Toyota slashes marketing budgets to fund innovation drive

Japanese car brand Toyota has embarked on a process of reappraising its priorities in business with a decision to slash budgets in sales and marketing (worth $24.66bn in the year to March) in order to reallocate resources toward research and development.
This shift in emphasis has already seen it tear up contracts with the Chinese arm of Dentsu, its long-standing communication and advertising agency, in favour of non-traditional (and cheaper) advertising approaches – saving itself around $