Nobody downloaded yet

Strategic Marketing Management - Book Report/Review Example

Comments (0) Cite this document
Summary
STRATEGIC MARKETING MANAGEMENT: TOYOTA COROLLA, AUSTRALIA Abstract: The report provides a comprehensive analysis on the internal and external environment on the Toyota Corolla Australia…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.4% of users find it useful
Strategic Marketing Management
Read TextPreview

Extract of sample "Strategic Marketing Management"

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
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Strategic Marketing Management Book Report/Review”, n.d.)
Retrieved from https://studentshare.org/family-consumer-science/1410449-strategic-marketing-management
(Strategic Marketing Management Book Report/Review)
https://studentshare.org/family-consumer-science/1410449-strategic-marketing-management.
“Strategic Marketing Management Book Report/Review”, n.d. https://studentshare.org/family-consumer-science/1410449-strategic-marketing-management.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Strategic Marketing Management

Strategic Marketing Management

...?Strategic Marketing Management Table of Contents Introduction 3 The Importance of a Strategic Marketing Plan 4 Strategic Marketing Planning in the Sports Sector 4 Process for Designing a Strategic Plan 6 Corporate Mission 7 Corporate Objectives 7 Analysis of the Market Environment 7 External Environment Analysis 8 SWOT Analysis 11 Marketing Objectives 12 Marketing Strategies 13 Target Market Selection & Product Positioning 14 Action Plans 16 Reviewing and Controlling the Plan 17 Conclusion 17 References 19 Bibliography 21 Introduction...
12 Pages(3000 words)Essay

Strategic marketing management

...? Strategic marketing management Sony Corporation strategic marketing management Table of Contents Table of Contents 2 0 Introduction 4 1.1 Marketing strategy 5 1.3 Strategic Marketing and Corporate Strategy 6 1.2 Strategic marketing Planning Process 11 2.1 Situational Analysis 13 2.2 Strategic Planning Process: Sony Corporations 18 2.2.1 Political, Legal, and Regulatory Risk 18 2.2.2 Exchange and Repatriation of Funds Risk 19 2.2.3 Competitive Risk 19 3.3 Mission and Objectives 20 3.1 Defining and Formulating Marketing...
20 Pages(5000 words)Coursework

STRATEGIC MARKETING MANAGEMENT

...revealed that shares of company in the mature markets including UK have declined as compared to its shares in China. Therefore, in this report strategic management analysis of Lenovo has been done and a new product plan has been proposed based on chosen future growth strategy. 2.0 CORPORATE OBJECTIVES The mission statement of Lenovo has been given below: “Lenovo strives to be a new world company that makes award-winning PCs for our customers. We operate as a company uninhibited by walls or organizational structures using world-sourcing to harness the power of innovation across our global team. We design innovative and exciting products and services to meet our customers’ needs.”(Lenovo...
10 Pages(2500 words)Assignment

Strategic Marketing Management

...relationship is mainly concerned with establishing a good rapport between the organisation and the s so as to create loyalty among them (Strydom, 2004). The main problem with Hewlwett Parkard (HP) is that in Europe, it assigned four people from different departments to oversee the sales deals for the organisation while rival competitors like Dell only employed three people for the same task. This means that HP is slower to cut deals compared to the other competitors in the same field. The major problem bedevilling HP is that there are so many layers of management divisions in the organisation such that it becomes difficult for the customers to know exactly the person they can approach if they want to buy something. It...
3 Pages(750 words)Case Study

Strategic marketing management

...? STRATEGIC MARKETING MANAGEMENT Strategic Marketing Management The bad publi by the British press concerning Toyota’squality has resulted in the need to introduce essential marketing principles to maintain clients. The first principle that the company has had to put in place in the United Kingdom is differentiation whereby the company has been able to develop a relationship between itself and the consumers in the United Kingdom market through the use of corporate symbols, such as the company logo (Chaston 2009). In addition, the company began the use of promotions in a bid to understanding the needs of...
3 Pages(750 words)Essay

STRATEGIC MARKETING MANAGEMENT

...and unique brand personality model of brand management. Opportunities Create more strategic alliances and partnerships with educational organisations and associated institutes of higher learning Utilisation of social media to better engage consumer segments Digital marketing Threats Competitive promotional effectiveness Very high operational costs Consumer behaviour changes in the tourism sector High salaries paid to directors and managers in this industry 3.0 Marketing plan Based on all of the externally-driven threats and implications for the National Air and Space Museum, a competent marketing plan to improve revenue position and...
20 Pages(5000 words)Essay

Strategic marketing management: context

...of Marketing Science. Vol. 25: 2. p. 139-153 Zeithaml, V, Parasumaran, A and Berry, L 1988, "Communication and Control Processes in the Delivery of Service Quality" Journal of Marketing, 52. --------------------------------------- Berndt, R 2000, Innovatives Management. Springer. Blois KJ 1996, "Relationship Marketing in Organizational Markets - When is it Appropriate?” Journal of Strategic Marketing 4(3). p. 161-175. Buckley, R Pickering, C and Weaver, D 2001, Nature-based Tourism, Environment, and Land Management: Environment and Land Management. Cabi Publishing. Duncan, J Swayne, L...
8 Pages(2000 words)Essay

Strategic marketing management

...in the market, thereby maintaining the company’s competitiveness. The company tends to concentrates its resources towards the strategic business unit. These have been useful in ensuring that the company is competitive in all sectors. There are various Strategic Business Units which include; marketing research and product development units for food and drinks, information analysis unit, as well as catering services unit amongst others (David 2009 p 36). These have been useful in breaking down tasks, which would otherwise have been difficult for the organization to manage as one large department. Each unit has its own strategies of meeting its targets....
10 Pages(2500 words)Essay

Strategic Marketing Management

...Strategic Marketing Management Identify how an internal strategic audit can resultin an organisation better understanding its strengths and weaknesses. Notwithstanding size, the department of internal auditing can give profitable data to official administration by analyzing current practices of the organization, noting insufficiencies, and making relating proposals for remedial activity. (Fargason et al., 2014) Resource audit recognizes the assets or resources accessible to a business. Some of these can be possessed (e.g. apparatus, machinery and plant, trademarks, retail outlets) while different assets can be acquired through associations, joint wanders or just supplier courses of action with different organizations. (Riley, 2012... ...
6 Pages(1500 words)Essay

Strategic marketing management (examination)

...Strategic Marketing Management Strategic Marketing Management Q2. Why Corporate Culture Is So Hard To ChangeChanging corporate culture is usually difficult because it involve changing people. The problem arises from the fact that people are habitual. Consequently, every proposed change will often be counter by resistance by employees. Shifting the culture of an organization demands that employees unlearn old values, routines as well as assumptions and embrace new values, which they are not familiar with. It requires all employees to adopt new behavior, which is usually met with resistance making the change process difficult. Another...
4 Pages(1000 words)Term Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Book Report/Review on topic Strategic Marketing Management for FREE!

Contact Us