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INTRODUCTION
The story of Toyota Motor Corporation began in September 1933 when Toyota
Automatic Loomcreated a new division devoted to the production of automobiles under
the direction of the founder's son, Kiichiro Toyota. Soon thereafter, the division produced
its first Type A Engine in 1934, which was used in the first Model A1 passenger car in
May 1935 and the G1 truck in August 1935. Production of the Model AA passenger car
started in 1936.
Although the Toyota Group is most well known today for its cars, it is still in the textile
business and still makes automatic looms(fully computerized, of course), and electric
sewing machineswhich are available worldwide.
Toyota Motor Co. was established as an independent company in 1937. Although the
founding family name is Toyoda, the company name was changed to:
Signify the separation of the founders' work life from home life;
Simplify the pronunciation, and
Give the company an auspicious beginning. Toyota is considered luckier than
Toyoda in Japan, where eight is regarded as a lucky number, and eight is the
number of strokes it takes to write Toyota in Katakana.
During the Pacific War the company was dedicated to truck production for theImperial
Army. Because of severe shortages in Japan, military trucks were kept as simple as
possible. For example, the trucks had only one headlight on the center of the hood.
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Commercial passenger car production started in 1947 with the model SA. In
1950 a separate sales company Toyota Motor Sales Co. was established
(which lasted until July 1982). In April 1956 the Toyota dealer chain was
established.
Toyota Motor Corporation is a multinational automaker headquartered in
Toyota, Aichi, Japan. In 2010, Toyota employed 317,734 people worldwide,
and was the world's largest automobile manufacturer in 2010 by production.
Toyota is the ninth largest company in the world by revenue.
PRODUCTS (GLOBAL):
1. AVALON
2. CAMRY
3. CAMRY SALORA
4. COROLLA ALTIS
5. MATRIX
6. PRIUS
7. 4RUNNER
8. HIGH RUNNER
9. LAND CRUISER
10. SEQUOIA
11.SIENNA
1.1. Toyota in Pakistan
Currently toyota has state of art technology and apply this technology in it'sproduct line as :
Electric technologyToyota is one of the largest companies to push hybrid vehicles in the market andthe first to commercially mass-produce and sell such vehicles, an example beingthe Toyota Prius. The company eventually began providing this option on the
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main smaller cars such as Camry and later with the Lexus divisions, producingsome hybrid luxury vehicles. It labeled such technology in Toyota cars as "HybridSynergy Drive" and in Lexus versions as "Lexus Hybrid Drive."
Lexus also has their own hybrid lineup, consisting of the GS 450h, RX 400h/RX450h, the LS 600h/LS 600h L, Lexus HS 250h and the Lexus brand's latest entry-level Lexus CT 200h.
CarsAs of 2009, Toyota officially lists approximately 70 different models sold under itsnamesake brand, including sedans, coupes, vans, trucks, hybrids, andcrossovers.[70] Many of these models are produced as passenger sedans, whichrange from the subcompact Toyota Yaris, to compact Corolla, to mid-size Camry,and full-size Avalon.[70] Vans include the Previa/Estima, Sienna, and others.[70]Several small cars, such as the xB and tC, are sold under the Scion brand.[
SUVs and crossoversToyota crossovers range from the compact Matrix and RAV4, to midsize Venzaand Kluger/Highlander.[70] Toyota SUVs range from the midsize 4Runner to full-size Land Cruiser.[70] Other SUVs include the Land Cruiser Prado and FJCruiser.
Pickup trucksToyota first entered the pickup truck market in 1947 with the SB that was onlysold in Japan and limited Asian markets. Toyota produces the Hilux in Standard
and double cab, gasoline and diesel engine, 2WD and 4WD versions. The BBC'sTop Gear TV show featured 2 episodes of a Hilux that was deemed "virtuallyindestructible".
Luxury-type vehiclesAs of 2009, the company sells nine luxury-branded models under its Lexusdivision, ranging from the LS sedan to RX crossover and LX SUV.[70] Luxury-type sedans produced under the Toyota brand include the Century, Crown Royal,and Crown Athlete.[70] A limited-edition model produced for the Emperor ofJapan is the Century Royal.
MARKET OVERVIEW
Since its start back in 1990, Indus Motor Company Ltd. has enjoyed the status of
leader because the name it is reproducing is of TOYOTA. Market of automobile
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in Pakistan is well established and it clearly states the self-actualization need of
Pakistani consumers. Before Indus Motor Company Ltd.s launch TOYOTA has a
well-built network of sales that was overtaken by Indus Motor Company Ltd.
Pakistani automobile market consist of Manufacturer like Indus Motor Company
Ltd. Honda Atlas Motors and Pak Suzuki Motors and Importer that are wide
spread in country in shape of dealers. To lead in this environment Indus Motor
Company Ltd. has extended its product line of COROLLA to six and is operating
a product mix of three categories.
Our most target markets are upper middle class, upper class, upper class,
government and resellers. They are executives, managers, businessmen,
landlords, politicians, dealers, government offices and armed forces. Here are
some details of market segments:
Government offices: Pakistani government is an important customer that is
known for their bulk purchase. Although government purchase almost all the
brands present in Pakistani automobiles but its attention towards Indus Motor
Company Ltd. has caused us to give special attendance to the government.
Armed Forces: Pakistani army has set a tradition of giving a TOYOTA vehicle to
its officers who cross the rank of Colonel. Before the launch of new COROLLA,
TOYOTA CORONA has served Pakistan Army for almost 20 years but now
Armed forces are purchasing COROLLA for this purpose.
Consumers: Our largest segment of market is consumers. Indus Motor
Company Ltd. is well aware of this fact that this is the segment that gives
feedback and value to our product because they are the ultimate buyers.
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Pakistan is a developing country and thats why consumers of TOYOTA are
upper middle class, upper class and upper class. These are executives,
managers, businessmen landlords and politicians. To meet the needs of middle
class Indus Motor Company Ltd. has acquired the production of DAIHATSU
Company and is producing CUORE that is proving to be another successive step
of Indus Motor Company Ltd.
Business Buyers: last but not the least is our business buyer who buys the
product for the sake of profit. It never disappointed us says a dealer.
Market Needs: Pakistan is developing a vast market of automobile that needs
proper placement of product. When someone enters in competition with Indus
Motor Company Ltd. they have to build quality products like COROLLA, HILUX
and CUORE, they have to establish a dealers network all over the country like
that of Indus Motor Company Ltd.s and have to care for the customers. These
are the ingredients that have helped Indus Motor Company Ltd. to meet market
needs.
Major Brands Competing with Toyota in Market:
The key competing brands contributing to the growth of the sector are discussed below.
