...ow price Toyota Corolla line of cars to the high priced luxury line of cars and SUVs with Lexus, Toyota provides something for everyone. Additionally, Toyota’s main advantage is that it has been the first successful manufacture that introduced the hybrid car on the market when it released the Prius in 2003. Being the first to get their hybrid on the market allowed Toyota to gain a large portion of the market share.
(5) Liker, Jeffrey K. The Toyota Way: 14 Management Principles from the World's Greatest Manufacturer. New York: McGraw-Hill, 2004. Print.
Toyota was the first corporation to expose the very first hybrid car, the Toyota Prius. The Prius has been the most commonly profound hybrid since year 2000. The name Prius is virtually tantamount with the word Hybrid, as most would agree with. As demonstrated by their numbers, the Toyota Prius is by far the most well-known, with over one million cars sold solely in the United States to this day. Statistics show that most buyers that pursue this type of vehicle are mostly all for eco-friendly and/or economic trepidations (The Corvallis Advocate, 2012). When the Prius was initially presented, the car was costing Toyota $40,000 to build, and they were selling it for a low cost of just $20,000 at the dealer. Some of the perks this vehicle carries with them is the fact that the Prius does an outstanding job of receiving high gas mileage. Proving a greater MPG of 62, reporters all over the U.S. have met th...
Toyota’s Integrated Differentiated Strategy is very unique to the automotive industry. Its main focus, according to the president of Toyota, is that Toyota is not trying to rival other automakers; Toyota is trying to conquer customers with great products and service to obtain high customer satisfaction.
With this differentiation, Toyota Motor is able to compete with its competitor in term of price, because Toyota’s production system leads to efficiency and low-cost production. This manufacturing system has created the differentiation of Toyota, which it produced the vehicle with high quality and low prices. Some concepts that Toyota has been adopted are Lean Manufacturing concept, Just In Time, Kaizen and Six Sigma. This competitive advantage is something that no other automaker can do it as well as Toyota
As stated, the Toyota brand has and will continue to maintain a competitive advantage due to the quality of their product. They are able to charge a premium price while still utilizing the differentiation strategy. Their customer service is even superior to others. From a personal experience, I have enjoyed the small things, such as my dealership interactions, especially with Lexus, over a company such as Ford. Although miniscule to some, their kindness, helpfulness, and even additional resources within the waiting area make you proud to be
Toyota- focused differentiation, medium pricing, breadth of product line is low. Company is known for quality products, and nice styling.
...emained pretty much the same. Customers first - all others follow. Unlike many companies, who work just to appease the shareholders, Toyota's mission is their customer and workforce. Toyota learned early on that happy employee's work harder and smarter, which in turn creates greater customer satisfaction, creating better earnings for their shareholders.
Toyota Motor Corporation is a Japan based company, whose headquarters are located in Aichi Prefecture. The company was founded by Kiichiri Toyoda in 1937. Currently the company’s CEO is Akio Toyoda. Toyota is basically into cars and it is one of the top players in the world in this industry. Toyota also owns two other brands namely Lexus and Scion, which gives the company a lot of advantage over it’s other competitors. Toyota manufactures sedans, saloons, suvs, muvs, pick-up trucks and buses. During the year 2013 Toyota had approximately 333,498 employees, who were working globally. In March 2013, Toyota was ranked as the thirteenth biggest organization globally in terms of its revenue. In the following table we can see the financial report of Toyota Motor Corporation in the year 2013-
These issues led to Toyota losing much of its brand equity as a leader in safety. According to an article in Time Magazine from February 2010, the automaker didn't just have safety issues in 2009 that led to the recalls, there had been smaller recalls for similar issues nearly every year since 2002. Historically, Toyota has been an organization that can take problems, root out their cause and turn the solutions into advantages over competitors. In this case, Toyota's complete lack of crisis management led to a major loss for the company both in 2009-2010 sales but something more precious and long-term, brand equity.
Toyota Motor Corporation is one of the largest automakers in the world. At its annual conference in Tokyo on May 8, 2008, the company announced that activities through March 2008 generated a sales figure of $252.7 billion, a new record for the company. However, the company is lowering expectations for the coming year due to a stronger yen, a slowing American economy, and the rising cost of raw materials (Rowley, 2008). If Toyota is to continue increasing its revenue, it must examine its business practice and determine on a course of action to maximize its profit.
In 1944, Kia Motors Corporation of Seoul, Korea, was founded as a manufacturer of steel and bicycle parts (Kia.com). During the early1950’s, the company changed its name officially to Kia Industries and began production of Korea’s first bicycle (Kia.com). In 1957 Kia began producing Korean’s first motor scooter, the C-100 (Kia.com). Korea’s first truck, the K-130 was introduced in 1962 (Kia.com). In 1971, the Titan, a 4-wheel cargo truck was produced (Kia.com).
Toyota offers for sale a full line of cars, from family and sportive ones, to minivans and trucks. The product mix of Toyota consists of sedans, coupes, hybrids, vans, SUVs and trucks. The width of Toyota’s product mix is quite substantial. Product line length is a number of different models in a product mix: Prius, Avalon, Corolla, Camry, Lexus, RAV4, Land Cruiser, Tacoma, Tundra, Scion and others. An example of a depth of Toyota’s product mix could be the possible variants of Lexus model (ES300, ES 350, IS Series).
• While making a methodology is challenging, executing it is considerably more troublesome. Numerous organizations comprehend Toyota Production System now, yet at the same time think that it is troublesome to execute and implement.
Toyota has adopted an expansion strategy aimed at increasing the company’s market share through sustainable growth. This will be done based on the delivery of high quality, and safe cars, at an affordable price. As the company seeks to expand to new markets, focus will be on maintaining an organizational culture that allows optimum efficiency in the ever dynamic global market.