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Brand Improvement Strategies for Toyota Motor Corporation - Dissertation Example

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The paper 'Brand Improvement Strategies for Toyota Motor Corporation" states that Toyota has been suffering from a number of quality issues. The company has recalled approximately 1.7 million cars in the concern of fuel leaks. It has added another dent to the tarnished reputation in the US market…
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Brand Improvement Strategies for Toyota Motor Corporation
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Download file to see previous pages The domestic markets have turned into global markets that heightened competition rivalry among existing domestic and new multinational enterprises. Since last two decades, society has been experiencing a rapid technological improvement. The technological advancements have led to change the structure 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 the 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 the 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 of creating high business value.
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 competitors, but branding seeks to position your brand so uniquely in the minds of your consumers so that they perceive your product as the only possible solution to your problem or need.  ...Download file to see next pages Read More
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