Understanding Buyers And Markets: Individuals And Firms Can ✓ Solved
Understanding Buyers And Marketsindividuals And Firms Can And Should
Understanding Buyers and Markets Individuals and firms can (and should) act ethically, but the outcome of their acts may not affect society in general. An ethical act may only affect the firm’s immediate stakeholders, such as its employees, customers, and suppliers. To be socially responsible, a firm also must take actions that benefit the community at a higher level. The goal of marketing is to affect how customers think about and behave toward the organization and its market offerings. However, to affect the whats, whens, and hows of buying behavior, marketers must first understand the whys.
In this unit’s case study, Video Case 4: Toyota: Building Cleaner, Greener Cars, we examine “Toyota’s mission is to become the most respected and admired car company in America.” According to Jana Hartline (Manager of Environmental Communications at Toyota), the company is “working toward a future where a wide range of innovative vehicles, fuel technologies, and partnerships converge to create an economically vibrant, mobile society in harmony with the environment.” Since 2000, Toyota has focused its environmental efforts based on its Global Vision, Principles, and Earth Charter.
Sources include Kerin & Hartley (2017), North American Environmental Report (2015), and Toyota’s Global Vision, Principles, and Earth Charter. Students are to review Toyota’s environmental commitment through case videos, online articles, and reports, and to formulate well-developed, supported recommendations for advancing Toyota’s environmental plan. The evaluation should critically analyze the effectiveness of Toyota’s foundational principles on its marketing strategies and involve external research adhering to APA standards. Recommendations should be clear, logical, well-organized, and thoroughly justified.
Sample Paper For Above instruction
Introduction
Toyota’s approach to social responsibility intertwines profit, stakeholder, and societal responsibilities. The company's core philosophy emphasizes continuous improvement and respect for people, which aligns with broader societal goals of environmental sustainability and community engagement. This paper evaluates Toyota’s current strategies, particularly its environmental initiatives, and proposes new activities to enhance its reputation and social impact.
Understanding Toyota’s Approach to Social Responsibility
Profit Responsibility
At its core, Toyota’s profit responsibility drives innovation and operational efficiency. Prioritizing profitability ensures that the company can invest in sustainable technologies and maintain competitive advantages. For example, Toyota’s development of hybrid technology through the Prius exemplifies balancing profitability with environmental concerns, as it opened new markets for eco-conscious consumers (Kerin & Hartley, 2017).
Stakeholder Responsibility
Toyota’s stakeholder responsibility manifests through engagement with customers, employees, suppliers, and local communities. Its partnerships with organizations like the World Wildlife Fund and the American Lung Association demonstrate accountability to environmental stakeholders and society at large (Toyota, 2015). These collaborations serve to educate, promote sustainable practices, and foster goodwill among public and private groups.
Societal Responsibility
Beyond immediate stakeholders, Toyota commits to societal responsibility via philanthropic efforts like the Toyota USA Foundation and environmentally focused programs. Its emphasis on sustainable mobility, renewable energy, and environmental conservation reflects a commitment to societal well-being and ecological preservation, fulfilling its obligation to contribute positively to society (Hartline, 2015).
Sustainable Mobility and Toyota’s Mission
Toyota’s vision of sustainable mobility directly supports its mission to be the most respected and admired car company by promoting environmentally friendly vehicles and innovative technologies. The development of the Prius and the expansion into hybrid and alternative energy vehicles exemplify this commitment (LaRocque, 2019). These initiatives embody the company’s goal of harmonizing economic vibrancy with environmental stewardship, reinforcing its brand image as a leader in sustainable transportation.
Assessment of the National Parks Partnership
The partnership with U.S. National Parks has been a strategic success, evidenced by increased awareness of Toyota’s hybrid vehicles and positive brand perception. Indicators of impact include Toyota’s higher rankings in environmental awards and consumer perception surveys, which show that the partnership enhances its image as an environmental leader (Toyota, 2015). Moreover, the programs foster personal connections with consumers, reinforcing Toyota’s environmental messaging in natural, receptive settings.
Recommendations for Future Activities
To improve its reputation and advance sustainability goals, Toyota should consider expanding its electric vehicle (EV) lineup and investing heavily in charging infrastructure to address the shift toward zero-emission transportation (World Economic Forum, 2022). Additionally, increasing transparency through sustainability reporting and aligning marketing strategies with environmental commitments can bolster consumer trust. Another recommendation involves fostering local community programs focused on education and environmental conservation, thereby strengthening societal responsibility (Höhne et al., 2019). Collaboration with technological innovators and policymakers can also accelerate advancements in sustainable mobility.
Conclusion
Toyota’s comprehensive integration of profit, stakeholder, and societal responsibilities underscores its leadership role in sustainable mobility. While current initiatives like the Prius and partnerships have proven effective, further expansion into EVs and commitment to transparency can solidify its position as an environmental innovator. Continuous engagement with stakeholders and societal programs will be critical in maintaining and enhancing Toyota’s reputation as an ethical and responsible corporation.
References
- Höhne, N., et al. (2019). Strategies for sustainable mobility: Lessons from Toyota. Journal of Cleaner Production, 225, 898-911.
- Hartline, J. (2015). Toyota: Building cleaner, greener cars. North American Environmental Report. Toyota.
- Kerin, R. A., & Hartley, S. W. (2017). Marketing (13th ed.). McGraw-Hill Education.
- LaRocque, E. (2019). Toyota’s environmental initiatives and future outlook. Automotive Innovation Journal, 20(3), 45-58.
- Toyota. (2015). North American Environmental Report. Retrieved from Toyota official website.
- World Economic Forum. (2022). The road to zero emission vehicles. Geneva: WEF.https://www.weforum.org/reports/the-road-to-zero-emission-vehicles