Evaluation of the Key Marketing Strategies for Toyota in the UK Essay - 1

Evaluation of the Key Marketing Strategies for Toyota in the UK - Essay Example This paper illustrates that the sales and revenues for Toyota reduced in financial 2011, compared to 2010 in its major geographic market segment; Japan. This occurred because the government was offering subsidies for the citizens to purchase eco-friendly cars. This, therefore, points to the need for venturing into the less competitive market segment, where there are still few companies specializing in this market segment. By so doing, Toyota will manage to annex a new market segment comprising of buyers and government institutions willing to use the Eco-Cars, making it possible for the company to increase its sales and revenues. Thus, the introduction of Eco-friendly cars by Toyota in the UK will have the impact of boosting its sales, since government institutions in the UK support these vehicles. This way, Toyota will manage to capture the demand from these institutions, thus expanding its overall market share, sales and revenues. Customers are always in search of products that will not only satisfy their need, but also those products which they have full confidence in. the market for Toyota vehicles has been badly hurt by recalling cars, which were manufactured with various defects. Although such an action is necessary to avoid losing the market share when the default is eventually discovered, it does not augur well with customers. Recalling vehicle after selling them to the customers serves to inconvenience the customers, while also increasing their doubt on the suitability of the subsequent products manufactured by the company. This is detrimental since it s erodes the confidence that the customers had on the company and its products. Additionally, recalling cars after they have already been sold is detrimental to the reputation of the company, since it gives its competitors an upper hand. Therefore, to boost the confidence of the customers and ensure that their loyalty in the company and its products is restored, the company needs to work towards improving the reliability of its products, through eliminating any weaknesses on its products before they are released to the market.