Question

Toyota Brand Success Level: (Recognition, Preference, Insistence, Equity)

Answer 1

A brand may reach to high level of acceptance among customers when it has been moulded into value system as equity.

Success level of a brand may be idenitifed by identifying at which level the brand is currently residing. First level is recognition where public or customers have become aware of the brand, they think of the name of brand during buying decision process or at least they recognize it familiar to some extent through company's effort like aggressive promotion ettc.

Second level comes when consumers acctually get convinced with the differentiation and services that the company is promising to them hence they start preferring it over other brands ocassionally.

Insistence occurs when loyalyt ocuurs resulting to avoidance of brand switching from the brand and always purchasing the brand.

When a brand becomes a part of sef esteem/ pride/ social status/ gets into value sytem, when consumers start associating themselves with brand then the brand has become an equity- the most succesfull level.

Toyota is a brand that has gaiined much popularity al over the world because of its unique system of kaizen. Zero failure, total quality management and excellent customer services has made this brand an equity among the consumers.

Thus toyota is on equity level of success.