Nobody downloaded yet

Toyota Brand Management - Essay Example

Comments (1) Cite this document
Summary
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…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.5% of users find it useful
Toyota Brand Management
Read TextPreview

Extract of sample "Toyota Brand Management"

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
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Toyota Brand Management Essay Example | Topics and Well Written Essays - 3000 words”, n.d.)
Retrieved from https://studentshare.org/management/1397231-toyota-brand-management
(Toyota Brand Management Essay Example | Topics and Well Written Essays - 3000 Words)
https://studentshare.org/management/1397231-toyota-brand-management.
“Toyota Brand Management Essay Example | Topics and Well Written Essays - 3000 Words”, n.d. https://studentshare.org/management/1397231-toyota-brand-management.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
we
wehnerlacy added comment 1 year ago
Student rated this paper as
This document saved me today. I liked the structure. It was very useful for my management course.

CHECK THESE SAMPLES OF Toyota Brand Management

Brand Management

...? Chrysler Brand Management Chrysler Brand Management Introduction Brand management is the process of compelling a towards a product offering, through differentiating the product from other similar ones. The practice of brand management is psychological in nature, and is based on the idea of fitting a product in the life of a person, for whom it is designed. The most challenging part of this branding progression is to fulfill the promises, which are made with customers through advertisement and marketing. However, the technique of under-promising is an ideal one in these circumstances, which focuses on delivering more value in terms of price, quality and ease of use, than the customer expects. Through, successfully implementation... of this...
6 Pages(1500 words)Assignment

Brand Management

...(Chitale and Gupta, 2011; Majumdar, 2004; Kurtz and Boone, 2008; Gelder, 2005). By understanding the influence of these factors on the position of the brand in the market place, the management of the organization will be able to forecast the health of their brand in future and will be able to plan their strategies. This will help them in re-energizing the brand by creating new market opportunities. Groucutt (2006) suggested that the Darwinian theory of product development is also applicable for the brand development. The various stages of product development are shown in the figure given below. The key component includes introduction, growth, maturity...
12 Pages(3000 words)Dissertation

Brand Management

...and more. So brand management is also about living the promise of the brand till it exists. There are various ways to evaluate the effectiveness of a brand. The most important criteria are: Brand Image: A brand has a personality and a promise and the impression or image of that personality in the mind of a consumers’ mind of a brand’s character is known as brand image. Brand image is the overall impression of a brand that a consumer acquires from various sources. For example while purchasing a car Nissan would be associated with style, while Toyota is...
11 Pages(2750 words)Term Paper

Brand Management

...brands are the automobile brands and they are the most known of its brands, especially because of the prominence of its Toyota Production System (TPS) (Amasaka 2009; Vokurka, Lummus, and Krumwiede 2007). Toyota’s total quality management system is not just focused on the technical side of the production system; it is also a management and leadership viewpoint (Bodek 2008, 40; Liker and Morgan 2006, 9). The management is trained to see and practice quality in a holistic manner, which includes the hard and soft side of management (Udugawa 1995, 111). The hard side of...
6 Pages(1500 words)Essay

Toyota Brand

...?Toyota Brand Toyota’s value proposition has been focused on reliability issue, parts supply and quality (Toyota Corporation 5; Toyota Forklift Toyota believes that customers are after of reliability issue and that they are after of the value for their money. Thus, part of it is to ensure that the products they purchased were built to keep on working. Toyota sees to it that the products they produced are built to minimize maintenance cost. In this way, the Toyota brand over a period of time has earned remarkable reputation for its impeccable reliability. Thus, history of its recalls on...
1 Pages(250 words)Essay

Brand management

...?Brand Management Project s [IDs Number Prof Every generation of gamers sees “console wars” wage in Europe, Japan and America. Beginning with the Atari competing against numerous imitators and knockoffs, moving to the NES and the Master System, the Sega Genesis and the Super Nintendo, and then onto tripartite wars such as the Playstation/Nintendo 64/Saturn era and the Gamecube/Dreamcast/Playstation 2 era (which saw Sega disappear and Microsoft enter with the XBox), there have been numerous brand conflicts between software and entertainment giants (PBS, 2009). The present console conflict is between Nintendo's Wii, Sony's Playstation 3 and Microsoft's XBox 360. As it is now nearing the end...
12 Pages(3000 words)Essay

Brand Management

...? Brand Management Contents Contents Introduction 3 Back ground of the brand 4 Brand Elements 4 Usage based brand equity (CBBE) Model 79 Brand Strategy 9 Marketing Communications Integration 16 Sustaining the brand 20 Conclusions 21 Recommendations 22 References 23 Introduction The origin of the word “brand” has come from the original Norwegian word “brand” which means to burn. The farmers used to put some burn identification marks on the livestock to distinguish the possession. This still happens to the main objective of branding or brand building in...
10 Pages(2500 words)Coursework

Toyota Brand Analysis

...Toyota Brand Equity: Introduction: A brand is a or symbol used to identify the source of a product. When developing a new product, branding is an important decision. The brand can add significant value when it is well recognized and has positive associations in the mind of the consumer. This concept is referred to as brand equity. What is Brand Equity Brand equity is an intangible asset that depends on associations made by the consumer. There are at least three perspectives from which to view brand equity: Building and Managing Brand Equity In his 1989 paper, Managing Brand Equity, Peter H. Farquhar outlined the following three stages that are required in order to build a strong brand: 1. Introduction - introduce a quality product... allowed...
4 Pages(1000 words)Essay

Brand management

...BRAND MANAGEMENT, MERCEDES College Brand Management, Mercedes Brand Identity Mercedes-Benz is a decades old company that specializes in automobile manufacturing. The company utilizes the motto “Best or Nothing” to describe their cool automobile brands that have attracted many customers across the world. This brand is used for luxury automobiles, buses, coaches and trucks, being the centre of their manufacturing. The brand target market is middle income earners and the upper class in the society due its relative high cost as compared to its competitors such as Toyota. The middle and upper...
11 Pages(2750 words)Essay

Building Successful Brand of Toyota

...for its products. As noted, the company faces fierce competition from other brands for the global market, which has meant that Toyota needed to reposition itself using contemporary means to stay ahead of the competition, at which they succeeded (Wheeler, 2013: p20). This paper seeks to discuss how Toyota has managed to build a successful brand. Quality Toyota Motors is responsible for total quality management or TQM, receiving numerous awards for quality management, such as the Japan Quality Control Award and the Deming Application Prize. The TQM strategy at Toyota is based on the...
5 Pages(1250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Toyota Brand Management for FREE!

Contact Us