Toyota is Japanese multinational automotive manufacture headquarter in Toyota, Aichi, Japan. Originally Toyota was name as Toyoda derive from family name. Until 1989, there was no guideline for the use of the brand name ‘TOYOTA’, which was used by most of the world and led to inconsistencies in marketing campaigns.
So, remedy to this, Toyota introduced a new logo in October 1989. The logo made debut and gain world recognition. “The three ovals in the new logo combine to form the letter “T”, which stands for Toyota. (https://en.
wikipedia.org/wiki/Toyota) Toyota when venture into United State and United Kingdom market, the Toyota company face economical and unstable political scenarios. Any major and minor change in the exchange rates has hamper the profit margin for the company. The increase in price of fuel and environmental concern along with market saturation are the issue on marketing Toyota in UK. (Hoque, Faruque, Shahid, Pasha,& Rahman, 2013) Toyota faces the potential threat of depleting oil reserves and climate change and their strategy to cater the need of future customer. (https://www.
icaew.com/-/media/corporate/files/technical/sustainability/toyota-case-study.ashx). Response to the issue and to adapted locially into US and UK market Toyota company collaboratively set a mission to meet the challenge of creating a vehicle for modern people, which would work within the parameters of natural resource constrains and environmental issue (World Business council for sustainable Development,2005). Toyota standardize world’s first eco-efficient vehicle(hybrid), Toyota Pirus. Toyota Pirus feature the Hybrid synergy drive that integrates the most mix of electric motor and petrol engine and make least emission.
Hybrid cars are 2.5 time more efficient overall than normal vehicles. The Pirus, Hybrid of advantages of low fuel, zero emission, pioneer product, and fabulous design offer a huge market (Smith, 2013; Hoque et al., 2013).Toyota and Lexus brands vehicle had experienced the substrate and potential shutdown of hybrid system. As a result of defeat in Toyota vehicle caused a number of death related to safety and thus considered serious (Nkomo, Analysis of Toyota Motor Corporation)As apologies by Toyota company order dealers to temporarily suspend the sale. Moreover, to support a balance of inventory, several factories remain closed for specific period(Rajesekera, 2013).
Toyota has promoted “social contribution activities that help strengthen communities and contribution to the enrichment of society” not only by itself but also through its suppliers and dealer networks (Toyota Motors Corporation, 2009). In conclusion, Toyota company always puts quality and customer first. Its product development, after sale service, marketing strategy and every activity bears the best customer service. Localizing, while moving to new markets, it focus on quality control. The company invested huge amount to introduce hybrid technology. Nowadays, they have capitalized on the expense they had invested through price range for customer as possible. They keep the balance between low pricing and high price skimming (Hoque et al, 2013)