The launch of the new Toyota Corolla
The arrival of the new Corolla
in 2002 gave Toyota the opportunity to effect an audacious transformation.
Through a big, singleminded campaign, marketing was able to overhaul a tired
brand that had become reliant on promotions and incentives.
market share and revenue per unit all rose, while tactical incentives fell
quite a shift in fortunes. But if we consider the obstacles that faced the
Corolla brand principally in people's heads the turnaround was perhaps
even greater than this suggests. In the summer of 2002, the truly unthinkable
had been achieved: the average transaction price of a Corolla was 700 more
than that of a Volkswagen Golf.