The Strengths and Weaknesses of Toyota

1166 Words5 Pages
1. Toyota has traditionally relied on a few key strengths. The first is its brand name. The Toyota brand has been built into a global powerhouse, recognizable around the world. In addition to a high level of recognizance, the Toyota brand carries with it positive brand associations. These associations not only draw in customers and channel partners, but they allow Toyota to enter new markets and already have an established brand that people recognize, shortcutting the normal brand-building process. Another key asset that Toyota can utilize going forward is the quality level of its cars and its production techniques. The company has long been able to outperform many competing automakers in terms of bringing in high quality vehicles at a relatively low production cost. This is an asset that will help Toyota as the global industry becomes more competitive. A third key strength for Toyota lies with its business ties in Japan. Not only does the company have a captive and relatively protected domestic market, but it has access to considerable technical expertise, and most importantly financing. Toyota's track record within the Japanese business community and longstanding ties with major banks allows it to have the financing it needs for new initiatives, new markets or simply to weather economic storms. These different strengths each contribute to the future success of Toyota it can outperform in the market with a superior product, it has a great brand and the company also
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