Understanding Business
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Chapter 13, Problem 1DCS
Summary Introduction

To discuss: The effective marketing mix for a new electric car or a brushless car wash for the neighborhood.

Introduction: The factors that go into marketing which are program, product, price, and promotion are termed as marketing mix. These are the basic elements of marketing.

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Could you explain and analyse the strategy for expanding across the world of Toyota in relation with the text  Thanks in advance  Pestle Framework   1. Political Factors Because of its global presence, Toyota is susceptible to a variety of international trade policies, like as tariffs and trade restrictions, which can have a considerable impact on the company's operations and profits. The United States automobile market might be disrupted, for example, by the imposition of tariffs on imports from countries such as Canada and Mexico. This would result in higher pricing for automobiles and a decrease in sales.   2. Economic Factors  The purchasing power of consumers and the demand for automobiles are both influenced by economic factors such as the expansion of the global economy, exchange rates, and inflation. There is a correlation between economic downturns and decreasing automobile sales, which can influence Toyota's revenue.    3. Sociological Factors  There have been substantial…
Can you analyse the strategy that Toyota is using to expand across the world.    Thanks in advance
Can you analyse the key strengths and weaknesses of Toyota's company , the main opportunities and threats it faces and the extent to which it has a sustainable competitive advantage. It will really help me with my understanding  (SWOT analysis, VRIO framework).  Thanks in advance
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