Toyota Prius Essay
There is a diverse micorenviromental factors that affect the sales of a product. Namely, the suppliers , marketing intermediaries, Customers , competitors and publics. Firstly , will be the suppliers , Suppliers are the provider of the company’s resources that produce its goods. When Toyota, wanted to launch its first hybrid car in US, the company only uses its own manufacturing plant in Japan. This is because, the plant in Japan as high qualities in its deliverances of cars and follows strict rules and regulation.
The other reason the company also decided not to built a plant in US first is the fear of low demands from the consumers itself as previous studies have shown that the US consumers prefers large and fancy cars. However things change when Toyota begin to upgrade the Toyota Prius by fixing its weaknesses. More and more demands have come in as the market begin to warm up with the idea of owning a hybrid and fuel saving car. In the end , the company plans to built one of its manufacturing plants in US so as to shorten the waiting lists period ,and continue to satisfy more customers.
In this case, the marketing mangers also have to continually market the price trend of their key input. This is done by finding the right suppliers to in US to supply for the car parts while still offers quality and cost saving goods. When the Toyota Prius is manufactured in US itself, the cost will also be lower as less tax will be incurred onto it. The second factor that affects Toyota Prius will be the marketing intermediaries. Marketing intermediaries help the company to promote , sell , and distribute its products to final buyers.
Thy include resellers , physical distribution firms , marketing services agencies and financial intermediaries. When Toyota was firstly launched in the US, it has to seek out and ideal distribution firm that help the company to stock and move the car from their points of origin to US. This involves working with warehouse and transportation firms , the company must determine the best way to store and ship goods , balancing the factors such as cost, delivery, speed and safety. The marketing services agencies also have a role to play as they help promote Toyota Prius to the right markets.
This is done by the aggressive sales advertisement in aired on TV commercials or cars magazine ads. Another way to promote it is by allowing the car to be test drive in certain TV programmes which features car technicality such as Top Gear. Next will be the financial intermediaries. Toyota manage to increase its sales when certain banks and credit companies agree to offer a higher percentage of loans and lower interest charges forthose that buys a hybrid car. Not only so, Toyota PRius also has other incentives such as the benefit of parking in (High Occupnacy Vehicles) lanes and tax break of up to $3,150.
The next factor will be customers. There are 3 different types of market which Toyota has to penetrate into. The first market will be the consumer market where Toyota has to break from the consumers habitual purchasing of stockcar racing. Toyota has managed to convinced the consumer market by launching the second generation of Prius which is more sporty in outlook and has greater horse power . The business market is alos crucial as they buy goods and services for further processing or to be used in production processes.
The Toyota Prius will be more valuable and sell faster if one of its model is drove in a recent movie ride by famous artists . It can also generate more sales when Toyota emphasizes its fuel efficiencies benefits to various other company that considering of purchasing it has a company car. The last market will be the international market, which consists also the consumers, producers , resellers and governments. Toyota has to carefully study the rules and regulation of another country’s market so as not to be confronted with lawsuits cases that can costs millions and slow down sales.
Competitor also plays as one of the cause that affect the sales of Toyota Prius. Many have try to imitated the Toyota’s hybrid engine but none has been on par with it in terms of furl consumption and greater milleage. This is why Toyota Prius has manage to outsell its competitors. The next factor that Toyota has to take into consideration will be the publics such as financial publics that influence the company’s ability to obtain funds. Toyota has to find ways to collaborate with banks that offers lower loan interest. Not only so ,the company must take into consideration of the governments publics.
Managements must often consult with the company’s lawyers on issues of products safety, truth in advertising and other matters The Toyota Prius launched has follow strictly with government’s dafety guide lines. Such as the driver will be place on the left seater, car must be equipped with air bags and cannot excee a certain speed limit. Last but not least , Toyota has to take care of its internal. Publis which includes workers , mangers, volunteers and boards of directors. Toyota gives more benefits and subsidies to its staffs that owns a Toyota Prius cars.
Subject: Toyota Prius,
University/College: University of California
Type of paper: Thesis/Dissertation Chapter
Date: 15 February 2017
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