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8 pages/≈2200 words
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Style:
APA
Subject:
Management
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Essay
Language:
English (U.S.)
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Topic:

Change Management-Toyota Motors Corporation

Essay Instructions:

No any plagrism

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Essay Sample Content Preview:

Change Management-Toyota Motors Corporation
Student’s Name
Institution
Course
Professor’s Name
DateChange Management-Toyota Motors Corporation
Toyota Motors Corporation is one of the Japanese companies that engage in manufacturing, designing, assembling, and selling locomotives and related parts across Japan, Asia, Europe, and America. Lexus, Hino, Daihatsu, and Toyota are the company’s major brands. Toyota is one of the leading manufacturers of cars and the eighth largest company globally. The company has thrived in the automotive industry despite encountering challenges, such as environmental concerns and skyrocketing fuel prices. For that reason, most consumers have changed their preferences from fuel-guzzling trucks to fuel-efficient cars. Following the changing demands in the market, automakers have embraced change by expanding small-car portfolios to hybrid electric motor vehicles. The shift in consumer preferences has influenced Toyota's operation from fuel-guzzling locomotives to small-car portfolios and hybrid locomotives.
Toyota Motors Corporation has outstanding technical capabilities based on a study of consumer’s demand for conventional cars. The company has encountered various product changeovers to have a competitive edge over other US-European rivals. Toyota’s competitive and customer-friendly prices have helped the company maintain its position as one of the most popular automobile manufacturing companies worldwide (Tadakuma et al., 2020). One of the drivers for its success has been the implementation of quality and efficiency. As a result of designing comfortable and efficient cars, the company has maintained its profitability. In addition, Toyota designs reliable and faster vehicles to maintain its dominant position in the market.
Key Deliverables and Related Activities
The first timeline for the launch of the Toyota Prius was launching the new product to the market. Following the launch of the Toyota Prius, most customers accepted it based on its unique features. Toyota Motors had a core objective of enlarging its market coverage. The new Toyota Prius improved performance, fuel efficiency, and styling. According to Shigeta and Hosseini (2021), Toyota Prius adopts an Asian design, including its wide range of colors. Inside the new car is a stubby switch to engage drive or reverse and a push button that turns on all the car components. Toyota Prius has a 7-inch monitor touch screen that displays battery charge level, outside temperature, and fuel consumption. Besides, the screen indicates if the car runs on electricity, gas, or regenerated energy. In addition, the car has a wide range of storage space, shelves, and cubbyholes to indicate its functioning.
The next step after product launch was promotion to create awareness about the new product. Toyota company spent 40 million dollars to spread its marketing strategy to various consumer-oriented televisions and magazines. The promotion was successful since the sales of Prius reached 28,000 units in 2004. One of the outstanding features of the new product was the relatively moderate price that would attract more customers following taxation relief. In addition, external incentives, such as an increase in the pri...
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