Suzuki (Mehran)
Suzuki (Khyber/ Cultus)
Suzuki (Bolan)
Suzuki (Alto)
Honda (City)
Honda (Civic)
Daihatsu (Cuore)
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Suzuki (Swift)
Suzuki (Liana)
ORGANISTION STUCTURE OF THE COMPANY
Branding Strategy for Toyota
Branding: Indus Motor Company Ltd. has a license of
production from TOYOTA Motor Corporation Japan. Although it
is not mentioned in its financial statements but according to an
estimate TOYOTA has brand equity equivalent to $29 billions.
Recently Indus Motor Company Ltd. has extended its product
line by starting the production of COROLLA 2002. To extend its
products life cycle Indus Motor Company Ltd. has been
introducing innovations in last model of COROLLA but after a
long period of 9 years it was now needed that Indus Motor
Company Ltd. may introduce a new model. Also because Honda
Atlas introduced its CIVIC Prosmetic last year, the need for a
new car was boasted.
Toyota has factories in most parts of the world, manufacturing orassembling vehicles for local markets. Toyota has manufacturing orassembly plants in Japan, Australia, India, Sri Lanka, Canada,Indonesia, Poland, South Africa, Turkey, Colombia, the UnitedKingdom, the United States, France, Brazil, Portugal, and morerecently, Argentina, Czech Republic, Mexico, Malaysia, Thailand,
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Pakistan, Egypt, China, Vietnam, Venezuela, the Philippines, andRussia.
Toyota's net revenue by geographical regions for the year ended March
31, 2007Geographic region Total sales ( Yen in millions)Japan ----------------8,152,884North America --------------8,771,495Europe-------------------- 3,346,013Asia-------------------1,969,957Others ---------1,707,742
In 2002, Toyota initiated the "Innovative International Multi-purposevehicle" project (IMV) to optimize global manufacturing and supply systemsfor pickup trucks and multipurpose vehicles, and to satisfy market demandin more than 140 countries worldwide. IMV called for diesel engines to bemade in Thailand, gasoline engines in Indonesia and manual transmissionsin India and the Philippines, for supply to the countries charged with vehicleproduction. For vehicle assembly, Toyota would use plants in Thailand,Indonesia, Argentina and South Africa. These four main IMV productionand export bases supply Asia, Europe, Africa, Oceania, Latin America andthe Middle East with three IMV vehicles: The Toyota Hilux (Vigo), theFortuner, and the Toyota Innova.
Company strategy
Toyota's management philosophy has evolved from the company's originsand has been reflected in the terms "Lean Manufacturing" and Just In TimeProduction, which it was instrumental in developing. Toyota's managerialvalues and business methods are known collectively as the Toyota Way.
In April 2001 Toyota adopted the "Toyota Way 2001," an expression ofvalues and conduct guidelines that all Toyota employees should embrace.Under the two headings of Respect for People and ContinuousImprovement, Toyota summarizes its values and conduct guidelines with thefollowing five principles:Challenge
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Kaizen (improvement)Genchi Genbutsu (go and see)RespectTeamwork
According to external observers, the Toyota Way has four components:
Long-term thinking as a basis for management decisions.A process for problem-solving.Adding value to the organization by developing its people.Recognizing that continuously solving root problems drives organizationallearning.
The Toyota Way incorporates the Toyota Production System.
Logo and brandingEmployee at Toyota Museum explains development of Toyota name and brand
In 1936, Toyota entered the passenger car market with its Model AA and held acompetition to establish a new logo emphasizing speed for its new product line. Afterreceiving 27,000 entries, one was selected that additionally resulted in a change of itsmoniker to "Toyota" from the family name "Toyoda." It was believed that the new namesounded better and its eight-stroke count in the Japanese language was associated with
wealth and good fortune. The original logo no longer is found on its vehicles but remainsthe corporate emblem used in Japan.
Still, there were no guidelines for the use of the brand name, "TOYOTA", which wasused throughout most of the world, which led to inconsistencies in its worldwidemarketing campaigns.
To remedy this, Toyota introduced a new worldwide logo in October 1989 tocommemorate the 50th year of the company, and to differentiate it from the newlyreleased luxury Lexus brand. The logo made its debut on the 1989 Toyota Celsior andquickly gained worldwide recognition. There are three ovals in the new logo that
combine to form the letter "T", which stands for Toyota. The overlapping of the twoperpendicular ovals inside the larger oval represent the mutually beneficial relationshipand trust that is placed between the customer and the company while the larger oval thatsurrounds both of these inner ovals represent the "global expansion of Toyota'stechnology and unlimited potential for the future."]
The logo started appearing on all printed material, advertisements, dealer signage, and thevehicles themselves in 1990.
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Marketing
MEGAWEB, Toyota's permanent exhibition showroom and museum in Odaiba, TokyoUnited States advertising slogans
Toyota's marketing efforts in North America have focused on emphasizing the positiveexperiences of ownership and vehicle quality. The ownership experience has beentargeted in slogans such as "You asked for it! You got it!" (19751979), "Oh, what afeeling!" (1979 September 1985, in the US),"Who could ask for anything more?"(September 1985 1989), "I love what you do for me, Toyota!" (19891997),"Everyday" (19972001)", "Get the feeling!" (20012004), and "Moving Forward"(2004present).
PRODUCT STRATEGY
Worldwide acceptance of TOYOTA is proof of its best quality products. Indus
Motor Company Ltd. has stepped in this race in 1991 by producing COROLLA
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XE. Then it has continued innovations like COROLLA GL, Gli and 2.0D. At the
same time it acquired the ownership of manufacturing facility from DAIHATSU
and started the production of CUORE. The third category of production is of
carriage van that Indus Motor Company Ltd. is engaged with by producing
HILUX.
Idea: it is hard to tell that from where the idea has came but it is for sure that it
was generated seven years ago. As we have already mentioned its idea was
established in Japan and TOYOTA Motor Corporation Japan started the process
of idea generation, screening and testing somewhere in 1995.
Prototype Development: First prototype of COROLLA 2002 was developed in
1997 in TOYOTA Motor Corporation Japan. Than TOYOTA Motor Corporation
invited its customer for survey and testing and after progressive tests they started
its production in 2001 in Japan.
Worldwide Distribution: After start of its production in Japan, TOYOTA Motor
Corporation started the process of worldwide distribution and new COROLLA is
now being produced in 65 countries of world. As already mentioned, Indus Motor
Company Ltd. has got these rights in 2002.
