In the corporate world today, various industries have been marred by challenges that determine the failure or success of a company. Technological advancement within the 21st century has contributed immensely to the stiff competition within the market today (Wilkinson 33). This has led to the decreased rate of employment and reduced market shares. In order to deal with such market challenges and stiff competition, various companies have come up with new strategies and tactics that have enabled them to stay in the market despite the threats they face. In relation to this, the Automobile industry in the U.S is facing threats of closure from its competitors in Korea, Europe and Japan whose sales volumes and market shares have improved significantly due to the effective utilization of the principles of strategic management. Therefore, the article will focus on the strategies and tactics that companies are using to keep them strong within the international market despite the still competition posed by their competitors (Hitt et al. 47). Mitsubishi Motors and Toyota are the two leading major automakers which will be analyzed in order to find the tactics and strategies that they have employed in their operation in order to achieve their spectacular success in the market.
Tactics and Strategies of Mitsubishi Motors
Mitsubishi Motors is one of the automobile makers that has created a competitive challenge to its rival automakers. The company has been able to sail through the stiff market and has maintained its brand in the highest quality. With various strategies and tactics, the company has made evolution in the automobile industry. Various strategies have been put in place in order to produce the best brand that will be enjoyed by its customers (Miller 88). Therefore, the focus will be based on the distinctive competencies, pricing, marketing, order qualifiers and winners, customer satisfaction and the marketing strategies and tactics employed by this company in order to be successful within the international market.
Distinctive Competencies of Mitsubishi Motors
The company has come up with technical skills and best practices that have made it to have outstanding competencies within the market. The competencies of this company have made it more competitive due to its creative and unique products have enhanced its survival in the international market. The automaker has differentiated its vehicles using the latest technology in design, materials and performance, making the company to expand its leadership portfolio in the global market as a reputable car manufacturer (Miller 56). The company has been able to acquire some related strategies from other successful companies like Toyota. Furthermore, the company has a motivating compensation package and an inclusive training program that promotes efficiency and productivity. The company is able to deal with supervision challenges of its employees. Its workforce has been the key to success and therefore, the company has created an impulsive advantage over its competitors.
The marketing strategy of Mitsubishi Motors has been defined as the best marketing strategy globally. The company has been able to open market links worldwide. The tactics of incorporating various advertising teams and global marketing plans have enabled the company to adjust significantly to the changes in the corporate world today (Pederson 101). Though the marketing challenges have been a key reason for the drop of its products sales, the company is still ensuring that it markets its products unique from other products in the market segment.
Order Winners and Order Qualifiers
Mitsubishi Motors has a wide range of product aspects and characteristics that make the company make more sales. The company has some order winner's goals that have enabled the organization to thrive within the global market. Through its improved product design, the company has been able to offer its customers with a wide range of products in order to meet their needs. The company has also employed the Toyota aspects of engineering their products (Miller 78). However, this has been a motivation to make it an order qualifier. The Mitsubishi hybrid cars designed for any type of customers has been a tactic and strategy that has made the organization to be an order winner.
The company has ensured that it maintains a relevant number of employees meet the marketing demands of their products. The company's operation systems have been improved in order to make the manufacturing system easy and reliable. Mitsubishi Motors has a technologically advanced management system that has enabled the company to produce high quality products. Apart from that, the company has a structured corporate governance system that has ensured that there is innovation within the company to meet the ever increasing demand for its products (Hitt et al. 71).
The Mitsubishi Motors products have been made available globally. Though their products are not as cheap as those of Toyota, the company has ensured that their products price is friendly and that there is uniqueness of products in terms of quality, reliability, durability, design and performance. Loyal Mitsubishi customers value the company's products and have been a key pillar to the company's growth (Wilkinson 92). Recently, the company has come up with a pricing strategy that has enabled it to make more sales in order to gain the leadership position globally. However, the company is coming up with various car breeds that will be much cheaper in order to ensure they make more sales globally.
