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Toyota Brand Management - Essay Example

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Toyota is currently among the top global brands.The best approach Toyota can apply in branding a new commodity is through integrated branding. Integrated branding involves setting up a brand team, conducting a brand environmental audit, developing brand environmental tools and applying the tools…
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Download file to see previous pages Market analyst’s claim that if a company has a strong brands it has low employee turnover and a lower likelihood of losing its customers. The greatest strength of integrated branding is aligning the actions of the company with its strengths. This implies that the brand should reflect the company’s capabilities (Roll 2006, p.56). A second aspect of integrated branding that is beneficial to Toyota is customer preference. A brand driven company has the mechanisms to acquire knowledge about the customers needs. This information enables to produce in regards to the needs of the customer thus making them satisfied. Satisfied customers are loyal to a company, and this leads to significant sales. Brand environmental audit is essential in the branding process is various ways. The company intending to market a product will know the strengths and weaknesses of the target market. The company is also in a position to know the preferences of a market. With this knowledge, the branding manager strategizes on the branding process (Aggarwal 2008, p.129). The following is an analysis of the Asian Markets. The strength and the weakness of the Yen can produce strong implications on Toyota’s abilities to make sales. If the yen is strong, it gives citizens purchasing power in foreign commodities. This aspect is crippling to Toyota’s branding strategies as they experience reduced local demand. This is to show that the economic status of the region plays a critical role in determining market specificity. The brand a company intends to market, therefore, must pay attention to the economic situation. In this regard, a marketing manager will be careful not to launch an “expensive” product during an economic recession. The Economic situation in Asia is as a result of the political instabilities in the region. However, in recent times, the region has stabilized and there is a marked improvement in the economic sector (Bradley 2005, 71). Another implication on the Asian markets is the media. The positive or negative light shed by the media can make or build a brand. The Media has immense influence because most youth depend on the media for access to information. Globalization of the Media has wide spread roots in the Asian region. Chinese television programmes are a favourite in the region with more and more Asian countries paying attention to Cantonese pop music. There is also the internet whose advancement in the Asian region is rapid. People share information in chat rooms and social networking. The fun Vii is targets the youth, and Toyota has to ensure that the media gives positive criticism to this regard (Aaker 2011, p.33). The other aspect of the asian markets to consider is regionality. This can work for or against toyota in the sense that people can either prefer local brands or foreign brands. However, in the case of asia, locals, especially men prefer local brands to foreign brands. In comparison to U.S brands, Asia brands indicate the mother company of a product and the place of the assembly to his effect. Regionality may indicate the popularity of a product peoples acceptance of the product and the priority they give it. Toyota has already established itself in the region, so this is not a likely huddle for them to jump over (Cayla & Eckhardt 2007, p.217). Consumer attitudes are extremely influential in determining trends in the Asian markets. The asian markets are particularly keen on technological advancements. The deep rooted culture of innovation plays a prominent role in the branding techniques and the design of the product. The Asian markets, in view of embracing globalisation, focus on the future prospects and not on the current events. Asian innovations ...Download file to see next pagesRead More
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