Ask Question, Ask an Expert


Ask Management Theories Expert


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

Assessment topic - qubeafter reading further background

Assessment Topic - QUBE After reading further background material on the company and relevant case studies on related companies, prepare a 2500 - 2600 word report analysing the important features of Qube, and identify lo ...

Segmentation analysis pmd personal microdermbackground of

Segmentation Analysis: PMD Personal Microderm Background of the product PMD personal Microderm products are at home microdermabrasion products for healthier skin. Microdermabrasion is a non-chemical procedure which remov ...

Literature review- read the two below literatures and find

Literature Review - Read the two below literatures and find the result of the literature (summary) and Critique of the research/research gap. - Write the summary and the critique for each paper. Each page around (160 wor ...

Q1 what are performance measurement criteria with respect

Q1. What are performance measurement criteria with respect to quality for assessment of a Supply Chain System as per world class performance system? Q2. Describe the concept of Lean Supply Chain with suitable examples. Q ...

Assessment 1 case managementthis assessment is designed to

Assessment 1: Case Management This assessment is designed to allow you to demonstrate your knowledge and skills in case management practices and protocols including: - Develop and utilise case management processes approp ...

Assessment type research essaypurpose to allow students to

Assessment Type: Research Essay Purpose: To allow students to research organisational behaviour theory and to enable students to examine and critically analyse one aspect of organisational behaviour in depth. Students wi ...

Problemnbspwhy would a company use trade secrets to protect

Problem: Why would a company use trade secrets to protect their invention? Wouldn’t it make more sense to patent something? Please write your response in 500 words minimum and make proper citation and referencing. Words ...

The product i am making is a washer that will wash the

The product I am making is a washer that will wash the clothes and then automatically dry them. No taking the load out of the washer and moving it to the dryer anymore. Your concept passed initial testing and went on to ...

Topic planning toolstechniquesgeneral framework discuss the

TOPIC: planning tools/techniques General framework: Discuss the planning function in the context of the work of the manager. illustrate with a case study. Individual components: Explain the techniques through the use of ...

Cultural differences can have a significant impact on

Cultural differences can have a significant impact on business operations and cause harm when not properly managed. Mergers and acquisitions can create challenges due to cultural expectations on a national and 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

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