MBA Research Project

SUMMER TRAINING PROJECT REPORT ON

(MARKETING STRATEGIES OF TOYOTA)

FOR THE PARTIAL FULFILLMENT OF THE REQUIREMENT

FOR THE AWARD OF

DEGREE OF MASTER OF BUSINESS ADMINISTRATION

(2009-2011) 

Submitted to: Submitted by:

Dr. Harinder Singh Hemantbir singh Dhillon

HOD PG Studies Roll no-90032265796

(DEPARTMENT OF MANAGEMENT STUDIES

AND COMPUTER APPLICATIONS)
AMRITSAR COLLEGE OF ENGINEERING
& TECHNOLOGY, AMRITSAR
 PREFACE

As a part of course curriculum of Master Of Business Administration

we were asked to undergo 6 weeks summer training in any
organisation so as to give us exposure to practical management to get
us familiar with various activities taking place in the organisation.

I have put my sincere efforts to accomplish my objectives within the

stipulated time. Despite all limitations, obstructs, hurdles and
hindrances, I have toiled and worked to my optimum potential to
achieve desired goals. Being neophytes in the highly competitive
world of business. I came across some difficulties to make my
objective a reality. Anyhow with the kind of help and genuine interest
and the guidance of my supervisor. I am presenting this hand carved
effort. I tried my level best to conduct a research to gain a thorough
knowledge about the project on topic, “ Marketing Strategies Of
Toyota”. I put the best of my efforts and have also tried to be justice
with available. If anywhere something is found unacceptable or
unnecessary to the theme; you are welcomed with your valuable
suggestions.
Thanks and regards
Yours sincerely
Hemantbir singh Dhillon
 CERTIFICATE

This is to certify that the project work done on “MARKETING

STRATEGIES OF TOYOTA” is a bonafide work carried out by Mr.
HEMANTBIR SINGH DHILLON under my supervision and
guidance. The project report is submitted towards the partial
fulfillment of 2 year, full time Post Graduate Degree in Management.

The original work was carried during 11 June 2010 to 25 July 2010 in
CASTLE TOYOTA, Amritsar.

Ashish Kohli

Date:
 ACKNOWLEDGEMENT

I would like to thank Toyota Motors Corporation, for constant

guidance to conduct the present arduous project and untiring
cooperation which they extended to me throughout the duration of my
summer training.

Getting a project ready requires the work and effort of many people. I
would like to thanks all those who have contributed in completing this
project. First of all, I would like to send my sincere thanks to MR.
ASISH KOHLI for his helpful hand in the completion of my project.

I would like to take an opportunity to thank all the people who helped
me in collecting necessary information and making of the report. I am
grateful to all of them for their time, energy and wisdom.

(HEMANTBIR SINGH DHILLON)

 DECLARATION

I, Mr. HEMANTBIR SINGH DHILLON hereby declare that this

project report is the record of authentic work carried out by me during
the period from 11 june 2010 to 25 july 2010 and has not been
submitted to any other University or Institute for the award of any
degree / diploma etc.

Hemantbir Singh Dhillon

Date
 CONTENTS

Chapter 1 – Introduction 8-31

1.1. Overview of Industry as a whole
1.2. Company Profile
1.3. Business overview
1.4. Indian Arm
1.5. Competition Information

Chapter 2 – Conceptual Discussion (Theoretical 32-57

Backdrop & Literature Review) -

Chapter 3 - Objective & Methodology 58-64

3.1. Significance
3.2. Managerial usefulness of the study
3.3. Objectives of study
3.4. Scope of the study
3.5. Research Methodology
3.6 Limitations of the study

Chapter 4 - Data Analysis 65-81

Chapter 5 - Findings and Recommendations 82-83

ANNEXURES 84

QUESTIONIARE 85-87
BIBLIOGRAPHY 88

List of Tables and Charts

Sr no. TOPIC Page No.

1.1 Market shares and segments of Automobile Industry 11

1.2 Replica of the Toyota Model AA, the first production model of 16
Toyota in 1936

1.3 Sales by Business segment 22

1.4 Sales and overseas sales 22

1.5 Ordinary Income 23

1.6 Marketing Structure 35

1.7 Poters Generic Study 50

1.8 Distribution Network 55

1.9 Percentage of Toyota owners 73

2.0 Customer Satisfaction rating 74

2.1 Preferences of Buying a new car 75

2.2 Source of Information. About Toyota 76

2.3 Fuel efficiency of Toyota 77

2.4 Features of Toyota 78

2.5 Qualities that best describe Toyota 79

2.6 Interiors of Toyota 80

2.7 How to Improve Toyota 81

2.8 Image of Toyota 82

2.9 After sales service 83

 CHAPTER 1 – INTRODUCTION

1.1. OVERVIEW - INDIAN AUTOMOBILE INDUSTRY

Over a period of more than two decades the Indian Automobile industry has
been driving its own growth through phases. The entry of Suzuki
Corporation in Indian passenger car manufacturing is often pointed as the
first sign of India turning to a market economy. Since then the automobile
sector witnessed rapid growth year after year. By late-90's the industry
reached self reliance in engine and component manufacturing from the
status of large scale importer.

With comparatively higher rate of economic growth rate index against that
of great global powers, India has become a hub of domestic and exports
business. The automobile sector has been contributing its share to the
shining economic performance of India in the recent years.
With the Indian middle class earning higher per capita income, more people
are ready to own private vehicles including cars and two-wheelers. Product
movements and manned services have boosted in the sales of medium and
sized commercial vehicles for passenger and goods transport. Side by side
with fresh vehicle sales growth, the automotive components sector has
witnessed big growth. The domestic auto components consumption has
crossed rupees 9000 crores and an export of one half size of this figure
Overview Of Automobile Industry
The Indian automobile industry is going through a technological change
where each firm is engaged in changing its processes and technologies to
sustain the competitive advantage and provide customers with the optimized
products and services. Starting from the two wheelers, trucks, and tractors to
 the multi utility vehicles, commercial vehicles and the luxury vehicles, the
Indian automobile industry has achieved tremendous amount of success in
the recent years.

As per Society of Indian Automobile Manufacturers (SIAM) the market share

of each segment of the industry is as follows:.

The market shares of the segments of the automobile industry

Figure 1.1

The automobile industry had a growth of 15.4 % during April-January 2007,

with the average annual growth of 10-15% over the last decade or so. With the
incremental investment of $35-40 billion, the growth is expected to double in
the next 10 years.

Consistent growth and dedication have made the Indian automobile industry the
second- largest tractor and two-wheeler manufacturer in the world. It is also the
fifth-largest commercial vehicle manufacturer in the world. The Indian
automobile market is among the largest in Asia.

The key players like Hindustan Motors, Maruti Udyog, Fiat India Private Ltd,
Tata Motors, Bajaj Motors, Hero Motors, Ashok Leyland, Mahindra &
Mahindra have been dominating the vehicle industry. A few of the foreign
players like Toyota Kirloskar Motor Ltd., Skoda India Private Ltd., Honda Siel
Cars India Ltd. have also entered the market and have catered to the customers’
needs to a large extent.

Not only the Indian companies but also the international car manufacturing
companies are focusing on compact cars to be delivered in the Indian market at
a much smaller price. Moreover, the automobile companies are coming up with
financial schemes such as easy EMI repayment systems to boost sales.

There have been exhibitions like Auto-expo at Pragati Maidan, New Delhi to
share the technological advancements. Besides, there are many new projects
coming up in the automobile industry leading to the growth of the sector.

The Government of India has liberalized the foreign exchange and equity
regulations and has also reduced the tariff on imports, contributing significantly
to the growth of the sector. Having firmly established its presence in the
domestic markets, the Indian automobile sector is now penetrating the
international arena. Vehicle exports from India are at their highest levels. The
leaders of the Indian automobile sector, such as Tata Motors, Maruti and
Mahindra and Mahindra are leading the exports to Europe, Middle East and
African and Asian markets.
The Ministry of Heavy Industries has released the Automotive Plan 2006-2016,
with the motive of making India the most popular manufacturing hub for
automobiles and its components in Asia. The plan focuses on the removal of all
the bottlenecks that are inhibiting its growth in the domestic as well as
international arena.
1.2. COMPANY PROFILE

TOYOTA MOTOR CORPORATION, JAPAN

The Toyota Motor Co. Ltd was first established in 1937 as a spin-off from
Toyoda Automatic Loom Works, one of the world's leading manufacturers of
weaving machinery. The Toyoda Automatic Loom Works was then headed by
Japan's "King of Inventors" Sakichi Toyoda. The patent rights to one of his
machines had been sold to Platt Brothers (UK) and provided the seed-money for
the development and test-building of Toyota's first automobiles.

