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Essay example - Toyota Prius: Green or Geek Machine?
Pages 4 (1004 words)
Toyota Prius: green or geek machine? Table of Content Answer1 3 Answer2 4 Answer3 5 Reference 7 Bibliography 8 Answer1 Microenvironment factors with respect to Toyota are research and development of the company itself, suppliers, marketing intermediaries, customers, competitors, and also the public…
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So, the company would think that this behaviour of the target customers may affect the company’s decision making for investing in this vehicle or not. Apart from the consumer preferences, another important factor is that the supplier of resources for manufacturing this hybrid car is more expensive. The company required to find out those suppliers who have enough time to build the hi-tech equipments, expertise and valuable resources for manufacturing of Prius. Demand of the new product among the target customers is also one of the most important factors as lack of demand would result inadequate return from the investment to this project. Toyota dealt with these micro environmental factors to make it hottest car in the market. The company started selling huge number of this hybrid model as price of gas increased at that time. This also helped the company to achieve higher economies of scale with the increasing of sales volume. Toyota spent €15 million for effective advertisement of the Prius. They have developed one blog site named as Priusenvy.com for this new hybrid car where many Prius owners and many potential buyers share their experience and queries. Apart from internet based marketing, there were print ads in magazines, newspapers, television ads. ...
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