Brand audit

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Emily Frazier Kat Schober November 6, 2014

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TABLE OF CONTENTS

A. EXECUTIVE SUMMARY……………………………………………………………….3 B. COMPANY HISTORY & BACKGROUND…………………………………………….3 C. OBJECTIVE OF BRAND AUDIT……………………………………………………….4 D. COMPANY ANALYSIS…………………………………………………………………4 1. INDUSTRY ANALYSIS……………………………………………………4 2. PRODUCT ANALYSIS……………………………………………………..4 3. MARKET ANALYSIS………………………………………………………4 4. COMPETITIVE ANALYSIS………………………………………………..4 E. INTERNAL AFFAIRS ANALYSIS……………………………………………………...4 F. EXTERNAL AFFAIRS ANALYSIS……………………………………………………..5 G. BRAND INVENTORY…………………………………………………………………...5 1. TARGET MARKET…………………………………………………………5 2. MARKETING MIX (THE FOUR P’S).. ……………………………………6 3. BRAND ELEMENTS………………………………………………………..6 4. BRAND MANTRA………………………………………………………….7 5. BRAND PERSONALITY……………………………………………………8 6. BRAND ARCHITECTURE…………………………………………………8 7. BRAND INVENTORY ASSESSMENT…………………………………….8 H. BRAND EXPLORATORY……………………………………………………………….8

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RECOMMENDATIONS………………………………………………………………….9

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REFERENCES…………………………………………………………………………..12

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Executive Summary This report fully analyzes every aspect of the Toyota Motor Corporation with a specialization in a local Toyota Visitor Center. In the following pages, accounts of image marketing and branding are explored. This company has been successfully on top of the automobile game for many years and that can be seen by its consistent branding efforts and positive consumer perceptions.

A full branding inventory including concentrations on target market, marketing program, brand elements, brand mantra, brand personality and brand architecture are detailed in this brand audit. These comprehensive analyses help to form recommendations given at the end of the audit to help push the local Toyota Visitor Center to be more informative and to capture more attention in the community as well as become more utilized within its capabilities.

Company History and Background Toyota Motor Corporation, from here on out referred to as Toyota, is an automobile manufacturer with headquarters in Japan. Toyota’s founder, Kiichiro Toyoda, branched off of his father’s company, Toyota Industries, and began his own company to create automobiles. Toyota is a part of one of the largest conglomerates in the world, the Toyota Group, and also holds a spot as one of the 20 largest companies in the world based on its revenue.

In 1930, a curious Kiichiro Toyoda started his research into gasoline-powered engines.

Three years later, an automobile department in Toyoda Automatic Loomworks, Ltd. was born.

Officially founded in 1937 as Toyota Motor Co., Ltd., it has since grown into the largest automobile manufacturer by production according to research completed in 2012. The first production of automobiles began at least two years before the founding and since its establishment has continued to grow with its 1 millionth vehicle produced only 25 years later.

Toyota entered the United States market in 1957, when the Japanese company exported its first passenger car. This export established Toyota Motor Sales, U.S.A., Inc. Over the next several decades, Toyota continued its rise into American automobile sales. During the course of the 1980s, 1990s, and early 2000s Toyota prolonged its growth by establishing plants in Europe, the Americas, and throughout Asia.

Toyota establishes the Toyota Foundation in 1974, an organization concerned with issues including social welfare, education, and the environment by providing grants for research and projects that align themselves with these issues. “Toyota’s guided philosophy is to make the automobile an integral and beneficial part of a prosperous society.” The Foundation aims to encourage potential for the future in these areas, and remains firmly committed to its founding values throughout its evolution.

Lexus and Scion were introduced under the Toyota brand in 1989 and 2002, respectively. As divisions of the brand, both are sold globally and marketed worldwide. Since its inception, Lexus has become Japan’s largest selling make of premium cars and has ranked among the top global brands based on market value.

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Objective of Brand Audit The objective of this brand audit is to fully analyze the Toyota Motor Co. brand. Focal points of the brand audit will include the analysis of the Toyota Indiana Visitor’s Center, located in Princeton, IN, and it’s impact on the surrounding community. This brand analysis will give insight to the company’s value system and brand elements. Recommendations for the local visitor’s center will follow the analyses.