Testing and Survey:There are 28 dealers in Pakistan of IndusMotor Company Ltd., of these provided test drive to their customersand for this they sent formal invitations. TOYOTA Multan Motors
Multans official says, We have never seen such a rush of people atTOYOTA and the important thing is that, whoever is coming to visitour showroom, he or she is going back satisfied and majority of
New COROLLA Design Concept: In an effort to appeal more the
Young at Heart people, the New Corolla is aimed at offering the
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Pakistani Customer with World-size Wheelbase and Height to
achieve more interior space, luxury and a sporty look. We call it
NCV. New Century Vehicle Many things in our life get bigger
as society and the environment change, or smaller as
technology advances. Toyota Engineers designed the Corolla by
setting aside conventional ideas such as, "This class of car
must be this size". Making the Corolla bigger was a natural
consequence of today's trends. Toyota used large dimensions
everywhere, and created an entirely new and attractive styling
for all people to love.
Product Mix: Indus Motor Company Ltd. is operating 3 product mixes
simultaneously; first is TOYOTA COROLLA that includes 6 models, second is
TOYOTA HILUX that includes 1 model of carriage van and the Third one is
DAIHATSU CUORE that includes 2 models of small economy cars. Indus Motor
Company Ltd.s product lines are consistent in so for as they are consumer
products that go through the same distribution channel and they perform same
functions for the buyer.
Support Services: Less expensive after sales services and high
resale value are considered the main augmentation of COROLLA.
Indus Motor Company Ltd. has a dealers network of 28 dealers
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spread throughout Pakistan with 3S (Sales, Service, Spare Parts)
network making the after sales services in reach of every customer
where ever they are. Indus Motor Company Ltd. offer a free checkup
and tuning during 1000 miles of purchase and a complete warranty of
1 year or 20,000 (which ever comes first)
Financial results
(Look from wikipedia)
In 2010, the Toyota ranked first in units produced globally, with
8.6 million units. (Market share based on OICA 2010 global total
of 77,743,862)[3] For the first half of 2011, Toyota had fallen to
third place, with GM first and Volkswagen second. The OICA list
is usually published in late July or early August of the following
year.
TOYOTAS PRICING STRATEGYAs already mentioned, target market of Indus Motor Company Ltd. is upper
middle class, upper class, upper class, government and resellers. Pricing plays a
vital role in success of any product. It should be reasonable enough to meet the
requirements of target customers and not reasonable enough to cut the profit of
manufacturers.
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Strategy: Internationally TOYOTA is using a pricing strategy that is a blend of
general pricing approaches i.e. cost based, value based and competition based
pricing. But the important and main approach is cost based pricing. Indus Motor
Company Ltd. charges their customer a price that is based on these three things;
Manufacturing cost
Taxes imposed by Government
Profit
Manufacturing cost is determined by company, taxes are imposed by
Government and profit is determined by the buyers value (determined by
surveys). It is worth mentioning here that high taxes from government of Pakistan
also cause the price to accelerate.
While launching a new product Indus Motor Company Ltd. comes into market
with a premium strategy + penetrating price with respect to its major competitors.
There is a difference of almost 100,000 in TOYOTA COROLLA 2.0D Saloon and
HONDA CIVIC VTI ORIEL Prosmetic. This surely gives TOYOTA a competitive
edge upon its competitors of same category. As we know that price is the most
flexible P of Marketing but this is not applicable in case of COROLLA, because
Indus Motor Company Ltd. keeps its prices same and the change in prices
occurs only due to the change in some government policy.
In Pakistan Indus Motor Company Ltd. is in operation with an
FOB-origin Pricing. Along with the Ex-Factory price customer is
supposed to pay the freight charges from factory that is located
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at Port Qasim Karachi to their destination. Indus Motor Company
Ltd. has priced its product line of COROLLA according to the
quality they offer in different models. Following are the prices of
COROLLA 2002.
PROMOTION STRATEGY
Name of TOYOTA is as much established that it does not require much
efforts in promotions. But Indus Motor Company Ltd. has tried to changeits promotional plan for COROLLA 2002 from prestige and luxury topassion and style. Passion is the major emphasis of our promotionalplan for this car. If you have passion, you deserve this car says Mr. AsifAleem of Indus Motor Company Ltd. regional office Islamabad.
Advertising: For the first time in Pakistan Indus Motor Company Ltd. haslaunched an ad on Television. This ad too supports the statement of Mr.Asif Aleem. Purpose of this ad was just to give the viewer an idea thatTOYOTA has produced something new and to establish curiosity inviewers mind. A newspaper is another media Indus Motor Company Ltd. isusing for the promotion of COROLLA 2002. Indus Motor Company Ltd.s
annual report states that it has increased the budget for advertising byalmost 30% during 2002 to meet the requirement of launching a newproduct. For the year 2001 advertising and sale promotions budget figure
was 38 million that became 48 million in 2002.Sales Promotion: Normally no sales promotions are done by Indus MotorCompany Ltd. because TOYOTA has established a widespread communityof its customers who are loyal to it. At the time of purchase, customer isgiven a survey form that is to be filled by customer and sent directly toIndus Motor Company Ltd. By doing this customer are entitled an entry inthe draw of free services worth Rest. 5000.Public Relations : Quality of TOYOTA causes its customer to be loyal to the
brand. When our team surveyed the consumers, no one has produced suchremarks that may be supposed negative. Every of its customer appreciatedthe qualities offered in COROLLA 2002.Launch : At the time of launching of COROLLA 2002 Indus Motor CompanyLtd. and its dealers took some exclusive steps for promotion of new car.On March 02, 2002 it was launched in Karachi in a ceremony held by IndusMotor Company Ltd. Apart from this all the dealers arranged a 15 dayfestival at their outlets for the promotion. They collected data of all the
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customers during past 7 years and issued invitations to them. During those15 days every dealer in Pakistan provided test drive to the visitors. Some ofthe dealers in Pakistan are still providing test drive to their visitors.
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PLACING STRATEGY
Indus Motor Company Ltd. has the strongest network of dealership inPakistan. It has 28 dealers throughout Pakistan who perform all thefunctions of distribution channels i.e. Information, Promotions, Contact,
Matching and Negotiations. Indus Motor Company Ltd. delivers the productto consumers using an indirect channel of distribution which is as under:
Indus Motor Company Ltd. Dealers Customers
During the year 2001 some 148,000 vehicles were serviced at dealersoutlets and this number increased to 185,000 in year 2002. Through itsstrong dealers network, Indus Motor Company Ltd. has made theavailability of genuine spare parts possible all over the country at acontrolled price.Following is the distribution of dealers all over the country:
Area Number of DealersSindh 8Punjab 12N.W.F.P 3Balochistan 1Islamabad (Capital) 2Azad Kashmir 1
For physical distribution Indus Motor Company Ltd. has developed aLogistic system that performs the following functions as an attempt tomaximize customer satisfaction.
