International Management Table of Contents Introduction 3 Background 3 About the Company 3 Product Portfolio Mix 4 Analysis of Competitors 6 Corporate Strategy and Key Competence Areas 8 Response to Competition 10 Conclusion 11 References 12 Bibliography 13 Introduction Business environment in the twenty first century has been characterised by intense competition among the firms…
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The present study would analyse the business strategies of Toyota Motors Corporation with regards to achieving global competence. The study would specifically analyse the product offering and product based strategies of the firm and how these have been used by the firm to gain global competitive advantage. The choice of the organization assumes significance considering the fact that Toyota is one of the most formidable brands of the world and has a significant market share in the global car market. The company has a product offering that tends to offer the best products to the customers. It also has operations spread around major consumer markets of the world and is known for its operational and manufacturing excellence strategies. Background About the Company Toyota Motors Corporation is one of the most reputed car makers of the world. The automobile behemoth was established in the year 1937 and is presently one of the most formidable brands of the world with its stocks listed on the bourses of the US stock exchanges as well as Japanese stock exchange. The company is headquartered in Tokyo, Japan and has a capital worth 397.05 billion Yen as of 2010. The company has a total of 320,590 employees on active payroll as of March 2010. The main business area of the organization is in the areas of automobile production and sales. It has a multi product offering that helps in targeting a large number of market segments. The company is known for its innovations in product design and operational expertise that helps it to provide greater value to the customers (Toyota Motors Corporation, 2011). Product Portfolio Mix Toyota Motors Corporation is in the business of automobile manufacturing and sales and has a product offering that caters to almost all sections and segments. The company’s product offering includes cars that includes hatchbacks, sedans as well as luxury SUV’s, hybrid cars, trucks and commercial vehicles. The detailed products under the brand are provided in the table below: Table 1: Product Offering of Toyota Motors Corporation Cars Models Category Price (US $) Yaris Hatchback 13155 Corolla Sedan 15900 Matrix Hatchback 16700 Camry Sedan 20195 Prius Sedan 23520 Sienna Minivan 25060 Avalon Sedan 33195 SUV RAV 4 SUV 22475 FJ Crusiser SUV 25790 Venza Crossover 27125 Highlander SUV 28090 4Runner SUV 30305 Sequoia SUV 40930 Land Cruiser SUV 68920 Trucks Tacoma Truck 16365 Tundra Truck 24435 (Source: Toyota Motors Corporation-a, 2011) As evident from the table shown above Toyota has a very large product offering that helps it to cater to a large number of customer segments. The prices of the vehicles have been formulated in a manner that would help the firm to target a wide customer audience. On one hand there are highly priced SUV’s and hybrid vehicles as well as price friendly hatchbacks that help it to meet the demands of a large section of the customers. The company’s product strategy follows an innovative approach with focus on looks, design as well as engine capacities. The company has continuously modified its product offering with respect to the changing demands of the consumer audience. The company has made it a part of its vision to produce more hybrid and green vehicles that are environment friendly (Toyota
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“International Management Essay Example | Topics and Well Written Essays - 2000 Words - 1”, n.d. https://studentshare.org/macro-microeconomics/1426751-international-management.
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