Marketing Strategy Essay Example | Topics and Well Written Essays - 3000 words - 3

Marketing Strategy - Essay Example ed to dramatic recalls of many of its diverse products which are in sharp contrast to the brand-building efforts undertaken by the company to build trust in quality as it primary positioning strategy. These failures have been well-publicised. It is recommended that the business turn toward low-cost social media as a means of injecting transparency into the consumer market whilst also supplementing this strategy with heavier, short-term emphasis on promotion development. It is further recommended that the business seek out a new youth market, focus more on corporate social responsibility, and build an online CRM model that engages consumers more effectively. Toyota maintains strong internal competencies and a dedicated organisational culture with tacit and explicit knowledge that brings the business more efficiencies and this should be utilised as a promotional resource to rebuild trust in markets that now have questions about Toyota’s quality competency. Research has identified that Toyota conducts considerable market research on consumer characteristics in diverse markets to create localisation strategies which tends to outperform competitors that attempt to build homogenous marketing strategies. However, this is insufficient for improving its market position and requires adjustment in marketing focus. Toyota is currently positioned as a quality-focused organisation, giving it significant historical marketing advantages over its main competitors in the UK. However, in recent years, Toyota has been burdened with negative publicity associated with a variety of recalls in North America, Europe and Asia which sheds negative light on its quality measures. Coupled with economic problems in the United Kingdom stemming from the 2008 and 2009 recession, once-predictable consumer purchasing behaviours have changed, now making it difficult for Toyota to maintain its market share as price-sensitive consumers look for lower-cost automobile options. Toyota is an