August 1997 marked the 60th anniversary of TMC. The fledgling company
founded by Kiichiro Toyoda, Sakichi's son, has since blossomed into the leader
that it is today. In 1950 the company experienced its one and only strike. Labor
and management emerged from this stoppage firmly committed to the principles
of mutual trust and dependence, and that corporate philosophy still guides
growth today.

Production systems were improved in the late 1950s, culminating in the

establishment of the 'Toyota Production System.' It became known as TPS in
1970 but was established much earlier by Taiichi Ohno. Based on the principles
of Jidoka, Just-in-time and Kaizen, the system is a major factor in the reduction
of inventories and defects in the plants of Toyota and its suppliers, and it
underpins all our operations across the World. Toyota launched its first small
car (SA Model) in 1947. Production of vehicles outside Japan began in 1959 at
a small plant in Brazil, and continued with a growing network of overseas
plants. Toyota believes in localizing its operations to provide customers with the
products they need where they need them; this philosophy builds mutually
beneficial long-term relationships with local suppliers and helps the company
fulfill its commitments to local labor.

Over and above manufacturing,Toyota also has a global network of design and
'Research and Development' facilities, embracing the three major car markets of
Japan, North America and Europe.

In every community in which the company operates, Toyota strives to be a

responsible corporate citizen; close relationships with people and organizations
in the local community are essential contributors to mutual prosperity. Across
the world, Toyota participates enthusiastically in community activities ranging
from the sponsorship of educational and cultural programmes to international
exchange and research.

Today, Toyota is the world's third largest manufacturer of automobiles in unit

sales and in net sales. It is by far the largest Japanese automotive manufacturer,
producing more than 5.5 million vehicles per year, equivalent to one every six
seconds.

HOW IT STARTED

1918: Sakichi Toyoda establishes Toyota spinning and weaving

Co. ltd.

1926: Toyoda Automatic loom works ltd. Established.

1936: Production of model AA passenger cars begins.

Figure 1.2 Replica of the Toyota Model AA, the first production model of
Toyota in 1936

1937: Toyota motor co. ltd. Established.

1962: Toyota motor co. Thailand established.

1964: Toyota Canada established.

1965: Toyota ltd. Established in United Kingdom.

1971: Toyota Deutschland established in Germany.

1972: Toyota manufacturing Australia ltd. Begins operation in

Australia.

1984: NUMMI begins operation in the US.

1992: Toyota motor manufacturing (UK) ltd. Begins operation.

1996: Toyota motor manufacturing North America established.

1997: Toyota Kirloskar motor pvt. Ltd. (TKM) established in

India.

2000: Launched Toyota quails in India.

2002: Toyota Camry launched in India.

2003: TKM launches Toyota Corolla in India.

ASSEMBLY PLANTS OVER THE WORLD

Toyota has factories all over the world, manufacturing or assembling vehicles
for local markets, including its most popular model, the Corolla. Toyota has
manufacturing or assembly plants in the United States, Australia, Canada,
Indonesia, Poland, South Africa, Turkey, the United Kingdom, France, Brazil,
and more recently India, Argentina and Czech Republic. Toyota also builds and
sells cars in China in a joint venture with Tianjin Xiali. Toyota New Zealand
assembled vehicles until 1998, when it switched to importing cars from Japan
and Australia. Cars from these plants are often exported to other countries.
Business Overview

Toyota Industries Corporation was founded in 1926 by Sakichi Toyoda to

manufacture and sell the automatic looms which he had invented and perfected.
Since that time Toyota Industries has promoted diversification and expanded the
scope of its business domains to include textile machinery, automobiles
(vehicles, engines, car air-conditioning compressors, etc.), materials handling
equipment, electronics, and logistics solutions.
With production bases in North America, Europe, and Asia (China and India),
as well as a worldwide sales network, centered around our Materials Handling
Equipment and Textile Machinery Segments, the operations of the Toyota
Industries Group span the globe.
In November 2006, Toyota Industries celebrated its 80th anniversary. We
remain committed to the further development of our businesses and the
unwavering pursuit of sustained innovation and creativity.

Automobile  Materials Handling  Logistics

Textile Machinery  Others   

Automobile:
Toyota Industries develops and manufactures automobiles and automobile-
related products, such as vehicles, engines, car air-conditioning compressors,
car electronics components and devices, and stamping dies.
In the vehicle and engine businesses we have achieved a top-class level of
quality and productivity within the Toyota Group and are contributing to Toyota
Motor Corporation's car production.
The car air-conditioning compressor business uses its unsurpassed technological
development capabilities to develop and manufacture products of superior
quality that have won extensive acclaim from Toyota Motor Corporation and
other major automakers from around the world.
In addition, we are developing and producing car electronics components and
devices such as DC-DC converters for hybrid vehicles and are also
manufacturing stamping dies mainly for automobiles.
The automobile business has adopted the themes of "safety" and "the
environment" and is promoting manufacturing that fully supports the customer's
use and enjoyment of their vehicles.

Materials Handling Equipment:

Toyota Industries carries out development, manufacturing, and sales of logistics

equipment and systems that include not only industrial vehicles, such as lift
trucks, but also transportation, storage, and sorting. In order to help our
customers overcome their logistics challenges, we offer optimized materials
handling solutions based on our technological capabilities and materials
handling know-how.
We provide products to our customers around the world using the Toyota, BT,
and Raymond brand names. Under the Aichi brand, aerial work platforms are
sold throughout the world.
Logistics:

In addition to cargo transport and warehousing operations, Toyota Industries

carries out the Logistics Solutions Business to help companies reduce their
logistics costs. We handle all aspects of customers' logistics by combining our
extensive business experience in lift trucks, automated storage and retrieval
systems, and other materials handling equipment with our production and
logistics know-how that has been cultivated from monozukuri (creating things).
We are building original business models that strive to optimize the overall flow
of “goods”, “money”, and “information” from the manufacturer to the customer,
and thereby contribute to the optimization of the customer's overall logistics.

Textile Machinery:

The roots of the Toyota Group go back to the renowned Japanese inventor
Sakichi Toyoda and his invention of the automatic loom. Since its founding,
Toyota Industries' Textile Machinery Business has developed, manufactured,
and sold textile machinery, the majority of which has been supplied to
customers outside Japan. We manufacture two main categories of textile
machinery: spinning machinery and weaving machinery. To keep up with the
advancing needs of the market, we continuously incorporate the latest
technological developments, including control technology, mechatronics and IT,
into our textile machinery. We receive high praise from customers around the
world as an international leader, especially for our flagship air-jet loom, which
boasts the No.1 share in the industry, but also for spinning machinery such as
our ring spinning frames and roving frames.

Others:

TIBC Corporation (TIBC) is a joint venture with Ibiden Co., Ltd. that
manufactures semiconductor package substrates.

Corporate Profile
Company
Toyota Industries Corporation
name
Established November 18, 1926
Head office 2-1, Toyoda-cho, Kariya-shi, Aichi 448-8671 JAPAN

President Tetsuro Toyoda

Manufacture and sales of textile machinery, automobiles,

Business
materials handling equipment, etc. as well as logistics
activities
business, etc.
Capital 80.4 billion yen (as of March 31, 2010)
Net sales 1,377.7 billion yen  
Operating
22.0 billion yen  
income
Ordinary
31.7 billion yen  
income
Net Income -26.2 billion yen  
Employees 38,903 (as of March 31, 2010)
*Note: Figures are based on FY 2010 consolidated business results. (Amounts
less than one hundred million yen of the figures are omitted.) Toyota is covering
more profit than GM,Ford,Chrysler putting together.
Sales by Business Segment (FY 2010, Consolidated Basis)

Figure 1.3
* "FY 2010" refers to the fiscal year ended March 31, 2010, and other fiscal
years are referred to in a corresponding manner.

Sales and Overseas Sales

(Consolidated Basis)

Figure 1.4
Ordinary Income
(Consolidated Basis)

Figure 1.5

INDIAN ARM

TOYOTA KIRLOSKAR MOTOR PRIVATE LIMITED

As a joint venture between Kirloskar Group and Toyota Motor Corporation,

Toyota Kirloskar Motor Private Limited (TKM) aims to play a major role in the
development of the automotive industry and the creation of employment
opportunities, not only through its dealer network, but also through ancillary
industries.

TKM's growth since inception can be attributed to one simple, yet important
aspect of its business philosophy - "Putting Customer First".While managing
growth, TKM has maintained its commitment to provide quality products at a
reasonable price and has made every effort to meet changes in customer needs.
TKM firmly believes that the success of this venture depends on providing high
quality products and services to all valued customers through the efforts of its
team members.

