Toyota Motor Corporation is a Japanese multinational, manufacturing and selling a range of vehicles throughout the world.
Question:
Toyota Motor Corporation is a Japanese multinational, manufacturing and selling a range of vehicles throughout the world. Its global vision is:
- “Toyota will lead the future mobility society, enriching lives around the world with the safest and most responsible ways of moving people.
- Through our commitment to quality, ceaseless innovation, and respect for the planet, we strive to exceed expectations and be rewarded with a smile.
- We will meet challenging goals by engaging the talent and passion of people who believe there is always a better way.”
Toyota has four main brands of vehicles:
- Toyota
- Daihatsu (budget vehicles)
- Lexus (luxury vehicles)
- Hino (commercial vehicles, e.g. trucks)
Toyota does not make motorcycles. Further, it has been the leading producer of hybrid vehicles for many years, but only recently started producing fully-electric vehicles.
Toyota’s vehicles are sold through third-party dealerships around the world, although Toyota maintains a high-degree of control over these dealerships.
Required:
(a) Discuss Toyota Motor Corporation’s strategy. Hint: Apply strategy concepts covered in ACCT222 lectures. Use your own words.
(b) Discuss how Toyota Motor Corporation may use cost- and market-based pricing to manage revenue and implement its strategy. Use your own words.
Business
ISBN: 978-0324829556
10th Edition
Authors: Willian M Pride, Robert J. Hughes, Jack R Kapoor