The Toyota Motor Company, which is based in Japan, operates in automobile business as well as performs financial business operations. Indeed, the Toyota Company operates via three major business segments. In particular, the automobile segment is basically engaged in designs, manufacturing and subsequent sales of automobile products, which includes cars, trucks, minivans and other related parts. Other segments include finance since they are meant to facilitate buying of both cars and related equipments.
The Toyota cars are renowned worldwide for their quality and services. Starting from the early stages of the car design process till the roll out of Toyota cars, the company has enhanced quality as a key consideration in production. Indeed, the production and resulting product are characterized by innovative technology put onto every model from Toyota Company. Thereby, the technology-aided production results in an explicitly high quality product. The company has also established quality excellence center. In 2010, such a center was established in North America. Product quality field officers of the company facilitated by such center provide link between the clients and the company’s quality designs as well as manufacturing organization. This form of linkages assists the company in responding quickly to customer issues, enhancing both effectiveness and efficiency as far as the quality of the cars is concerned. As a result, Toyota is ranked top in customer satisfaction (Magee 2013).
The Toyota Company has a large global market of automobiles partially due to its renowned brand and partially due to its product quality relative to other brands in the industry despite intensive competitions from other manufacturers. Between 2003 and 2012, the global market share of Toyota appeared as below: 12.6%, 13.29%, 13.43%, 13.18%, 12.81%, 13.91%, 12.04%, 12.04%, 11.01% and 13.29%. This demonstrates a sustained high proportional market share of the company globally. In 2013, the Toyota Company retained its position as the top global seller of automobiles. In particular, the company’s total sales volume summed up to 9.98 million vehicles in 2013, recapturing the position of the world’s largest car company (Wimmer & Muni 2012).
On the other hand, its main competitors, General Motors and Volkswagen, attained a total sales volume of 9.71 million and 9.5 million sales respectively in 2013 as per global automobile sales chart. The main factor for the recovery was perhaps due to the receding series of damages resulting from the quake-tsunami disaster in 2011. In 2008, the company held its position as the biggest car maker in the world. However, the tsunami disaster made the company lose its crown due to the disruption of its production and supply chain in the Japanese market. Currently, the company is considered to be the biggest car company in the world (Wimmer & Muni 2012).
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Toyota cars are distinct from other brands in many ways, which is a factor that makes it more appealing to the vast majority of clients worldwide compared to other brands. Indeed, the company has an extensive differentiation strategy aimed at creating a sense of belonging to the brand. Among other company’s differentiation strategies, there is a highly efficient model of manufacturing, which leads to increased performance models while at the same time offers its customers an increased value.
Through the latter strategy, the company is capable of producing cars suited for several different market segments as well as price ranges unlike its competing brands. For instance, Toyota produced different models in sports utility segment comprising of Land Cruiser, Sequoia and the RAV4 among others (Russ 2009). This quality makes the brand more competent in the wide global market.