feedback to Toyota, the dealers help improve the product such as the Gen II Prius.4)Publics:Some external groups had an impact on Toyota’s ability to achieve its objective. For example, some US State Governments provided permits to hybrid owners to drive in the car pool lanes even if they were the only occupant. Some cities gave free parking passes. Other monetary incentives included federal government tax breaks, and eco-friendly company allowances for their employees to procure a hybrid. The publics shared a common interest with to improve the environment and by offering incentives to own a hybrid car, the promotion had a positive impact with Toyota’s success with the Prius.QUESTION 2:1)Economic Forces:There are a few factors that had an economic impact on consumers in the last several years. For example, after the tech bust in 2004, many IT professionals were laid off and left to settle for a survival income job. Other laid off professionals have pursued a second career but had had to start at an entry level with lower pay. With globalization, many industries have shut down manufacturing facilities to set up shop in other countries where the labor is cheaper. As a result, the disposable income has shifted downward and the catch phrase “Freedom 55” is more like “Freedom 70” in many cases. With the higher cost of housing, fuel, and household expenses, the average consumer has less buying power today than 5 years ago and is spending more carefully. Marketers at Toyota are well aware of the economic environment as many Americans were doing awaywith their SUV and experiencing an economic downturn. Consumers were ready for an alternative means of transportation and Toyota’s Prius delivered as a fuel efficient hybrid offering great value at a fair price. Page 3of 6
Pierre BussièreMKTG 396 - Assignment 1Student ID: 21308962)Technological Forces:Toyota used advanced technology behind the Prius to target early adopters (techies) as their strategy. The Prius had a computer system which allowed owners/hackers to re-program functionality and improve fuel efficiency. As the discoveries were shared by the owners on the Internet, the buzz of the Prius was building and sales soared. The marketing strategy was proven successful. The forces of technology
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- Spring '15
- Marketing, prius