Toyota marketing and business - Essay Example

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Toyota’s extensive qualities have helped the organization to achieve heightened success, as well as a few weaknesses that hold it back. Toyota is a global organization with access to huge capital to put resources into a few endeavors. The organization is additionally recognized for having a certain arrangement of aptitudes. These aptitudes incorporate working intimately with suppliers, persistently discovering approaches to enhance and enhance, and always difficult it to cut costs. Alongside these qualities, Toyota has a few shortcomings. Most importantly, the way Toyota took care of the recalling issue was entirely inadmissible. It took CEO a while to turn out and apologize for the majority of the recalling issues. Numerous consumers felt that the announcement was inferring that Toyota as an organization was sorry for the mishap, instead of apologizing to their clients for extremely troubling them and additionally putting a few of them at risk. Another real shortcoming of Toyota is the down economy. From the moment the economy made a downward turn, automotive manufacturers developed an above the limit vehicles while but kept up their high altered prices. Toyota was no particular case to this and endured enormously amid the retreat.

The company’s marketing and business model have demonstrated to some degree effective. Toyota went from making low quality, reasonable vehicles in Japan to being the most successful motor manufacturer. The organization turned out to be so effective given their long haul planning abilities and additionally ceaselessly looking for client input on their vehicles. Toyota has demonstrated that they esteem their customers’ needs and their safety which have permitted them to hold such a variety of loyal clients throughout the years. Since the recalling issue at the start of 2010, a few customers were upset with Toyota. Be that as it may, most customers remained loyal to the brand regardless of the past disparities.

Succinctly, Toyota has built up its name and maintained a reputation for keeping up exclusive expectations and heightened standards in regards to quality (Dudovskiy, 2016). Be that as it may, the company’s continued desire for global market share extension and profitability poses a danger to the organization’s future. In their interest for development, the organization disregards its best-laid standards of an exhaustive quality check. Toyota;s desire drove the organization to expand limit by approximately 50% in five years. In a bid to stay afloat of the rate of development, the organization outsourced some of their parts from organizations working in Eastern Europe. The CEO, Akiyo Toyoda conceded that Toyota’s needs have been safety, quality, and output in that order.

 Recommendations

1.      Toyota ought to advance business and cost structure changes to achieve a strong administrative framework with the goal that it can react rapidly to the changing business sector conditions. In particular, Toyota ought to keep up a streamlined structure through the lessening of fixed costs and upgrade its business in built up business sectors in developed nations.

2.      Toyota ought to quicken its business venture into quickly developing rising nations by altogether and carefully checking economic situations in individual locales and acquainting products suited with the qualities and necessities of every business sector.

3.      Toyota should consider prioritizing in the Chinese business sector. This will empower it to wind up aggressive with other manufacturers in the luxury section. By expanding generation offices in Asia, this will empower Toyota to have less expensive distribution channels and turn out to be nearer to the developing business sector client.

4.      The company should institute a monitoring and assessment department that should be tasked with oversight over the company’s success in realizing its objectives. This would ensure that the short term goals are closely overseen and necessary amendments, if any, made.

5.      The backdrop above depicts that the centralized management system adopted by Toyota is proving to be quite ineffective in some aspects. Lack of autonomy by the regional offices tend to be time-consuming and drag the company both financially and regarding productivity.

6.      Finally, synonymous to other global giants, Toyota should also incorporate customers’ needs and quality in their production function. It is imperative for the organization to focus on leadership development and sustainability strategies. Given the dynamic nature of the automobile sector, the management team will be the key drivers of success at the company.

 References

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Dawar, N., & Bagga, C. K. (2015, June). A Better Way to Map Brand Strategy. Retrieved from Havard Business Review: https://hbr.org/2015/06/a-better-way-to-map-brand-strategy

Dudovskiy, J. (2016, January 24). Toyota Marketing Strategy. Retrieved from Research Methodology: http://research-methodology.net/toyota-marketing-strategy/

Grewal, D., & Levy, M. (2013). Marketing. New York: McGraw-Hill Education.

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Newman, R. (2008, May 27). 5 Secrets to Toyota’s Success. Retrieved from US NEWS: http://money.usnews.com/money/business-economy/articles/2008/05/27/5-secrets-to-toyotas-success

Team, T. (2013, April 4). Toyota Eyes Big Growth Ahead In Emerging Markets. Retrieved from Forbes: http://www.forbes.com/sites/greatspeculations/2013/04/04/toyota-eyes-big-growth-ahead-in-emerging-markets/#44bf68bd6a90

Toyota. (2016). Toyota Production System. Retrieved from http://www.toyota-global.com/company/vision_philosophy/toyota_production_system/

Whittington, R. (2000). What Is Strategy and Does It Matter? Boston: Cengage Learning .

Yahoo. (2013, November). Toyota Motor Corporation (TM). Retrieved from Yahoo Finance: http://finance.yahoo.com/quote/TM/profile?ltr=1

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