TKM, along with its dedicated dealers and suppliers, has adopted the "Growing
Together" philosophy of its parent company TMC to create long-term business
growth. In this way, TKM aims to further contribute to progress in the Indian
automotive industry, realise greater employement opportunities for local
citizens, improve the quality of life of the team members and promote robust
economic activity in India.

Empowering employees.... to achieve perfection

TKM firmly believes that employees are the main source of strength for the
organisation. The human resources management in Toyota seeks to create a
corporate culture where values such as "Continuous Improvement" and
"Respect for People" are fully reflected in all actual corporate and individual
activities . The company takes maximum care to ensure stability of employment
and strives to improve working conditions. To develop human resources and
improve the technical skills of its employees, TKM's young team members are
regularly sent to Japan, Indonesia and Taiwan for training programs. More than
400 team members have benefited from such programs at various Toyota plants
worldwide. TKM also believes in continuously improving its products and
practices. Every team member is encouraged to give suggestions to improve the
product, efficiency of processes or working conditions. They are also
appropriately rewarded for the same. Thus TKM seeks to progress by
empowering its employees.

Pursuing the greater good Recognition

At TKM, they look to continuously improve not only products but also
processes and service. Their obsession with perfection has been recognized by
various institutions such as JD Power and NFO, as well as automotive
publications like Overdrive, as the reason for the success of Toyota products in
India and across the globe.

Corporate social responsibilities

At TKM, every effort is made to contribute to society. A residential school at
Bidadi, reconstructed by Toyota, now houses 75 students, mainly belonging to
backward communities. In the aftermath of the tragic earthquake in Gujarat,
TKM and its dealers played a major role in distributing food, clothing and relief
in remote affected area. TKM also takes a lead role in contributing to the
community, distributing books and bags in local school etc.

MODE OF OPERATION

Date Of Establishment October 6, 1997

Chairman Mr. Akira Okabe

Vice Chairman Mr. Vikram S.Kirloskar

Managing Director Mr. A. Toyoshima

Mr. K. K. Swamy
Deputy MD's
Mr. Masatoshi Seki

Paid-In Capital Rs. 7 billion

Toyota Motor Corporation (99% equity)

Shareholders Kirloskar Group
(1% equity)
 Toyota Kirloskar Motors is 100% privately owned company by Toyota Motor
Corporation and Kirloskar group holding 99% and 1% equity shares
respectively.
Toyota Kirloskar Motors is not listed in either BSE or NSE as it does not have
any public holdings.

TKMs Vision

1. Contribute to Indian industry and economy through technology transfer,

human resource development and vehicles that meet global standards at
competitive price.
2. Contribute to the well-being and stability of team members.

Contribute to the overall growth for our business associates and the automobile
industry.

TKMs Mission

“mission is to design, manufacture and market automobiles in India and

overseas while maintaining the high quality that meets global Toyota
quality standards, to offer superior value and excellent after-sales
service. We are dedicated to providing the highest possible level of
value to customers, team members, communities and investors in
India.”

GUIDING PRINCIPLES

 Honor the language and spirit of the law of every nation and undertake open and fair
corporate activities to be a good corporate citizen of the world.
 Respect the culture and customs of every nation and contribute to economic and social
development through corporate activities in the communities.
 Dedicate ourselves to providing clean and safe products and to enhancing the quality of
life everywhere through all our activities.
 Create and develop advanced technologies and provide outstanding products and
services that fulfill the needs of customers worldwide.
 Foster a corporate culture that enhances individual creativity and teamwork value,
while honoring mutual trust and respect between labor and management.
 Pursue growth in harmony with the global community through innovative
management.
 Work with business partners in research and creation to achieve stable, long-term
growth and mutual benefits, while keeping ourselves open to new partnerships.

PERCEPTS

 Be contributive to the development and welfare of the country by

working together, regardless of position, in faithfully fulfilling your
duties.

 Be at the vanguard of the times through endless creativity, inquisitiveness

and pursuit of improvement.

 Be practical and avoid frivolity.

 Be kind and generous; strive to create a warm, homelike atmosphere.

Be reverent, and show gratitude for things great and small in thought and deed

Organizational Changes

1) Domestic Sales Operations Group and Overseas Planning Operations Group

  - The Domestic Sales Operations Group and the Overseas Planning Operations
 Group have been reorganized.
- Sales and planning functions, which were divided by region, i.e. domestic and
 
overseas, have been integrated.

Purpose
  As a global business management function of Toyota's global headquarters, to
allow close coordination between TMC and various regions, including Japan,
and to implement the "most-suitable growth strategy from a global perspective"
though product, price and supply-and-demand strategies

2) Government & Public Affairs Group / General Administration & Human

Resources Group
- The transfer of some divisions/departments of the General Administration &
  Human Resources Group to the Government & Public Affairs Group, have taken
place as follows:

After Changes   Before Changes

Government & Public Affairs Group   General Administration &
Human Resources Group
- Public Affairs
- Public Affairs Administration Dept. (transfer)
Administration Dept.
- Tokyo Secretarial Div. (transfer) - Tokyo Secretarial Div.
- Tokyo General
- Tokyo General Administration Div. (transfer)
Administration Div.
 Purpose
To optimize the structural organization and distribution of human resources by
 
consolidating the divisions and departments relevant to government & public
affairs

3) Production Control & Logistics Group

  -  The name of the Production Control & Logistics Group has changed.

After Change   Before Change

Strategic Production Planning
Production Control & Logistics
Group
Group
(name changed)

Purpose
  To create a name that reflects a strengthened stance toward planning that
considers the actual situation of global production activities

4) Housing Group (Housing Company)

  -  The name of the Housing Group (Housing Company) has changed.

After Change   Before Change

Housing Group (name changed) Housing Group (Housing Company)

Purpose
  To reflect the achievement of the original objective to reinforce operational
structures through the introduction of the "company" system

5) Divisions/departments not belonging to a group; Asia, Oceania & Middle

East Operations Group; China Operations Group
  -  The transfer of some divisions/departments to relevant groups.

After Changes   Before Changes

Divisions/departments not
Asia, Oceania & Middle East Operations Group 
belonging to a Group
- Taiwan Office (transfer) - Taiwan Office
China Operations Group    
- China Office (transfer) - China Office

  Purpose
 To clarify the chain of command and to optimize the structural organization and
distribution of human resources
As a result of the above changes, the number of divisions has increased from
228 to 229.

COMPETITORS

HONDA MOTOR COMPANY LTD.

Honda Motor Company, Ltd. is a Japanese multinational corporation primarily
known as a manufacturer of automobiles and motorcycles.

Honda is the world's largest manufacturer of motorcycles as well as the world's

largest manufacturer of internal combustion engines measured by volume,
producing more than 14 million internal combustion engines each year.[3] Honda
surpassed Nissan in 2001 to become the second-largest Japanese automobile
manufacturer.[4][5] As of August 2008, Honda surpassed Chrysler as the fourth
largest automobile manufacturer in the United States. Honda is the sixth largest
automobile manufacturer in the world.

Honda was the first Japanese automobile manufacturer to release a dedicated

luxury brand, Acura in 1986. Aside from their core automobile and motorcycle
businesses, Honda also manufactures garden equipment, marine engines,
personal watercraft and power generators, amongst others. Since 1986, Honda
has been involved with artificial intelligence/robotics research and released their
ASIMO robot in 2000. They have also ventured into aerospace with the
establishment of GE Honda Aero Engines in 2004 and the Honda HA-420
HondaJet, scheduled to be released in 2011. Honda spends about 5% of its
revenues into R&D.

