International Strategic Marketing Essay Example | Topics and Well Written Essays - 5000 words

International Strategic Marketing - Essay ExampleFor more than a decade now the automotive industry has been facing issues such as slow time to foodstuff, costly inventories, overcapacity, and low customer satisfaction and loyalty (Deloitte, 2003). In an attempt to overcome these challenges the automakers have been launching numerous initiatives to boost profitability to create value. They have been introducing product innovation to lean manufacturing and customer relationship management. The auto industry is nearing a major turning point where it has become essential to adopt strict regulations like U.S. Corporate Average Fuel Economy (CAFE) regulations and europiums CO2 regulations (Toyota website).The Big Three in the US have been replaced by the Big Six (Toyota, Honda, Nissa, GM, Ford, DC) in the automotive industry with Toyota emerging the market leaders. It is now Americas third most admired organization and enjoy a 17.4 percent share of the US retail market (SD, 2007). It h as a small market share in Europe but is a market leader in Australia while also selling cars in Africa (Glover, 2006). ascribable to its Daihatsu subsidiary it has a presence in the Southeast Asian countries. Toyota Motor Company is clearly one such automaker that has thrived where other manufacturers have struggled. In 2002 Toyotas earnings exceeded the combined earnings of Ford, GM and DC (SD, 2004). Toyota has been innovative in its strategy and its success lies in its corporate philosophy known as the Toyota Production System. Toyota is now the worlds richest car company and this is the reason that this company has been chosen to understand the strategy that they have been pursuing.TMC created the first prototype vehicle in 1935 and started its exports to the United States in 1957 (Company Website). The company gradually expanded its scope across the entire globe and today has its presence in 170 countries and