...Paper Group 2 Abstract This paper will provide an in-depth analysis of the Toyota Prius from a Marketing viewpoint. The research provides background information, market analysis, branding, services/ pricing and promotional information regarding the Toyota Prius. This paper provides the decision making and analytical processes necessary to implement a successful marketing program for the Toyota Prius. Description The Toyota Prius is considered a full size hybrid electric mid-size hatchback. The Prius design offers comfortable seating for five and has impressive cargo space, something lacking with its competitors. The Prius has an estimated fuel-efficiency rating of 50 mpg, when using the U.S. EPA combined cycle. This car is on the top of the list for the most fuel efficient cars on the market. With rising gas prices, this fuel efficient car is the most popular hybrid available to consumers today. The overall design of the Prius is characterized by a streamlined nose and curved roofline. This vehicle carries an impressive base price of about $19,000.00. The Prius has several models and trim packages to choose from allowing the customer more options in the current hybrid market. They have a standard model with a hatchback, a compact version and a new station wagon called the Prius V. “According to Hybrid Car Review (2012), “Toyota’s Hybrid Synergy Drive System allows the Prius V to travel at “in town” speeds on electric power alone. Sensors decide when to employ...
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...evaluation of the marketing principles using Toyota’s case study Introduction In this essay, I will reflect on my experience within Principles of Marketing module. To illustrate this I will use feedback obtained from my tutor, the information I have learnt from undergoing my presentation and verbal feedback from other group members. I will then briefly explain what the principles of marketing are and how these principles relate to modern marketing practices. I will address both the negative and positive feedback I received and explain how I will use the feedback to improve on my strengths and mend my weakness so that I may do better in future presentations. My view on the Principles of Marketing During Principles of Marketing module, I learnt that marketing principles is mainly about finding out what the consumer wants and going the extra mile to provide this at a high standard whether it’s goods or service. I understood that there are key elements involved with marketing process; the 4P’s for goods and the 7P’s for services. The 7P’s of the marketing mix are price, place, product, promotion, people, process and physical environment. By understanding, the marketing mix a corporation will have more knowledge about how to plan, distribute and promote their products. Without these fundamental elements, it is unlikely for managers to formulate a feasible marketing plan. For a business to be successful, an appropriate composition of the marketing mix should be appropriately...
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...Analyzing the Marketing Environment Case Study Prius: Leading a Wave of Hybrids Micro-environmental Factors | Factors | How Toyota dealt with these factors | Company | Toyota first generation of Prius was small compacts car with unattractive exterior. Therefore they had to coordinate with other departments within the company such as Research and Development and marketing to introduce a new generation of Prius that could be more attractive to buyers (Gen II). | Suppliers | Following the successful launch of the Prius. It was in Toyotas best interest to coordinate with their strategic partners like suppliers to introduce a type of batteries that could be cheaper and result in lower prices, and consequently increase the demand. | Marketing Intermeddlers | Toyota was facing a shortage of the Prius which led to issues with the dealers who wanted more cars to sell. Toyota had to prepare some materials for the dealers and their sales person in order to sell the Prius, They also had to educate buyers how to drive the cars to obtain maximum fuel efficiency. | Customer | The case study shows that Toyota thoroughly studied the market for consumer and adjusted its marketing according to it. Toyota predicted that the purchasers of their cars would be techies. It was very evident that Toyota was absolutely right in its prediction. For this reason Toyota emphasized on the technology of the car and used the internet, therefore, promoting the environmental part. As for...
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...April 2003 Toyota Prius; Marketing Communications Plan Prepared by ANDiDAS.COM Contents: Executive Summary 3 Introduction 3 The Automobile Market 4 Figure 1: UK new Car Market by Volume and Value, 1997-2001 4 Figure 2: Leading Suppliers of Cars to the UK Market, 2001 5 Figure 3: Main Advertising Expenditure on Car Brands, 2001 5 Prius Target Market 6 Demographic 6 Psychographic 6 Geographic 7 Toyota 8 SWOT Analysis 8 Campaign Objectives 10 Creative Strategy 11 Communications Mix 12 Recommended Campaign 13 Media Strategy 13 Timing and Budgets 14 Figure 4: Communications Schedule Year One 15 Figure 5: Communications Schedule Year Two & Three 15 Post Campaign Testing 17 Summary 17 Appendix 18 Attitudes of Consumers Towards Green Cars (% of respondents),2002 18 Media uses Advantages and Disadvantages 19 Brad: Advertising Costings Bibliography & References 2 20 Toyota Prius •••• •••• •••• Executive Summary Full service agency “Oakly & Oakley” has been asked to prepare a three-year communications plan for the Toyota Prius, which is to be launched in the UK. Market analysis identified the target market, which consists of two groups: private and corporate buyers. Next to the demographic profile, three different psychographic profiles amongst the private buyer and their media usage have been identified. Consequently...
