BUS7B29 Integrated Communications Assignment Sample
Introduction
In this report, the details of communication strategies of Toyota motor corporation will be discussed elaborately to get a clear view of the marketing communication plan for gaining consumer confidence upon the organization.
Industry background
Toyota Motor corporation is one of the largest organizations in the automotive industry established in the year 1937 in Japan by Kiichiro Toyoda. It is a globally recognized automotive company which has presence in all the continents and offers vehicles in almost 170 countries around the world which is following sustainable principles as the organizational commitment towards the people and the earth.it has adopted a robust and flexible Toyota production system committed to eliminate the key issues of overburden, inconsistency and waste which effectively put the organization into the forefront of the automotive market. More than 3,60,000 employees are working in the company to efficiently manage and coordinate the global business with customer choice and pleasure. The company has made an annual revenue around $255 billion in the year 2021 with a dip in market due to the pandemic (TOYOTA Corporation 2022).
Characteristics and different communication strategies of company
Toyota is known as one of the most renowned cars manufactures within the global context of the automobile industry and with its efficient marketing plan and constant deliverance of quality and innovative vehicles has helped Toyota to remain profitable throughout the years. In order to maintain a strategic plan of communication for the successful conduction of all business activities Toyota has aligned and integrated together to ensure that both internal and external stakeholders are able to communicate effectively. By keeping such an approach, the company may make sure that internally there is no conflict amongst the management and employees and even if conflict occurs then that may be resolved with the help of effective communication. Similarly, with the current communication strategy of Toyota, the organization will also be able to maintain a cordial relationship with the external stakeholders, such as different investors, shareholders and consumers as well.
Moreover, through the means of effective communication, it will be easier for Toyota to make marketing decisions with much more efficiency and chances of the decisions to emerge as fruitful will increase. Many companies nowadays are using digital marketing without having a proper strategy and obtaining moderately good results, however, many of the businesses are lacking more improved targeting and experiencing other different challenges (Ganev, 2018). In order to have an enhanced marketing plan Toyota may use the RACE framework that encompasses four aspects, such as reach, act, convert, engage to reach more consumers. The first aspect will be to reach more consumers by building a presence on both offline and online media, then act or engage the audience through the brand’s website or other different modes that may be beneficial and suit the business model of the company. Following that, it will be required to actually acquire conversions for the purpose of fulfilling the desired market goals and during the process of conversions, engagement with the client base to retain the customer base will be carried out.
Figure 1: RACE framework
In terms of marketing communication, it is recommended that the company puts utmost focus on utilizing as many digital platforms and marketing strategies as possible, since in this era these approaches are providing more fruitful results regarding engagement with consumers. In the contemporary world, marketing communication executed through online platforms covers a broad area and therefore, offers a greater reach of advertising to a large audience base as well (Krizanova et al., 2019). However, paid advertisements on traditional media platforms, such as electronic and print media may not be overlooked completely for ensuring having the most efficient marketing communication. Toyota is a company that has existed in the market for a long time and thus, has both a young and relatively older generation of target audience. thereafter, Toyota needs to take advantage of both traditional and contemporary approaches of marketing for effective marketing communication. However, the behaviour of consumers and people’s habit of media consumption are evolving at a rapid speed and predictable reactions to stimuli have become difficult to predict nowadays and hence, traditional marketing approaches are also losing their fruitfulness as well (Turner et al., 2018).
