Business

TOYOTA

INTRODUCTION

Toyota is producing quality based products which are outclass or reputable in whole world. They are providing quality products, which are reliable and according to the need and demands of customers. Toyota is having excellence manufacturing process and designs of automobiles for their customers. This reputation has increased the customer loyalty, market share and even the financial strength of the company. Toyota first of all started work on small cars, and it introduced Toyopet in 1947. The profit, which they have gained from the small cars, was invested in the research and development. In 1957, first road test was performed by the Toyota on road. In 1965, Carona was introduced. Smaller Corolla cars were introduced in 1968. Toyota is mainly focusing upon lower to middle class customers. They have the advantage of first mover in the market. Toyota is the biggest car company of Japan, and it is on number 2 after General Motors. (Bodevin)

A_ QUALITY IMPERATIVES OF TOYOTA

There are some of the imperatives that were focused by the Toyota to improve its position and product quality in the market. Toyota has overlooked following imperatives to improve the quality, which are: economic, Social, and Environmental. (Liker, 2004)

Economic Imperatives

Most of the world’s population belongs to youth or middle class. People are spending on lavish products. Financial cost regarding cars has been increased, and now the most expensive cars are coming in the market, that is the reason that people’s buying trend toward vehicles has been increased. To overcome, this economic barrier, Toyota has entered in the market with less expensive cars in the market; it is also focusing upon the quality as well as with low price. With its innovative products at lower price has increased its fame among the youngsters.

Social Imperatives

People are now more educated, they are more concern about to have knowledge about the products. To achieve the quality through...