ˇ Fast, inexpensive productionˇ Well known, trusted brand nameˇ World's third largest car manufacturerˇ Camry- best selling carˇ Other strong brands- i.e. Lexus, Scion ˇ Lack of appeal to younger buyersˇ Prestige of Toyota name compared to higher end vehicles in the market.
ˇ Design and introduction of new modelsˇ Utilizing hybrid technologyˇ Provide online buying and activities ˇ Strong competitors in all marketsˇ Increasing gas pricesˇ Public transportation as an alternativeˇ More stylish affordable models that appeal to younger buyersˇ Classier vehicle models from different manufacturers
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.
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 safe.
Also, putting out new models each year allows the company to stay on top of current trends by incorporating the newest popular features and safety devices. 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 continuing to ensure that the cars they produce adhere and/or 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. Consumers have been discouraged by the fact that the price of gasoline has nearly doubled in recent years.
The final threat to discuss is the availability of vehicles that appeal to different demographics from competing manufacturers. By keeping the make name of the vehicles different, Toyota can...