Marketing communication plan of Toyota
| Marketing communication plan | Justification of this plan | Impact on the organization |
| Integrated lean practices | The company has to make sure that in order to understand the products the company has to first provide value to the customers and even for the sustenance of the company in the market | It helps the company to understand the responsibility and even helps the company to empower major product management which helps the company in making the process and the values of the company extremely valid for the company |
| Employee training | The training of the employees may help the company in making the process smooth and with the help of the employees responsibility and even the accountability are quite well | Training and development is an extensive tool for improving the performance of the employees which helps with good communication may put a good effect in the management of the products (Afroz, 2018) |
| Problem solving | The company has to make sure that the company is able to understand that the company with the help of planning, acting and even doing the work properly may help in gaining good access to the marketing mix of the company | The company with the help of the problem solving mechanism may help the company to flourish well in the market and even help the company at times of need |
| Operational training | The company has to provide with the operational training to the customers which may help the employees to even develop the desired skills for the work | The operational training may be quite helpful for the company and even the employees for conducting the work of the company quite well and in a smooth manner |
| Integrated marketing communications | The company with the help of integrated marketing communications may help the company to flourish quite well in the market and even help the company to promote the business to the customers | The company with the help of the communications the company may be able to integrate and even it may help the company to flourish in the market quite well |
| Stakeholder communications | The stakeholders communications such as with the supplier and the seller has to quite effective in order to sell the products | The company has to keep in mind that the company has to make sure that the company makes good contacts and communications with the suppliers and the sellers |
| Client communications | The communication with the client is the essential element in case of marketing making company to understand well about the marketing strategy | The communications has to be an integral part of the organization which may help in the marketing and also in the management (Alessandro, 2020) |
| Place marketing mix | The place through which the company may be marketing such as technical support, customers care and product demonstrations which may help the company to understand about the products quite well | The company too has to make sure about the importance of the place marketing which may help the company to flourish well in the market |
| Price marketing mix | The company with the help of price marketing may help the company to see the prices as useful for the company | The company has to make sure that the pricing strategy impact in profit making for the company |
| Promotional marketing mix | The company with the help of digital and internet marketing may help the company to progress in the market | The company may be able to reach the desired customers more easily through the help of promotional marketing |
Table 1: Marketing communication plan
(Source: Self-created)
Toyota has adopted integrated lean practices in the management to develop the strategic marketing communication all over the globe to empower the organization with market responsiveness and flexible operating. The training and development of individual employees has allowed the organization to adopt and develop the products and services with the cutting edge technology and present to the customers to grab the market attention and a positive profit margin. The integration of communication has made the organization better equipped with the technology and population for business alignment along with controlled usage of social media interaction to make the organizations adaptability more reliable along the market trend and customer’s behaviour (Belgrade and Puspita, 2021). The extended communication channels and procedures of the company make the organization viable in the industry with a cordial relation with stakeholder and the clients for organizational growth and sustainability. On the other hand, the marketing communication of price mix and promotional mix communication keep the organization afloat in the market with competitive advantage through unique ways of advertising and communication with the target market which has boosted the global operation of the company with more profit and efficiency.
Conclusion
From the above discussion, it has been concluded that the communication strategy of the Toyota Motor corporation has kept the organization thriving in the market with integration of communication and marketing management to grab the leading position in the automotive industry.
Reference
Afroz, N.N., 2018. Effects of training on employee performance-A study on Banking sector, Tangail Bangladesh. Global Journal of Economics and Business, 4(1), pp.111-124.
Belgrade, I.R. and Puspita, V., 2021, March. Marketing Communications Strategy and Brand Sustainability of Toyota Astra Motor Indonesia. In 2nd Southeast Asian Academic Forum on Sustainable Development (SEA-AFSID 2018) (pp. 196-199). Atlantis Press.
Ganev, P., 2018. How to Choose the Appropriate Digital Marketing Tool. Global Business & Economics Anthology, 1, pp.16-25.
Krizanova, A., Lăzăroiu, G., Gajanova, L., Kliestikova, J., Nadanyiova, M. and Moravcikova, D., 2019. The effectiveness of marketing communication and importance of its evaluation in an online environment. Sustainability, 11(24), p.7016.
TOYOTA Corporation 2022. Annual Report | Investors Library | Shareholders & Investors News | Toyota Motor Corporation Official Global Website. [online] Toyota Motor Corporation Official Global Website. Available at: <https://global.toyota/en/ir/library/annual/> [Accessed 17 January 2022].
Turner, J., Shah, R. and Jain, V., 2018. How brands are using nonlinear marketing to address consumer resistance to traditional marketing strategies. Journal of Brand Strategy, 6(4), pp.397-408.
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