Corporate strategy and BCG matrix for Toyota

Corporate Strategy and BCG Matrix for Toyota
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Corporate Strategy and BCG Matrix for Toyota
Toyota is an automotive industry based in Japan built up in 1937 by its founder Saki Chi Toyota. The company is now ranked as the world's largest producer accounting for up to 9 million vehicles. The company has been successful in the market, especially with the quality of products they are producing. Its market share makes the company gain high revenues, driving force towards its growth and achieving eminent competitive advantage (Nkomo, 2019). The company has implemented various strategies which make it viable within the market regardless of the dynamic market and existence of other competitors such as Nissan, Ford, Suzuki, Hyundai, Volkswagen, to mention a few.
The strategies of Toyota are categorized into growth strategy, marketing strategy, and environmental strategy. Toyota's growth strategy is accomplishing exceptional development techniques by discovering and accessing various market methods. The company has been on the verge of achieving this strategy by propelling different brands such as Lexus and scion. Toyota's marketing strategy involves producing eco-friendly vehicles such as the Auris Half (Tomczak et al. 2017). The company has also advertised fuel-efficient vehicles such as the 1-liter vehicles including Toyota IQ and Aygo to fit customers with low income. The environmental strategy of Toyota is tossing less CO2 discharge to the environment. The company has shifted its focus to electric and solar-controlled cars to ensure that the CO2 impact on the environment is limited.
SWOT Analysis
The SWOT analysis involves evaluating the company through the lens of strengths, weaknesses, opportunities, and threats. Concerning Toyota's strengths, the company is a worldwide automotive industry; thus, it has most clients in the industry. The company has an eminent financial standing, with the company developing a business turnover of £131,511 million. Furthermore, the company has a developed a good brand reputation, especially with Lexus's production that offers a new experience to its customers (Van Hijfte, 2020). Moreover, the company has extended its market to primary markets, including China, the USA, and Middle East nations such as the UAE.
Toyota's weaknesses are its production geography as it is not ideal in exploiting the worldwide market effectively. Toyota's production site is situated in the US, and Japan is not a strategic market position since transportation to various markets is more costly. The company can exploit the opportunity because it has a mixtur...