Toyota SWOT Analysis

Length: 5 Pages 1301 Words

S.W.O.T. Analysis of Toyota Corporation in the United States Internal Strengths Weaknesses · Fast, inexpensive production· Well known, trusted brand name· World’s third largest car manufacturer· Camry- best selling car· Other strong brands- i.e. Lexus, Scion · Lack of appeal to younger buyers· Prestige of Toyota name compared to higher end vehicles in the market. External Opportunities Threats · Design and introduction of new models· Utilizing hybrid technology· Provide online buying and activities · Strong competitors in all markets· Increasing gas prices· Public transportation as an alternative· More stylish affordable models that appeal to younger buyers· Classier vehicle models from different manufacturers EVALUATION OF S.W.O.T. ANALYSIS The Toyota Corporation is a strong competitor in the automobile industry. Its many strengths can be used to maintain its position and there are several different ways in which it can overcome weakness, take advantage of opportunities, and avoid negative impact from its threats. Strengths The strongest strength of Toyota is its well-known name and trusted reputation. Most people in America are familiar with the company’s products and feel that they are Continue...

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Although it would be impossible to avoid competition altogether, the company's best bet is to continue putting out new modern models at a low cost. By doing so, people who are in the market for a new automobile will think of Toyota as one of their first choices as they start researching their purchase. By continuing to ensure that the cars they produce adhere andor surpass the current safety standards, avoiding negative publicity, and positively projecting the company's image as much as possible, Toyota can continue to enjoy the benefits of its respectable name. Hybrid technology is a relatively new addition to the automobile-manufacturing scene. Model loyalty is important to Toyota. Toyota should work to devise new technology that allows the car to run normally with fewer harmful emissions. Toyota should research and create prototypes for a car of this style, either for production immediately, or for in the future, depending on how this trend pans out. As this technology is made more readily available at cheaper prices, it may become a large part of the market. This lessens the likelihood of attracting the business of the younger demographic and people looking for a more prestigious vehicle name. Once a person looks into the purchase of a Lexus or Scion, they may do some research, discover that the manufacturer is an offset of Toyota, and be more inclined to make a purchase based upon positive feelings about the core company. Opportunities One opportunity that Toyota, and all other automobile manufacturers, can utilize is the ability to design and market new models to suit the company's needs. Toyota already has the name and reputation, so ensuring that the cars produced are of the same, or higher, quality and a comparable, or lower price as those of its competitors, is the key to staying on top of the game. High gas prices and public transportation go hand in hand. Weaknesses Toyota's weaknesses lay in its appeal to different consumer focus groups. Of course, this would also require a good marketing campaign created with this demographic in mind.