Published by MBA Skool Team, Last Updated: September 02, 2021
SWOT analysis of Toyota analyses the brand by its strengths, weaknesses, opportunities & threats. In Toyota SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Toyota to benchmark its business & performance as compared to the competitors. Toyota is one of the leading brands in the automobiles sector.
The article below lists the Toyota SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Toyota SWOT Analysis:
For Toyota, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
The strengths of Toyota looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Toyota :
1. Toyota has a wide range of car variants to offer and has a strong legacy since it started in 1937
2. Toyota is one of the oldest and reputed car manufacturers which brings high brand awareness
3. Over 300,000 employees are a part of Toyota's workforce
4. Toyota is a pioneer in hybrid technology and its production values like kaizen, kanban are benchmarks in manufacturing
5. Sedans, SUV, hatchback cars shows the highly diversified product portfolio of the car manufacturer
6. World class R&D and Engineering capabilities of Toyota makes its a pioneer in manufacturing
7. High brand awareness and market presence in the international market
8. Toyota is popular in motorsport events and sponsoring global events for spreading awareness
9. Toyota has excellent advertising and marketing campaigns through TVCs, online ads, billboards, print media, social media engagement etc.
10. The company is known to produce more than 10 million units annually
11. Toyota is a pioneer in manufacturing hybrid cars including Toyota Prius
12. The annual revenue of the company is more than $200 billion
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Toyota SWOT Analysis:
1. Immense competition from other automobile competitors means limited market share growth of Toyota
2. High brand switching due to many options for customers
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Toyota SWOT Analysis:
1. Expanding automobile market and opportunities for launching new products for Toyota
2. Concentrated efforts in hybrid segment can help Toyota become a market leader
3. Augmenting worldwide distribution and servicing network to increase market penetration
4. The company can leverage sale of hybrid cars globally
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Toyota are as mentioned:
1. Intense competition in the market leading to saturation
2. Competition offering innovative features at lower price car reduce Toyota's market share
3. New entrants in the same segment with better features and lower price
4. Car manufacturers catering to high ended customers
5. Being a global brand, its business is affected by recession and economic instability
There are several brands in the market which are competing for the same set of customers. Below are the top 12 competitors of Toyota:
Toyota has a wide range of cars, wide service and distribution network, international presence
SUV, Sedan, Hatchback, Hybrid Segment
Young executives, businessmen, urban families
Toyota is positioned as a car manufacturer which provides power, performance along with reliability
Toyota Product Portfolio
1. Toyota Prius
2. Toyota Fortuner
3. Toyota Innova
4. Toyota Camry
5. Toyota Corolla Altis
6. Toyota Etios
7. Toyota Land Cruiser Prado
The above mentioned brands are the prominent products under the Toyota product portfolio.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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