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...Toyota Case Toyota Motor Corp. (TMC) Should the new Toyota president accelerate the launch scheduled for the Toyota Prius? The plan to introduce the car “at the end of 1998 with expected production of 1000 units per month…” (Reinhardt, Yao & Egawa, 2006) is an extremely aggressive and ambitious goal; but, is it in TMC’s best interest to speed up the planned launch? There is no doubt that the new president (Hiroshi Okuda) is under extreme pressure to compete in a global market, he believes the company should radically alter its image to attract new customers and gain a competitive advantage while systematically facilitating environmentally-socially responsible practices. It may very well be that TMC should push for a faster launch; but, there are a few things we must take into consideration before we encourage our Toyota team to make any hasty changes. The auto mobile industry faces many challenges (as most industries do) however; this industry is unique in its own way. The industries high barriers to entry, high capital cost, and unique manufacturing facilities make managerial mistakes extremely costly (complete failure is not easily corrected, much less when you change the economies of scale platform). Before making any drastic changes to the manufacturing process, TMC must first analyze its: competition, market, government regulations, facility capabilities, management practices and overall responsibilities (responsibilities include anything from: reaching Goals...
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...Company Case: Prius: Leading a Wave of Hybrids 1. What micro-environmental factors affected both the first generation and second generation models of Toyota Prius? How well has to Toyota dealt with these factors? In order for the reader to have an understanding of this question is important to begin by defining Micro-environment. This term is a factor of the Marketing Environment and it consists of the issues that, in one way or another, affect the company's ability to serve its clientele in a close and direct way. This includes factors such as customers, suppliers, competitors, shareholders, employees and media (among others). Having this in mind, it could be safe to state that the micro-environmental factors affecting the first and second generation of the Toyota Prius are the customers and the competitors. Consumers, getting affected by the gas prices, were looking for an answer to their prayers. Toyota gave them the answer, a vehicle that would allow people to save on gas as well as provide good and efficient service. Once the first generation Prius was released, although not too pretty or fancy, it served to its purposed and customers were buying it. The other factor, competitors, is pretty obvious. Everybody wants a piece of the pie. Auto makers such as Honda started developing and/or implementing the hybrid system on some of their vehicles. Toyota's answer was to keep developing what already has been a success, the Prius. A second generation was developed and...
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...Team B Assesses Public Relations for Toyota SUA Recalls MKT/578 University Of Phoenix Team B Assesses Public Relations for Toyota SUA Recalls In August of 2009, an off duty California Highway Patrol officer and three family members died when their Lexus crashed after the accelerator pedal stuck. The car was traveling at a high rate of speed and could not be stopped according to a panicked call from the driver (MacKenzie and Evans, 2010). This tragedy kicked off a crisis for Toyota as it had to deal with accusations that a faulty accelerator pedal is what caused the crash. The company faced negative publicity from the media, the public and the NHTSA (National Highway Transportation Safety Administration) as a result of this accident and other accidents involving sudden unattended acceleration (SUA) from a stuck accelerator pedal. In response to these incidents and the publicity, Toyota eventually recalled 7.5 million vehicles to fix the stuck accelerator problem and shut down production of its effected vehicles until the problem could be solved. In this paper, Learning Team B has evaluated the role public relations played in this case and how the company could better prepare for a similar crisis. Problem Toyota realized it had a public opinion problem after numerous reports of “runaway” cars were claimed to have been caused by an accelerator pedal that would remain pressed down after the driver released the pedal. This resulted in the California accident...
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...What micro environmental factors affected both the first generation and second generation models of the Toyota Pries? How well has Toyota dealt with these factors? The Company: The Company has expended plenty of money on R&D and marketing of the Pries. Why? Toyota expects the Prius to set the standard for the entry of a line of hybrids from mini compacts to luxury vehicles. Thus, the car is an important component of company strategy. To successfully introduce the Prius and build this new line of vehicles will require coordination within the company. The second generation of Prius has already caused problems within the company. Production was increased at one plant necessitating a cut in production for other lines. Suppliers: With the successful introduction of the Prius, companies such as Panasonic may invest more in R&D to develop cheaper batteries. If they can do so, this will result in lower prices that, in turn, may further stimulate demand. Thus, it is to Toyota's advantage to work with suppliers to encourage this R&D. Marketing Intermediaries: The most important marketing intermediaries here would be dealers. Toyota had to prepare materials for dealers and their salespeople so that they could sell the Prius. Now, they have to "teach" purchasers how to drive the cars to get maximum fuel efficiency. A shortage of cars for the second generation of Prius is causing problems with dealers who want more and could sell the additional cars. In turn, dealers marking...
