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Brand Development of Toyota
Brand Development of Toyota
Toyota is one of the giant automobile sectors in this world. They are famous for producing sedan
car. Their most of the car are for middle class people. This is their brand salience. Toyota car is
formal looking. It’s durability is so long and parts of these car are so available. This is about their
performance. Its not a fancy car. It’s a hard-working car. Toyota car is basically used for rough
using purpose. This about their imagery issue. There is no doubt regarding quality of Toyota car.
Most of the people in our country consider Toyota car while purchasing sedan car. This is about
people judgment about Toyota car. People feeling about Toyota car is very positive because it
ensures self-respect and social approval. Toyota is not so much luxurious like BMW, Mercedes
etc. It’s a need for people. Toyota users are very loyal about this brand and brand attachment is
so high between them and Toyota car. They talk positively when they express feeling about its
longevity, durability, credibility, quality, security etc. This is about brand resonance.
Judgement Feeling
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Porter’s five forces model basically helps to diagnose competitive environment. It gives
systematic and structured analysis of market structured and competitive situation which helps a
marketer to formulate a right strategy. Grameenphone has few strong competitors like Robi,
Airtel, Banglalink, Teletalk etc. But among this competitors GP has the most number of
subscribers. Therefore, its market share is high in comparison with other competitors. Other
competitors are also in good position by conducting lots of promotional activities. So here
rivalry among competitors is high. Customer pulling is so high toward Grameen phone. They
do Guerilla marketing. Each and everywhere we can notice Grameen phone customer care, TVC
Ad, Print media Ad, Billboard Ad etc. They have the strongest network connectivity. So threats
of new entrants is low here. Few substitute products are available in market. They are becoming
popular in the market very rapidly like Whatsapp, Instagram, Messenger, Viber etc. So threats
of substitute products are very high here. Grameenphone has numerous suppliers. So here
suppliers bargaining power is low. There are lots of players playing in the market. So buyers
bargaining power is very high here.
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trustworthiness will be increased. Promotion and return policy are also key issues. People prefer
free offer and discount. Return policy should be maintained properly. So mismatch between
product ad and visibility of the product after getting that particular product will be decreased.
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