Brand Audit Essay

5559 words - 23 pages

PLATINUM CONSULTANCY
BRAND AUDIT REPORT
ON
TOYOTA

SUBMITTED TO: SUBMITTED BY:
Dr Kokil Jain Manisha Singh
Shanu Garg
Ishaan Chaudhary
Amber Jain
Akshay Bhandula
...view middle of the document...

Its brands include the Lexus, Prius, Avensis and Auris.

Japanese automakers - Toyota have developed bilateral and multi-lateral knowledge sharing routines with suppliers that result in superior inter organizational or network learning. Toyota, in particular, is widely recognized by both Japanese and U.S. firms as a leader in continuous learning and improvement. There are a number of reasons to examine Toyota’s practices in greater detail. First, Toyota is the largest Japanese company and is regularly voted by Japanese executives as the best managed and the most respected Japanese company. Second, the most rapid diffusion of lean production techniques (e.g., kanban, inventory reduction) has occurred within Toyota and its suppliers (Lieberman, 1994). Moreover, Lieberman et al (1997) found a significant positive correlation between membership in Toyota’s supplier association and supplier productivity. In summary, Toyota’s “network” appears to be highly effective at facilitating inter-firm knowledge transfers and may be a model for the future. The automaker, Toyota, is the “central” or core firm in the network because: (1) Toyota is the only firm with direct ties to every other firm in the network, and (2) Toyota coordinates the activities of all firms in the network. As the central firm, Toyota also has the most to gain from developing learning routines that increase the efficiency of the entire value chain or production network.

The company claims that “80% of all Toyotas sold in the last 20 years are still on the road today.” Toyota is a strong car, a tough brand and far ahead in the branding strategy as compared to its Japanese competitors Honda and Nissan.
The company has built its brand around 5 key factors:

* Durability
* Reliability,
* Affordability,
* Style and
* Fuel efficiency
A recent brand value report by Interbrand according to the report, Toyota has retained its top  position and is at placed 11th as the gas efficient GREEN Brand. The report says ,“ Toyota not only distanced itself from the challenges of 2010 and 2011 this year, but also reclaimed its global sales leadership position. Although much of the rebound occurred in the US, there is a renewed sense of energy around the world. Design is playing a much bigger role, and its new tagline, “Let’s Go Places,” ties together the joy and adventure of physically going somewhere while infusing innovation with an optimistic outlook, crystallizing the brand’s direction. Toyota’s engagement with customers also continues to pay off, which is evident in a number of key category rankings and studies. The brand not only scored well with customers, but has led the entire automotive segment nearly every time. Adding to the list of achievements, Prius sales pushed boldly past the three million mark. The Prius continues to create a powerful halo effect for the brand while the flagship mid-cycle Camry can still drive sales, albeit with increasingly more incentives and...

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