How Toyota Captured the #1 Market Share
How Toyota Captured the #1 Market Share . . . Through Solid Decision-Making!
Toyota is arguably one of the most recognizable brand names in the world. Toyota captured the Number 1 spot in automotive sales, by creating high standards for quality, reliability and customer acceptance.
In short, the name Toyota has become synonymous with the standard of excellence to which many aspire.
Reaching this standard didn’t happen by accident.
It was accomplished by having a consistent and effective decision-making process at every stage of their marketing and product delivery process.
Toyota recently launched a marketing campaign appealing to buyers’ personal aspirations. The previous campaign, “Get the Feeling” gives way to “Moving Forward”,
a series of ads proclaiming Toyota vehicles will be there as drivers hit milestones in life. The company felt they needed a change because customer mind-sets have changed, and their business needed to follow the market.
This shift in direction came about because their marketing strategy was able to identify the strategic keys to the company’s future growth and make customer centric decisions.
While Toyota may not have used the exact process we are recommending, it is clear by looking at their strategy, they used a concise decision making process.
Seven Keys to Optimal Decision-Making
In the long range goal to achieve a solid market presence, all people in key positions can achieve incredible levels of effectiveness by acting purposefully – by knowing what has to be done – and in getting work done as efficiently and expediently as possible.
Management in most all businesses, lament they have no time to do what they feel they need to do. For example, there are too many emails, priorities that seem to change daily,
nano-second reaction to last minute requests, dealing with politics, and much, much more. Guess what? It’s not going away. No silver bullets. No magic spells. This is what you have. Get over it.
We are going to describe what you can to do to get your arms around making decisions that obtain optimal results.
Question. Are you certain your decisions will successfully accomplish your vision in the shortest amount of time?
Here are seven key elements that will give clarity to the many decisions you will want to make, for an effective business growth strategy to emerge.
Rule #1: Define the over all purpose in specific – not conceptual – terms.
Why It Is Important: To prevent decision overlap.
Ramifications if You Don’t: You can’t measure progress or verify when progress is being made.
How To Do It: Develop measurable results in time, dollars and numbers.
Rule #2: Determine specific discussion topics.
Why It Is Important: Be certain the decisions made in the session are grounded in reality and moves you toward your long-term purpose.
Ramifications if You Don’t: You can go down a wrong path and waste everyone’s time.
How To Do It: Determine that each discussion session has clear identifiable expectations.
Rule #3: Identify subjects NOT related to specific discussion topic.
Why It Is Important: It keeps the discussion focused on the specific topic.
Ramifications if You Don’t:
Time and energy is wasted on unrelated issues and are possible landmines upsetting the specific outcome of the session.
How To Do It: Prior to meeting, identify important issues and non-issues relating specifically to the topic.
Rule #4: Use permission meter.
Why It Is Important: Encourages participants to challenge assumptions, resulting in bold fresh new ideas.
Ramifications if You Don’t: Participants are analyzed – not ideas.
How To Do It: Establish a new dynamic style of thinking on a 1 – 10 scale from brainstorming to analytical to planning styles.
Rule #5 Invite only essential personnel in strategy discussions.
Why It Is Important: Gets issues on the table fast and encourages the cross-functional teams to find solutions at the outset.
Ramifications if You Don’t: Avoids “silo” decision-making as well as loading the session with non-essential personnel.
How To Do It: Know how the company works and who is responsible for what.
Rule #6: Compile Background Information.
Why It Is Important: Gets all participants on the same page without using valuable meeting time.
Ramifications if You Don’t: The stated purpose is not fulfilled because time is wasted bringing everyone up to speed.
How To Do It: Before meeting, distribute background information necessary to move discussion forward with velocity.
Rule #7: Develop a well thought-out communication plan.
Why It Is Important: It ensures all essential personnel have the information they need to be successful.
Ramifications if You Don’t:
All personnel not properly informed will not be in sync with the original decisions.
How To Do It: Determine what specific messages are delivered to whom; who needs to know; who will tell them; how they will be told; and by when.
Take a careful look at how your company is making decisions!
When effective decision-making flourishes you get on track towards successfully and effectively achieving your company’s vision.
In conclusion, if you follow these 7 golden rules, you will achieve success in ways you never dreamed possible. The key is to instill a reliable and consistent corporate decision-making process to get results like Toyota.
Geo Prizm: The Sum of GM and Toyota’s Efforts
The Geo Prizm is a vehicle that has been manufactured from 1990 up until the year 1997 by a joint project and venture by the General Motors Corporation and the Toyota Motor Company.
It had actually replaced the Geo Spectrum, as well as the Chevrolet Nova among the company’s line up of vehicle models.
The Geo Prizm is a compact car and comes in two body styles which comprise of the sedan with four doors and the hatchback that sports five doors.
It has been related to the Toyota Corolla and the Toyota Sprinter, and also considered the Ford Escort, the Dodge Colt, the Honda Civic, and the Nissan Sentra as its competition.
When the production of this vehicle had been permanently halted, the Chevrolet Prizm then succeeded this vehicle.
In the United States, the Geo Prizm was considered to be a small car in the automobile market. During the time that it still existed, the Geo Prizm was powered by the very same engines that the Toyota Corollas during that time also held.
From 1989 up until 1992, the Geo Prizm had been powered by the 4A FE or the optional 4A GE engine. Come 1993 up until 1997, the machine was powered by the 4A FE engine or the optional 7A FE engine.
As per its last years, 1998 up until the year 2002, the Geo Prizm got its power from the 1ZZ FE engine.
This vehicle was manufactured to sport a rear spoiler as well as body colored grilles and bumpers. There also were four wheel disc brakes. Changes were also done with the Geo Prizm.
In 1991, the vehicle was reintroduced wearing a new stainless steel exhaust system as well as black body side moldings.
People who were able to deal with the Geo Prizm said that despite having quite a cramped passenger room and a very limited cargo room, the vehicle still recovered through a great acceleration, a superior refinement, a comfortable ride, exquisite visibility and a very good fuel economy.
Other features that the Geo Prizm held included gray steel wheels, alloy wheels, full wheel covers, a rounded body, snake eye headlights, flush door handles,
60/40 split rear seats, a CD player, dual airbags, daytime running lights, antilock brakes, a sunroof, as well as a tilt steering wheel.
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