Order Processing Warehousing
Transportation
Indus Motor Company Ltd. and dealers perform these functions forcustomers.
SWOT ANALYSIS
Strengths:1. Price2. Dealers network3. Safety4. Sporty Look5. 1 year/20000 mile warranty6. Resale Value7. Status Symbol
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Weaknesses:1. Full Payment on Booking2. Long time of Delivery3. Payment of Delivery Charges by customers4. Change of Price applicable to Undelivered Vehicle
Opportunities and Threats:1. Competition Opportunity/threat2. Economy of Country Threat3. Availability of Imported vehicles Threat4. Decrease of Taxes by government on imported vehicles
Threat5. Acquisition of DAIHATSU Opportunity6. Incorporation of Made in Pakistan Automobiles Threat7. Leasing facility Opportunity8. Customer loyalty Opportunity
Conclusion:
Image of TOYOTA is of a companion in its customers minds. People say that wedo not buy this car because of its durability, status, safety or reliability; we buy itbecause of TOYOTA. Simply saying, people of Pakistan trust TOYOTA to adegree that if TOYOTA launches a cart, people will buy it without hesitation.Availability of cars all over the country, less maintenance expenses, resale valueand status representation are some values that are helping TOYOTA to buildsuch a long lasting relationship with its customers.
Recommendations:
GENERIC STRATEGIES relation to Toyota
Generic strategies were used initially in the early 1980s, and seem to be even more
popular today. They outline the three main strategic options open to organization that
wish to achieve a sustainable competitive advantage. Each of the three options are
considered within the context of two aspects of the competitive environment:
Sources of competitive advantage -are the products differentiated in any way, or are they
the lowest cost producer in an industry?Competitive scope of the market - does the
company target a wide market, or does it focus on a very narrow, niche market?
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Cost Leadership
The low cost leader in any market gains competitive advantage from being able to many
to produce at the lowest cost. Factories are built and maintained; labor is recruited and
trained to deliver the lowest possible costs of production. 'cost advantage' is the focus.
Costs are shaved off every element of the value chain. Products tend to be 'no frills.'
However, low cost does not always lead to low price. Producers could price at
competitive parity, exploiting the benefits of a bigger margin than competitors. Some
organization, such as Toyota, are very good not only at producing high quality autos at a
low price, but have the brand and marketing skills to use a premium pricing policy.
2. Differentiation
Differentiated goods and services satisfy the needs of customers through a sustainable
competitive advantage. This allows companies to desensitize prices and focus on value
that generates a comparatively higher price and a better margin. The benefits of
differentiation require producers to segment markets in order to target goods and services
at specific segments, generating a higher than average price. For example, Toyota
differentiates its product and service. The differentiating organization will incur
additional costs in creating their competitive advantage. These costs must be offset by the
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increase in revenue generated by sales. Costs must be recovered. There is also the chance
that any differentiation could be copied by competitors. Therefore there is always an
incentive to innovated and continuously improve.
3. Focus or Niche Strategy
The focus strategy is also known as a 'niche' strategy. Where an organization can afford
neither a wide scope cost leadership nor a wide scope differentiation strategy, a niche
strategy could be more suitable. Here an organization focuses effort and resources on a
narrow, defined segment of a market. Competitive advantage is generated specifically for
the niche. A niche strategy is often used by smaller firms. A company could use either a
cost focus or a differentiation focus. With a cost focus a firm aims at being the lowest
cost producer in that niche or segment. With a differentiation focus a firm creates
competitive advantage through differentiation within the niche or segment. There are
potentially problems with the niche approach. Small, specialist niches could disappear in
the long term. Cost focus is unachievable with an industry depending upon economies of
scale e.g. telecommunications.
1.4 S.W.O.T ANALYSIS
Strengths
New investment by Toyota in factories in the US and China saw 2005 profits rise, against
the worldwide motor industry trend. Net profits rose 0.8% to 1.17 trillion yen ($11bn;
5.85bn), while sales were 7.3% higher at 18.55 trillion yen. Commentators argue that
this is because the company has the right mix of products for the markets that it serves.
This is an example of very focused segmentation, targeting and positioning in a number
of countries.
In 2003 Toyota knocked its rivals Ford into third spot, to become the World's second
largest carmaker with 6.78 million units. The company is still behind rivals General
Motors with 8.59 million units in the same period. Its strong industry position is based
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upon a number of factors including a diversified product range, highly targeted marketing
and a commitment to lean manufacturing and quality. The company makes a large range
of vehicles for both private customers and commercial organisations, from the small
Yaris to large trucks. The company uses marketing techniques to identify and satisfy
customer needs. Its brand is a household name. The company also maximizes profit
through efficient manufacturing approaches (e.g. Total Quality Management).
WEAKNESS
Being big has its own problems. The World market for cars is in a condition of over
supply and so car manufacturers need to make sure that it is their models that consumers
want. Toyota markets most of its products in the US and in Japan. Therefore it is exposed
to fluctuating economic and political conditions those markets. Perhaps that is why the
company is beginning to shift its attentions to the emerging Chinese market. Movements
in exchange rates could see the already narrow margins in the car market being reduced.
The company needs to keep producing cars in order to retain its operational efficiency.
Car plants represent a huge investment in expensive fixed costs, as well as the high costs
of training and retaining labour. So if the car market experiences a down turn, the
company could see over capapacity. If on the other hand the car market experiences an
upturn, then the company may miss out on potential sales due to under capacity i.e. it
takes time to accommodate. This is a typical problem with high volume car
manufacturing.
OPPURTUNITIES
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Lexus and Toyota now have a reputation for manufacturing environmentally friendly
vehicles. Lexus has RX 400h hybrid, and Toyota has it Prius. Both are based upon
advance technologies developed by the organization. Rocketing oil prices have seen sales
of the new hybrid vehicles increase. Toyota has also sold on its technology to other motor
manufacturers, for example Ford has bought into the technology for its new Explorer
SUV Hybrid. Such moves can only firm up Toyota's interest and investment in hybrid
R&D.
Toyota is to target the 'urban youth' market. The company has launched its new Aygo,
which is targeted at the streetwise youth market and captures (or attempts to) the nature
of dance and DJ culture in a very competitive segment. The vehicle itself is a unique
convertible, with models extending at their rear! The narrow segment is notorious for itnarrow margins and difficulties for branding.
THREATS
Product recalls are always a problem for vehicle manufacturers. In 2005 the company had
to recall 880,00 sports utility vehicles and pick up trucks due to faulty front suspension
systems. Toyota did not give details of how much the recall would cost. The majority of
affected vehicles were sold in the US, while the rest were sold in Japan, Europe andAustralia.