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...Toyota Motor Corp: Launching Prius Vardhan Kamat Executive Summary: Toyota Motor Corporation (Toyota or TMC) is currently working on the first mass produced hybrid car in the world, Prius and is aiming to launch it by end of 1998. Toyota’s new President Hiroshi Okuda wants to advance the launch to 1997 to ensure they are the first to market. Toyota needs to choose between the following choices: (i) Target an aggressive global launch in 1997 (ii) Launch in end 1998 as per the original plan (iii) Target a smooth launch in 1998 allowing for any unforeseen delay till 1999. I recommend that Toyota Motor Corporation (Toyota or TMC) target a smooth launch for end 1998 and allow for any unforeseen delay to push the launch till 1999. Analysis: Traditionally, the market has been dominated by gasoline and diesel powertrains. Electric and fuel cell powertrains have not broken through as mass-consumer vehicles. With the hybrid technology, Toyota hopes to combine the traditional gasoline/diesel power source with electric source to combine the best of both. The modern hybrid car is estimated to cost nearly 20% more than a regular car. If we consider a 100% increase in the fuel efficiency, the buy advantage is $400 (see Exhibit A. Therefore we can see that the buy advantage is not primarily in the cost (value) proposition of the car. The current buyer of this car would be someone who (i) puts a high value for the environment, (ii) is willing to pay a premium over conventional cars in the...
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...Toyota Hybrid Cars and Legal Issues Introduction Automobile industry is a faster growing industry nowadays than any other industry. Most car manufacturers face the challenge of providing the best quality products to remain competitive to retain or regain market share during this tough economic times. Every organization has the opportunity to make more profit than their competitors do by improving delivery method and its impact on the company’s turnover. Toyota Corporation has implemented different plans and techniques to remain competitive and make profit. One of the innovative plans Toyota Corp. created is the Prius. The Prius brought about a major revolution in car manufacturing industry, and opened a place in the market for hybrid vehicles. Although Toyota experiences worldwide successes, they are constantly under the watch full eyes of the general public and the government because of the many serious allegations and lawsuits brought against the Company. This paper will examine the first mover advantage of Toyota got by launching Prius. The initiatives undertaken by Toyota to bring their environmental friendly hybrid into the market will be discussed. Additionally, we will point out the many legal issues Toyota currently facing in the marketing environment. These issues will be analyzed and discussed in further detail such as: (1) intellectual property protection; (2) the legal and business concepts of ethics; (3) and the product liabilities and warranties...
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...IC-TMT20121 PESTLE Analysis on Toyota Prius Abstract Toyota Prius Hybrid is using the Hybrid Synergy Drive (HSD) that perfectly optimizes power from both petrol engine and electric motor according to the driving condition. The electric vehicle (EV) which allows the vehicle run purely for low noise and zero fuel consumption [1]. The objective of our research paper is to investigate the factors that move Toyota Prius into production. The research is based on the PESTLE analysis (which is based on various factors like P-political, E-economy, S-social, T-technology, L-legal and E-environment) by using secondary data and qualitative analysis. In annuals ales worldwide since 1997 until 2011, Toyota Priusis performed well and popular in global market. Based on the analysis, Toyota Prius did move into hybrid vehicle production which influenced by the factors that mentioned above (PESTLE). Keyword: PESTLE, Toyota Prius. 1.0 Introduction Toyota Prius is a compact sedan which manufactured and developed by Toyota. Prius was named with meanings “ahead or leading” and “the predecessor of cars to come”. The first generation of Prius experienced great sales in US with 32% grow from2001 to 2003. It became the world first mass-produced gasoline electric hybrid car with aimed to reducing air pollution and increasing fuel efficiency. The second generation was redesigned as a mid-size lift back, with the redistributed on interior design and mechanical space significantly increasing luggage...
