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Toyota Industries Corporation - Environmental Factors of Marketing - Impact of Technology

Essay by   •  June 30, 2011  •  Case Study  •  519 Words (3 Pages)  •  2,702 Views

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Environmental Factors Of Marketing

explain the impact of technology.

Toyota Industries Corporation continues to expand due to the increased demand and financial growth. Toyota is a global company that started in 1933 with the company being a division of Toyoda Automatic Loom Works which devoted to the production of automobiles under the direction of the founder's son, Kiichiro Toyoda (Toyota, 2011). Therefore, Toyota's global economic interdependence is necessary to maximizing their sales revenue by focusing on buying a vehicle parts and materials from different parts of countries. By doing this Toyota would increase their market share in each of the country and region where they do their business. In addition, Toyota must consider on targeting audience such as older and younger consumer within the country because these groups would increase their cars sales and it would bring success to Toyota in long term. Today, U.S. government does provide automaker loans to help minority business in the United State. This would help the business in many ways by providing loans to consumers, the dealership are making more money and selling more cars. On other hand, the effect of trade practices and agreements plays important part in Toyota's strategy and operation within the boundaries of the countries. For example, Toyota must consider different rates, taxes, trade barriers and agreement when pricing their products in order for consumers to buy.

The importance of demographic is the study of human populations in terms of size, density, location, age, and other statistics (Arm, 2011). In case of Toyota their car is the examining of characteristics of how they will apparent by consumers. For example, Toyota is number third in the auto market to reach out to people around the world through internet and smaller country where their cars were not selling before. Even the importance of physical infrastructure is very important to Toyota because they want their consumers to have a vehicle which has safety and quality construction. Toyota has been known for their trustworthiness and very dependable cars because many people prefer having Japanese cars than other cars out there.

Cultural difference is that companies should consider and get right thing when marketing their product in a global market. Therefore, cultural difference would include things as religion, beliefs, tradition etc. and every country has different points of view when dealing with global marketing. In the case Japan and United States their cultural difference would be they try to hold the company back from their meeting requirements and the welfare of the US consumers.

These consumers are impacted by the sticking accelerator problems. The Japanese are not imagined to have knowledge of mistakes visibly as readily as are Americans. Their businesses do not exercise transparency

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