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Strategic Marketing Management - Book Report/Review Example

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STRATEGIC MARKETING MANAGEMENT: TOYOTA COROLLA, AUSTRALIA Abstract: The report provides a comprehensive analysis on the internal and external environment on the Toyota Corolla Australia…
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Download file to see previous pages It is tremendously important that the strategy that is developed is harmonizes with the external environment and complements the external environment. Toyota Corolla in Australia has been the top preferred brand for consumers since 2003-2004. They have regained market share and become the first in the automobile market. The situational analysis reveals that car has been the preferred brand among consumers in the age of 18 to 30. However, some of the newer models of the brand have had some negative reviews relating to the quality of the product. This can work in a bad way for the organization in the long run; Toyota Corolla is based on its branding and banks on its positive reviews and any negative publicity can harm the brand in the long run. The company should focus on hybrid models of Corolla so that they increase their share in their environmental friendly products. They should make sure that they focus on delivering their brand promise in all aspects, otherwise they will lose market share. Introduction: Organizations competing on the global front are faced with multitude of challenges in every aspect of their business. The management is expected to take sound tactical decisions that help them flourish on the regional front, complementing the global strategy as well. This defines an intricate web of decision making, flowing through layers of organizational authority. However, multinationals have now made their regional divisions more autonomous towards tactical decision making to eliminate the factor of time as competition is now based on timely provision of quality rather than just quality itself. On a regional front, tactical strategy can be best gauged by performing a comprehensive situational analysis of the organization. This includes a complete SWOT analysis, so that the strengths, weaknesses, opportunities and threats are all marked and understood. Strategic options can then be developed using these internal and external factors to fight in the market for the bigger share. The organization that has been chosen for the comprehensive SWOT analysis is Toyota, Australia. It is part of the bigger corporation and enjoys a big market share in the Australian market. The product that will be focused on, within their portfolio, is the Corolla. The report starts with the introduction of the organization and a brief history, outlining the major strengths and weaknesses after that. Continuing with the opportunities and threats, a comprehensive situational analysis is performed, marking strategic options for the company to follow through in the future. The conclusion provides the best strategy in the opinion of the writer out of all the possible options. Company Overview & History: The company under scrutiny is Toyota Australia, which is a subsidiary of Toyota Corporation, Japan. Toyota Motor Corporation Australia is a marketing organization for Toyota products; it also the responsible organization to provide Lexus in the Australian markets. The company today is being led by the visionary Max Yasuda; under his leadership, the organization has flourished through the tough times as the automobile industry fell prey to the recessionary economic cycle. The company was established in 1958; the establishment was as an importer when Toyota Land Cruisers were imported into Australia. There was no turning back after that, assembly of motor vehicles in the country started in about 1963. After that, a production plant was set up in Victoria and since then the organization ...Download file to see next pagesRead More
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