In some rhelms, people are calling the
Toyota recall a desperate move. However, in others, by taking a huge financial hit with the recall, people are claiming
Toyota is saving face by showing it's devotion to it's customers. In a tight economy, and operating in a market where customers make a purchase once every seven to ten years,
Toyota issuing the recall is an effort that will cost them in the short run, but will create customer loyalty in the long run. In doing so,
Toyota is banking on customers being loyal to them for their honesty and their ability to dissect a problem, in order to keep repeat customers returning in the future. Both Honda and Peugeot have since issued their own recalls in an effort to emulate the car making giant...hopefully American car makers are taking note on how proper management of a dire situation can create brand loyalty in the future.
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Posted by gethuman on Tue, 2 Feb 2010 8:10pm
