The issue of brand localization to promote product in the automobile industry : a case study of Toyota Motor Vietnam | |
| Author | Nguyen Trung Hieu |
| Call Number | AIT RSPR no.SM-04-103 |
| Subject(s) | Business names Automobile industry and trade -- Vietnam |
| Note | A research study submitted in partial fulfillment of the requirements for the degree of Master of Business Administration, School of Management |
| Publisher | Asian Institute of Technology |
| Series Statement | Research studies project report ; no. SM-04-103 |
| Abstract | Vietnam has achieved a lot of economic progress within the last decade, in terms of GDP growths, GDP per capita, average income level... The economy is developing at a speedy rate. As a result, this economic development has created and required a highly growing demand for transportation of goods and passengers, which leads to a very potential automobile market. At present, Vietnam's automobile market is dominated by 11 multinational automakers who invest in Vietnam mainly for car assembly, and completed knock-down parts (CKD) are imported. Toyota Motor Vietnam (TMV) is obviously the market leader, keeping firmly its No. I position since 1997. However, from 2001, Toyota Vietnam has seen its market share sharply reduced from around 32% in late 1990s to fewer than 29% afterward. Competition becomes more and more severe: new competitors went into operation, bringing on redundant production capacity; customers are flooded with advertisements and promotions, PR events, etc. Toyota marketing programs are usually duplicated by competitors. Furthermore, competitors continuously launched new models to compete directly with Toyota cars, eating up some parts of the market share. In response, Toyota Vietnam implemented a comprehensive business strategy, localizing its brand as a strategic tool to catch the competition up. Therefore, Toyota can keep on its market leadership but fail to recover its previous level of market share. The research is done with two objectives. Firstly, it helps provide an insight of the Vietnam automobile industry and market. Secondly, it analyses different aspects of Toyota business strategy, focusing on how Toyota uses marketing programs as a source of localizing and leveraging its brand, so as to explain achievements of Toyota so far in Vietnam. Regarding brand localization aspects, the research finds that there are a lot of strengths that Toyota Vietnam should continue to utilize, while it remains some shmiages that require correction and adjustment. It also finds that Toyota Vietnam can use secondary sources like its employees, corporate image to convey and further strengthen its brand position. As a result, the research suggests some recommendations for Toyota so that the company can maintain and further leverage its current established brand. |
| Year | 2004 |
| Corresponding Series Added Entry | Asian Institute of Technology. Research studies project report ; no. SM-04-103 |
| Type | Research Study Project Report (RSPR) |
| School | School of Management |
| Department | Other Field of Studies (No Department) |
| Academic Program/FoS | Master of Business Administration (MBA) (Publication code=SM) |
| Chairperson(s) | Quang, Truong; |
| Examination Committee(s) | Sununta Siengthai ;Broustail, Fran9ois-Joel; |
| Scholarship Donor(s) | The French Government ;AIT Fellowship; |
| Degree | Research Studies Project Report (M. Eng.) - Asian Institute of Technology, 2004 |