As with any car manufacturer, Toyota faces tremendous competitive rivalry in the car
market. Competition is increasing almost daily, with new entrants coming into the market
from China, South Korea and new plants in Eastern Europe. The company is also
exposed to any movement in the price of raw materials such as rubber, steel and fuel.
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DATA ANALYSIS
4.1 PERCENTAGE OF TOYOTA OWNERS
OWNERS OF TOYOTA
YES
24%
NO
76%
YES
NO
Figure 1.3
INFERENCE:
24% of the respondents were owners of Toyota
76% of the respondents were owners of Honda, Maruti Suzuki, Tata, etc
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4.2 CUSTOMER SATISFACTION RATING
CUSTOMER SATISFACTION
83%
17%
SATISFIED
DISSATISFIED
Figure 1.4
INFERENCE:
83% of the Respondents were satisfied with their cars and the services of
TOYOTA
However 17% of the Respondents were dissatisfied at the same time.
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4.3 PREFERENCES OF BUYING A NEW CAR
0
10
20
30
40
TOYOTA HYUNDAI MARUTI HONDA
PREFERENCES OF BUYING A NEW CAR
Figure 1.5
INFERENCE:
19% of the respondents would prefer to buy a Toyota car against its competitors.
38% of respondents preferred for Maruti.
19% and 24% respectively preferred for Hyundai & Honda.
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4.4 WHERE DO YOU MANAGE TO FIND INFORMATION ABOUT
TOYOTA
INFORMATION ABOUT TOYOTA
12%
20%
13%
55%
DEALERS
PRINT MEDIA
T.V.
INTERNET
Figure 1.6
INFERENCE:
Information through Internet and Print media accounts for more than half or 75%
of the information shared with the masses.
Rest 25% was shared by T.V. and Dealers for providing the information.
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4.5 TOYOTA CARS HAS THE MOST FUEL EFFICIENCY
FUEL EFFICIENCY OF TOYOTA
78
22
0
20
40
60
80
100
YES NO
Figure 1.7
INFERENCE:
78% of the respondents felt that Toyota has the most fuel efficiency.
While 22% felt it isnt the most fuel efficient.
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4.6 THE FEATURES OF TOYOTA AS COMPARED TO OTHER CARS
FEATURES OF TOYOTA
70%
10%
8%
12%
GOOD
VERY GOOD
NOT SO GOOD
SATISFACTORY
Figure 1.8
INFERENCE:
70% of the respondents felt that the features of the Toyota are good.
While 8% of respondents thought it was not so good, 10% thought it was very
good and 12% felt satisfactory about the features.
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4.7 THE QUALITIES THAT BEST DESCRIBES TOYOTA
FEATURES THAT BEST
DESCRIBES TOYOTA
15 18
38
29
0
10
20
30
40
HANDLING FUEL
EFFICIENCY
DESIGN COMFORT
Figure 1.9
INFERENCE:
Toyota is best known for its design & comfort.
Then comes Handling and Fuel Efficiency.
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4.8 HOW DO YOU FIND THE INTERIORS OF TOYOTA
INTERIORS OF TOYOTA
74%
16%
3%7%
GOOD
VERY GOOD
NOT SO GOOD
SATISFACTORY
Figure 1.10
INFERENCE:
The interiors of Toyota are very good according to 74% of the respondents.
16% said it was very good, 7% said it was satisfactory and 3% felt it was not so
good.
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4.9 WHAT SHOULD BE DONE TO IMPROVE TOYOTA ?
WHAT SHOULD BE DONE TO
IMPROVE TOYOTA
72%
15%
13%
MAKE IT MORE
AFFORDABLECHEAPER SPARE
PARTS
MORE SERVICE
STATIONS
Figure 1.11
INFERENCE:
If Toyota is made more affordable then it would win more customers, a
theory which was backed by 72% of the respondents.
15% and 13% respectively want cheaper spare parts and more service
stations.
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4.10 WHAT SHOULD BE DONE TO MAKE TOYOTA THE BEST CAR
WHAT SHOULD BE DONE TO MAKE
TOYOTA THE BEST CAR
6015
10
15
MAKE IT MORE
FUTURISTIC
MAKE IT MORE
SPORTY
GIVE IT A RETRO
LOOK
GIVE IT A
CONCEPT CAR
LOOK
Figure 1.12
INFERENCE:
To make it the best car in its class it should be made more futuristic
which was felt by 60% of the respondents.
15% of the respondents thought it should be made more sporty.
10% wanted it to have a retro look and 15% wanted to give it a concept
car look.
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4.11 ARE YOU HAPPY WITH THE AFTER SALES SERVICES
PROVIDED BY TOYOTA
HAPPY WITH AFTER SALES
SERVICES PROVIDED BY TOYOTA
85%
15%
HAPPY
UNHAPPY
Figure 1.13
INFERENCE:
Overall 85% of the respondents were happy with the after sales service
provided by Toyota.
15% were unhappy with Toyota due to poor after sales services provided
by them.
Comparison of major competitors
Honda and Toyota
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Which automobile people will prefer is a major question in today's world for companies.
Reasons for higher TOYOTA share in market as compared to HONDA
9. Which car you drive for yourself?
Toyota Honda Both None
10. Which automobile company would you prefer to travel?
Toyota Honda Both None
11. Whose products are more often seen on roads?
Toyota Honda Both None
12. Whose products are more stylish?
Toyota Honda Both None
13. Whose looks are more luxurious?
Toyota Honda Both None
14. Who do you think is more reliable to travel?
Toyota Honda Both None
15. Which automobile do you think has more resale value in the market?
Toyota Honda Both None
16. Which companys service centers are more in numbers?
Toyota Honda Both None
17. Whose products are more environments friendly?
Toyota Honda Both None
18. Whose interior is more attractive?
Toyota Honda Both None
19. Toyota spare parts are readily available in the market?
Agree Disagree No idea12. Do you think that Toyota products are more economical than Honda?
Agree Disagree No idea
20. People prefer Toyota because of its variety of models?
Agree Disagree No idea
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21. People prefer Toyota because of its diesel engine?