GENERAL MOTORS ORPORATION(GM)

 General Motors Corporation (GM) is the world's largest full-line vehicle
manufacturer and marketer. Its arsenal of brands includes Chevrolet,
Pontiac, GMC, Buick, Cadillac, Saturn, Hummer, and Saab. Opel,
Vauxhall, and Holden comprise GM's international nameplates. Through
its system of global alliances, GM holds stakes in Isuzu Motors Ltd., Fuji
Heavy Industries Ltd., Suzuki Motor Corporation, Fiat Auto, and GM
Daewoo Auto & Technology. Other principal businesses include General
Motors Acceptance Corporation and its subsidiaries, providers of
financing and insurance to GM customers and dealers. In the early 2000s,
struggling under the weight of escalating healthcare and pension costs,
GM sought to shed some of its less profitable activities. Toward that end,
among other moves, the company sold its stake in Hughes Electronics,
phased out production of the Oldsmobile, and discontinued the Chevrolet
Camero and Pontiac Firebird. Facing a tough economic climate, GM has
nevertheless retained its position as the world's leading automaker

Ford Motor Company

The Ford Motor Company is an American multinational corporation based in
Dearborn, Michigan, a suburb of Detroit. The automaker was founded by Henry
Ford and incorporated on June 16, 1903. In addition to the Ford, Lincoln, and
Mercury brands, Ford also owns Volvo Cars in Sweden, and a small stake in
Mazda in Japan and Aston Martin in the UK. Ford's former UK subsidiaries
Jaguar and Land Rover were sold to Tata Motors of India in March 2008. Ford
has agreed to sell Volvo to Geely Automobile in a deal expected to be
completed in the third quarter of 2010. On June 2, 2010, Ford announced that it
would discontinue the Mercury brand in the fourth quarter of 2010.

Ford introduced methods for large-scale manufacturing of cars and large-scale

management of an industrial workforce using elaborately engineered
manufacturing sequences typified by moving assembly lines. Henry Ford's
methods came to be known around the world as Fordism by 1914.

Ford is currently the second largest automaker in the U.S. and the fourth-largest
in the world based on number of vehicles sold annually, directly behind
Volkswagen. In 2007, Ford fell from second to third in US annual vehicle sales
for the first time in 56 years, behind only General Motors and Toyota. However,
Ford occasionally outsells Toyota in shorter periods (most recently, during the
summer months of 2009). By the end of 2009, Ford was the third largest
automaker in Europe (behind Volkswagen and PSA Peugeot Citroën). Ford is
the seventh-ranked overall American-based company in the 2008 Fortune 500
list, based on global revenues in 2008 of $146.3 billion. In 2008, Ford produced
5.532 million automobiles and employed about 213,000 employees at around 90
plants and facilities worldwide. During the automotive crisis, Ford's worldwide
unit volume dropped to 4.817 million in 2009. Despite the adverse conditions,
Ford ended 2009 with a net profit of $2.7 billion. Starting in 2007, Ford
received more initial quality survey awards from J. D. Power and Associates
than any other automaker. Five of Ford's vehicles ranked at the top of their
categories and fourteen vehicles ranked in the top three.

 Hyundai Motors India Limited (HMIL)

 
A decade after the Korean War and during the period of reconstruction,
Hyundai Motor Company began its fledgling efforts at automobile
manufacturing by entering into a technology transfer agreement with Ford of
Great Britain, receiving design and styling from Ital Design of Italy, and
assembling technology from both England and Japan, all of which made the
production of our first model car, the "Pony," possible. In just ten years, in 1976
Hyundai began to export to the world market. In 1986, we entered the U.S.
market establishing the Excel as a new contender among small cars and
promoting the image of the Korean automobile industry.

 
Upon expansion of our Ulsan plant, which enabled Hyundai Motor Company to
have a large scale production base, and the founding of HM Canadian
Corporation, which established Hyundai throughout North America, we
produced a record 10 million cars and exported over 4 million, breaking records
in a short span of time. No other automobile company can boast of these figures
over such a short time span. We also poured our efforts in creating concept cars
such as the HCD-I, followed by the HCD-II and III, electric cars, and high
technology hybrid cars that will bear fruit in the future with their low pollution
emissions, safety features, and environmentally-friendly recyclable components.
From Pony to Equus, Hyundai Motor Company is committed to its growth as a
mature company, constantly keeping in mind its customer-oriented mottoes:
"Customer Satisfaction" and "Create Value for Customers."

 Maruti Udyog Limited (MUL)

It was established in Feb 1981 through an Act of Parliament, to meet the

growing demand of a personal mode of transport caused by the lack of an
efficient public transport system.

Suzuki Motor Company was chosen from seven prospective partners

worldwide. This was due not only to their undisputed leadership in small cars
but also to their commitment to actively bring to MUL contemporary
technology and Japanese management practices (which had catapulted Japan
over USA to the status of the top auto manufacturing country in the world).

A license and a Joint Venture agreement were signed between Govt of India and
Suzuki Motor Company (now Suzuki Motor Corporation of Japan) in Oct 1982.

The objectives of MUL then were:

 Modernization of the Indian Automobile Industry.

 Production of fuel-efficient vehicles to conserve scarce resources.
 Production of large number of motor vehicles which was necessary
for economic growth.
 CHAPTER 2 – CONCEPTUAL DISCUSSION

2.1 MARKETING

What is marketing?

There are many different definitions of marketing. Consider some of the

following alternative definitions:

“The all-embracing function that links the business with customer needs and
wants in order to get the right product to the right place at the right time”

“The achievement of corporate goals through meeting and exceeding customer

needs better than the competition”

“The management process that identifies, anticipates and supplies customer

requirements efficiently and profitably”

“Marketing may be defined as a set of human activities directed at facilitating

and consummating exchanges”

Which definition is right? In short, they all are. They all try to embody the
essence of marketing:

• Marketing is about meeting the needs and wants of customers;

• Marketing is a business-wide function – it is not something that operates alone
from other business activities;
• Marketing is about understanding customers and finding ways to provide
products or services which customers demand
To help put things into context, you may find it helpful to often refer to the
following diagram which summarises the key elements of marketing and their
relationships:

Figure 1.6
2.2 MARKETING CONCEPT AND ORIENTATION

It is a fundamental idea of marketing that organisations survive and prosper

through meeting the needs and wants of customers. This important perspective
is commonly known as the marketing concept.

The marketing concept is about matching a company's capabilities with

customer wants. This matching process takes place in what is called the
marketing environment.

Businesses do not undertake marketing activities alone. They face threats from
competitors, and changes in the political, economic, social and technological
environment. All these factors have to be taken into account as a business tries
to match its capabilities with the needs and wants of its target customers.

An organisation that adopts the marketing concept accepts the needs of potential
customers as the basis for its operations. Success is dependent on satisfying
customer needs.

What are customer needs and wants?

A need is a basic requirement that an individual wishes to satisfy.

People have basic needs for food, shelter, affection, esteem and self-
development. Many of these needs are created from human biology and the
nature of social relationships. Customer needs are, therefore, very broad.

Whilst customer needs are broad, customer wants are usually quite narrow.
A want is a desire for a specific product or service to satisfy the underlying
need.

Consider this example:

Consumers need to eat when they are hungry.

What they want to eat and in what kind of environment will vary enormously.
For some, eating at McDonalds satisfies the need to meet hunger. For others a
microwaved ready-meal meets the need. Some consumers are never satisfied
unless their food comes served with a bottle of fine Chardonnay.

Consumer wants are shaped by social and cultural forces, the media and
marketing activities of businesses.

This leads onto another important concept - that of customer demand:

Consumer demand is a want for a specific product supported by an ability and

willingness to pay for it.

For example, many consumers around the globe want a Mercedes. But
relatively few are able and willing to buy one.

Businesses therefore have not only to make products that consumers want, but
they also have to make them affordable to a sufficient number to create
profitable demand.

Businesses do not create customer needs or the social status in which customer
needs are influenced. It is not McDonalds that makes people hungry. However,
businesses do try to influence demand by designing products and services that
are
• Attractive
• Work well
• Are affordable
• Are available

Businesses also try to communicate the relevant features of their products

through advertising and other marketing promotion.

2.3 MARKETING MIX

The marketing mix is generally accepted as the use and specification of the four
Ps describing the strategic position of a product in the marketplace. One version
of the origins of the marketing mix starts in 1948 when James Culliton said that
a marketing decision should be a result of something similar to a recipe. This
version continued in 1953 when Neil Borden, in his American Marketing
Association presidential address, took the recipe idea one step further and
coined the term 'Marketing-Mix'. A prominent marketer, E. Jerome McCarthy,
proposed a 4 P classification in 1960, which would see wide popularity. The
four Ps concept is explained in most marketing textbooks and classes.

