Faith on quality
How are brands created and destroyed.
- Can a poor quality product destroy a brand?
- What does it take take a brand to its death bed?
4 largest car companies failed the quality tests and had to recall their vehicles. These include brands like
- Toyota (JAP) – related news
- Honda (JAP) – related news
- Tata (IND) – related news
- Porsche (GER) – related news
Let’s take Toyota as an example, The problems are not just restricted to new car sales for Toyota or Lexus, it affects the complete economy as well because it’s such a huge organization. Its estimated that each vehicle has a $310 impact on local economy. You do the math. Toyota has recalled more than 8million cars since Nov 2009.
- The port where the new cars arrive is getting affected as the workers in these ports are out of job.
- New car sales is one part of the problem, the sales of used cars is also a big market that is getting affected.
Toyota brand will surely not die, just because they recalled millions of vehicles. But what about the consumers, the products that sold purely because of the quality that they promised, will the customers return back to buy these products or the marketing and PR divisions of these organizations will “buy out” people and their faith back to these products? What I am trying to address here is, all these companies spent decades building their brands and then all of a sudden the ONLY thing they were proud of let them down. What went wrong with a company that has been the front runner on quality!
In Toyota’s support: Has Toyota lost it’s edge.
For few years my roots and boots were continents apart, now they both are together.
