Toyota Corolla: Product and Branding Strategies - Essay Example

This paper illustrates that the two main competitors of Toyota are Ford and Honda. Ford has a considerable market share in the United States and European markets while Honda is trying to gain popularity in Asian markets. Ford’s Focus and Honda’s Civic and City models are currently trying to compete with Toyota Corolla. Corolla is one of the most famous vehicles in the whole world, and it is considered a tough family car that is also luxurious. Ford, Honda, and Toyota all focus on toughness with comfort.

This is why there is no great difference in the cars and marketers attempt to cash in the brand value in order to sell their cars. The personality of Toyota is a tall and extremely tough bodybuilder who is also dressed like a businessman. Toyota is known to produce tough cars that provide comfort and luxury to the customers at affordable rates and this is the main reason behind the success of the company. The tough nature of Toyota makes the car attractive for the Asian markets where roads are not very developed.

Through a tough and comfortable brand personality, Toyota is able to attract consumers like honey attracts bees. The relationship of the customers with the brand is quite good but recently the reputation of Toyota was tainted because of the massive recalls of its vehicles in 2011. The recall has tarnished the reputation of the brand and Toyota is fighting to regain its previous position. The relationship between Toyota and its customers can be characterized as ‘best friendship’ relationship which is described as a voluntary union between customer and brand that is made stronger by rewards.

Toyota has to offer rewards to its consumers now in order to attract them. It is a voluntary union because consumers have different alternatives at their disposal.