Building brand equity and value of Toyota

By Ntebaleng Seemola 

 Toyota was  founded by Kiichiro Toyoda and incorporated on August 28, 1937.in Japan . It is a foreign brand that is has found its presence locally and well received by consumers . Building a brand such a Toyota with so many decades in existence can be good and bad for the brand .  Toyota has  8  sub-brands within its brand that caters for different markets and improved its brand equity  and give customers a free-range choice of what applies  to their needs in a car it is all about the experience and reliability of the car .Some brands are founds in South Africa and some in Esia . Sub-brands are Toyota Hilux ,Toyota Camry , Toyota Sienna , Toyota Corolla, Toyota Tacoma ,Toyota Supra  and Toyota RAV4 .  From personal to commercial vehicles that Toyota brand this gives the customer value for their money .

Brand Name : the name of the brand is the most important aspect of the brand , we customers identify the brand with the name , meaning the logo must be innovative , easy on the eye so one can always remember , relatable and serve the needs of the consumer .The name also give the brand credibility to the consumer . Toyota brand will always be noticeable and acknowledged . With or without competition the brand has been identified as the best that serve the best vehicle in the market. Toyota  cars are  Technologically innovative , Reliability , safety, and Respect for the planet.

Brand loyalty : Toyota vehicle are loyal to the consumer as they have the best reputation in the market . A bit costly when you purchase  but affordable to maintain and service and  it is a car that will last you longer and it can be passed on to generation to come . They manufacture strong and reliable  cars that are built to serve the means of transportation of goods, service, and daily needs of the customer. The more accolades that the vehicles receive it create new loyal consumers to the brands and more interest to the brand. Loyal customers play a great big role in the marketing of the brand as they use the word of mouth  subconsciously so marketing the vehicle the drive that increase interest in the brand and sale revenue .

Perceived quality :Toyota is one of the reliable motor brands , it is  reputation speaks for the brand . Its build for a long-life span.  Its not a brand that easy have break downs and with their affordable  service plan package . The cater for all they have varsity package with small vehicle that accommodate a student  life budget to be mobile and high-end CEO budget . Customers are always willing to pay high price for quality and for the experience driving a comfort. Price is never an issue. As the Toyota Yaris been maned car of the year 2021 the demand of the vehicle will increase, and the price will go be increased but that will not decrease the demand in purchasing the car .

Brand association: customers have an  emotional relationship  associated to the Toyota brand because of the confidents and trust they have in the brand. The customers intend to purchase is based on the confidence sale and favourable brand in the market . Few years back Toyota had to call back ( recall)  some vehicle back to the manufacture due to some era that process duck a deep whole financially the customers  trust that the consumer has in the brand but because of the loyal relationship and emotional attachment to the brand after sometimes it was business as usually sales where up and even increased .

https://www.instagram.com/toyota_sa/

http://www.youtube.com/toyotablogs

http://www.twitter.com/toyotasa

http://www.facebook.com/toyotasouthafrica


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