They knew there was a severe incident on last August.
They then decided to recall 5.4mil. cars and stopped selling on January.
They finally apologized today, Feb.2.
Snow brand was gone, though they still alive with different brand...
Paroma, gas product company, was gone.
many many cases.
In "United We Brand", "ask whether the core value will hold up under stress."
Core value of Toyota was ...?
Let's see carefully how Toyota will recover its brand.
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Toyota's brand will definitely take a hit because of this problem. I think that if they handled it well from the beginning Toyota may recover faster from this problem. This problem may be an opportunity for GM, Ford and Chrysler (that really suffered from the economic crisis) to recover and the following article is showing that in fact.
ReplyDeletehttp://www.msnbc.msn.com/id/35200833/ns/business-autos/
and this article is showing how Toyota may lose its credibility. The thing they tried in the beginning to "hide" the problem saying that it was a minor malfunction and after they pointed at CTS (the company that made the pedals)etc.....
http://www.msnbc.msn.com/id/35242480/ns/business-autos?GT1=43001
Yes, that's right. Toyota will try to handle this issue with its best effort, although the president's message is said to be not convincing enough.
ReplyDeleteBut the point is Toyota was the company that has been fully admired by all over the world in its "quality", but it failed to keep its core brand value.
So how we or other companies that have less brand strength could keep its core value under stress such as "growing more than competitors" or "why not do our best effort to achieve 5% more sales to become no.1 market share" etc.
It looks more internal branding issues...
I believe Toyota will recover in long term. Being a Toyota fan I was shocked to hear the “QUALITY” issue of Toyota. There have been lots of stories around the world for products that badly harmed consumers (food poisoning/service issues etc.) But the effect gets worse when the brand is world famous – that’s what happened to Toyota. Of course Toyota can never pay back for the lost human lives. If Toyota was a person it would be valued for its “Trustworthiness”. If Toyota brand were to die people could have written “We will miss your quality vehicles”. But today Toyota has to make its all efforts 24hrs to bring back the lost confidence & trust which is the hardest job ever.
ReplyDeleteI found this article predicting Toyota brand’s recovery:
www.telegraph.co.uk/motoring/news/7156845/Toyota-can-the-brand-recover.html
So, let’s hope Toyota will bring back its core value & build resonance back in the minds of consumers.
Fiat was in a very bad shape before the 2004, when a new top management took the driver seat and reversed the situation.
ReplyDeleteThe article above explain in short the last years of FIAT.
I could say that their change of core values was from an old man in a dusty 70's suit to a young active working guy.
Toyota doesn't need this change, because their core values were not misleading or untrustworthy, but their answer came too late.
But I am not a Toyota owner, thus probably if I were I would be very angry.
http://www.marketwatch.com/story/fiats-marchionne-drives-change-2009-12-03