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 …show more content…
New technologies are hitting society constantly. Technology offers the opportunity for enhancement of current products as well as new ones. Toyota, using technology, made customers aware of upcoming vehicle. Utilizing tools such as the Internet it distributes brochures and all types of information about the Prius previous to its release.
What would a society be without the government and its laws? This force is, with no doubt, connected to the economic one. Toyota, along and other auto makers were able to obtain tax and other incentives for people who would buy the hybrid vehicles. If other forces didn’t cause any interest, this one definitely would. So, now you can save on gas and can also save on taxes. Also, in some cases, you were allowed to drive on the HOV lines even if only one person was driving. Isn’t the government a good thing?
This force along with demographics would set a base for what customers are interested in. Toyota’s strategy hit society in what could probably be the best time. Gas prices are high and people drive vehicles that are not economical. Society is in the need of change and Toyota was offering a solution.
3. Evaluate Toyota’s marketing strategy so far. What has Toyota done well? How might it improve its strategy?
In my opinion, and based on the case, Toyota brought a new product with a fairly strong marketing strategy. The only problem