Toyota Motor Corporation is a Japanese multinational automobile manufacturer based in Toyota, Aichi, Japan. In March 2014, Toyota's corporate structure consisted of 338,875 employees worldwide and, as of October 2016, was the world's ninth largest revenue company. Starting in 2016, Toyota is the largest automaker in the world. Toyota was the first automaker in the world to produce more than 10 million vehicles a year, which it has done since 2012, when it also reported production of its 200 million vehicles. As of July 2014, Toyota was the largest listed company in Japan by market capitalization (worth more than double of # 2-ranking SoftBank) and revenue.
Toyota's marketing budget has been steadily increasing after the global economic and financial crisis of 2007 - 2009 in line with the overall trend in the automotive industry. Toyota's marketing strategy manages to strengthen the brand's partnership with the best practices of Japanese ways of doing things. Specifically, Toyota's marketing strategy focuses on marketing message marketing based on the efficiency of manufacturing and the use of excellent vehicles. A set of marketing communication channels such as print and media advertising, sales promotion, events and experiences, public relations and direct marketing techniques are used in an integrated way to send this message to the target customer segment.
Advertising
Print and media advertising is one of the core elements of Toyota's marketing strategy. The company uses newspapers, magazines, TV and radio ads, as well as advertising posters and posters to reach its target customer segment. As illustrated in Figure 7, in the United States alone the company's advertising spending volume reached USD 2.09 billion in 2014 and the largest proportion of this amount, USD 959 million was spent to produce and broadcast television commercials.
Toyota's advertising spending in the United States (in billions of dollars)
Toyota employs lifestyle-focused branding activities to promote the Lexus brand. The tagline for the global brand campaign "Amazing in Motion" has proven to be a very successful marketing movement. As a continuation of this campaign, Toyota has partnered with rapper will.i. I am "challenging conventional concepts of technology, design and music in a unique experience". The remix of the famous hit #thatPOWER of the rapper was created to highlight Lexus NX highlighted by complex laser technology.
Toyota viral marketing also plays an important role in raising the level of brand awareness and promoting specific company products. The list of Toyota's most successful viral marketing campaigns includes 'Jungle Wakudoki' and 'Beach Wakudoki', which features the synchronized dance of Japanese entrepreneurs in the jungle and the beach. The latest viral video 'Fueled by the Future', which is an imitation of Back to the Future: Part II movie 1985 has also proved to be very popular with Internet users.
Sale promotion
Toyota uses sales promotion as a marketing technique in moderation. The company maintains a dedicated "Offers" section on its official website where customers can find information on effective special offers in their regions by entering postal codes from their addresses. Toyota also manages military and college graduate discount programs for qualified customers ...
Toyota Motor Corporation Report contains a more detailed analysis of Toyota's marketing strategy covering Toyota's public relations issues, events and experiences and direct selling. The report also includes a SWOT application, PESTEL, the Porter Five Forces and Toyota Value Chain Analysis, along with an analysis of the company's approach to Corporate Social Responsibility (CSR).
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