Toyota
That Toyota has come a long way is a well documented fact. Initially, the Company had a reputation as a firm that largely concerned itself with the manufacture of cheap automobile models and it was not until the 1960's that Toyota managed to shake off the cheap Japanese importer tag to a brand revered by customers across the world. In this text, I concern myself with the various strategies that Toyota has applied overtime and how these strategies have changed with the passage of time. I also bring out the fit between these strategies and the company's strengths and weaknesses in the light of the prevailing weaknesses as well as opportunities in the automobile industry.
The Strategies Toyota has Adopted over Time
Diversification is one of the strategies Toyota adopted from earlier on and indeed, this strategy has been instrumental in the company's continued success in the automobile industry. In simple terms, Witcher & Chau (2010) describe diversification as a strategy where an organization maintains active participation in several...
12. It has not been implemented in a wide enough spectrum to really gain the attention of parents on a national level. 13. Marketing towards one single brand image sometimes limits a company's capability to market its diversified product line. 14. Targeting previous customers through follow up ay waster valuable resources. T h r e a t s 1. Utilize the global Toyota presence to keep financial budgets and cash flows under control. 2. If
Toyota Marketing Strategy What marketing exactly is? Marketing is a very unique set of activities which show a great and valuable impact on the entire organization. A company cannot sell its all products to a single customer or at a same market. There are numerous markets and they all are diverse according to their demand and buying requirements. That's why each company needs to identify its market segmentation, market segmentation procedure, pattern
This process improvement is implied in the manufacturing and the upper-level management changes, and should be prioritized as such. Another manufacturing process that Toyota needs to address and which is implicit in the previously mentioned manufacturing process is its increasing propensity to utilize parts suppliers outside of its keiretsu, which loosely translates into headless combination (No author, 2009). Keiretsu is a Japanese term for the tiered hierarchy of additional companies
Toyota Prius In the case study, Toyota Prius customers sought to achieve different kinds of goals, which the Prius was able to meet, hence helping its customers achieve these specific goals. Prius customers have a mix of immediate and long-term purchase goals, in addition to personal-material and professional goals (Hawkins and Motherbaugh, 2010, p. 448). Prius satisfies its customers' long-term, which is to have a fuel efficient car, a concern that is
Toyota has a few strengths on which to build competitive advantage and exploit opportunities in the marketplace. The company has two strong brands in Toyota and Lexus that are internationally recognized, allowing Toyota significant leverage when entering new markets or even negotiating with suppliers. Another strength that Toyota has is a strong global distribution network. Takahashi (2010) notes that even as Japan and the U.S. saw weakness in 2010, the
This should always be the case and bad things will happen again if Toyota stumbles. The fact that Toyota is not a domestic car maker will be used against them by opportunists. Dealer/Parts Network A struggle that has been encountered by many car makers is the "complex web" (as the case study calls it) of dealers, parts suppliers, offices and so forth that have to be managed when running a car
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now