2.3.1 DEFINITION
Although some marketers[who?] have added other Ps, such as personnel and
packaging, the fundamentals of marketing typically identifies the four Ps of the
marketing mix as referring to:
Product -An object or a service that is mass produced or manufactured on a
large scale with a specific volume of units. A typical example of a mass
produced service is the hotel industry. A less obvious but ubiquitous mass
produced service is a computer operating system. Typical examples of a mass
produced objects are the motor car and the disposable razor.
Price – The price is the amount a customer pays for the product. It is determined
by a number of factors including market share, competition, material costs,
product identity and the customer's perceived value of the product. The business
may increase or decrease the price of product if other stores have the same
product.
Place – Place represents the location where a product can be purchased. It is
often referred to as the distribution channel. It can include any physical store as
well as virtual stores on the Internet.
Promotion – Promotion represents all of the communications that a marketer
may use in the marketplace. Promotion has four distinct elements - advertising,
public relations, word of mouth and point of sale. A certain amount of crossover
occurs when promotion uses the four principal elements together, which is
common in film promotion. Advertising covers any communication that is paid
for, from television and cinema commercials, radio and Internet adverts through
print media and billboards. One of the most notable means of promotion today
is the Promotional Product, as in useful items distributed to targeted audiences
with no obligation attached. This category has grown each year for the past
decade while most other forms have suffered. It is the only form of advertising
that targets all five senses and has the recipient thanking the giver. Public
relations are where the communication is not directly paid for and includes
press releases, sponsorship deals, exhibitions, conferences, seminars or trade
fairs and events. Word of mouth is any apparently informal communication
about the product by ordinary individuals, satisfied customers or people
specifically engaged to create word of mouth momentum. Sales staff often plays
an important role in word of mouth and Public Relations (see Product above).
Broadly defined, optimizing the marketing mix is the primary responsibility of
marketing. By offering the product with the right combination of the four Ps
marketers can improve their results and marketing effectiveness. Making small
changes in the marketing mix is typically considered to be a tactical change.
Making large changes in any of the four Ps can be considered strategic. For
example, a large change in the price, say from $19.00 to $39.00 would be
considered a strategic change in the position of the product. However a change
of $131 to $130.99 would be considered a tactical change, potentially related to
a promotional offer.

2.4 CRITICISMS

Peter Doyle claims that the marketing mix approach leads to unprofitable
decisions because it is not grounded in financial objectives such as increasing
shareholder value. According to Doyle it has never been clear what criteria to
use in determining an optimum marketing mix. Objectives such as providing
solutions for customers at low cost have not generated adequate profit margins.
Doyle claims that developing marketing based objectives while ignoring
profitability has resulted in the dot-com crash and the Japanese economic
collapse. He also claims that pursuing a ROI approach while ignoring marketing
objectives is just as problematic. He argues that a net present value approach
maximizing shareholder value provides a "rational framework" for managing
the marketing mix.

Some people claim the four Ps are too strongly oriented towards consumer
markets and do not offer an appropriate model for industrial product marketing.
Others claim it has too strong of a product market perspective and is not
appropriate for the marketing of services.

An expanded system based on Seven Ps stresses the importance of Place,

Product, Price, Promotion, People, Process, and Physical evidence

2.5 MARKET RESEARCH

Market research is for discovering what people want, need, or believe. It can
also involve discovering how they act. Once that research is complete it can be
used to determine how to market your specific product. MR-Anywhere is a very
good platform for market research and analysis

For starting up a business there are a few things that are important:
Market information
Market information is making known the prices of the different commodities in
the market, the supply and the demand. Information about the markets can be
obtained in several different varieties and formats.
Examples of market information questions are:
Who are the customers?
Where are they located and how can they be contacted?
What quantity and quality do they want?
When is the best time to sell?
Market segmentation
Market segmentation is the division of the market or population into subgroups
with similar motivations. Widely used bases for segmenting include geographic
differences, personality differences, demographic differences, use of product
differences, and psychographic differences.
Market trends
The upward or downward movements of a market, during a period of time. The
market size is more difficult to estimate if you are starting with something
completely new. In this case, you will have to derive the figures from the
number of potential customers or customer segments. [Ilar 1998]

But besides information about the target market you also need information
about your competitor, your customers, products etc. A few techniques are:

Customer analysis
Choice Modelling
Competitor analysis
Risk analysis
Product research
Advertising research
 Marketing Strategies of Toyota

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

Toyota Car Model:

Innova Camry

Avalon Matrix
 Corolla Prius    

TRUCKS:

Tacoma Tundra 
 SPORTS UTILITY VEHICLES( SUVs):

4runner Land cruiser

PRICING
As far as pricing strategy of Toyota is concerned. They are focusing on the very
segment of the market not only particular segment.  Basically they are focusing
on official and business class people 

Pricing Strategy

• Optional-Feature Pricing :
e.g. an Innova customer can order mud flaps, side steppers or other accessories.

• Promotional Pricing :

Low Interest financing : This technique is for short period and is mainly used
in festive seasons.

Longer Payment Terms : The company stretches loans over longer periods
and thus lowers the monthly payments.
Warranties and Service contracts : The company provides 3 year or 1 lakh
Km (whichever earlier) warranty on all repairs using Toyota genuine parts.

• Differentiated Pricing :
Location Pricing : Toyota cars are priced differently in different states. Car
cost remains the same across the country but the road tax and insurance rates
differ in different states.

Value – Driven Pricing method

Customers Value Price Cost Product The customers are given value in terms of
several elements like warranty, quality, customer support etc. The company thus
wins loyal customers by charging a fairly low price for a quality offering. Thus,
the company reengineers its operations to become a low–cost producer without
Sacrificing quality, to attract a large number of value-conscious customers.
.

Price List
Innova w.e.f 1st July 2010

Euro IV
Sl. No. Grade Model Seater Ex-Showroom Price Rs.
2.5 EV (Diesel) MS 8 8,25,464
1 E
2.5 EV (Diesel) PS 7 8,79,955

2 G
2.5 G (Diesel) 8 9,38,808
2.5 GX (Diesel) 8 10,31,831
3 GX
2.0 GX (Gasoline) 8 9,67,758
2.0 VX (Gasoline) 8 11,45,719
4 VX 2.5 VX (Diesel) 8 12,07,758
2.5 VX (Diesel) 7 12,03,690
 Innova Special Edition

2.5 EV (Diesel) CS 7 8,96,955

5

Euro III
Sl.
Grade Model Seater Ex-Showroom Price Rs.
No.
2.5 EV (Diesel) MS 8 8,00,464
2.5 EV (Diesel) MS 7 8,04,532
1 E
2.5 EV (Diesel) PS 8 8,50,887
2.5 EV (Diesel) PS 7 8,54,955
2 G 2.5 G (Diesel) 8 9,13,808
2.5 GX (Diesel) 8 10,06,831
3 GX
2.5 GX (Diesel) 7 10,02,763
2.5 VX (Diesel) 8 11,82,758
4 VX
2.5 VX (Diesel) 7 11,78,690

Innova Special Edition

2.5 EV (Diesel) DS 7 8,71,955

5

Land Cruiser Prado w.e.f 9th April 2010

Sl. No. Grade Transmission Ex-Showroom Price Rs.

1 VX - L Automatic 53,28,000

Land Cruiser 200 w.e.f 9th April 2010

Sl. No. Grade Transmission Ex-Showroom Price Rs.

1 VX Premium Automatic 86,08,000
2 VX Standard Automatic 84,52,000
Fortuner w.e.f 9th April 2010

Sl. No. Grade Transmission Ex-Showroom Price Rs.

1 FA Manual 19,35,320

Prius w.e.f Ist April 2010

Sl. No. Grade Ex-Showroom Price Rs.

1 Z3 27,08,500
2 Z4 28,40,500

Camry w.e.f 9th April 2010

Sl. No. Grade Transmission Ex-Showroom Price Rs.

1 W1 Manual 21,58,220
2 W2 Automatic 23,22,050
3 W3 Manual 22,09,340
4 W4 Automatic 23,73,170

Corolla
Altis w.e.f 12th July 2010

Altis Petrol
Sl. No. Model Ex-Showroom Price Rs.
1 1.8J 10,02,270
2 1.8G 11,72,340
3 1.8GL 13,04,900
4 1.8VL 14,03,050

Altis Diesel
Sl. No. Model Ex-Showroom Price Rs.
1 D-4D J 10,95,000
2 D-4D G 12,73,000
3 D-4D G(L) 13,75,000
Generic Strategies - Michael Porter (1980)
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?

Figure 1.7

The generic strategies are:

1. Cost leadership, 2. Differentiation, and 3. Focus.

1. 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 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.

Customer satisfaction
Toyota's believes in putting the customer first and aims to provide the best
levels of customer satisfaction as its main marketing strategy. Their dealers
have also worked hard to provide their high levels of customer support."

"In the last one year, Toyota has taken many initiatives, which has made Innova
the most successful product. Innova has successfully become a category creator.

We will continue to meet the ever-challenging customer expectations and will

come out with innovative marketing strategies.

