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

Final project -you have been asked to present your proposed

Final Project - You have been asked to present your proposed health care facility to the board of directors. Based on your previous assignments, you are to put together a PowerPoint presentation of 15-20 slides with 300- ...

Business expansion and sustainabilitywrite a six to seven

Business Expansion and Sustainability Write a six to seven (6-7) page paper in which you: 1. Identify three (3) job requirements (e.g., needed certifications, previous work experience, external influences, etc.) that cou ...

Assignmentone of the reasons you were recently hired as the

Assignment One of the reasons you were recently hired as the manager of global supply chain was the continuing problems the firm faces with a number of its important suppliers of raw materials. Typical issues were late d ...

1 what are the practices that can be learnt from the

1) What are the practices that can be learnt from the theories and actual implementation of Green supply chain in Small Medium Enterprise (SME)? 2) What are the advantages and disadvantages for SME to implement Greer, Su ...

With the same talent management strategy in mind from

With the same talent management strategy in mind from Assignment 3, write a six to eight (6-8) page paper in which you: 1. Determine which performance management process you will employ to measure employee talent. 2. Ana ...

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 ...

Inventory can be reduced by a reducing order quantity b

Inventory can be reduced by (a) reducing order quantity, (b) adopting a centralized distribution system, (c) using common parts for different products, and (d) reducing lead time. Explain how inventory can indeed be redu ...

A catfish bait manufacturer uses a secret blend of

A catfish bait manufacturer uses a secret blend of ingredients to make their infamous bait. One of these ingredients, we'll call it X for proprietary reasons, is the major component in the mixture. X is ordered in 55 gal ...

Research and find a cool supply chain technology that is

Research and find a cool supply chain technology that is being used to insure safe and healthy foodstuffs within a retail business of our choice. What federal regulations must that followed to insure such safe and health ...

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 ...

  • 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