This report is responsible for comparing this company to other automobile manufacturers and explaining the history and background of the company. Its contents will showcase how Toyota has differentiated itself from other brands and automobile companies.

As a result of this brand audit, the Toyota will be easily deconstructed and understood as a cohesive brand. That brand will be further put to use in aiding the Indiana visitor’s center in future endeavors involving the community. Similar tactics can be utilized in other visitor’s centers across the U.S.

Company Analysis (Industry, Product, Market, Competitive) Toyota is a company that dominates the automotive industry. Based on research gathered in 2012, it ranks at the top of the list of companies producing automobiles. Toyota is a moderately priced vehicle, approximately averaging in the median price for a new car in 2013. This places Toyota in a good position, setting a reasonable price for its vehicles while still producing the required amount of automobiles.

Throughout the history of the company, Toyota has produced well over 100 million units under a variety of over 50 models. The variance in its product appeals to a wide target market.

However, since technology, economy and the environment are constantly changing, there is a growing demand for newer models. Their product has consistently been one of the best offered.

Toyota is established in a very competitive market. producers, each one fighting to be the best. With Toyota’s detail, they must stand out compared to their competition. include General Motors, Honda, Ford, and Volkswagen. companies that have major pull with their brand names.

There are dozens of motor vehicle growing diversity and attention to The top competitors in the sector These are all widely established

Due to the widely competitive market, Toyota must have a strategy and technique to differentiate itself from its competitors. This brand audit will continue its analysis of market strategies and techniques in a later section.

Internal Affairs Analysis The culture within Toyota is very friendly and community driven. They are a company of the world and are here to serve the world. Their mission statement reads as follows: "Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and most responsible ways of moving people. Through our commitment to quality, constant innovation and respect for the planet, we aim to exceed expectations and be rewarded with a smile. We will meet our challenging goals by engaging the talent and passion of people, who believe there is always a better way." Their position in the market is to not only sell automobiles, but ensure the safety of all the automobile consumers and care for the planet at the same time.

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The brands values shine through in everything they produce, from products to product marketing. Toyota has been environmentally conscious since its inception and intends to stay that way. The voice that Toyota projects is authoritative and firm in its efforts. They abide by their mission statement on all fronts.

Internal operations are very respectful at Toyota facilities and offices. In the early 1990’s, a set of company guidelines were drafted up and then translated from the original Japanese. They convey points of respect for colleagues, pushing creativity, a worldly environment and safety above anything else. The founder of Toyota had a set of principles that the company still stays true to: •

Always be faithful to your duties, thereby contributing to the company and to the overall good.

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Always be studious and creative, striving to stay ahead of the times.

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Always be practical and avoid frivolousness.

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Always strive to build a homelike atmosphere at work that is warm and friendly.

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Always have respect for spiritual matters, and remember to be grateful at all times.

External Affairs Analysis The way a company presents themselves is a major component to public opinion about them. Relevancy is kept in being prominently featured in news media and social media. Taking the reigns on external affairs is a viable option as well. It’s good to be on the offense, no the defense, in the corporate world.

Toyota presents themselves on their well designed website and few social media platforms. They maintain a Toyota Global Facebook page, Google +, and Youtube account. All of their information, including links to their social media, can be easily found on the their website, Toyota-global.com.

The company also engages in expected forms of advertising: print ads, brochures, TV commercials, radio spots and press releases. The most basic external aspect of the brand, the Toyota logo, will be discussed in depth further into the brand audit.

Brand Inventory Target Market Overall, Toyota’s largest target audience market would be the educated working adults of developed, urbanized countries. However, when reporting the target market for Toyota, it is important to note the different and best-selling models they make and divide it up in that way.

This section will be divided into the five best-selling models Toyota makes: Avalon, Camry, Corolla, Yaris and Prius.

