ESEI Schoolhad assigned students to select a Brand that had become outdated and should bemodernised. I should require new branding activities to modernise the brand inorder for the company to manage and adapt to rapid changing market needs and technology.
Accordingly, I chose Toshiba Corporation because I believe that the company’sbrand equity is starting to fade away. Therefore, the company needs to develop newbranding strategies and innovation to maintain current customers, attract potentialcustomers, increase profit and most importantly to not fall out the market. Toshiba Corporationis a multinational company which is highly diversified in electrical productsand services. The company operates in a wide range of electronic based fields. 1-Energy and infrastructure which supplies thermal power generation and nuclearpower generation systems.
2- Community solutions such as light emittingdiode lights (LED), elevators and sewerage systems. 3- Life style productsand services which include various home appliances, lap-tops, gadgets,televisions and services such as repairs and spare parts, logistic services andpayroll systems. 4- Health care systems and services whichprovides hospital equipments such as x-ray systems. (Times, 2017) Toshiba is a Japanese brand, its headquartersis located in Shibaura, Tokyo, incorporated in 1904.
(Times, 2017) 3.0Background Toshiba Corp. is one of the well-known brands in the electronicsindustry, unfortunately the brand recently has been losing itsvalue due to the mass number of competitors entering the market, where theypenetrate with updated customer needs and innovative ideas which the customers feel of relevance to. The problem is Toshiba’s ego made the company focuses more on itsproducts and offerings rather than the needs and wants of their customers.
The selfsufficiency of the corporation recently showed the negative outcome where theystarted losing their customers due to lack of understanding of their needs. On theother hand, other companies such as Apple and Samsung came up with innovativeproducts that are friendly to their target audience which helped them toachieve a high level of customer’s satisfaction and market share. Toshiba’s known statement is “leading innovation” yet the level ofinnovation used is not remarkable. The company should make customers feel and experiencethe innovation promised, Statements cannot just be believed it has to match expectationsthrough experience of the customer or it will just be an ordinary phrase. As mentioned before Toshiba is diverse. The corporation seek togenerate in different fields which can result in increasing their revenues.
Dueto the high level of diversity Toshiba lost its focus on fast selling major productssuch as lap-tops in which the company didn’t follow up with the marketingtrends which lead other companies to tackle what is needed in the market.