Pricing policy and the competitiveness of automotive companies on the international market
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Date
2023-01-24
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Київський національний економічний університет імені Вадима Гетьмана
Abstract
While writing the thesis was considered and researched pricing in the international car market using the example of TOYOTA MOTOR CORPORATION. As a result, depending on the purpose, subject and tasks of the work were formed conclusions and determined the dependence of competitiveness and modification of the marketing price policy in connection with the effect of the crisis was determined. Summarizing the results of the study of theoretical sources, we can say that the main components of the price are profit and production costs. By adjusting one of the components, we can obtain certain financial results, as well as influence the final cost of the product. The rapidly changing environment and the emerging business risks increase the importance of using scientific developments to manage a company in an increasingly competitive environment. Within the framework of the research, in general, the clarification of the essence and clarification of the interpretation of the competitiveness of the enterprise contribute to the answers to the questions: what reasons, factors and conditions caused the emergence of the properties, abilities and quality of competitiveness in the enterprise; what can be called the factors determining the level of competitiveness of the enterprise; what are the goals of the company's competitiveness or why does the company need to have competitiveness; which qualitative and quantitative characteristics (criteria, parameters) reflect the competitiveness of the enterprise; how the interrelationship of the enterprise's competitiveness with competition, the competitiveness of products, the industry and the entire economy is manifested.We can state that the price of consumption is a complex component of competitiveness and requires a skillful approach from manufacturers and sellers, which will result in an increase in the competitiveness of sold goods and services. The analytical section makes it possible to argue that Toyota is implementing all the necessary key factors in order to succeed in the mini car segment. Nevertheless, the Toyota company needs to be careful in relation to aggressive competition from other car manufacturers and continue to implement a strategy that will be aimed at adapting the brand's products to the emerging trends in the market. The gradual economic decline in the main consumer markets, as well as the aging of the world's population, should push Toyota to invest in countries with transition economies. Even the turnover processes in the company's branches can be seen as a certain advantage, which allows the use of the workforce to diversify activities and launch the Toyota consulting brand. Even the end-of-life losses of the popular Aygo model can be significantly reduced by converting the Aygo into a special production model for women. In addition, it must be added that Toyota's success depends primarily on the company's ability to think in long-term categories. Despite the fact that the Toyota corporation faces serious competition from experienced car manufacturers, the company is able to profitably realize its potential due to the competent formation of a marketing strategy.The development of recommendations in the design section provides an opportunity to talk about certain trends that directly affect the pricing process in the automotive industry. They are formulated as follows: 1) Electronic commerce. As companies move to specialized e-commerce, this has a significant impact on pricing; 2) OEM manufacturers are accelerating the transition to direct sales due to strategic and financial considerations; 3) Increasing penetration of electric vehicles means new challenges and opportunities. These trends certainly force automakers to review their market strategies and pricing in general. This means that the manufacturer goes to a simplified scenario of selling his product, due to which he saves money, time and increases interest in his products due to the various platforms where he exposes his product or service. Toyota bZ4X electric cars can be called an upward trend, but they are limited in flexibility in pricing, because engine components cannot be distinguished by various additional equipment and functions, except for related ones in the range, and also electric cars define new segments and cannot be priced with traditional cars. All players of the automotive market - car manufacturers, manufacturers of auto components, dealers, the government, consumers are interested in the stabilization and development of the market, since the automotive industry, in particular, determines the economic and social level of development of the country.
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price, policy, competitiveness, automotive, electric, toyota strategies
Citation
Yanchuk D. Pricing policy and the competitiveness of automotive companies on the international market : master thesis : 073, Management / Yanchuk Daryna ; acad. supervisor Savych O. ; Kyiv Nat. Econ. Univ. named after Vadym Hetman, Fac. of Intern. Economics and Management, Dep. of Intern. Management.– Kyiv, 2023. – 89 p.