Buy term paper on Toyota

Toyota has managed to reach a tremendous success in the course of its history evolving from a small company to a large multinational corporation operating worldwide and offering customers cars of different segments. At the same time, the company’s success was the result of the effective marketing strategy Toyota used. In this regard, it is important to place emphasis on the fact that the strategy used by Toyota evolved in the course of time respectively to the business environment and development of the company but the strategy was always effective and successful because today the company holds one of the leading positions in the world automotive industry. To make a breakthrough in its development, Toyota focused on manufacturing cheap cars available to average customers of a good quality (Corporate and Automotive, 2010). Even though technically first Toyota cars were imperfect but still they were good enough and they were sold at affordable prices. In such a way, Toyota has managed to make a breakthrough into the American market and other markets. Toyota offered customers cars of a good quality and they were ready to sacrifice the top quality of cars for the sake of the low price of the cars sold by Toyota. In such a way, the company could offer cars, which attracted mass customers. As a result, the company had managed to gain a considerable part of the market due to the availability of its cars to customers. However, offering cars to mass customers was one of the major steps toward success but it was not enough to put Toyota into the leading position in the global market. This step was essential to gain a large share of the market. At any rate, this strategy allowed Toyota to enter American market and other markets, which were strategically important for Toyota. Toyota’s cars were alternatives to traditional American and European cars. They were cheaper compared to American and European cars. Even though the quality of cars was sometimes worse compared to American and European cars, customers preferred Toyota’s cars because of their price. The next step toward success of Toyota was the focus on the quality of cars manufactured by the company. In fact, Toyota attempted to catch up with leading car manufacturers and offered customers cars of the high quality. As a result, the company had started to offer cars of the competitive quality, which challenged the position of leading car manufacturers. In this regard, it is worth mentioning the fact that after the introduction of this strategy Toyota’s cars had managed to increase substantially its sales, especially in the US, which was one of the major target markets for Toyota. The focus on the quality of its cars still remains one of the major priorities for Toyota and a part of its mission. In the contemporary business environment, Toyota needs to manufacture cars of the top quality to maintain its competitive position in the market. Nevertheless, Toyota has never stopped and carried on improving its performance and market expansion. In this regard, the company focused on the introduction of new model and new brand, Lexus, which entered the premium segment of the market. In such a way, the company expanded its market through entering the new segment. As a result, Toyota has managed to improve its position consistently because the company offered an alternative car compared to other leading brands. In addition, Toyota pays a lot of attention to the quality of its cars and to the introduction of innovations, which help the company to take the leading position in the market. In fact, innovations contributed to the fast development of the company and improvement of its position in the market (Farell, 2006). Toyota offered customers new cars with innovative technologies, which competitors often failed to offer. As a result, customers preferred Toyota’s vehicles because they were new and offered new technologies and innovations, which improved the quality of its cars. Today, Toyota carries on implementing its strategies, which have already brought the company a tremendous success. In actuality, the company holds the leading position in the world market and still the company pays a lot of attention to the quality of its cars, to the development of innovations and their successful introduction in new cars. In addition, the company pays a lot of attention to the company-customer relationships, which are crucial for the success of the company in the contemporary business environment because the customer satisfaction and the customer loyalty are essential for the successful marketing performance of the company.

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