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Toyota Company Research Paper
Pages 3 (753 words)
Without a doubt, the Toyota Company is a leader in manufacture, assembly and distribution nationwide. Hence, a very efficient marketing and management style is needed in order for the company to thrive in a fierce competitive environment. Toyota is also a lead executioner of a practice called as “JIT system.” JIT improves organization's return on investment, quality, and efficiency as cash flow are apparent along with a strong process inventory.One cannot acknowledge the beauty of Toyota’s success without understanding its marketing model.
A marketing strategy consists on a well-designed plan that makes a marketing plan highly effective. Marketing strategies serve as a foundation to fill market needs. Plans and goals are usually tested for results. Toyota’s mission statement of the company is to achieve a stable and long-term growth in the future. One way to ensure that is to test their vehicles again and again. Hence, testing and development becomes extremely critical at this stage. Research shows that Toyota is known for its testing as it would test its cars around million times, just to ensure the reliability. Although this is costly and maybe on the key factors that lead to downfall for Toyota; Toyota cannot leave its pride in quality satisfaction. It must continue to develop cars that are fuel efficient but are tested in their labs for months before moving it to the market. In the past, Toyota has gone out of its way to put the customer first. In the case of the Tacoma, Toyota found this issue of rusting in the truck’s frame. These were trucks that were around a decade old. ...
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