With a change of guard at Toyota Kirloskar Motor Ltd., the company has
evolved a new strategy to capture 15 per cent market share in the Indian
automotive segment. Effective from January 1, Atsushi Toyoshima has been
appointed Managing Director of the company, replacing Sachio Yamazaki.
"Competition is intense in the Indian market for domestic and foreign
companies. The Indian market is important for Toyota with potential to aid
its growth strategy," Yoshio Ishizaka, Executive Vice-President, Toyota
Motor Corporation, said. According to analysts, the Indian market would touch
annual sales of 1.2 million units by 2005. Last year, Toyota sold 3.8 million
units overseas, manufacturing six million vehicles at 56 plants in 25 countries.
In India, the Toyota Quails notched sales of 25,000 units since its launch last
year, he said. Toyota's strategy to corner a significant chunk of the Indian
market involves "superior product offering and dedicated technology". In
this context, the change of leadership in Toyota's Indian division is important,
indicating a more important role for the company's manufacturing base in
Bangalore.

"Bangalore is an ideal location to meet all of Toyota's needs, including auto

components," Mr. Toyoshima said According to the managing director of
Toyota Kirloskar Motor, Atsushi Toyoshima, the decision to introduce Innova
here (India) was based on three factors. First, over the last five years, the C-
segment (between Rs 5 lakh to Rs 10 lakh) of the car market has grown by 20
per cent every year. The multi utility vehicle segment has also grown at double-
digit levels. Second, with an improving lifestyle and better roads, the Indian
consumer wants to take his vehicle for long drives with friends and family.
Third, there is a latent desire of customers, including those owning MPVs, to
seek attributes like greater interior space and overloading ability, while
passenger car buyers look for better styling and improved riding comfort.
Innova brings together the space and fuel economy of an MPV with the style,
agility and power of a sedan. Toyota Kirloskar Motor has described it as the
first three-row seating passenger car in the Indian market.

Growth of Toyota
Lasting growth for Toyota will depend on aligning our interests with the larger
interests of customers and the community. We must be a company where people
think seriously about the role and responsibility of their company in the world.

Our economic and industrial contribution in each region grows, for example, as
we globalize our operations. Another way to align our interests with the larger
interests of the community is through technology.

By the end of 1997, we will introduce the world's first new-energy transport that
is commercially competitive with conventional automobiles. That is when we
will put a hybrid-electric passenger car onto the market in Japan. Our hybrid-
electric car will have a gasoline engine to generate electricity or provide
supplementary power to the wheels. It is twice as fuel-efficient as
conventionally powered vehicles of comparable size and performance. Equally
important, the value of its potential fuel savings could prove greater than its cost
premium over conventional vehicles. So, it actually could save money for car
owners.
Survival and growth in our industry will hinge on developing technologies for
reducing environmental impact of our products and operations, as well as
improving vehicular safety. Photos and text on the following pages introduce
some of the technologies we are developing to position Toyota as an
environmental leader

Priorities for Toyota in the growth strategy :

 fortifying our product line

 asserting a competitive edge in technology
 accelerating globalization
  reclaiming market share in Japan
 cultivating demand in new business sectors

Measures for asserting a competitive edge in technology have centered on

environmental themes. We have introduced or demonstrated new power train
technologies in the past year that will make Toyotas run cleaner and greener
than ever. Those technologies include...

 a direct-injection system that makes gasoline engines more efficient

 hybrid-electric systems that double fuel efficiency and reduce noxious
emissions
 pure electric, "zero emission" vehicles that alleviate urban pollution
 Fuel-cell systems that could transform the automobile in the 21st century.

Market share of Toyota

Toyota Motor Corp. grabbed more U.S. retail market share than Ford Motor Co.
in early November and it was less than one share point behind General Motors
Corp.,

Toyota, Japan's largest automaker, had a 15.4 percent U.S. retail market share a
year earlier.

Toyota plans to enter small car segment in India

World’s second largest automaker wants to get offensive in the Indian domestic
auto market. Toyota is very much interested in launching a small car here in the
segment currently dominated by Maruti Suzuki and Hyundai. Tata also has a
decent presence in the market with their Indica range of diesel vehicles. Toyota
is at the moment carrying out a feasibility study for launching such a vehicle in
the domestic market where it has models like the Innova and Camry amongst
others. They have had an incredible success with their stopped Qualis model
and are selling Toyota Innova in large numbers. T Ino, director (marketing),
Toyota Kirloskar Motor Pvt Limited has expressed that the Indian auto market
is a huge one and has the capacity to involve more players in the small car
segment.
Toyota has a variety of interesting models in its global lineup, which it can
consider to launch in the Indian market. Some of these are Vios, Platz, and
Passo. The company also expects to break even here in India this year with all
the accumulated losses were expected to be wiped out during 2005. They also
plan to invest around Rs 130 crores during the current year to enhance
efficiency.
Toyota also plans to open up another manufacturing plant here in India and is
currently looking for a location, which suits its requirement.

DISTRIBUTION NETWORK
 Figure 1.8

TKM has a total strength of 52 Dealers across 38 Cities.

The Marketing Distribution Channel of Toyota Kirloskar Motor India, the
Manufacturer of Corolla, is a Single Level Channel depicted as under:
 Manufacturer-TKM India, Bangalore

Toyota Flagship Dealer

Consumer

TRAINING OF THE DEALERS

The interface between the consumers and the company are the Dealers.
As they act as a window for the company, the company provides
extensive training to its Dealers for marketing and selling its products.
The training programs are very extensively designed to meet the specific
needs of the dealer and the area which that particular dealer caters to.

MOTIVATING THE DEALERS

The company views the dealers in the same way as its customers or end users. It
very keenly understands the Dealers’ specific needs and problems. It provides
the dealers with all kind of possible support it can. It also provides marketing
and sales promotion assistance to its dealers which acts as a motivator for the
dealers. The dealerships have to meet pre defined standards for Cleanliness,
Appearance and Service.

EVALUATION OF DEALERS

The company periodically evaluates its dealers’ performance against certain

specified standards like
1.Sales 2.Inventory levels 3.Customer Delivery time 4.Customer Satisfaction
Index.
Time to time, Dealerships’ Surveys are conducted by company officials and
then rankings are given to the dealers.

“The dealers having high ranking are given incentives. The underperformers are
provided with customized counseling, training and motivation.”
PROMOTIONAL STRATEGIES

The Promotion for Toyota Corolla consists of a blend of activities making its
Promotion Mix. Its Promotion Mix consists of almost all the possible techniques
of Promotion used for any other product. Some of the major elements of
Promotion Mix of Toyota Corolla are listed as under:

Advertising

Brochure
Posters/Leaflets
Print Advertisements
TV Commercials
Bill Boards
Display Signs
POP Displays
Symbol/Logo

Sales Promotion

Fairs and trade Shows

Public Relations

Annual Reports
Seminars
Charitable Donations
Community Relation

Personal Selling

Individual Sales
Corporate Sales
Sales Presentations
Fair and trade Shows

Direct Marketing

Catalogs
Mailings
Telemarketing
Advertising

It uses many different techniques of Advertisement as a part of its

Advertising Strategy.

Most of the Print Ads of Toyota Corolla are individually targeted at one of
these factors such as Comfort, Performance, Styling, Power, Leg Room,
Design, Driving Pleasure. One most common feature of almost all the
Ads is that in every Advertisement, the fact that it is the World’s Largest
Selling Car and its presence across 160 countries is present. This is
done to because the company wants to differentiate the product in terms
of its Reliability that it is an entrusted brand of 30 Million people across
the globe. The fact that it is present in 160 countries proves that it is a
Global Car.

There are 6 TV Commercials of this Car in India. The Commercials show

that this Car is targeted mainly at the Indian youth and young Executive.
It has been positioned as a little sportier, which is the main reason that it
is for young people and is also like by them too.

The Brochures, Posters/Leaflets are such designed that shows that Corolla is a
car for people who demand Performance, Style, Power and Sheer Driving
Pleasure. The car being a perfect combination of these factors makes it a huge
success across its segment.

The Other Sources of Advertisement include Bill Boards, Display Signs,

POP, Displays, Symbol/Logo. The company does the Advertising of
Corolla by displaying Bill Boards and Display Signs at various target
places where it feels that prospective buyer will come across it. At the
showroom also, there are huge amount of Point Of Purchase Displays
and also Symbols/Logo which add to it.
Sales Promotion
One of the major sources of Sales Promotion is Trade Fairs like AUTO EXPO,
MOTOR SHOW etc. The company used to take part in these types of fairs and
used it for its Sales Promotion. But now the trend is shifting because the
company thinks that if they want to launch a product on a National Level, then
there is no need for such kind of shows as now there are various other powerful
sources of media available to them. Moreover the cost spent on these kind of
fairs was not justified. So therefore the company is now keeping away from
fairs.