The Mitsubishi Motors Company has been able to maintain the standards of its products. The organization uses modern breeds of the manufacturing machines leading to the production of high quality products essential for market success and customer satisfaction. Though the company has been hit by various criticisms about product vaults, the Mitsubishi has been able to rectify their mistake by producing quality products in order to meet the customers' needs. The company has been able to manufacture and distribute product in line with their growth strategy of ensuring a larger market share in the automobile industry. The company's mission and vision statements state that the organization will always produce products of high quality in order to meet the market demands and ensure that the customers get quality products which are durable. The company has thus been able to stick to its strategy of producing hybrid quality products that other companies are unable to do. The company has a manufacturing and processing system that was set in order to ensure that the brands manufactured are of high quality. Various technological advancements have been employed within the company's system. The company is able to move to the field and identify which of their products have faults (Pederson 92). For instance, the company recently came up with a tactic where it replaced brakes and old tires of cars bought from their stores. The quality control system of the company is very efficient in ensuring the company produces outstanding products.
Though there have been various complains concerning the Mitsubishi Motors products, the company has come up with new strategies in order to regain customers loyalty. The company came up with a system that was able to produce products that meet customers' needs. There has been a research done on the customers' views and complains about the company's products (Hitt et al. 73). The company identified that various customers complained about their products. The information helped the company in coming up with a strategy the will increase customers satisfaction. The company was able to identify the faults within their system and rectified them in order to produce brands that were satisfying to their customers.
The Mitsubishi Motors has products that can be differentiated from those of other companies. The innovation and technological advancement strategies that were employed ensured that the products of the company have been branded in a way that is distinct from other companies. The company has its logo on all its brands with brand id code for easier differentiation.
Mitsubishi Motors has employed various tactics in its operations in order to ensure that its products serve well their customers. The company has implemented some strategies also that have helped the organization to be ranked among the leading automakers on the global scale. These strategies and tactics employed have enabled the company to manufacture quite a wide range of products that have met the customers' requirements. The company has also invented various car breeds that have been released within the market. Price differentiation is also a strategic maneuver adopted by Mitsubishi Motors leading to an increased sales volume since the vehicles manufactured by the company are affordable in any part of the globe (Miller). Moreover, the products are differentiated to meet the varying needs and preferences of the consumers.
Tactics and Strategies of Toyota
Toyota has been ranked globally as the leader of automobiles. This is due to the uniqueness of its products. The company has opened various branches globally. With its tactics and strategies, it has employed, it has been able to outshine its competitors. Toyota has maintained a competitive edge over its rivals by even penetrating in the American market. Most importantly, the company has an assembly plant in North America, creating employment for the locals and boosting its market presence and performance.
As a global leader, the company has risen to levels that other competitors have not been able to reach. The company has unique competencies that make it survive within the market. The company manufactures voluminous products all year round in order to ensure there is no shortage of its products within the market. This competence has enabled the company to meet its market demands. The company is known to manufacture hybrid vehicles that have hit the market with a surprise. Customers have been able to purchase various brands as per their choice. The philosophy of this company has enabled it to be relevant to the market (Hitt et al. 74). The company has a system known as Toyota production system. This is a system only found within this company and enhances the quality and durability of its products. Other automakers lack this system and therefore the company enjoys its uniqueness.
Order Winners and Qualifiers
The order winners basically refer to the products and company characteristics that make its clients prefer the brands as compared to other companies. Toyota has various characteristics for its products and this makes it have a competitive advantage when it comes to customers. Toyota has created various challenges to its competitors through its competitive advantages. Toyota's upper hand has effectively influenced it to apply noteworthy pressure in the automobiles industry (Kaplan 543). The company has order winners that have enabled it to come up with distinctive price for its products. The company has been able to produce cheap products under its pricing strategy that has enabled the company to make more sales hence increasing its revenues. This makes its clients to lean toward Toyota vehicles to any others. Chain management, supply management and better strategies are some of the order winners that have enabled the company to be a leader in the market segment.
The company has a rigorous system of manufacturing its products. The operations are in most parts automated and technology has been employed to boost the operations of the company. Toyota Company has revolutioni...
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