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Marketing Management - Case Study Example
Author : forrest65
Pages 16 (4016 words)
The Ford Mondeo and the Toyota Prius are both well know cars but the technology they offer are different from each other. While Toyota Pius is a hybrid car using a petrol engine along with an electronic motor, the Modeo still runs on petrol and diesel. But the changing environmental and economic scenario is creating newer realities for global auto companies and it is to be seen whether the value propositions of these two products remain the same or there is a change in it in tandem with the changing realities of today's age.
The 4Ps stood for product, price, place and promotion. The 'product' signifies the product which the business deals in or sells. Price is the monetary value which the consumer pays whereas the place is the location from which the consumer buys the particular product. Promotion literally stands for the marketing activities used in selling the product. Any business can do permutations and combinations with the 4PS in accordance with their objectives, both long term and short term. This concept looks from a seller's perspective (King K., 2002).
PESTLE- The PESTLE analysis looks at the different environmental factors which impacts a company or an organisation. The factors that are considered are political, economic, social, technological, legal and environmental. A proper analysis of these factors helps one understand and to form a perspective of the environmental factors which could have a bearing on the functioning and operations of a company (Elearn Limited, 2005).
The Toyota Prius engine is a hybrid between petrol and electric and the technology is called Hybrid Syn ...