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

Assignment - practice managementinstructions1 this is an

ASSIGNMENT - PRACTICE MANAGEMENT INSTRUCTIONS: 1. This is an individual assignment 2. Read carefully the terms of reference 3. Prepare technical and financial proposals responding to terms of reference 4. Include core el ...

Ict systems acquisition and integration individual report -

ICT Systems Acquisition and Integration Individual Report - Response to RFP Resource: Tayntor, C, (2002), Successful Packaged Software Implementation, Auerbach Publications; Unit lecture recordings and references. Your T ...

Logistics and supply chain management assignment-individual

Logistics and Supply Chain Management Assignment- Individual Report: Developing a supply chain based on a case study The Scenario: The report will be divided into two sections: the supply chain section and a short open-e ...

Tasks -there are ten 10 tasks one for each weeknbsp the

Tasks - There are ten (10) tasks, one for each week:  the tasks are detailed below.  There is a table to complete for each task.  Please fill in the information required.  An example of a completed task is below.  Note t ...

The purpose of this assignment is to consider supply chain

The purpose of this assignment is to consider supply chain management (SCM) and SCM systems within the context of business strategy. Choose any organization and prepare a summary with 2 to 3 pages. Include the following ...

Your company is seeking to realize its growth opportunities

Your company is seeking to realize its growth opportunities over the next three years by expanding production capacity for your digital shoehorn product line. You currently have a production facility in Shenzen that serv ...

Textbook requirements - stone r j 2013 managing human

Textbook requirements - Stone, R J. 2013, Managing Human Resources, 4th edn, Wiley, Milton. Learning Outcomes- 1. Identify the different approaches to the study and practice of employment relations. 2. Recognise the rela ...

1prospectusthe prospectus is the first portion of a three

1. Prospectus: The prospectus is the first portion of a three part project. The best way to define a prospectus is it is a document that gives some general direction about the information you need to investigate and the ...

Task-you have recently been promoted into the role of head

Task- You have recently been promoted into the role of head of communications for a publically listed company. Your first assignment in the role is to develop a communication plan for the launch of (new product) an innov ...

Assignment - business intelligence solution development and

Assignment - Business Intelligence Solution Development and Report for Social Enterprise BI Solution Development and Report In the BI practicals, we saw how the Watson Analytics tools interact with data sources to produc ...

  • 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

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate