1-3 Journal Company Research and Selection

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1 1-3 Journal: Company Research and Selection Tina Gossett Southern New Hampshire University MBA-540: Org Strategy in Global Env Dr. Robert W. Robertson November 11, 2022

2 1-3 Journal: Company Research and Selection Company Overview The Fortune Global 500 company that will be the focused on over the next nine weeks will be Toyota Motor Corporation. Toyota Motor Corporation is headquartered in Toyota City, Aichi, Japan. The company is commonly knowns as (Toyota) to most individuals. Toyota was founded in 1926 by Sakichi Toyoda, “to manufacture and sell the automatic looms which he had invented and perfected” (Toyota Industries Corporation. , n.d.). Toyota is well versed in the manufacturing of automobiles. However, over the last several decades Toyota Industries has diversified and expanded their business to include a variety of automobiles, materials handling equipment, compressors, and electronics (Toyota Industries Corporation. , n.d.). The company produces automotive products that include minivans, cars, trucks, parts and accessories. Toyota’s tagline “Mobility for all” includes intelligent transportation systems, financial services, and robots (AVADA Commerce, 2022). Toyoda continues to be a leading automobile manufacturer around the world in over 170 countries. Customer Base Toyota Motor Corporation’s target customer base is centered around individuals with families. The Toyota brand offers a wide range of car models for everyone. Customers have the option of “a compact car for commuting to work, a fun sports car, or a family vehicle to safely transport your loved ones wherever they need to go” ( Toyota Car Models , n.d.). Toyota’s target market includes both male and female consumers. The largest demographic for the Toyota brand is “younger-to-older middle-aged consumers, in the 30 to 50 years bracket” ( Toyota target market analysis , 2022). The company sells a wide range of automobiles from a small car to large vehicles. Toyota markets to their top customer who is price sensitive. Therefore, they have

3 manufactured a wide variety of vehicles at different price points. They look for a top-rated vehicle at a reasonable price for their hard-earned dollar. Toyota’s average customer will drive their Toyota brand vehicle long term because of the reliability and quality of the vehicle. The brand name is popular in their home country of Japan and North America. The Toyota Motor Corporation sells vehicles in multiple countries around the world and continues to be a leader in the automobile industry.

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4 ( What is the organizational structure of Toyota Motor Company , n.d.) Obstacle Toyota may be a leading competitor within the automobile industry, but their company still faces major threats and obstacle like aggressive competition, rising fuel prices, and new entrants (Thompson, 2018). Today the average car is “equipped with more than 50 electronic control units, or ECUs, and uses as many as 1,000 chips” ( Toyota News #170 , 2021). Aggressive competition motivated Toyota’s to create automated driving, connectivity, and electrification to increase the company’s competitive advantage. With the capabilities of the internet and smart phones the automobile customers want to be connected while they are driving. Toyota is looking at the people-centered approach or “human connected” ( Toyota News #170 , 2021) and how to create the connected expansion. With the rising fuel prices, Toyota needs to provide more economical options for the consumer to purchase. Toyota will need to develop a line of automobiles that are more fuel efficient like a hybrid or electric vehicle option. If not, the company would be left behind the top competitors that are inventing new fuel efficient and environmentally friendly transportation. New entrants are also a major threat to Toyota. The company faces threats from larger automobile manufactures like the ones in China. China is slowly entering the same areas that Toyota sells products. The Chinese firms are able to compete with lower price and added value. Impact on Revenue or Market Share Toyota has taken action to lessen the impact on their company’s revenue and market share. The company has created a product-oriented management group to increase the overall business operations. The group will be addressing the consumers automobile preferences and technological demands. This step will decrease the threat of new entrants into Toyota’s

5 current market share, as the company manufactures new electrical vehicle and hybrid options for evolving customer base. Improvements in technology will increase product designs and improve automobile efficiency. As Toyota moves toward manufacturing a new electric vehicle (EV) that is more environmentally friendly it will start to increase market share. The company current market share is “just under 2% for EV’s, compared to nearly 14% for Tesla and over 11% for Volvo” ( Toyota target market analysis , 2022). New design features along with improved convertibility options will increase current customer satisfaction and increase awareness for potential customers. It is important for Toyota to keep their current customer base and create options for new consumers to want and gravitate towards. As Toyota increases their ability to provide new connect ability options, decrease fuel cost for the consumer, and deflect new entrants they will be able to expand their overall market share and grow the organizations revenue.

6 References AVADA Commerce. (2022). Toyota marketing strategy: The pride of Japanese quality? AVADA Commerce Blog. Retrieved November 7, 2022, from https://blog.avada.io/resources/toyota-marketing-strategy.html Carlier, M. (2022). Toyota Motor Vehicle Sales by region . Statista. Retrieved November 10, 2022, from https://www.statista.com/statistics/267314/vehicle-sales-of-toyota-by-region- since-2008/ Toyota target market analysis – toyota customer base, market segmentation & competitors . Start.io - A Mobile Marketing and Audience Platform. (2022). Retrieved November 11, 2022, from https://www.start.io/blog/toyota-target-market-analysis-toyota-customer-base- market-segmentation-competitors/ Thompson, A. (2018). Toyota external analysis: Opportunities & threats . Panmore Institute. Retrieved November 9, 2022, from https://panmore.com/toyota-external-analysis- opportunities-threats# Toyota Car Models . Toyota.com. (n.d.). Retrieved November 10, 2022, from https://www.toyota.com/cars/?srchid=SEM%3A700000001483657%3AMICROSOFT %3A71700000091326894%3A58700007725804926%3Ap70144278741%3A&gclid=c47f 55358356171d770636596623ff0a&gclsrc=3p.ds&msclkid=c47f55358356171d770636596 623ff0a&utm_source=bing&utm_medium=cpc&utm_campaign=BrandCategory_Car_T1 &utm_term=toyota+car&utm_content=BrandCategory_Car_Phrase Toyota Industries Corporation. (n.d.). History 1867 -: Toyota Industries Corporation . History 1867 - | Toyota Industries Corporation. Retrieved November 7, 2022, from https://www.toyota-industries.com/company/history/

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7 Toyota News #170 ｜ Toyota's key in software survival: In-house capability and real customer contact ｜ Toyota Times . TOYOTA TIMES. (2021). Retrieved November 9, 2022, from https://toyotatimes.jp/en/toyota_news/170.html Toyota target market analysis – Toyota customer base, market segmentation & competitors . (2022). Start.io - A Mobile Marketing and Audience Platform. (2022, Retrieved November 7, 2022, from https://www.start.io/blog/toyota-target-market-analysis-toyota-customer- base-market-segmentation-competitors/ What is the organizational structure of Toyota Motor Company . Toyota. (n.d.). Retrieved November 10, 2022, from http://automotorpad.com/toyota/477487-what-is-the- organizational-structure-of-toyota-motor-company.html

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