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Starting with the Toyota Avalon, which was first introduced in 1994 as the first generation, and has grown into the fourth generation that is present today. This model is generally aimed at younger baby boomers ages 40 to 60. Research they conducted showed this demographic regularly consumes media through multi-screens, and has developed a fully integrated campaign to capture this audience.

The Toyota Camry remained America’s best-selling car for more than a decade. This car has a larger target audience due to its affordable price and design that appealed to several generations of users. It is generally aimed at the whole demographic of vehicle drivers since it is a car that spans time and price.

Next, the Toyota Corolla aims for the young, tech-savvy millennials. The advertisements surrounding this model focus on a millennial audience who are “looking to buy their first real car to accelerate their career.” The targeting strategy used with this audience has been focused on mobile usage. Toyota launched a “Mobile Test Drive” campaign where drivers can get a virtual experience of driving a Toyota Corolla.

The Toyota Yaris is also targeting a younger audience. It is using advertisements on a Facebook page such as promotional videos, interactive games, and a campaign spokesman to engage potential customers. The social media aspect of this campaign generally tells the consumer it is aimed at a younger audience, as that it the dominating age group on the social media websites.

Lastly, the Toyota Prius is the most widely desired model of the five. It has a relatively low operating cost, and with rising gasoline prices, this has become a major point of concern. Due to this heavy desire, the target audience for the Prius is also aimed at a wide variety of people.

These people range from teenagers to consumers in their early 30s.

Marketing Program The Princeton visitor’s center does a great job on staying open and willing to answer any and all questions consumers may have. However, the issue at hand is that not many consumers are taking that opportunity to visit and learn about the company. Toyota Princeton wants to increase the number of visitors they have as well as increase awareness of their visitor’s center.

Besides this issue, it is also hard to get the visitors they do have to come back due to their information not changing very much between visits, if at all.

Out of the four P’s, Toyota focuses mostly on product. This being said, Toyota Princeton has a budget of $40,000 per year on image marketing, which is basically just promoting their brand.

Another focus of their marketing program is placement. They are obviously lucky in that their brand is widely used and can be seen numerous times on any given day, but placement of promotional materials is also a very important part of branding and marketing. Currently, they are using billboards on major roads and increasing their social media presence.

Brand Elements Toyota Motor Corporation was named after its founder, Kiichiro Toyoda, changing the spelling slightly. The brand’s icon is widely known, incorporating its name into the symbol. This logo is a combination of name and icon.

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Toyota does not have any character or mascot associated with its brand. The company relies on its widely recognizable logo to spread brand awareness. The logo is on every model and brand they make along with the name of the specific model. Toyota is known for being affordable, economical, and reasonable for everyday lifestyle. This reputation has stuck with the brand for many years, and will potentially stay with them for as long as they are a competing brand in the automotive industry.

Brand Mantra The brand mantra of Toyota is “always better cars.” In his speech given in 2011, the president of Toyota, Akio Toyoda, refers back to this principle more than once. It is something the company is constantly striving for, and continuing to do everything they can to achieve that goal. He states, “Creating ‘always better cars’ is our chief focus as an automaker.”

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Brand Personality Toyota’s brand personality can be described as responsible, determined, and openminded. The brand has held its own for over 75 years in the increasingly competitive automotive industry. It continues to be the best-selling automobile producer in the world, and customers constantly give it good reviews and feedback. One of the most important traits about Toyota is that they are accountable, and know what they stand for. In the past, if there has been trouble, Toyota has always been able to address the problem head on and avoid any major struggles. They can be counted on, and that is definitely what a customer wants to see in a brand.

Toyota is also very determined. Their mantra is “always better cars,” which proves that they are always trying to make things better. They believe there is something that can be improved upon in one of their models. With the ever-changing economy and technology, this is not far from the truth. There is always something to improve upon, and for a brand that is so constantly in the public eye, this is a good trait to have.

Lastly, the Toyota brand is open-minded. Looking back to the “always better cars” mantra, it is important that Toyota keep an open mind about new ideas, strategies, and techniques.

Though they are at the top of their game and leading the rest in the automotive industry, there are always new ideas being introduced, and Toyota should always keep an eye out for those types of things currently and in the future.