Agree Disagree No idea
22. Shock problem rumor of Honda is a hurdle in its market share?
Agree Disagree No idea
23. Toyota market share is more because it is targeting low income group andHonda does not?
Agree Disagree No idea
24. Do you think that brand loyalty of Toyota is more than Honda?
Agree Disagree No idea
25. Do you prefer Toyota because of its color range?
Agree Disagree No idea
26. Toyota offer better engine efficiency than Honda? Agree Disagree No idea
27. Which will you recommend HONDA/TOYOTA and why?____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
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QUESTIONNAIRE ANALYSIS
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WHICH CAR YOU DRIVE FOR YOURSELF?This question has been taken as the filter question for the research purpose. As we are
finding the reasons that why the Toyota share is more than Honda so before getting anyopinion from our respondents we need to know whether that person is using any of thesetwo cars or any other. If that person isnt using any cat than its opinion will not be worthy
because he might be ignorant about the cars. All the opinion given on the questionnaireby that person will be based on the guess work that will not truly be real information thatwe need. So if any person who has driven the car will be asked to fill the questionnaire sothat the information we get through will be really based on the truth basis.
OPTIONSWe have given the options as follows
Toyota Honda Both None
A person can be a user of Toyota products or Honda or he might have used both. The lastoption NONE will give two motions i.e. the person might be using any other companysproduct or he might havent used any car yet. If he is a user of both then his informationwill be real critical one because he has used both and will have real experience.
GRAPHICAL REPRESENTATION
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WHICH AUTOMOBILE COMPANY WOULD YOU
PREFER TO TRAVEL?This question is added in the questionnaire so that we get the intention that whichautomobile companys people will like to prefer to travel. This will tell us in real sense
that if the people who are driving other automobile products can express that whetherthey like Toyota or Honda. That person might be using any other companys productbecause of any reason but internally he might be looking to drive Honda or Toyota. It canbe taken as the question or the psyche of the people that what they believe internallyabout these two companies i.e. Toyota / Honda.This question is also important that some persons might be using Toyota but they likeHonda and vice versa or they might not like any of these two.
OPTIONSWe have given the options as follows
Toyota Honda Both NoneThe people might prefer Toyota or Honda. There might be people who like the both thatswhy they might be selecting BOTH. Finally people might not prefer any of these two sothey will go for the last option.
GRAPHICAL REPRESENTATION
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WHOSE PRODUCTS ARE MORE OFTEN SEENON ROADS?
This question is added because it will provide us with the factual data about what
people see on the roads while driving. U can see that Toyota products might be more orHonda products might be more. But this will give us the intentional thinking of thepeople i.e. what they perceive on the roads. If they are more inclined towards theToyota they will say that Toyota products are more often seen on the roads and viceversa. In real sense this question might be leading towards the brand loyalty of thepeople.
OPTIONSWe have given the options as follows
Toyota Honda Both None
The person who will be selecting Toyota means that he is inclined towards Toyotawhether he is using it or not and the same is the situation if he selects the option of theHonda. On the other hand the other two options are also there i.e. the person may be ofthe opinion that both type of products are more often seen on the roads. lastly any onecan be of the view that none of these two is more often seen on the roads.
GRAPHICAL REPRESENTATION
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WHOSE PRODUCTS ARE MORE STYLISH?
While drafting this question the basic idea in the back of the mind of my groupmembers was to perceive and conceive that which automobile company is offering
more stylish products. As stylish products are the means of attraction to the generalpublic and the major reason for acquiring the products to use by the generalpublic.Stylish products will result in the higher sale to the company as it will also leadthe accurate reason know that which company has the highest share in the market.
OPTIONS:
Toyota Honda Both None
GRAPHICAL REPRESENTATION:
WHOSE LOOKS ARE MORE LUXURIOUS?
The looks of any car has always impact on the customer. Many of the customers arelooks conscious than any thing else in the car. Therefore the looks that seem to beluxurious are more important to some of the customers at times. People perceives that ifthere car is fantastic in their looking then they will also be looking luxurious whiledriving this may lead to purchase of that type of car that they feel is luxurious. Some mayfind the products of the Toyota to be the luxurious and other may feel the same forHonda. It depends on the mentality of the persons what they perceive.
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OPTIONSWe have given the options as follows
Toyota Honda Both None
These options are given above may lead to any of the response. If the option Toyota isselected then it means that respondent feel that Toyota products are those that he feel areluxurious and meets its needs. Same is with Honda. There can be that feel that both theToyota and the Honda are luxurious in nature so that respondent will go for that.
GRAPHICAL REPRESENTATION
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WHO DO YOU THINK IS MORE RELIABLE FORTRAVEL?
In this question the basic knowledge we want to collect from the general public is to now
that which company the people think are more reliable when it come to traveling.Thisquestion will lead to us to the conclusion that when we talk about reliability andcommitment people prefer which company for traveling and transportation.
OPTIONS:
Toyota Honda Both None
GRAPHICAL REPRESENTATION:
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WHICH AUTOMOBILE DO YOU THINK HASMORE RESALE VALUE IN THE MARKET?
The basic idea behind this question is to gather the fact that which automobile company
has more resale value in the secondary market. This reason is the major contributor tothe higher share of the automobile company in the local market. As people prefer thoseproducts that have good re sale value at the time of selling under any situationalcircumstances.
OPTIONS:
Toyota Honda Both None
GRAPHICAL REPRESENTATION:
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WHICH COMPANYS SERVICE CENTERS AREMORE IN NUMBERS?
The concept of asking this question in the questionnaire is to find out the reason that
whether people are inclined towards the fact that the availability of there service centre ofthe companys. This question will give us with the internal state of the persons mind thatif the he purchases Toyota and Toyota service centre are more in no then in any case hiscar makes the default then he will be satisfied to have his car repaired from the originalservice centres.
OPTIONSWe have given the options as follows
Toyota Honda Both None
These options are given above may lead to any of the response. If the option Toyota is
selected then it means that respondent feel that Toyota products offer better interior.Same is with Honda. There can be situation that respondent feels that both the Toyota andthe Honda are offering good interior so that respondent will go for option both.GRAPHICAL REPRESENTATION:
WHOSE PRODUCTS ARE MOREENVIRONMENTS FRIENDLY?
While drafting this question the basic idea in the back of the mind of my group memberswas to perceive and conceive that which automobile company is offering products thatare more environments friendly and produces less pollution. Now days global warming
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and other hazards are very commonly discussed in the general public and a lot of NGOSare working on the awareness of the hazards to the mother earth. Thats why companyand people are loyal and attracted towards the products that are more environmentsfriendly and is fewer hazards to the nature.
OPTIONS:
Toyota Honda Both None
GRAPHICAL REPRESENTATION:
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WHOSE INTERIOR IS MORE ATTRACTIVE?The interior of the car has always a great impact on the comfort ability and thelooks of the car. Many people believe that the interior of the car must be attractiveand thats why they are attracted towards the cars that offer more variety and the
interesting eye catching interior. Therefore its a key factor in the purchase of thecar by any buyer. So the interior must be attractive to catch the buyers.
