Toyota Prius Marketing Case Study
Case Study: Toyota Prius
University of Maryland University College
September 30, 2010
Synopsis:
As the United States unite in the global effort to monitor the use and waste of energy, fuel efficient or hybrid cars such as the Toyota Prius has dominated the market over the SUV’s who once adored every American driveway. With much doubt, in 2004, the Prius has become the leading selling vehicle in America. The sleek design has caught the eye and pockets of many Americans who prefer the “gas sipper” over the “gas guzzler.” (Kotler & Armstrong, Principles of Marketing, 2010)
In addition to the declined trips to the gas station, the Prius also offered advance technology such as the implementation of a Smart Key System, DVD navigation, Bluetooth and more. (Wikipedia, 2010) This made it a must buy for the technology savvy community who discovered ways to modify the Prius computer system, making it perform many customized features. Such unconventional features, gained the approval of the underground market so to speak. Not to mention the incentive of driving in the High Occupancy Vehicle (HOV) lane even with one occupant. Tax breaks issued by the federal government in addition to free parking were just a few of the perks that came along with owning a hybrid. (Kotler & Armstrong, Principles of Marketing, 2010)
According to Toyotas website, they report a decline in sales July and August in comparison to the same time last year. “Toyota Motor Sales (TMS), U.S.A., Inc., today reported July sales of 169.224 units, a decrease of 6.8 percent from the same period last year, on a daily selling rate (DSR) basis.” In August, Toyota sales were at the peak in 2009 when Cash for Clunkers were going on, but last months’ sales declined 31.4 percent on a DSR.
The Toyota Prius has a new competitor on the market, the Honda Civic Hybrid and the Ford Fusion Hybrid. With these new products, and the idea that most automobile companies are progressing towards the hybrid
University of Maryland University College
September 30, 2010
Synopsis:
As the United States unite in the global effort to monitor the use and waste of energy, fuel efficient or hybrid cars such as the Toyota Prius has dominated the market over the SUV’s who once adored every American driveway. With much doubt, in 2004, the Prius has become the leading selling vehicle in America. The sleek design has caught the eye and pockets of many Americans who prefer the “gas sipper” over the “gas guzzler.” (Kotler & Armstrong, Principles of Marketing, 2010)
In addition to the declined trips to the gas station, the Prius also offered advance technology such as the implementation of a Smart Key System, DVD navigation, Bluetooth and more. (Wikipedia, 2010) This made it a must buy for the technology savvy community who discovered ways to modify the Prius computer system, making it perform many customized features. Such unconventional features, gained the approval of the underground market so to speak. Not to mention the incentive of driving in the High Occupancy Vehicle (HOV) lane even with one occupant. Tax breaks issued by the federal government in addition to free parking were just a few of the perks that came along with owning a hybrid. (Kotler & Armstrong, Principles of Marketing, 2010)
According to Toyotas website, they report a decline in sales July and August in comparison to the same time last year. “Toyota Motor Sales (TMS), U.S.A., Inc., today reported July sales of 169.224 units, a decrease of 6.8 percent from the same period last year, on a daily selling rate (DSR) basis.” In August, Toyota sales were at the peak in 2009 when Cash for Clunkers were going on, but last months’ sales declined 31.4 percent on a DSR.
The Toyota Prius has a new competitor on the market, the Honda Civic Hybrid and the Ford Fusion Hybrid. With these new products, and the idea that most automobile companies are progressing towards the hybrid
References: Hal S. Knowles, I. (2008, April 6). Realizing residential building greenhouse gas emissions reductions: The case for a Web-based geospatial building performance and social marketing tool. Retrieved September 30, 2010, from US Environmental Protection Agency: http://www.epa.gov/ttnchie1/conference/ei17/session5/knowles.pdf Kotler, P., & Armstrong, G. (2010). Principles of Marketing. New Jersey: Prentice Hall. Toyota. (2010, August 26). Toyota Announces Voluntary Safety Recall on Certain Toyota Corolla and Corolla Matrix Models. Retrieved September 26, 26, from http://pressroom.toyota.com/pr/tms/toyota/toyota-consumer-safety-advisory-102572.aspx?ncid=12067 Toyota. (2010, August 26). Toyota Vehicles: Third Generation Toyota Prius is World 's Best Selling Hybrid. Retrieved September 26, 2010, from http://pressroom.toyota.com/pr/tms/toyota/category-home.aspx?ncid=12067 Wikipedia. (2010, September 30). Toyota Prius: Wikipedia. Retrieved September 26, 2010, from http://en.wikipedia.org/wiki/Toyota_Prius -------------------------------------------- [ 1 ]. Toyota Prius - wikipedia