Brand Architecture While Toyota Motor Corporation is the main company it employs an umbrella technique of overseeing branches of the company. These branches include the several American production plants as well as the ones located in Europe and throughout Asia.

Brand Inventory Assessment From the information gathered, it can be assumed that the quality of the brand’s elements, personality, and architecture are well put together by the company. Toyota does an excellent job at staying consistent with their messaging and keeping up to date with new trends and strategies used in the public relations field.

Brand Exploratory The goal of this brand exploratory is to pinpoint what consumers associate with the Toyota brand. In the most recent Car-Brand Perception Survey conducted by the Consumer Report’s National Research Center, Toyota was the highest ranked highest among car manufacturers in America. It has a 25-point lead ahead of second-place Ford, which is a 5-point improvement from the previous year. This survey is based a score that consumers placed on brands in the following categories: quality, safety, performance, value, fuel economy, design/style, and technology/innovation. This survey measured the perception of the public on the car companies’ brand presence. Consumer Report Deputy Editor Jeff Bartlett says, the consumers opinions are “influenced by word-of-mouth, marketing, and hands-on experience”.

Toyota vehicles are viewed as reliable, affordable, and family-oriented. This aids the brand in advertising itself as an economical manufacturer of safe cars. These attributes make a

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Toyota car into an American dream car, although it’s of Japanese descent. In the Car-Brand Perception Survey, Toyota was most notably mentioned when it came to the quality and safety aspects. The brand is widely known on the west coast but not as known in the other parts of the country, especially the east coast.

Following the results of the aforementioned survey research, Toyota is not seen as luxury or design oriented. The public consumer does not go to Toyota for a fashionable car nor does he/she expect the newest technology to emerge from this brand. But the customers Toyota has accrued over the years are loyal customers that believe in the brand for what it is. Despite some product recalls in the past, the Toyota brand is still trusted. Product recalls would normally be disastrous for a company’s image, but all of the recall procedures have been done voluntarily out of concern for the product and the public. Safety and assurance are the biggest attributes associated with the Toyota brand.

Toyota’s Indiana Visitor’s Center also sends out a message for the local publics to perceive. Upon entrance smiling, Toyota employee faces and a wonderfully modern exhibit greet you. The terms associated with this establishment are open, informational and friendly. This center lends itself to being very community oriented because it is a little community within itself.

Recommendations Campaign Goal • •

Increase visitor numbers to the Toyota Princeton Visitor’s Center Make Toyota a part of Southern Indiana community Strategies & Tactics Community Involvement: Increase engagement and visitation with promotional events.

Wider Promotion: Streamlined ad campaign running in newspapers, on radio, billboards, and social media.

Center Adjustments: Make center an ever-changing exhibit to increase returning visitor rate.

For the Indiana Visitor’s Center, it is recommended that more community involvement take place. Stop waiting for the community to come to you. Evansville’s Annual West Side Nut Club Fall Festival takes up blocks with its booths of foodstuff. Sponsoring a booth would let the community know that you appreciate the surrounding culture and give great ad space. It would also get the community within the Toyota plant stirring to help out with the booth.

The parking lot out front lends itself well to grandiose festivities. A “Family Day” of sorts could be implemented as an annual get together for the community, the workers and their families, and the corporate company image. This brand is family-oriented and it better start acting like it! Get other sponsors for the festivities that back up your family ways. Local auto businesses in Princeton would be good potential sponsors. This would be mutually beneficial for the local community and Toyota Princeton. Bouncy houses, face painting, temporary expansions

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of Toyota exhibits and ‘round the clock tours are aspects that could be included in this fun day for the community.

Attending career days at local colleges and high schools is also a great way to spread the Toyota name. If the problem is that most people don’t know that the Toyota facility is so close and open for public tours, then target their children. Let the upcoming generations realize desires of working for your company or, at the very least, take a tour of it. Getting children and adolescents from local schools to tour the center is a great place to start. This way, it is something they can look forward to and be integrated with actual lessons.

This type of activity could be aimed at Boy Scouts and Girl Scouts, for example.