OPTIONS:
Toyota Honda Both None
GRAPHICAL REPRESENTATION:
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TOYOTA SPARE PARTS ARE READILYAVAILABLE IN THE MARKET?
This question is added in the questionnaire that n case of any problem with any genuinepart of the cars people pursue that they get the original part thats the psyche of the user.
So if the spare parts of Toyota are readily available in the market then the user will besatisfied in a way that the efficiency of its automobile isnt going to be affected becauseof the availability of the genuine spare parts. So this can be the major reason of thebuying of the Toyota by the user.
OPTIONSWe provided the following options to the respondent
Agree Disagree No idea
Since its a statement with which the respondent may agree or not thats why theseoptions are added in the questionnaire. If the respondent agrees with the statement then
there is a possibility that the respondent has purchase the Toyota product because of theavailability of the genuine spare parts. On the other hand there might be the situation thatrespondent doesnt agree with the statement and thats why respondent selects the optionof disagree. In the last the respondent might have no idea about this.
GRAPHICAL REPRESENTATION :
DO YOU THINK THAT TOYOTA PRODUCTSARE MORE ECONOMICAL THAN HONDA?
The price factor is always the key factor for all the things and same is the situation withthe prices of the automobile products. Price factor is a major hurdle for fixed salariedpersons all the time. They are more price conscious because of their salary range. If theToyota products are economical then the salaried category of the people will be
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purchasing the Toyota products. And most of the persons in Pakistan are salaried personsso that can be the major reason for more sales of Toyota as compared to Honda.
OPTIONSWe provided the following options to the respondent
Agree Disagree No idea
Since its a statement with which the respondent may agree or not thats why theseoptions are added in the questionnaire. If the respondent agrees that the prices of theToyota are economical then the respondent has purchase the Toyota product because ofthis factor. On the other hand there might be the situation that respondent doesnt agreewith the statement and thats why respondent selects the option of disagree. In the last therespondent might have no idea about this.
GRAPHICAL REPRESENTATION
PEOPLE PREFER TOYOTA BECAUSE OF ITSVARIETY OF MODELS?
Man is not satisfied with whatever he had. He is always there for new and new things. Heisnt satisfied with what he has with him. Same is the case in this matter i.e. the peoplearent satisfied with the single type of cars with a very little range of variety. Users needthe variety the more you provide the variety the more the customers you have with you.
In other words the sales of the companies are also dependent on the variety of theirproducts because users dont want to remain with the same thing for a longer period oftime.
OPTIONSWe provided the following options to the respondent
Agree Disagree No idea
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People may agree with our statement that yes Toyota offers more variety of products toits customers thats why there sales is higher than the sales of Honda. On the other handthere is equal chance that the respondent will state that the Toyota doesnt offer muchvariety of the products. Or in the end the respondent might not have any idea about thevariety of the models so he will be selecting the last option.
GRAPHICAL REPRESENTATION
PEOPLE PREFER TOYOTA BECAUSE OF ITSDIESEL ENGINE?
The availability of the diesel engine of the Toyota can be the major and the veryimportant factor of higher sales of Toyota as compared to Honda. Diesel engines are very
much necessary for the users who are living in rural areas where the availability of thepetrol isnt good. On the other hand the hilly areas of Pakistan like NWFP, NORTHENAREAS and the areas of Kashmir are very much difficult to travel. The cars and otherautomobile sectors over there need more power and that power requirement can only bemet by the diesel engines because the diesel engines are more powerful than the petrolengines.
OPTIONSWe provided the following options to the respondent
Agree Disagree No idea
People may agree with this statement and they may not. The persons who are belongingto the rural areas and the hilly areas can greatly understand this question in real waybecause they see this trend in their areas quiet often.
GRAPHICAL REPRESENTATION
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SHOCK PROBLEM RUMOR OF HONDA IS AHURDLE IN ITS MARKET SHARE?
It has been noticed in that a rumor is in the area from the July of the last week that thereis a problem with the shocks of Honda products. This can be the big hurdle because ofwhich the sales of Honda arent picking up in the market thus leading to an edge to thecompetitor i.e. Toyota. Rumors has always have a great impact on the psyche of thepersons so that hold a person to not to go towards the purchase of Honda. In other wordsToyota can cash this rumor in great way and as per the factual data Toyota has cashed italready in real way.
OPTIONSWe provided the following options to the respondent
Agree Disagree No ideaThe respondent when agree will be giving us the intention in real terms that he has heardthis rumor so he some what believes on it also thats why he is agreeing with thestatement. If the respondent doesnt agree he will simply disagree. On the last therespondent might be unaware of the rumor.
GRAPHICAL REPRESENTATION
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TOYOTA MARKET SHARE IS MORE BECAUSEIT IS TARGETING LOW INCOME GROUP AND
HONDA DOES NOT?
Since all the automobile products are costly so it there is a strategy made by the companyto target he low income level with a new range of products then it can be very mucheffective to boos the sales of the company. Since the most of the nation in Pakistan is atlow income level do in this way any company will be targeting a wide range of themarket segment. The more the target segment the more is the sales and the more is theprofit. This strategy is very much important for all the companies.
OPTIONSWe provided the following options to the respondent
Agree Disagree No idea
Since its a statement with which the respondent may agree or not. If the respondentagrees that the prices of the Toyota are economical and it is targeting the low incomelevel persons then the respondent has purchase the Toyota product because of this factor.On the other hand there might be the situation that respondent doesnt agree with thestatement and thats why respondent selects the option of disagree. In the last therespondent might have no idea about this.
GRAPHICAL REPRESENTATION
DO YOU THINK THAT BRAND LOYALTY OFTOYOTA IS MORE THAN HONDA?
Brand loyalty is the major factor related to the purchase of the cars. Once the loyalty isgrown it is very much difficult for any one to change the loyalty of anyone. If any personhas associated his loyalty with Honda then he will pursue to purchase the Honda and viceversa. This creation of loyalty is real critical process. The more the customer is satisfied
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the more it contributes towards the loyalty of the brand. Several other factors are of keyimportance in brand loyalty. So if the person is more loyal towards Honda then he will berejecting the statement.
OPTIONSWe provided the following options to the respondent
Agree Disagree No ideaPeople may agree with our statement that yes Toyota users are more brand loyal thatswhy there sales is higher than the sales of Honda. On the other hand there is equal chancethat the respondent will state that the Toyota dont have more brand loyalty. Or in the endthe respondent might not have any idea about the loyalty of the Toyota so he will beselecting the last option.
