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

Maria sighed as she considered her new assignment it had

Maria sighed as she considered her new assignment. It had seemed like a great idea when Iris offered her the role, but now she wondered if she could get her arms around the complex process of getting RWW certified as an ...

1 discuss the advantages and disadvantages of work

1. Discuss the advantages and disadvantages of work specialization. 2. Compare and contrast debt financing and equity financing. 3. Define marketing. Compare and contrast place marketing with cause-related marketing.

Complete the following three-part assignment in a microsoft

Complete the following three-part assignment in a Microsoft Word document. Step 1 of 3: Provide your opinion on one of the following issues, in at least 50 to 75 words. Health care system Climate change National debt Ask ...

Iris tried not to smile of course it isnt technically a

Iris tried not to smile. "Of course, it isn't technically a disaster," she explained, "but I understand what you mean. How much information is lost?" Joel looked at her in dismay. "Lost? All of it! We had just saved the ...

Research and comply with regulatory requirementsshort

RESEARCH AND COMPLY WITH REGULATORY REQUIREMENTS Short Answer Questions 1. Apart from the internet, identify two sources of information (that a business could use) to ensure compliance with the law. Explain the type of i ...

Assignmentusing an aggregate demand and supply diagram

Assignment Using an aggregate demand and supply diagram (please graph) explain how each of the following scenarios affects the equilibrium price level and aggregate output. Is there a difference in the Short Run versus t ...

Read the article below and complete a 1-2 page article

Read the article below and complete a 1-2 page article review. The article review should include the following: Summary of the article. What are the key points of the article? How does military conflict management differ ...

Forecasting comparison presentationidentify a state local

Forecasting Comparison Presentation Identify a state, local or federal policy that impacts your organization or community. Create an 8- to 10-slide Microsoft PowerPoint presentation in which you complete the following: D ...

Emily bicchieri is a newly elected city council member in

Emily Bicchieri is a newly elected city council member in the City of Kelsey. As part of her orientation to her new position, Ms. Bicchieri wants to learn the roles and functions of the people she must rely on for inform ...

Business marketing discusion 150 wordssupply chain

Business Marketing Discusion (150 words) Supply Chain Management • Supply chain management is instrumental as it pertains to marketing as marketing plays a key role in integrating supply chain processes and promoting col ...

  • 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

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

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen