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Essay / Research Paper Abstract
This 3 page paper looks a the problems that Toyota were having at the beginning of 2010 with vehicle recalls and assess the issues from an economic approach, considering the impact that the changes may have on the demand explaining the underlying influences. The bibliography cites 4 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEtoyeco.rtf
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Unformatted sample text from the term paper:
has created a high level of negative publicity that will impact on sales (Smith, 2010). This is further complicated by the recent speculation that there are some potential problems with
ineffective breaking on some of the hybrid Prius models, which may also impact on the Lexus HS250h which uses the same braking system. These incidents are all likely to have
an economic impact. When considering these articles from an economic perspective they are indicative of the way that the company may face problems as a result of a decline
in demand due to the negative publicity that safety alerts of this nature will cause. In order to make a profit the firm has to sell cars, there is
a ready a negative economic climate it is impacting the amount of disposable income individuals have to purchase cars directly, or to use to fund a loan for a car
purchase. This is reducing the amount of cars that are being purchase. During recessions is also known and large purchases, such as cars, but often be delayed with repairing and
maintaining existing groups acting as an exception substitute (Nellis and Parker, 2006). The use of safety difficulties is likely to make customers less enthusiastic about purchasing a Toyota. In any
industry the way in which the demand emerges is subject to a large number of factors, this includes the perceived quality value of the product, as well as the competition.
The use of one safety issue; the gas pedal, is likely to have a negative impact. Individuals who are concerned they may suffer the same problem will look for a
competing product; therefore they will satisfy their need for the product, just not from Toyota, impacting in the way that the demand is satisfied. This creates a problem for Toyota
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