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Essay text:
Building a brand name might have helped Toyota achieve wide-reaching recognition, personable impressions of quality and standards, loyalty and the support from various other parties such as distributors, suppliers and agents.
Toyota must have had a clear vision of the size and position of the market it wanted to attain and the principles it would be associated with. To achieve this, several issues have to be handled. Most of which are listed below.
• the number of sales
• market share they wished to reach
• profit objectives they wished to meet
• geographic locations they aim to operate in
• competitive attitude they wish to employ
• segments of target market
• positioning strategy within the target segments
• brand values to develop
• name under which brand is to be developed
• strategy towards brand extensions
• pricing points to aim for in the short and long run
• licensing
• brand development policy
Toyota must have focused on these above mentioned points to make the brand name known worldwide...
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