services. Journal of financial services marketing , 40-42. Retrieved October 7, 2010 from http://www.palgrave-journals.com/fsm/journal/v7/n1/abs/4770071a.html Hiroshu O. (2003). Chairman’s message. Retrieved September 30th 2010, from the Toyota company website. http://www.toyota.co.jp/en/ir/library/annual/pdf/2003/chairmans_message_e.pdf Mullins, J., Walker, J. O., & Boyd, H. W. (2010). Marketing management: a strategic decision making approach. Boston: A McGraw-Hill Irwin. http://books.google.co.ke/books?id=u_UJAQAAMAAJ&q=Marketing+management:+a+strategic+decision+making+approach.+Boston:+A+McGraw-Hill+Irwin.&dq=Marketing+management:+a+strategic+decision+making+approach.+Boston:+A+McGraw-Hill+Irwin.&hl=en&ei=YZ2tTJD_JoOUOoLovc0F&sa=X&oi=book_result&ct=result&resnum=1&ved=0CDAQ6AEwAA Thomas, J. G. (2001). Business planning: long range and strategic management. Dublin: Black Hall Publishers Ltd. 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