Toyota Prius Case Study Principles Of Marketing

Toyota Prius Case Study Principles Of Marketing-7
On the other hand, infrequent sales promotion is used through special deals.Also, the company sometimes uses direct selling for corporate clients.Toyota could make a difference with all hybrid vehicles, but until costs are down and more options available, I think they need to go along with what people want.

Toyota uses the following promotion activities, arranged according to significance: Toyota uses personal selling through dealerships’ sales personnel, who personally promote products to potential buyers.

The company also uses advertising on various media, such as TV, newspapers, and websites.

This element of the marketing mix determines the venues where customers can access the firm’s products.

The following are the main places in Toyota’s distribution strategy: Toyota dealerships are where most sales transactions occur.

Toyota automobiles are the most popular in this product mix.

Lexus automobiles are luxury products from the company.Marketing consisted of advertisements, promotions, vehicle incentives, sponsorships, press releases and Toyota’s reputation to draw in consumers.As competition arose, Toyota looked to market what consumers wanted, bigger, more powerful and better designed vehicles (p. Toyota began introduction to their second generation Prius, marketing what suited their consumer’s needs. I think that on the “greener” side of things, it would make since to lean towards conversion of all Toyota models to hybrids, but I think that would come at a great cost to Toyota.As for me, I’ve always been a huge Toyota fan, but I’m still not ready to invest in their hybrids or any other brand of hybrids. Toyota’s marketing mix involves a diverse set of strategies for its product lineup, place and distribution, and promotion. (Photo: Public Domain) Toyota Motor Corporation’s marketing mix (4Ps) reflects the firm’s strategies for interacting with its target market. I find that the Toyota Prius is in the Maturity stage of the product life cycle due to the massive competition arising from other manufactures such as Ford, GM and Honda. Toyota’s marketing strategy centers around consumers and their needs.Due to this, Toyota is only receiving modest profit from the sales of the vehicle (Perreault, Cannon, Mc Carthy, 2006, p. The Prius quickly went through the stage of introduction and growth since it’s introduction in the US market in 2000 (p. Because of this, the Prius is beginning to move into the final stage of decline since they have to now compete by introducing newer and better models of the Prius (p. Originally, Toyota marketed Prius as an alternative to fuel only vehicles taking the earth friendly approach.People are still buying all gasoline powered vehicles even with the option of hybrids available. They want either want a gasoline powered vehicle or they’re willing to hold out until those are extinct and their only option is an alternative vehicle. With the high price tag and limited available options, people want the best value.That right now is gasoline vehicles with lots and lots of options, not expensive hybrids with even more expensive options. Jerome Mc Carthy, Basic Marketing: A Marketing Strategy Planning Approach, (17th Edition), Irwin Mc Graw-Hill, 2006.This part of Toyota’s marketing mix indicates that the company has a comprehensive strategy for promoting its business and products.Toyota’s prices vary widely, depending on the product line and the product type or model.

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