Promotional and Advertising Strategies: Toyota and Ford
BUS 508 - Contemporary Business
December 7, 2014
Advertising is paid non-personal communication usually targeted at large numbers of potential buyers. Promotional strategy is another marketing mix element that effectively blends advertising, personal selling, sales promotion and public relations to achieve its goals of informing, persuading, and influencing purchase decisions (Boone, 2013). Both of these actions are needed in order to maintain a prosperous business. Some companies use an exorbitant amount of money in order to promote their products and services and companies in the automotive industry are close to the top of that list. The goal of advertising and promoting is to get the product out to the targeted customer base as well as to expand the customer base that has been established. Two companies that have done a good job of advertising and promotion are Toyota and Ford. Toyota
Toyota motor corporate is a Japanese automotive manufacturer headquartered in Toyota, Aichi Japan. In 2013, the multinational corporation consisted of 333,498 employees worldwide and as of January 2014 is the 14th largest auto manufacturer in 2012 by production. It’s the worlds 1st automobile manufacturer to produce more than 10 million vehicles per year. It was founded by Kiichiro Toyoda in 1937 as a spinoff from his fathers company Toyota Industries to create automobiles. Toyota is now number 5 on the list of “Which Automotive Companies Lead the Innovation Race?” Their global vision is “Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and the most responsible ways of moving people. Through our commitment to quality, and respect to the planet, we aim to exceed expectations and be rewarded with a smile. We will meet our challenging goals by engaging the talents and passion of people who believe there is always a better way.” (Menghani, 2014). Ford
Ford Motor Company was founded in 1903 by Henry Ford in Detroit, MI. Not only did Ford revolutionize the development of the automobile as a product, he is also the visionary behind the idea of mass production. Ford’s ability to make automobiles affordable for the masses is cited as a driving force behind both the automobile industry and the creation of a middle class in America. Ford Motor Company has a clear mission: ONE TEAM
People working together as a lean, global enterprise for automotive leadership, as measured by: Customer, Employee, Dealer, Investor, Supplier, Union/Council, and Community Satisfaction ONE PLAN
Aggressively restructure to operate profitably at the current demand and changing model mix Accelerate the development of new products our customers want and value Finance our plan and improve our balance sheet
Work together effectively as one team
ONE GOAL An exciting, viable Ford delivering profitable growth for all. Some features that stick out with the brand are its reliability, high quality, and innovativeness. Three places behind Toyota, Ford makes the Innovative list at number eight. Along with cars its effort towards social responsibility also plays an important role in the creation of its brand. Ford is a dominant brand in large cars. Due to the increase in oil prices and some regulations Ford reorganized three of its production lines to make more cost effective and economic cars in Europe. In 2009 after Toyota, Ford finally manufactured its hybrid vehicles. Today Ford has four hybrid models and the Ford Focus is considered to be the rival of the Toyota Prius. Ford started off with the United States but has gradually expanded its target market to Asia and Europe. Comparing Promotional Strategies between Toyota and Ford
Toyota's marketing efforts in North America have focused on emphasizing the positive experiences of ownership and vehicle quality. The...
References: Boone,L.E., & Kurtz, D.L., (2013). Contemporary Business. (15th Ed). Hoboken, NJ: John Wiley & Sons, Inc.
Davies, Steve. Which Automotive Companies Lead the Innovation Race. http://skiddmark.com/2013/10/automotive-companies-lead-innovation-race/
Farfan, Barbara. Company Mission Statements - Complete List of World’s Largest Retail Missions.
Menghani, Jiten (2014). Marketing Strategies & Plans of Toyota Motors
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