The paper "A Marketing Plan for Toyota Cars in Australia" is a brilliant example of a term paper on marketing. This marketing plan is intended for Toyota cars in Australia being manufactured and distributed in the Australian market by Toyota Motor Corporation Australia Limited a subsidiary of Toyota Motor Corporation. This marketing plan will seek to identify the relevance of the mission, SMART objectives, and hierarchy of strategies for Toyota Australia in relation to its cars. The plan will also analyze the industry in which the products are being offered, to identify the market attractiveness through macro and micro-level analysis.
Finally, the paper will discuss the relevance of market research in the case of Toyota cars and describe the importance of segmentation, targeting, differentiation, and positioning of the products in the Australian market. This will be done under the respective headlines. Mission statement relevance The mission of Toyota Australia is to deliver outstanding products and services to its customers and enrich the community, partners and the environment (Toyota Motor Corporation Australia, 2013). Through the statement, Toyota promises its clients and customers of quality products and at the same time provides jobs, investment opportunities and care for the environment. SMART objectives A company’ s objectives must be well articulated so that the intended outcome can be achieved.
They need to be specific, measurable, attainable, realistic and timely (Walker, Gountas, Mavondo, & Mullins, 2011). Toyota Australia communicates its main objective through its mission statement; to become the most respected and admired company (Toyota Motor Corporation Australia, 2013). The company held a market share of 18% towards the end of the year 2011. Toyota recorded domestic sales of 181, 624 cars in 2011 raking in a revenue of $7.079 billion for 2013 (Toyota Motor Corporation Australia, 2013).
The corolla brand has recorded sales of 25,000 in Australia alone which is a 13% improvement from the same period last year according to the company’ s data ( Toyota Motor Corporation Australia, 2013). From the statistics, it is acceptable to conclude that Toyota has laid down SMART objectives that have enabled the company to achieve impressive performance in as far as market share, profitability, and sales volumes are concerned. Hierarchy of strategies A well-formulated strategy should have a scope, goals and objectives, resource deployments, identification of sustainable competitive advantage, and synergy.
A strategy is formulated at three different levels in organizations. However, in all the levels, it must have the above-mentioned attributes for it to serve the intended purpose (Walker et al, 2011). The three levels are: Corporate strategy This is at the level of senior management of an organization. It is at this level that the management decides the overall direction of the business in relation to its capacity and prevailing conditions. Toyota Australia is a subsidiary of the parent company Toyota Motors Corporation.