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

Majorfield supply change management writingthree-pages

MAJOR/FIELD: ''SUPPLY CHANGE MANAGEMENT'' WRITING Three-pages paper single space on the following Supply Chain Topics: Did Toyota an auto manufacturing company benefit from implementing JIT? Is Tesla benefiting from Supp ...

Part a written reportyou are required to prepare a report

Part A: Written Report You are required to prepare a report addressing the criteria below in accordance with the AIB assessment guide and style guide requirements. We have provided an Assignment template below to assist ...

Written report - individual assessmentpurpose this

Written Report - individual assessment Purpose: This assessment is designed to reinforce the subject content and develop students' skills and application of knowledge of the subject content to business situations. Topic: ...

Supply chain management assignment learning outcomesafter

Supply Chain Management Assignment Learning Outcomes: After completing the module you should be able to: 1. Optimise the design of a supply chain to ensure strategic competitiveness in a global market. 2. Audit the opera ...

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.

Requirement-each week you are required to engage with the

REQUIREMENT- Each week, you are required to engage with the material by writing a short discussion of how the material relates to the topic(s) of this subject and how it relates to your own personal experience. You creat ...

Management care environments and payment systems -

Management Care Environments and Payment Systems - Discussion The following Discussion will help you to prepare for part of your Unit 2 Quiz. 1. Describe the major third-party payers and the characteristics of managed ca ...

Why do many organizations ban port scanning activities on

Why do many organizations ban port scanning activities on their internal networks? Why would ISPs an outbound port scanning by their customers? Why is TCP port 80 always of critical importance when securing an organizati ...

Comparison in organizationusing your current work

Comparison in Organization Using your current work organization (or an organization of interest) and a second organization in the same industry as the subject matter, research the elements of business, compare and contra ...

Global supply chain managementread the 2 passages which i

Global Supply Chain Management READ THE 2 PASSAGES WHICH I GAVE IN ATTACHMENT AND GIVE ANSWERS TO QUESTIONS THIS PAPER SHOULD BE 3 PAGES IT IS SAFEASSIGN CASE STUDY FORMAT Analysis/Responses to Questions (Total of 3 sing ...

  • 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