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The brand strategies which Toyota May Adopt to improve tarnished brand image - Essay Example

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Toyota Table of Contents Introduction 4 Chapter 1 7 Company Overview: Toyota Motor Corporation 7 RESEARCH QUESTIONS 12 Chapter 2 13 Literature Review 13 Branding 13 Brand Identity 17 Marketing Communications 20 Integrated Marketing Communication 22 Brand Building 26 Brand Awareness 27 Brand Repositioning 31 Brand Communication 33 Developing Brand Strategy 34 Research Methodology 43 Research Framework 43 Population and Sample Size 44 Survey Instrument 45 Data Collection 45 Ethical Consideration 45 Limitations 47 Chapter 4 48 DATA ANALYSIS, DISCUSSION AND FINDINGS 48 Secondary Data Analysis and Findings 48 Primary Data Analysis and Findings 55 Next question was based specifically on Toyota perf…
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The brand strategies which Toyota May Adopt to improve tarnished brand image
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The brand strategies which Toyota May Adopt to improve tarnished brand image

Download file to see previous pages... In the end the individuals were asked about their opinions and views regarding Toyota’s recall process and the reasons associated with this critical situation. According to them their perceived quality of Toyota as a brand has decreased and they are unhappy to pay the same amount of money which Toyota is actually asking because they should be aware that their brand quality has been tarnished and needs improvement. Most of the security concerned individuals stated that they will altogether stop buying Toyota’s products as they are outsourcing most of their automobile manufacturing. Hence it is evident that the higher management must put more effort in building up to quality and service to reposition their tarnished image in the minds of their customers. 69 Chapter 5 70 Recommendations 70 Conclusion 75 Appendix 90 Introduction The modern age of business can be defined as age of competition. The competition within an industry is gradually increasing with the expansion of business as many new players are entering into the market. There are several reasons behind this intensifying competition. Firstly, globalisation is one of the primary reasons for expansion of trade and business that lead to increase competition. Many business organisations have found greater opportunities in overseas market, and free trade policies and agreements between multiple countries facilitated their market expansion programs. The domestic markets have turned into global markets that heightened competition rivalry among existing domestic and new multinational enterprises. Since last two decades, the society has been experiencing a rapid technological improvement. The technological advancements have led to change the structure of entire trade and business. The management tasks and operational process are now backed with technology like e-commerce and e-business. A better grip of technological advancement helps a business organisation to gain an upper hand position. Finally, enhancing economic condition of consumers and increasing their disposable income have strengthened their purchasing power. This has also changed their consumer buying behaviours and they have developed their specific brand preferences (Vashisht, 2005, p.68). In the modern and competitive business world, business organisations always try to position itself in market for avoiding unnecessary competitions. In this process they aim to achieve strong competitive advantages and core competencies that enable them to gain upper hand position in the market. There are multiple ways to achieve competitive advantages; however, brand development is the most preferred way for creating high business value (John R. Schermerhorn, Jr, 2010). The American Marketing Association (AMA) describes a brand as a "name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers. About.com Marketing Guide further explains that the objective of branding is not just to project yourself as being better than your ...Download file to see next pagesRead More
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