Some other Sales Promotion technique used by the company is the Festival
Season Offers it introduces in the market at the time of Diwali, New Year,
Christmas, Navratri etc to boost short term sales.

Public Relations and Community Building Excercise

 Contribution to Tsunami
 Toyota Kirloskar Motor wins Best Ornamental Garden award for its
landscape
 Toyota Kirloskar signs MoU with Bangalore University for promotion of
Japanese Language
 Toyota observes earth day by supporting local schools
 Organizing Drawing/Painting Competition on ‘Me and my Environment’
for kids from Govt. Schools.
Personal Selling
Personal Selling largely takes place at the Dealers’ End. The way the customer
is attended depends mainly on the Dealer as he acts as an interface between the
company and the Consumer.

The various cases in which Personal Selling takes place is Individual Sales,
Corporate Sales, Sales Presentations, Fair and trade Shows. Mostly in case of
Individual Sales the Customer goes to the showroom and takes a look at the
product. There he is attended to by the Sales Personnel of the Dealership.
Sometimes the Senior Sales Executive has to make Sales Presentation to
Corporate Buyers. Personal Selling is also practiced at Trade Fairs and Auto
Shows wherein the Company appointed Sales Personnel attend prospective
customers and also book their orders.

Direct Marketing
In the case of Direct Marketing the Company Officials directly contact the

Prospective buyers with the information available through various sources. For

example in case of Road Shows, Trade Fairs, Auto Shows etc. Sometimes the

existing customers also provide references of prospective buyers such as their

friends or relatives.
 CHAPTER 3: OBJECTIVE AND METHODOLOGY

3.1 SIGNIFICANCE

Toyota's believes in putting the customer first and aims to provide the best
levels of customer satisfaction as its main marketing strategy. Their dealers
have also worked hard to provide their high levels of customer support." 

"In the last one year, Toyota has taken many initiatives, which has made Innova
the most successful product. Innova has successfully become a category
creator. 

We will continue to meet the ever-challenging customer expectations and will

come out with innovative marketing strategies. 

With a change of guard at Toyota Kirloskar Motor Ltd., the company has
evolved a new strategy to capture 15 per cent market share in the Indian
automotive segment. Effective from January 1, Atsushi Toyoshima has been
appointed Managing Director of the company, replacing Sachio Yamazaki.
"Competition is intense in the Indian market for domestic and foreign
companies. The Indian market is important for Toyota with potential to aid its
growth strategy," Yoshio Ishizaka, Executive Vice-President, Toyota Motor
Corporation, said.
According to analysts, the Indian market would touch annual sales of 1.2
million units by 2005. Last year, Toyota sold 3.8 million units overseas,
manufacturing six million vehicles at 56 plants in 25 countries. In India, the
Toyota Quails notched sales of 25,000 units since its launch last year, he said.
Toyota's strategy to corner a significant chunk of the Indian market involves
"superior product offering and dedicated technology". In this context, the
change of leadership in Toyota's Indian division is important, indicating a more
important role for the company's manufacturing base in Bangalore.

"Bangalore is an ideal location to meet all of Toyota's needs, including auto

components," Mr. Toyoshima said

According to the managing director of Toyota Kirloskar Motor, Atsushi

Toyoshima, the decision to introduce Innova here (India) was based on three
factors. First, over the last five years, the C- segment (between Rs 5 lakh to Rs
10 lakh) of the car market has grown by 20 per cent every year. The multi utility
vehicle segment has also grown at double-digit levels. Second, with an
improving lifestyle and better roads, the Indian consumer wants to take his
vehicle for long drives with friends and family. Third, there is a latent desire of
customers, including those owning MPVs, to seek attributes like greater interior
space and overloading ability, while passenger car buyers look for better styling
and improved riding comfort. Innova brings together the space and fuel
economy of an MPV with the style, agility and power of a sedan. Toyota
Kirloskar Motor has described it as the first three-row seating passenger car in
the Indian market
3.2 MANAGERIAL USEFULLNESS

The marketing department can use this study to enhance their marketing
strategies for better sales. This report helps the marketing department in taking
decisions to what change in distribution channels and what should be done so
that marketing problem could be sorted out and how to sell their range of
product in the competitive market.

The very essence of every project related to marketing is providing a view to

management for chalk out the organization, so that they can maintain a viable fit
between the organizational objectives, skills and resources and its changing
market opportunities. also give a proper shape to company's target profit and
growth. it provides feedback to the organization about their sales, sales schemes
and what impact does it has on the dealers and consumers. every market
research provides useful suggestions to the organization. marketing research
helps the firm in every component of the total marketing task. it helps the firm
acquire a better understanding of the buyer, the competition and the marketing
environment. it also aids the formulation of the marketing mix. product.
distribution and pricing needs. it also helps in taking the information of
competitor's strategies and their impact on the buyer. the study reveals the fact
that may have come up during the project and these facts can either be used a
opportunities in exploring and expanding the business as well as can be used as
safeguard against threats by competitors to prepare an effective marketing
strategy. Every market research proves useful to the organization. Marketing
research helps the firm in every component of total marketing task.
3.3 OBJECTIVES OF STUDY

The object of report is not only to focus on competitors but also to get the
competitive position in the national as well as international market through
customer satisfaction. These are as follows.

 To discover and translate the needs and desire of customer into products
and services so as to create the demand of the product (through planning
and producing planned product).
 To serve the customer through channel of distribution.
 To face the keen competition.
 To know about the marketing strategies used by Toyota.
 To know about the marketing strategies of the competitors of Toyota.
 To find out the market share of Toyota.
 To know where Toyota stands as far as the BCG –matrix models
concerned.

3.4 SCOPE OF THE STUDY

These are some of the scope of the study :

 1. The present study can be extended to access the present marketing
condition of Indian automobile sector.

2. The study can be used to design a proper product, price, place and
promotional strategy for the market.

3. From the present study we can know the market share of different
products and accordingly formulated strategy to enhance it.

4. The result of marketing success can be interpreted to assess the rate of

employee satisfaction in various departments.

5. This study can be applied to find out an effective distribution channel to

enhance the sale of various products of Toyota motors.

3.5 RESEARCH METHODOLOGY

This project depends upon the primary as well as secondary sources which are
as follows. 

Primary Source:

 Observation

 Experiment

 Talking with consumers,retailers and distributors.

Secondary Source:

 Balance sheet of the company

 Company website

3.6 SAMPLE SIZE AND AREAS COVERED

A customer-based survey was conducted in which 100 people people belonging

to citie of Amritsar and nearby locations were asked to fill the questionnaire
Because it was not possible to consider each and every person of those cities or
of villages so, PROBABILITY SAMPLE or RANDOM SAMPLE was taken.

3.7 STATISTICAL AND PRESENTAION TOOLS

PRIMARY DATA is represented:

 First classified i.e. grouped qualitatively and quantitatively according to
the situation or the type of the data which was collected.
 After classifying is represented in the form of tables i.e. systematically
arranged in columns and rows.
 Some of the data is also graphically represented in the form of PIE
DIAGRAM.

SECONDARY DATA is represented:

  In the form of tables.
 By the way of BAR GRAPHS and SUBDIVIDED BAR GRAPHS
(Graphical presentation).

3.8 LIMITATIONS OF THE STUDY

Since the road to improvement is never ending, so this study also suffers from certain
limitations. Some of them are as follows:

 Because of illiteracy, it was a time consuming method in which continuous guidance

was required.
 Questionnaire method involves some uncertainty of response. Co-operation on the part
of informants, in some cases, was difficult to presume.
 It is possible that the information supplied by the informants may be incorrect. So, the
study may lack accuracy.
 CHAPTER 4 - DATA ANALYSIS

4.1 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 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

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 it narrow 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 and Australia.  

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.
 4.2 COMPETITVE S.W.O.T ANALYSIS

STRENGTH

In an era when owning a car was a distant dream for a vast majority of Indians,
MUL rolled out its first car, the M800. The company labeled it a people's car,
with a 796cc 3-cylinder engine that delivered 39.5bhp at an affordable price of
Rs. 65,000. The first vehicle was released for sale in December 1983. Initially,
the car was criticized for its diminutive size, but it proved to be spacious enough
to carry four adults. Better technology and an affordable price due to a higher
level of indigenization helped MUL achieve a dominant position in the Indian
passenger car market 

WEAKNESS 

MARUTI SUZUKI’s biggest weakness, is the lack of product design capability.