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...Toyota Hybrid cars. Toyota Motor Corporation is a famous Japanese multinational corporation, and is considered the world’s second largest automaker of automobiles, trucks, buses, robots, and providing financial services. When Toyota and other Japanese carmakers entered the American market, they were not considered as a threat to the American auto industry because it was believed their cars had no appeal to American consumers However, in the 1970s, due to several problems like environmental regulations, and quality control issues with American cars, a good number of American car owners began searching for alternatives to poorly made American cars. In response to these changes, Toyota and other Japanese carmakers aggressively marketed their cars to Americans as being fuel-efficient, environmentally friendly, and having better build quality than American cars. In addition, Toyota marketed their cars with commercials involving young Toyota drivers jumping in the air. As a result, the Japanese’s marketing campaign along with continuing problems from the Big Three auto manufacturers, allowed import cars to make up about 20 percent of the US car market by 1980. Stage1 General Motors, Ford and Daimler-Chrysler focused in the late 1990s on mergers and acquisitions for improving their business positions to meet future challenges. Toyota, meanwhile, centered its business strategy on technological innovation and persistent environmental product development. The price of oil was not...
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...Macro-environment 10-12 2.4 Organizations within the industry 12-16 2.5 Strengths and weaknesses of Mercedes Benz 17 2.6 References 18 3.0 Brand #2 Toyota 3.1 Introduction to Toyota 19-20 3.2 Toyota History and Development 20-23 3.3 The Macro-environment 24-29 3.4 Organizations within the industry 30-31 3.5 Strengths and weaknesses of Toyota 32 3.6 References 33 4.0 Comparison between brand #1 and brand #2 34-35 1.3 Acknowledgements This assignment has been done for our subject Fundamentals of Marketing (BM101), at UCSI University. At this time we would like to acknowledge the advice and support of our lecturer Ms. Nazliwati Mohammad. We also acknowledge that some of the material for this assignment has been derived from other sources, all of which are included in our respective references. All group members have worked effectively and cohesively in this project and share equal contribution. 1.4 Summary/Abstract In this assignment we will be analysing two different car manufacturers. The brands we have chosen are Mercedes Benz and Toyota. In this report we will be presenting the brands’ history and development, the macro environment affecting them, and their organizations within industry inclusive of the marketing position, target markets and the marketing mix. At the end of the report a comparison is given between the two brands. Mercedes-Benz is one of the world’s oldest automotive brand still in existence today...
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...experience and why it is that both parents and children are drawn to this concept. Personalization, and not just customization, is the driving force. The case also highlights how founder Maxine Clark stays in touch with the customer and the employees. For Clark, management-by-walking-around is more than just a way to supervise operations. It is a way of conducting her own market research. Clark has also embraced the networking capabilities of the Internet as a way of keeping in touch with the customer. Future prospects for Build-A-Bear’s continued success are also discussed. Teaching Objectives The teaching objectives for this case are to: Introduce students to the concept of customer value creation and its central role in marketing. Allow students to analyze Build-A-Bear’s product offering in depth. Introduce the concepts involved in customer relationship management. Introduce the concepts of customer lifetime value and customer equity. Allow students to develop specific recommendations for Build-A-Bear’s future. Discussion Questions Give examples of needs, wants, and demands that Build-A-Bear customers demonstrate, differentiating each of these three concepts. What are the implications of each on Build-A-Bear’s actions? The purpose of this question is to force students to consider whether or not it is important for a company to differentiate between needs, wants, and demands. By the textbook definition, Build-A-Bear customer needs might include: ...
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...important guidelines on this analysis preparation helped us a lot in preparing this report. Her valuable instructions, constant inspiration, enormous patience and affectionate guidance contributed a lot to our academic experience throughout the course work. Finally, we would like to offer our thanks to our group members for providing various facilities, help and the moral support to accomplish the work properly. Letter of Transmittal 7th August, 2014 Kashfia Ahmed Department of Business Administration East West University Subject: Submission of a Term paper on the STP and Marketing mix of Toyota Honorable instructor, We would like to draw your kind attention to the fact, that it is a great pleasure for us to submit this assignment about ‘Term paper on the STP and Marketing mix of Toyota ’. Six of us have worked together on this paper and tried our best to make this term paper up to the ideal standard. We have enjoyed at every instant of doing this assignment. However, if some of the aspects are unintentionally disregarded, we hope that you would ignore discrepancies considering our limitations. It would be very kind of you if you can give us further suggestions for the future prospects of our assignment. We state that, this term paper has not been submitted or used for any other degree or course. It will be a great honor for us if you require us to explain any sort of queries. Sincerely yours, Group name- The Eccentric ...
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