The paper "Perception of Consumers in the Market of Toyota" is an outstanding example of a marketing research proposal. Managing a company is arguably one of the toughest parts of a company. Thus, for a well-known brand to suffer from a severe crisis as a result of problems related to quality products, a company could be forced to recall products. Therefore, if a crisis is bound to occur in a company, the company’ s reputation of producing quality products would be tarnished. The purpose of this study is to elaborate on how to deal with the unforeseen crisis in relation to a Toyota Case Study and investigate the perception of consumers in the market.
This helps in guiding the management on how to benefit from the outcomes in terms of company growth. Executive Summary In such a business environment, the need for a robust, corporation-wide plan to deal with the unexpected crisis is required. Crisis management research is aimed at probing the problems which could face a corporate company and finding solutions that are appropriate and are capable of preventing or curbing situations that may hinder company growth.
(De Blasio and Veale, 2009). Moreover, the management, planning and implementation of well-outlined strategies help managers in the preparation of situational crises that may be unforeseen, hence tarnish the company’ s reputation (Zhao and Fan, 2007). This study uses qualitative research as well as face-to-face interviews with dealers in the market, and consumers of our product. Hence, our findings reveal that the impact of any given crisis in a company could affect the growth of a company. Therefore, it is important to know that crises do occur, and when they occur, it lies upon a manager to drive the company away from the crisis by providing solutions that will solve problems; restore company reputation; lead the company towards growth. 1.0 Introduction When facing a crisis the former and present reputation of a company could result in instability; hence drive the company in a direction that is unfavorable.
The strategy by which a corporate company decides to issue responses in relation to a crisis may positively or negatively influence the reputation perceptions of stakeholders and customers. In turn, this may impact how they choose to interact with the company.
This research uses theoretical literature regarding the management of corporate crises, as well as consumer perception to establish the best ways through which a crisis can be avoided or dealt with, despite the magnitude of the crises. The reason for utilizing such literature is to help us analyse a situation using knowledge and insights gained from the Toyota case 1.1 Problem Discussion A crisis is a situation that has a 50/50 probability of occurring in a company, hence can cause a company’ s instability from an internal or external perspective, resulting to serious implications on its reputation, assets, et cetera (Carroll, 2009).
Any potential Crisis is considered as a threat to the company and could cause harm such as distorting the company’ s profitability and growth, therefore, threatening its survival (Tucker and Melewar, 2005). The depth of a crisis which threatens corporate reputation is rather complex. It is worth noting that crises could occur suddenly and/or caused by problems which could have built up over a period of time (Greyser, 2009). Therefore, any company may encounter serious challenges from the public, media, stakeholders and competitors, since it relies on such elements to build trust and reputation (Tucker and Melewar, 2005).
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