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TOYOTA Globalization Strategy5.pdf
An Analysis of Toyota’s Marketing Strategy
- Surendra Bhandari1
[available at: /sol3/papers.cfm?abstract_id=1624068 ]
Abstract
Toyota was established in 1937 in Japan. First time it introduced its product Corona in the
US in 1965. By the 70’s, Toyota was the best-selling import brand in the US. During the 80’s, it
started manufacturing vehicles in the US. In 2006, it had globally become the second largest car
seller and third largest car sellers in the US having more than fifteen percent market share. It is
estimated that by 2008 it is going to be the number one car producer and seller both in the US
and across the world. This profound success of Toyota is associated with its most proficient
market strategy. The case of Toyota notably proves that how important is market strategy in the
life of a company to be a market leader.
1. Mission
Toyota’s mission statement is as follows:
“To sustain sustainable growth by providing the best customer experience and dealer
support.” (Toyota, 2007)
Customer satisfaction is the driving force for Toyota, which inspires it to provide the highest
quality products and services. “Kaizen” is a word that Toyota upholds, which means “continuous
improvement” of its technology, products, and services. In short, Kaizen for customer
satisfaction is Toyota’s mission. Toyota further explains its mission as follows:
1 Dr. Bhandari can be contacted at: bhandarisurendra@
“Around here our values are just like yours. We are hard working. We are active in
community. We are creating jobs. We celebrate our diversity. We are building cleaner greener
cars. And this is just the beginning.” (Toyota, 2007)
2. Distinctive Competencies
Among others, three distinctive competencies of Toyota a
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