Each of these groups has certain badges that they need to earn in order to achieve a particular status. The Toyota Indiana Visitor’s Center could teach them about many things including, but not limited to teamwork, technology, economy, environmentally friendliness, and business.

Having a streamlined ad campaign that runs across all media would be a good place to start that would encourage cohesiveness of the brand and its message. As an example, attached are two examples of potential advertisements.

In our research, we found little to no usage of social media. To really engage with almost any audience, it would be very beneficial to start using this medium. Almost all millenials are on social media, as well as many generations before and behind them. Twitter, Facebook, and Instagram are the three most popular social media sites. Posting current updates of new exhibits or pictures of the manufacturing process would be sure to engage these audiences.

On Twitter, hashtags are always popular. Including a hashtag such as #ToyotaVisit in tweets will increase views and interactivity amongst the community.

Currently, the visitor’s center concentrates on the same exhibits year-round.

While there might not be much changing within the center, it is important to remember that audiences will most likely not want to see the same thing more than once. For example, there could be seasonal exhibits such as one where road safety in winter conditions is emphasized.

Including interactive exhibits targeted at specific age groups would benefit the Toyota Indiana Visitor’s Center tremendously. Activities such as mock test drives for an older teenage audience would be incredibly appealing to those in that audience. Another option is to incorporate some type of exhibit that would get a younger audience involved.

All of these suggestions are aimed to engage an entire range of target audiences.

Evaluation and Measurement of Success First of all, a pretest should take place. We have to know the current number of visitors and level of community interaction before we can accurately evaluate our campaign strategies and tactics.

To measure the success of the tactics in this campaign, the one thing to evaluate is the number of visitors the Toyota Visitor’s Center is bringing in. These numbers will include new visitors and returning ones. The return rate by itself should also be analyzed, as this will evaluate the tactic of the ever-changing exhibits in the visitor’s center and how it affected visitors who have previously toured the center.

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Next, an evaluation of the advertising campaign should take place. Number of views on social media, radio ad runs, prints in the newspaper, and estimation of views from the billboards. Most of these numbers will be easy to record and track, so analysts can compare these numbers with potential surveys given to visitors asking how they heard about the visitor’s center.

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References 2013 - 2014 Voluntary Recalls | Toyota. (2014, August). Retrieved from http://toyotanews.pressroom.toyota.com/section_display.cfm?section_id=639 ABC News Network. (2014, November 5). TM Competitors | Toyota Motor Corporation Common Stock - Yahoo! Finance. Retrieved from https://finance.yahoo.com/q/co?s=TM+Competitors ABC News Network. (2014, February 5). Toyota tops Consumers Reports’ 2014 carbrand perception survey - Yahoo Autos. Retrieved from https://autos.yahoo.com/news/toyota-tops-consumers-reports--2014-car-brandperception-survey-021905033.html Evansville Courier & Press., & Orr, S. (2010, February 14). Toyota opens doors to public tours [Video file]. Retrieved from http://www.courierpress.com/business/toyota-opens-doors-to-public-tours TMMI Visitor's Center. (n.d.). TMMI Visitor's Center's Facebook. Retrieved from https://www.facebook.com/tmmivc Toyota Motor Co., Ltd. (2013). Toyota's Visitor Center. Retrieved from http://www.tourtoyotaindiana.com/ Toyota Motor Co., Ltd. (n.d.). Prospectus and History | The Toyota Foundation.

Retrieved from https://www.toyotafound.or.jp/english/profile/history.html Toyota Motor Company. (n.d.). Toyota Global Site | 1937-2013. Retrieved from http://www.toyota-global.com/company/history_of_toyota.html Toyota News Room. (2010, February 10). Toyota Motor Manufacturing, Indiana Opens New Visitors Center | Toyota. Retrieved from http://toyotanews.pressroom.toyota.com/article_display.cfm?article_id=1871

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ToyotaLogo1.jpg [Logo]. (2005). Retrieved from http://www.stbernardproject.org/2013/uncategorized/sbp-is-working-to-address-theimmediate-needs-of-families-impacted-by-superstorm-sandy/

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