In the coming years, they should focus on acquiring product design and lean
production know-how (as the Korean firms did in the eighties and early
nineties). Also the Research and developments headquarters for engine
development of Maruti Suzuki are in Japan which is a major weak point.
Maruti Suzuki also needs to invest in capacity and research and development in
India to stay abreast of competition.
THREAT

M800 had ruled the passenger car market as the only car in the entry-level
segment in the Indian automobile industry and was now facing the danger of
cannibalization from one of its own family members, Alto For the first few
months of 2004, M800 performed well, selling 15,301 units in January, 13,518
units in February and 15,540 in March. But gradually Alto, another MUL
product, began eating into M800's share. Alto reported sales of 8,399 units,
8,324 and 9,011 units in January, February and March respectively. In April, its
sales increased to 9,350 units and in May 2004, Alto took over M800's position
as the largest selling car with sale of 10,373 units, slightly over M800's sales of
10,016 units. Analysts felt that Alto had taken the top spot because of its price
reduction in September 2003 by Rs. 23,000 followed by the launch of the non-
AC Alto for Rs. 0.23 mn in the first week of April 2004.
 FINDINGS BASED ON
QUESTIONNAIRE

4.1 PERCENTAGE OF TOYOTA OWNERS

OWNERS OF TOYOTA

YES
24%
YES
NO
NO
76%

Figure 1.9
INFERENCE:

 24% of the respondents were owners of TOYOTA

 76% of the respondents were owners of other car brands

4.2 CUSTOMER SATISFACTION RATING

CUSTOMER SATISFACTION

17%

SATISFIED
DISSATISFIED

83%

Figure 2.0

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.
4.3 PREFERENCES OF BUYING A NEW CAR

PREFERENCES OF BUYING A NEW CAR

40
30
20
10
0
TOYOTA HYUNDAI MARUTI HONDA

Figure 2.1

INFERENCE:

 18% of the respondents would prefer to buy a Toyota car against its competitors.

 37% of respondents preferred for Maruti.

 21% and 24% respectively preferred for Hyundai & Honda.

4.4 WHERE DO YOU MANAGE TO FIND INFORMATION ABOUT
TOYOTA

INFORMATION ABOUT TOYOTA

12%
DEALERS
20%
PRINT MEDIA
T.V.
55%
INTERNET
13%

Figure 2.2

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.
 4.5 TOYOTA CARS HAS THE MOST FUEL EFFICIENCY

FUEL EFFICIENCY OF TOYOTA

100 78
80
60
40 22
20
0
YES NO

Figure 2.3

INFERENCE:

 78% of the respondents felt that Toyota has the most fuel efficiency.

 While 22% felt it isn’t the most fuel efficient.

4.6 THE FEATURES OF TOYOTA AS COMPARED TO OTHER CARS

FEATURES OF TOYOTA
12%

8%
GOOD
10% VERY GOOD
NOT SO GOOD
70% SATISFACTORY

Figure 2.4

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.
 4.7 THE QUALITIES THAT BEST DESCRIBES TOYOTA

FEATURES THAT BEST

DESCRIBES TOYOTA
38
40
29
30
18
20 15
10
0
HANDLING FUEL DESIGN COMFORT
EFFICIENCY

Figure 2.5

INFERENCE:
  Toyota is best known for its design & comfort.

 Then comes Handling and Fuel Efficiency.

4.8 HOW DO YOU FIND THE INTERIORS OF TOYOTA

INTERIORS OF TOYOTA
7%
3%
GOOD
16%
VERY GOOD
NOT SO GOOD
SATISFACTORY
74%

Figure 2.6

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.
 4.9 WHAT SHOULD BE DONE TO IMPROVE TOYOTA ?

WHAT SHOULD BE DONE TO

IMPROVE TOYOTA
13%
MAKE IT MORE
15% AFFORDABLE
CHEAPER SPARE
PARTS
72% MORE SERVICE
STATIONS

Figure 2.7

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.

4.10 WHAT SHOULD BE DONE TO MAKE TOYOTA THE BEST

CAR

WHAT SHOULD BE DONE TO MAKE

TOYOTA THE BEST CAR
MAKE IT MORE
15 FUTURISTIC

MAKE IT MORE
10 SPORTY

GIVE IT A RETRO
60 LOOK
15
GIVE IT A
CONCEPT CAR
LOOK

Figure 2.8
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.

4.11 ARE YOU HAPPY WITH THE AFTER SALES SERVICES PROVIDED

BY TOYOTA

HAPPY WITH AFTER SALES

SERVICES PROVIDED BY TOYOTA

15%
HAPPY
UNHAPPY

85%

Figure 2.9

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.
CHAPTER 5 – FINDINGS AND RECOMMENDATIONS

5.1 FINDINGS
 24% 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.
 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.

5.2 RECOMMENDATIONS

 Toyota should adopt the defensive marketing strategy because as being

the second largest car producer in the international market,
 Toyota motor is currently launching its product in India for high class. It
should also focus on middle class
 Toyota must at the moment carry out a feasibility study for launching a
vehicle in the domestic market where it has models like the Innova and
Camry amongst others.
 Toyota should conduct market survey in Indian market for quails in order
to know the perception of Indian consumers.
 Toyota should adopt an offensive marketing strategy for entering in the
small car segment. This market is dominated by Maruti Suzuki and
Hyundai in the Indian domestic auto market.
 Toyota must plan out an ideal marketing producing capacity ,becaue it
faces the problem of over and under capacity in case of upturn and
downturn of the market.
 QUESTIONNAIRE FOR CONSUMER

A) NAME

B) ADDRESS

C) CONTACT NUMBER

D) INCOME GROUP

_________15,000-25,000 _________25, 000-50,000

_________50,000-75,000 _________Above 75,000

1. DO YOU OWN A CAR?

o YES NO

IF YES, THEN WHICH ONE?

(i)TOYOTA (ii) HYUNDAI (iii) MARUTI

2. HOW SATISFIED ARE YOU WITH THE SERVICES OFFERED BY TOYOTA

(i)SATISFIED (ii) DISSATISFIED

3. IF SATISFIED, THEN ARE YOU HAPPY WITH THEIR CHARGES AND

TIMELY DELIVERY THEY WERE OFFERING?

(i)HAPPY (ii) UNHAPPY

4. IF GIVEN A CHOICE TO CHOOSE A CAR COMPANY, WHICH COMPANY

WOULD YOU CHOOSE?

(i) TOYOTA (ii) MARUTI (iii) HYUNDAI

5. WHERE DO YOU MANAGE TO FIND INFORMATION ABOUT TOYOTA ?

(i)DEALERS (ii) PRINT MEDIA

(iii)T.V. (iv)INTERNET

6. DO YOU THINK TOYOTA HAS THE MOST FUEL EFFICIENCY (i)YES

(ii) NO

7. HOW DO YOU FIND THE FEATURES OF TOYOTA AS COMPARED TO

OTHER CARS?

(i)GOOD (ii) VERY GOOD

(iii)NOT SO GOOD (iv) SATISFACTORY

8. WHICH OF THESE QUALITIES DO YOU THINK BEST DESCRIBES

TOYOTA ?

(i)HANDLING (ii) FUEL EFFICIENCY

(iii)DESIGN (iv)COMFORT

9. HOW DO YOU FIND THE INTERIORS OF TOYOTA ?

(i)GOOD (ii) VERY GOOD

(iii)SATISFACTORY (iv) NOT SO GOOD

10. ACCORDING TO YOU WHAT SHOULD BE DONE TO IMPROVE

TOYOTA ?

(i) MAKE IT MORE AFFORDABLE

(ii) CHEAPER SPARE PARTS

(iii)MORE SERVICE STATIONS

11. ACCORDING TO YOU WHAT SHOULD BE DONE TO MAKE TOYOTA

THE BEST CAR?

(i)MAKE IT MORE FUTURISTIC

(ii)MAKE IT MORE SPORTY

(iii)GIVE IT A RETRO LOOK

(iv)GIVE IT A CONCEPT CAR LOOK

12. ARE YOU HAPPY WITH THE AFTER SALES SERVICES PROVIDED BY

TOYOTA ?

(i)YES (ii) NO (iii) HAPPY BUT IT CAN BE BETTER

BIBLIOGRAPHY

Books:

Jeffrey liker(2003),Toyota way, McGraw Hills, New York, PP 330-345

Kotler Philips(2007), Marketing Management, McGraw Hills, 30th Edition,

New Delhi, PP 420-437

Magazines:

Business standard Motoring july 2010 edition

Autocar india july 2010 edition

Internet:

www.google.com

www.toyota .com

www.toyotabharat.com

www.toyota-industries.com

www.wikipedia.com

www. enotes.com