Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Management Theories Expert

Toyota’s Marketing & CRM Strategy

Toyota might have gotten its start in auto making by being a speedy follower, but it is now the innovator. In the year of 1936, Toyota accepted following Chrysler’s landmark Airflow and patterning its engine after a 1933 Chevrolet engine. But by 2000, when it introduced the first hybrid electric-gasoline car, the Prius, Toyota was the leader. In 2002, when the second-generation Prius hit showrooms, dealers received 10,000 orders before the car was even available; GM followed with announcement that it would enter the hybrid market with models of its own.

Toyota’s strategy for Prius was to build an environmentally friendly car which diminished the footprint on the environment by reducing energy consumption, greenhouse gas emission rates, and smog emission rates. Toyota president Fujio Cho sees environmental performance as necessary to the prospect of cars. Toyota offers a full line of cars for the U.S. market, from family sedans to sport utility vehicles to trucks to minivans. Toyota also has products for different price points, from lower-cost Scions to mid-priced Camrys to the luxury Lexis. 

Designing these dissimilar products means listening to dissimilar customers, building the cars they want, and then crafting the marketing to reinforce each make’s image.  For instance, Toyota spent four years carefully listening to teens before launching the Scion for first-time car buyers. It learned, for instance, that Scion’s target age group of 16 to 21 year olds wanted personalization. To meet that preference, Toyota will build the car mono-spec at factory and let customers at dealerships choose from over 40 customization elements, from stereo components to wheels and even floor mats. Toyota markets the Scion at music events and will have showrooms where young people feel comfortable hanging out and not a place where they just go stare at a car, said Scion vice president Jim Letz.

Toyota’s sales rose in every region of world in 2003, and the company earned $146 billion.  It edged past Ford Motor Co., to become the world’s second-largest carmaker, and its market cap of $110 billion is more than that of GM, Ford, and DaimlerChrysler combined. Toyota is now eyeing the top spot, with a goal of surpassing GM as the world’s largest carmaker by 2014.

Required:

problem1. Define the following term with the help of authentic exs:

i) Total Customer Value

ii) Customer Satisfaction

iii) Customer Relationship Management.

problem2. describe how Toyota can make use of information technology to develop and manage customer relations.

problem3. Describe the significance for Toyota to respect the privacy of its customer information.

problem4. describe how Toyota can measure the success of its customer centred initiatives.

Management Theories, Management Studies

  • Category:- Management Theories
  • Reference No.:- M96417

Have any Question? 


Related Questions in Management Theories

Read the following articlepreston g moon j simon r allen s

Read the following article: Preston, G., Moon, J., Simon, R., Allen, S., &Kossi, E. (2015). The relevance of emotional intelligence in projectleadership. Journal of Information Technology and Economic Development, 6(1), ...

List and describe the three guidelines for sound policy as

List and describe the three guidelines for sound policy, as stated by Bergeron and Bérubé ? Describe the bull's-eye model. What does it say about policy in the InfoSec program? In what way are policies different from sta ...

1 explain the following termsstrategic planningcustomer

1. Explain the following terms: Strategic Planning Customer Focus 2. What are the three theories of discrimination. List all three under Title VII of the civil rights act? 3. Explain Job analysis and Job description in y ...

Explain the 4 stage model of supply chain integration and

Explain the 4 stage model of supply chain integration and how it would apply to a business trying to enter a global market.

What is information security policy why it is critical to

What is information security policy? Why it is critical to the success of the InfoSec program? Of the controls or countermeasures used to control InfoSec risk, which is viewed as the least expensive? What are the primary ...

Communication - final project - discussiontopic management

Communication - Final Project - Discussion Topic: Management Reports Management reports have been a prominent topic the past few years. The term "Management Reports" can be understood in a variety of different contexts a ...

What is the difference between qualitative measurement and

What is the difference between qualitative measurement and quantitative measurement? What is the OCTAVE Method? What does it provide to those who adopt it? How does Microsoft define "risk management"? What phases are use ...

Managing recruitment and selectionthe recruitment and

Managing Recruitment and Selection The recruitment and selection process is often challenging, as it can be expensive and time-consuming for health care organizations. Administrators are frequently under pressure to quic ...

Individual assignment reflective essaythe individual

Individual Assignment: Reflective Essay The individual written assignment will take the form of individual reflection upon some aspect of your personal experience of management and organisations. Throughout the module, a ...

1 a is an example of a first-line managera shift managerb

1. A ________ is an example of a first-line manager. A. shift manager. B. division manager. C. store manager. D. regional manager. 2. Establishing strategies for achieving organizational goals is a part of the ________ f ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro