Toyota Prius

3358 WordsMay 25, 200914 Pages
Executive Summary: This is an analytical and comprehensive approach for preparing marketing plan for Toyota Prius, the hybrid car, consists of formulating strategies and implementing them, with suggestions for recommended changes and implementing the plan. Toyota is well known for its innovative and excellent quality cars all over the world. Toyota has started the hybrid project in about 1991 and launched its first concept in 1997. It is Toyota that made this revolution of hybrid cars a success story. The Global, 21st century known as G-21 team worked on the Prius. It aims in focussing the target market in Australia, in main cities like Sydney, Melbourne, Adelaide, Perth, Canberra, Brisbane, etc. the main focus is on the two kinds of…show more content…
There is direct network between manufacturer of components and Toyota, so that it does not have to maintain inventory. Toyota has wide network of 211 dealers in Australia. Toyota fulfils its consumers demand by its dealer network where approximately 11,300 employees serve. < >. 3.2. External Environment: The company’s macro-environment, now known as external factors are uncontrollable forces that the company must watch and also respond to (Kotler and Armstrong, 19871). Fig.1. (Source: Kotler, [2006], pg: 169) 3.2.1. Markets: “A market is the set of actual and potential buyers of a product” (Kotler and Armstrong, 2004 pg7). The potential buyers of hybrid car are from higher income group and they stay in metropolitan cities. Hybrid car market can be developed in developed countries and advanced cities. Hybrid car owners are educated and have concern towards environmental factors. Hybrid car owners are few years older than average car buyers . 3.2.2. Competitive environment: Toyota was the first develop hybrid passenger car called Prius. The biggest competitor of Toyota is Honda. Honda has its hybrid model Insight which poses competition to Prius. Recently ford has also launched hybrid version of its popular SUV Escape. Ethanol blended fuel car also pose competition to hybrid cars, as they have low emission and good mileage. Also non-hybrid cars are not much costly as

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