Opinion
There hasn’t been a more challenging time to be a Toyota owner or Toyota dealer in years, perhaps ever. Last week’s Toyota recall sent shock waves that have been felt throughout the world as the mighty manufacturer from Japan displayed a rare moment of vulnerability.
As a result, the best time in years to buy a Toyota is just around the corner despite other brands taking advantage of the issues.
Toyota as a brand has excelled at excelling. It’s an odd statement to make, but the ultra-competitive nature of the company has demanded (and until last month, delivered) near-perfection from every facet of their organization. They strive to offer the highest quality, safety, and value, and as a result have been the undisputed kings of the automotive world for most of the last decade.
It is this type of mentality that will kick in once again. Right now, the company is not handling things well, but that can be expected. Can a situation such as halting sales and production be handled properly? It will get worse before it gets better as the effects of this event will be felt for a long time.
As a result, Toyota is positioned to rebound once the firestorm passes. They have the capital and capabilities to win back their customers and potentially bring in new ones through 3 triggering factors:
- Obviously, they have to fix the current issues.
- Once the current situation passes, they must engage in a reputation and buzz marketing campaign focused around never-before-seen incentives and the innovative technologies that have made them great.
- They must apologize. Publicly. Sincerely.
Once these three criteria are met, it’s time to forgive and move forward, and the consumers will. Luckily for Toyota, they’ve built up a tremendous amount of credibility. It’s tarnished now, but they have the ability to wipe the tarnish off and start the next chapter of amazing success. In a few years, this may (secretly) be looked back upon as a turning point in the growth of the company that exposed a vulnerability and made them stronger as a result. They have lost their bulletproof aura.
If handled right, being vulnerable can be turned into something great for the company, the dealers, and the consumers who are willing to take a small leap and trust them again.
* * *
Read more Toyota News on this blog.
{ 2 trackbacks }
{ 1 comment… read it below or add one }
I agree with the post but wanted to add that is one of the coolest looking concept cars I have ever seen.