It is worth noted that, the evaluation by Interbrand focused on three area which is on-going brand management, strategy/ business case development and Financial position. On brand management application, the brand strength is a key diagnostic tool to measure brand performance and understanding behind a brand’s strengths and weaknesses, both internally and externally. The business case development valuation model also provides a framework within which one-off business case modelling can be conducted to evaluate brand strategy options, such as positioning, and lastly, the company financial position reflects the ability of the business to enter new markets and extend into adjacent categories.
In this case, Toyota remain the most valuable automotive brand for the 11th straight year. Traditionally, Toyota are perceived as a solid, trustworthy brand that is perhaps better known for its high-quality products. Shopper will consider Toyota car as reliable and affordable. At the other hand, Honda is also perceived as reliable and affordable. The big different between Toyota and Honda is Toyota focused on broad appeals while Honda focused on maintaining an edge in term of sporty styling and performance. In the context of Japanese car manufacturer, Toyota is clearly market leader, while Honda is market challenger.
In term of brand positioning and product positioning, Toyota and Honda are arch-rival competitor. Generally, both company produced wide range of car for every market segment and compete for the same target market which is market segment from low middle-income level to high income level. In term of positioning strategy, In year 2013, The Toyota brand is changing its U.S. advertising tagline to “Let’s Go Places,” replacing “Moving Forward,”. The new tagline reflects the company’s commitment to more exciting products, and a promise to invite customers to take part in shaping Toyota’s future. “It is energetic, aspirational, inclusive and very versatile. “The phrase conveys a dual meaning of physically going places and taking off on an adventure, while also expressing optimism and the promise of exciting innovation that enriches people’s lives.”
While in the same year Honda also introducing a new tagline in the United States that urges consumers to “Start something special.” the new tagline is intended to build deeper relationships between consumers and the Honda brand.