GRAPHICAL REPRESENTATION
PEOPLE PREFER TOYOTA BECAUSE OF ITSCOLOR RANGE?
Color is always important factor in the choice of any thing. Same is the case in thepurchase of cars. Females are always attracted towards the color range of the cars Toyotaoffer vide variety of colors that can be the real factor in the purchase of cars. On the otherhand of your desired colors isnt there in the product that you like then there is a
possibility that you will shift towards the other brand in which that color is available. Somore color range the more the market share leading to the higher profits.
OPTIONSWe provided the following options to the respondent
Agree Disagree No idea
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People may agree with our statement that yes Toyota offers more variety of colors to itscustomers thats why there sales is higher than the sales of Honda. On the other handthere is equal chance that the respondent will think that the color range doesnt make anydifference in the purchase of products. Or in the end the respondent might not have anyidea about the variety of the models so he will be selecting the last option.
GRAPHICAL REPRESENTATION
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TOYOTA OFFER BETTER ENGINEEFFICIENCY THAN HONDA?
Engine efficiency can be an important factor in the purchase of the product because if
product matches all the other factors that are needed by the purchaser but the efficiencyisnt good one then it may change the decision. Especially this has more effect on lowand fixed income group people. This may lead to a negative image on the user that willcreate a negative impact in the market ahead and some other negative rumors alike. Sothis question is a technical one thats why its added in the questionnaire.
OPTIONSWe provided the following options to the respondent
Agree Disagree No ideaSince its a statement with which the respondent may agree or not. If the respondent
agrees that the engine efficiency of Toyota is more than Honda then the respondent haspurchased the Toyota product because of this factor. On the other hand there might be thesituation that respondent doesnt agree with the statement and thats why respondentselects the option of disagree. In the last the respondent might have no idea about this.
GRAPHICAL REPRESENTATION
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Overall Analysis
The reasons that can be given to provide justification to analysis are as follows:
In present society and living way, the Brands not only represent the symbol of the
company or product but to a larger extent define the general life of a person. What the
person uses can reflect his taste of life, his status in the society, his economic background
and many other things. This makes a deep connection between the company and its
brand, with the consumer. In this two way relation both are dependent on each other for
various different reasons. Customers purchase the specific brand things just due to the
brand name. Customers believe that brand name is a symbol of quality. We came to the
conclusion that when consumer purchases a car, brand names influence his choice.Customers choose the well known car brand.
The brands of Toyota which are of real attention and attraction i.ie PARADO and LAND
RUISER has great impact on the psyche of the people. People purchase Toyota while
having an idea in their mind that believes to the class of executive. More over its very
much clear that Toyota has also small cars like VITZ for the a bit low standard customers
thats where it gain advantage over Honda in the market. On the other hand the another
major factor that always gives Toyota an importance in he minds of majority of the
people who live in village is the diesel engine that Toyota offers but Honda doesnt. in
the northern areas, NWFP and AJK which is the hilly area of Pakistan and requires more
effort from the engines and this demand is met by the Toyota. So this is a major portion
of the market that Honda doesnt have much capability to capture. The resale value factor
is also influencing the minds of the people majority of the people believe that Toyota is
offering more resale value in the market so they will prefer to purchase that thing that
will be offering more value in the market when they are going to sell it back.
The study shows that Toyota and Honda City brands have a great place in consumer
mind, when customers go for purchasing a car, they prefer by that creative perception.
Honda is less loyal to customer due to its high cost, low reliability, low performance, and
lack of 3S availability, high cost of maintenance and Spare Parts and shape as compare to
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Toyota. Honda City model 2005 was highly drop down because the car shape was did not
appreciated in Pakistan moreover it was also failed in specific duration because of side
mirror of the car the reason was that the side mirror was resisted by pillar of front quarter
window which customer felt uncomfortable when he/she viewed back side. These
problems had been shifted from the loyal brand. If a Customers delighted by Toyota
he/she does not want to try Honda City car because they have no much information about
it and vise versa.
we
feel that the purpose of this study has been fulfilled to some extant. The theory describe
that brand name has a power, which attracts the customers towards branded products. The
reason is that customer gets special connection with specific brands product and become
the loyal with brand and we founded that Toyota attracts more people.
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Recommendations
12. In the light of entire project we would like to highlight some recommendation we
found that in the light of brand loyalty Toyota and Honda gaining more and more
competitive advantage because it purely involved according to the Pakistan
environment keep on focusing in the customers point of view like
13. The shape of car as customer perceives need to be changed by the Toyota because
people believe that every new model of Toyota is like the old one.
14. Interior of the car of Toyota, which mostly people of Pakistan do not much like,
needed to be changed.
15. Indus Motors Company has to establish 2S for compete the Pak SUZUKI becausePak Suzuki is the largest automobile company in Pakistan and its cars are highly
appreciated because of economical price.
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FINDINGS AND RECOMMENDATIONS
5.1 FINDINGS
76% of the respondents were owners of Toyota
83% of the Respondents were satisfied with their cars and the services of
TOYOTA, However 17% of the Respondents were dissatisfied at the same time
18% of the respondents would prefer to buy a Toyota car against its competitors
Information through Internet and Print media accounts for more than half or 75%
of the information shared with the masses. Rest 25% was shared by T.V. and
Dealers for providing the information
78% of the respondents felt that Toyota has the most fuel efficiency
70% of the respondents felt that the features of the Toyota are good. While 8% of
respondents thought it was not so good, 10% thought it was very good and 12%
felt satisfactory about the features
Toyota is best known for its design & comfort. Then comes Handling and Fuel
Efficiency.
If Toyota is made more affordable then it would win more customers, a theory
which was backed by 72% of the respondents.15% and 13% respectively want
cheaper spare parts and more service stations.
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To make it the best car in its class it should be made more futuristic which was
felt by 60% of the respondents.15% of the respondents thought it should be made
more sporty.10% wanted it to have a retro look and 15% wanted to give it a
concept car look.
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FUTURE PLANS
Pakistan's car population may be growing but the growth is mainly concentrated in the
small car sector, and not without reason. With increasing interest rates making buying
cars costlier and the government slapping new duties on larger vehicles in addition to the
existing favorable tax regime for smaller cars, even premium players are wading into the
small-car scene.
Though the new compact car has been designed for the Pakistani market, the initial
design features indicate that it can be exported to other markets in Asia. Daihatsu,
Toyota's group company, will not be involved in designing the compact new car, though
it may be included in future plans.
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BIBLIOGRAPHY
Books:
Kotler Philips, Marketing Management: 30th Edition
Chabra T.N., Marketing management 2005
C.B. Gupta, Marketing management 2006
MagazinesBusiness standard Motoring May 2008 edition
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