My favorite brand is Toyota. The brand belongs to a Japanese multinational automobile known as Toyota Motor Corporation (TMC). Toyota first hit the automobile market in 1936, after a realization of how fast the company was establishing a credible automobile industry. This followed a change of organization brand from Toyoda which represented the corporate emblem of the multinational and its founder since the automobile’s conception in 1924 ( Nkomo, 2013) . The brand change was initiated in 1989, where the company also adopted a newer logo to accompany the brand name and has since then established more recognition, loyalty and consistency from global customers. What intrigues me about Toyota is the enthusiasm to realize customer satisfaction through convenience, affordability and consistency. The brand is currently valued at US$264.7 billion, and apart from being the 5 th ranked largest company by revenue in the world, the organization maintains a sustained production of more than 10 million vehicles every year, since 2012.
Toyota collectively projects a promise of inclusion, mutual trust and beneficial relationship, between the automobile and the brand’s customers. Particularly, from their debut launch of the Toyota brand and logo in 1989, the company implied a mutual representation of the company and their customers using two perpendicular ovals inside the brand logo ( Nkomo, 2013) . Moreover, Toyota promised world consciousness using the outer oval that encloses the customers’ and the company’s symbols. This is not to forget the representation of the infinite numbers of production units insinuated within the spaces between the brand logo which is a clear indication of the zeal and vehemence of the brand’s top production numbers since 2012. Additionally, as Drew Boyd states, to make a brand promise believable, one ought to blend a notch of authenticity tied to the core values and the purpose of the brand ("Understanding the branding process," 2018) . In this respect, Toyota amalgamates the Japanese culture of quality and faultlessness in developing their products, which is reflected by their customers’ reception and the supernormal aggregate ownership of the Toyota branded vehicles in the world.
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To establish market domination, Toyota embarks on customer-oriented brand touchpoints. Firstly, Toyota bases its brand superiority on consistency. This is in line with the steadiness that the Toyota Company has sustained, especially in the recent years. Apart from encircling the global automobile market with their original production in Japan, the company embraces other subsidiary production units inclusive of, Daihatsu, Hino, and Lexus who ensure specific market segments such as Europe, South Asia and the Caribbean get to experience their insurmountable brand (Loureiro, Ruediger & Demetris, 2012) . Secondly, Toyota braces customer loyalty with a perceptual understanding of the automobile industry. Unlike the automobiles companies that rely on class and status of their clientele base, Toyota alters the perception of owning a car through embracing price differentiation among customers of varying class and status, yet producing exquisite vehicle brands.
Finally, Toyota thrives on the touchpoint of affordability which corresponds to the forces of demand and supply in the business realm. Notably, Toyota tops the African market by virtue of their inexpensive brands and variety, in which customers can exercise willingness and ability to purchase a car. The touchpoints discussed above are important in ensuring that Toyota sustains their customer base and if anything, to attract the new customer entrants continually. Gul et al. (2012) infer that a brand is crucial to realize loyalty and esteem for the organization. Indisputably, Toyota’s consistency in the automobile industry is established on their resolution to change consumers’ perception and to recognize that quite a significant market share is inevitable when affordability reigns.
References
Gul, M. S., Jan, F. A., Baloch, Q. B., Jan, M. F., & Jan, M. F. (2012). Brand image and brand loyalty. Abasyn Journal of Social Sciences , 3 (1), 55-74.
Loureiro, S. M. C., Ruediger, K. H., & Demetris, V. (2012). Brand emotional connection and loyalty. Journal of Brand Management , 20 (1), 13-27.
Nkomo, T. (2013). Analysis of Toyota Motor Corporation.
Understanding the branding process. (2018). Retrieved from https://www.lynda.com/Enterprise-Marketing-tutorials/Understanding-branding-process/171053/372368-4.html
