Answer

Organizational analysis

Strategies Competitors use to Achieve Their business Objectives

1. Toyota Motor Corporation

• Superior quality at lower costs.
• Market Penetration.
• Product development
• Market development
• Toyota Motor Corporation focuses on manufacturing vehicles that are of high quality at a very low cost than The low-cost operation allows the company to produce products that are of low cost at the same time making higher profits (Thompson, 2017).
• The company’s strategy of market penetration provides intensive business growth by reaching and attracting more customers. The company ensures that it offers products in every market segment such as trucks, SUVs, and luxury vehicles hence providing a product line for every type of customer.
• Product development provides an intensive growth strategy as it allows the company to attract new customers to new products. This growth strategy allows for a fast innovative process hence the growth of the company.
• Toyota Company already have a global presence as it sells its products worldwide. The company continues to penetrate into new markets segments, hence the intensive growth of the company.

2.Ford Motor Company

• Cost leadership
• Market penetration
• Product development
• Market development
• Ford Motor Company uses a cost leadership mechanism to achieve its business strategy of cost reduction and low prices of motor vehicles to attract more customers. The company uses an assembly line method strategy to minimize manufacturing costs while maximizing the level of productivity. Ford Company achieves this strategy through process streamlining.
• market penetration is the primary intensive growth strategy of Ford Company. The strategy allows for selling more products to its current customers, hence the growth of the business. To achieve this strategy, Ford Company increases its number of dealership worldwide and increasing its sales volume.
• The strategy of product development allows the company to offer new products in the market hence increasing sales revenue.
• Market development provides the company with a mechanism of entering new market segments. This allows for the company to increase its global operations by penetrating new markets.

Analysis of the Competitors Organizational Performance

• Automotive sales
• Financial services and other business operations
• How Products get their Customers
• Personal selling
• Advertisement
• Direct selling
• Toyota Motor Corporation and Ford Company generate the majority of their revenues from their highly built automotive business. The revenue generated by the company comes from automotive sales and financial services. Financial services offered by the companies include miscellaneous businesses such as leasing vehicles of the company.
• Toyota Company uses a personal selling mechanism through its dealerships’ sales personnel. Dealership personnel helps to promote the products hence enabling the products to get to their customers. The company uses an advertisement mechanism to enable the products to reach its customers. Advertisements are carried out through websites, social media platforms, newspapers among others. The company also sells directly to corporate clients.
• How the Company Acquire Customers.
• The company uses a customer focus strategy.

Reasons for their Products been Valuable to Customers

• Durable products.
• The products are of best resale value.
• Products are of top safety pack.
• Most innovative products.
• Both Toyota company and Ford Motor Company have a comprehensive custom focus strategy that plays an important role in attracting more customers to make purchases from the companies. Customer focus strategy is tied to customer satisfaction. It is geared towards meeting the expectations and needs of potential customers. The strategy helps in creating value for customers through adjusting the company’s procedures to meet the customers’ needs.
• Both Toyota Company and Ford Motor Company manufactures vehicles that are durable hence adding up to savings on the customers’ end. Both Toyota and Ford brand provides one of the highest resale value. According to Kelly Blue Book, building a quality vehicle enables your customers to benefit from long service life and a great resale value.
• Ford and Toyota Company majorly focuses on manufacturing vehicles that are of top safety. The two companies also manufacture vehicles that are of high traction. This enables the vehicles to have great handling capabilities in slick conditions and off-road adventures. Therefore, the products from Toyota and Ford are considered to be of more value.
• How my Research Applies to my Innovation.
• Provision of strategies for penetrating into new markets.
• Provision of strategies for achieving customer preference. and customers’ needs.
• Strategies for beating their competitors.
• This research directly applies to my innovation because it enables me to know what is required in the market. For Volkswagen to penetrate the new markets, some of the strategies it should consider are those of its key competitors. The innovations before they are implemented should be of value to the customers, for instance, the innovations should be able to achieve durability, increased level of safety, and have the best resale.
• Lessons Applied to my Innovation.
• Maintaining the organization’s culture.
• Making your customers a priority.
• Maintaining relevancy.
• Making customers’ satisfaction to be a priority.
• Maintaining the organization’s culture of producing quality products is key. Coming up with innovative ideas such as electric mobility and autonomous driving provides an innovative approach that promotes the company’s culture of improving the quality of vehicles manufactured at Volkswagen.
• Customers are one of the primary stakeholders of the company therefore, prioritizing on my customers and coming up with what they need will enable my innovation to realize success.
• Maintaining relevancy in the innovative process of the company will enable the company to achieve a sustainable success.
• Customer satisfaction should be paramount as it will enable the organization to reach more customers through referrals. New relevant technologies and advancements make products to be liked by many.
• How my Organizational Analysis Relates to the Development of a Strategy to Bring my Innovation to Market
• Discovering new markets
• Developing innovative frameworks
• Identifying barriers and constrains.
• Establishing a growth strategy.
• Before launching innovations into the market, the organization will have to decide which markets they want to venture in first. Streamlining the number of choices will enable the company to pursue opportunities that are realistic hence enabling the company to realize success (Harvard Business Review, 2016).
• Innovative frameworks such as marketing enables the organization to evaluate the innovative ideas that has end-result of impacting a serious change in the organization. It provides a clear guideline to which organizations can vet new ideas on marketing strategies of the innovation. This will allow the introduced innovation to be accepted in the market by customers.
• Growth strategy will enable the organization to look into its target customers and come up with product differentiation which is affordable to all.