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Copy of Toyota

Mgmt 493
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on 22 January 2014

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Transcript of Copy of Toyota

Toyota
Blake Higginbotham
Brittany Richardson
John Tracey
Yashvi Gajjar
Vincent Fasano
Travis Curtner

Mission Statement
Toyota's Vision
Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and most responsibile ways of moving people.

Through our committment to quality, constant innovation and respect for the planet, we aim to exceed expectations and be reward with a smile.

We will meet our challenging goals by engaging the talent and passion of people, who believe there is always a better way.
History
1939
Research center established to begin work on battery-powered vehicles.
1936
The Toyota AA sedan was introduced.

1937
Incorporated as the Toyota Motor Co.
1960s and '70s
Rapid expansion, exporting large numbers of cars to foreign markets.
1982
Company took the name Toyota Motor Corp.
General Information
Officers:
Chairman: Fujio Cho
President & Representative Director: Akio Toyoda
To sustain profitable growth by providing the best customer experience and dealer support
Key numbers for FY2012 (first nine months)
Sales: ¥ 12,074,816M
Net income: ¥162,525M
Income growth:¥ 220,260
Competitors: Ford Motor, General Motors, Honda, Volkswagen AG, BMW GmbH, Mercedes, Nissan
SWOT Analysis
Strengths
Research & Development
Environmental technology
Safety Technology
Diversified Product Base
Owns Lexus & Scion, minority stakes in Subaru & Fiji
Passenger cars and SUVs
Mini Vehicles
Commercial Vehicles
Low Production Costs
Toyota Production System
Just-in-time
Weaknesses:
Lapses in product quality
Safety Recalls
Declining credit rating
Higher risk of default
Raised borrowing costs
Environmental hazards
Nickel Mining
Opportunities:
Increasing Demand for Hybrid Vehicles
Highlander Hybrid
Prius family
Lexus CT, HS, RX, GS & LS hybrids
Global Production Restructuring Plan
Increase production in emerging markets
Opportunities in Asian Market
Booming Chinese car market
Threats:
Competition in Global Automotive Market
Lower vehicle unit sales
Increased inventory
Increased Production Costs
Appreciating Japanese Yen
Competition with alternative fuel sources
HondaFCX Clarity runs on hydrogen. Nissan Leaf is completely electric.
TOWS Matrix
EFAS Table
IFAS Table
SFAS Table
Porters 5 Forces
1. Rivalry among competitors

High: competition in the auto industry is very strong
2. Threat of new entrants

Low: products within the auto industry require a lot of revenue and special attention. The auto industry is dominated by a few widely known firms, so entry into the industry is very difficult.
3. Threat of substitutes

High: when auto prices rise, there are many different substitutes for transportation. Walking, biking, taking a train and riding a bus would all be examples.
4. Bargaining power of suppliers

Low: there are many different suppliers for the auto industry. Cooling systems, breaking systems, and fuel supply systems are distributed through countless suppliers around the globe.
5. Bargaining power of buyers

Very High: the more informed a buyer is, the more bargaining power they have. Automobile buyers have easy access to information on how to purchase the right vehicle, thus the bargaining power of buyers is very high.
Strategic Implementation
2.
Invest more time and capital into research for compressed natural gas and hydrogen cell technologies in cars
Continuing to establish partnerships with companies that have the skills and technologies to pursue alternative fuel sources
Strategic Recommendations



3. We believe that Toyota should continue to develop processes that will increase the fuel efficiency and longevity of the vehicle.   One such process will be the implementation of start/stop technology in more of their cars
1. Invest more capital into cars that are targeted towards younger people

Focus on PR in order to gain back customer trust

Longer warranties

Advertising strategy targeted towards younger market
3. Focus on innovative transmissions. Expansion of monocoque frames in SUVs.

Start/Stop technology
Global Industry Trends and Conditions
Global Recession
Product/Market Maturation
Emerging Markets
Follow the leader
Fuel Efficiency is King
Hybrid's future uncertain?
Uncertainty breeds innovation
Smart phone vs. smart car
How many features is 'too many'?
2010 vs. 2011 Sales
2010 vs. 2011 Sales
1. Younger target market


2. Invest more time and capital into research for alternative fuel sources
What makes a young automobile buyer interested in a purchase?
CNW Marketing Research discovered that young car purchasers were primarily concerned with:
Low price
Good Value
Long Warranties
The average price for the segment purchases was $15,000.
Toyota’s Vehicles Aimed Towards the Young Demographic
The Yaris – starting at $14,115
The Prius C – starts at $18,950
Scions
The Yaris
The main vehicle for Toyota’s attempts to win the young target market segment
Faces competition from:
Kia Rio
Ford Fiesta
Hyundai Accent
Honda Fit
Chevy Sonic
The Toyota is losing the market compared to competitors
Currently Still Losing
Sales for the Yaris have decreased over 50% compared to last year
Honda’s equivalent to the Yaris, the Fit, has seen 32% sales growth in the same period
This is evidence that Toyota needs to do something to compete more effectively in this target market segment
Summary
Our strategy for Toyota is to:
Invest more time and capital into research for alternative fuel sources
Continue to develop processes that will increase fuel efficiency and longevity
Better target the young market segment of car buyers
Summary
Our strategy for Toyota is to:
Invest more time and capital into research for alternative fuel sources
Continue to develop processes that will increase fuel efficiency and longevity
Better target the young market segment of car buyers
Conclusion
We believe that our strategy is:
Consistent with Toyota’s mission
Well fit with current resources and capabilities
Relevant to external forces
Beneficial to stakeholders
Potential problems with our strategy are the increased costs and warranty liabilities of implementing the strategies – but we feel that our strategy will be effective regardless of the increased costs
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