Toyota Prius Case Study
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This document discusses Toyota's marketing strategy for its Prius hybrid car in the United States. It introduces the two generations of the Prius and describes how the second generation was redesigned and offered in more colors. It then analyzes the microenvironmental factors including consumers and competitors. For macroenvironmental factors, it notes the demographic and economic forces as well as technological, political, and cultural influences. Finally, it outlines Toyota's 4P marketing strategy for the Prius, covering product, price, place, and promotion efforts. It concludes by considering how Toyota could improve its strategy and whether agreeing with a GM marketing director's view on expanding hybrid models.
Toyota Prius Case Study
- 2. What are we going to talk about? Introduction The microenvironmental factors The macroenvironmental factors Toyotas marketing strategy
- 3. What is special about the Toyota hybrid car? Combination of gas engine and electric motor Silent car A long shot at the American market Prius is a leader and the hottest car
- 4. First generation Toyota Prius Hybrid Introduced in 2001 The hottest car Ive ever seen (Toyota U.S.A President)
- 5. Second generation Toyota Prius Hybrid Introduced in 2004 Redesigned and improved Came in 7 colors, roomy interior, touch screen monitor and increased fuel efficiency
- 7. Microenvironmental factors Consumers Competitors (Ford, General Motors, Subaru, Nissan, Huyndai, Honda) Suppliers
- 9. Macroenvironmental factors Demographic forces Techies and youngsters are the major market in the United States and known for an interest in quality and willing to try the new Economic forces Oil price hike Natural forces Prius is designed to be environmental friendly for less air pollution and less need for oil exploration and gasoline production
- 10. Macroenvironmental factors Technological forces Toyota worked in technological part and aimed the car at thetechie part of the market. Political forces Tax incentive Cultural forces Americans' love of automobiles
- 12. Toyota Prius 4P PRODUCT Diversity option for the consumers It has gasoline engine Its environmental friendliness and energysaving Prius also offer various colors and several optional
- 13. Toyota Prius 4P PRICE Prius costs about $3000
- 14. Toyota Prius 4P PLACE Available easily in the showrooms as well as on the Internet Chat rooms such as priusenvy.com
- 15. Toyota Prius 4P PROMOTION Toyota has asked for tax incentives to stimulate purchase Prius By educating consumer about the Prius Spent more that 40$ million spread over media
- 16. How might Toyota improve its strategy? Continue to improve fuel efficiency and maintain a leading position in technology industry Expand into the new markets
- 17. Would you agree with Mr. Stewart? 束If you want to get a lot of hybrids on the road, you put them in vehicles that people are buying now損 Ken Stewart, GMs marketing director YES