Prius: Leading a Wave of Hybirds

PRIUS: LEADING A WAVE OF HYBRIDS

The four actors in the microenvironment for the Toyota Prius are:

The Company has spent a lot of time and money on research and development of a battery/fuel model car that can meet all the customers' needs as well as the environment. The advertising strategy has generated interest to all the people looking to purchase their next car.

The company was waiting to see the reception their new Prius would get and to see if this was the way ahead for the company to produce more battery/fuel economy vehicles besides the Prius. The Prius was really a stepping stone for the future change in the company. Its' reception spurred new upgrades for the Prius and changed the future of Toyota's auto making.

Marketing intermediaries like the Toyota dealerships help promote and sell the Prius on its lots. The dealerships work as resellers helping the company find buyers for their Prius. The dealership provides test driving and information about the eco-friendly fuel efficient Prius. It gives the customer a chance to see and feel the effect of this model. The demand for this vehicle became so high that it causes the Toyota dealerships to have to put customers on waiting lists until the orders can be filled.

Toyota is taking an active role in the environment by cutting down on fuel consumption. This is a green view that is also in the media through advertisements in magazines and on television.

Competitors of Toyota were losing sales because they did not have effective Hybrids to offer any competition to Toyota. Even with incentives and discounts the other automotive dealerships could not capture the success of the Prius. Toyota dealers could sell the Prius at a premium. The competition now wants a piece of the pie and all the automotive brands are trying to build new hybrids and catch up to the success of the Prius. Toyota is even causing internal competition by having the new Camry a hybrid.

Customers like the techies grabbed on to the Prius and set up web pages and internet sites dedicated to modifying the computer that operates the Prius. In the Unites States they let owners of the Prius drive in the high occupancy lanes. The government gave tax breaks to customers to own a Hybrid. Even Eco-friendly companies gave employees incentives if they purchased a Hybrid.

Toyota had to get to know their customer base to see if putting a car like the Prius on the market had a chance. It had narrowed down who they would target to get the best response.

Economic Forces affect the consumers' purchasing power and spending patterns. Most Canadian families usually have two working members in their household. These families end up owning two vehicles. Toyota knows that by adding expensive touches, push button start and a monitoring system, makes it more attractive for the consumer. The adding of these things and the continuing up grades in fuel mileage drive the consumer to purchase a vehicle that will save them money at the pumps and provide a well- equipped vehicle for the whole family.

Toyota has to be concerned with the cost or raw materials, the slowdown in the world's economy and competition from rival car makers. All these things will contribute to the success of the Prius. The cost of raw materials can drive the price of the vehicle. The slowdown of the economy will have people who are out of work or cannot afford to purchase this type of vehicle. Rival auto makers will be making their own version of the Hybrids causing price competition and giving customers more selection and Toyota competition. All