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 into the auto making by being a fast follower, however it is now the innovator. In 1936, Toyota accepted following Chrysler’s landmark Airflow and patterning its engine after the 1933 Chevrolet engine. But by 2000, when it innovate the first hybrid electric-gasoline car, the Prius, Toyota was the leader. In 2002, when the second-generation Prius hit showrooms, dealers acquired 10,000 orders before the car was even accessible; GM followed with an announcement that it would enter the hybrid market with models of its own.

Toyota’s strategy for Prius was to build the environmentally friendly car which reduced 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 essential to future of cars.

Toyota offers a full line of cars for U.S. market, from family sedans to sport utility vehicles to trucks to minivans. Toyota also has products for various 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 illustration, 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 make the car mono-spec at the 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 the place where they just go stare at a car,” said Scion vice president Jim Letz.

problem 1

Toyota’s sales rose in every region of the 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.

Task1. Define

i) Total Customer Value
ii) Customer Satisfaction
iii) Customer Relationship Management.

Task2. describe how Toyota can make use of information technology to develop and handle customer relations.

Task3. describe the significance for Toyota to respect the privacy of its customer information.

Task4. describe how Toyota can measure the success of its customer centred initiatives.

Management Theories, Management Studies

  • Category:- Management Theories
  • Reference No.:- M94973

Have any Question? 


Related Questions in Management Theories

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 ...

Write the given essay assignmentessays should demonstrate

Write the given essay assignment. Essays should demonstrate substantive research and critically evaluate the literature on a particular topic. Essays should be approximately 5,000 words, including footnotes. The idea for ...

Analysis and synthesis of prior research paperprepare an

Analysis and Synthesis of Prior Research Paper Prepare an academic paper (5-7 pages not including cover page or references) in APA format containing analysis and synthesis of prior research, which will be posted to the G ...

Assignment briefdevelop an annual report for a company of

ASSIGNMENT BRIEF Develop an Annual Report for a Company of your choice. Company - National Bank of Malawi 2015 Annual Report From a technological point of view, the "internet" is all the computers in the world that are c ...

Discussionconduct independent research to find a targeted

Discussion Conduct independent research to find a targeted recruiting strategy. Discuss each question separately. Include the 5 HEADINGS (in-bold) below in your response: Describe the strategy? Who does it target? Does i ...

The fine garments company sells fashion clothing the

The Fine Garments Company sells fashion clothing. The forecasted annual demand for their premium leather jacket is 2,000. The order-processing cost per order is $40, and the inventory holding cost is $35/item/year. How m ...

This milestone focuses on the topic of compensating

This milestone focuses on the topic of compensating employees. Using the material on compensation provided in this week's lesson and the case study, write a short paper in which you: Describe the compensation philosophy ...

Change management workbook 1a context analysisq1 how is ai

CHANGE MANAGEMENT WORKBOOK 1 A. Context Analysis Q1: How is AI (Artificial Intelligence) a game-changer in the industry you're analyzing? What new competitive dynamics/models emerge b/c of the introduction of AI? Q2: Ben ...

Response to peer initial post word count

Response to peer initial post: Word Count 150    Discussion Question: Let's explore the virtual organizational form. Why would a firm decide to implement this approach to organizing?  What are the benefits? What is the d ...

1 what is benchmarking2 what is the standard of due care

1. What is benchmarking? 2. What is the standard of due care? How does it relate to due diligence? 3. What is a recommended security practice? What is a good source for finding such recommended practices? 4. When selecti ...

  • 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