the toytoa hybrid prius
DESCRIPTION
THE TOYTOA HYBRID PRIUS. BY mAURA , RACHEL, ADAM AND KYLE . OUR PRODUCT. $ 24, 200 Four model levels available 51/48 est. mpg. The Macro environment. Demographics Economic trends Natural Environment Social Aspects Technology. Demographics. - PowerPoint PPT PresentationTRANSCRIPT
THE TO
YTOA HYB
RID PRIUS
B Y MA U R A , R
A C H E L , AD A M A
N D KY L E
OUR PRODUCT
$ 24, 200Four model levels
available 51/48 est. mpg
THE MACRO ENVIRONMENT
• Demographics• Economic trends• Natural Environment• Social Aspects• Technology
DEMOGRAPHICS
• The trend of Population Aging – due to increasing life expectancy and fertility below replacement levels
• Male to female ratio 99:100
• Working age population in Canada is 68% of total population
• Over age 80 is 4% of total population
Median age by gender, Statistics Canada
ECONOMY• Consumers want to consume.• Economic meltdown over the last
decade-Consumers buying luxury goods
• Costs to the consumer
NATURAL ENVIRONMENT
• Declining natural resources• Air pollution• Emissions
SOCIAL ASPECTS
• New ways of creating renewable energy as a consumer.
• Long term investments that will help you in the future.
Becoming Responsible consumers
TECHNOLOGY• Marketing of products online
-Consumers are able to shop from home
• Cutting down on search costs• Helping the environment
• The information age & technological revolution
ANTICIPATED MACRO-ENVIRONMENTAL CHANGES
Technology: Nissan, competing with our direct competitors. Natural environment: further depletion of natural resources
Demographics: growing disposable income of women
Social: Social pressure and desire to be a responsible consumer will continue to grow
THE TARGET MARKET
Strategic Planning Total Market
Market Segmentatio
nTarget Market
THE STRATEGIC PLAN
• A long run plan, revealing company objectives
• Survival and growth• Key for all subsequent market
planning
The goal: To create value for customers and build profitable customer relationships
THE TOTAL MARKET Who are Canadian Car drivers?
Number of Licensed drivers by gender and by age
The Income of Canadians
MARKET SEGMENTATION Different segments represent different types
of buyers
Different products presented through different marketing
programs
Needs
Characteristics
behaviors
The goal: To locate the segment of the market that will respond the same to marketing efforts, and have a distinct desire to own a Toyota Prius
THE TARGET MARKETWhere Toyota
can generate the most customer
value and sustain it over a long period of
time (1) Harris Interactive Study: Familiarity, and the likelihood of purchase• 23% familiar• 27% consideration• 84% plugging in vs. fueling up
(2) Scarborough Research: Current trends amongst Hybrid owners• $100 000 or more• Older• Educated• Liberal• Active
(3) Mindset Media: Psychological profile of Hybrid Drivers• Creative – inventive,
imaginative, emotionally sensitive, intellectually curious
• Proud advocates and leaders• Open minded, spontaneous
TARGET MARKET
For the sale of the 2014 Prius, Toyota has chosen to target Wealthy, Educated and
Creative people
Note: Toyota will be careful to avoid the green marketing myopia – the myopic focus on the
products ‘greenness’ over broader expectations of consumers
THE MARKETING STRATEGY - PRODUCT
• Type of good• Tangible good
• Strengths • Fuel efficient
• Weaknesses • Lack of power• Style
THE MARKETING STRATEGY – PRODUCT CONTINUED
Brand name Prius Brand image High tech & Environmentally
friendly Brand equity Commonly known product vs.
competitors
Augmented product Core product where additions products or services to
generate more revenue
BCG Analysis: Star
THE MARKETING STRATEGY- PRICEPricing
objectives – Product Mix
• Prius and Prius C, Prius V, Prius Plugin
Pricing Strategy• PenetrationPrius
Prius C
Prius V
Prius Plugi
n
THE MARKETING STRATEGY- PROMOTION
• C R E AT E AWA R E N E S S A N D P R E F E R E N C E
• G E A R P R O M O T I O N T O T H E W E A LT H Y , E D U C AT E D A N D C R E AT I V E
• I N F O R M AT I O N S U C H A S P R O D U C T , C O N S T R U C T I O N , F E AT U R E S , B E N E F I T S A N D D E S I G N .
• K E E P I N G TA R G E T M A R K E T I N F O R M E D
• A L LO W F O R T E S T D R I V E S
• Incentives: Company –0% financing for 2014 models, buy back
on older models.• Older models: $1500 cash bonus and between 2.99% and
5.99% finance rate depending on hybrid model
• Government - $1000 tax credit
THE MARKETING STRATEGY- PROMOTION
THE MARKETING STRATEGY- PROMOTIONTelevision commercialsBill BoardsPrinted adsNewspapersBuzz market – New features/benefits via social
media
Focus on the pull strategy (high advertising which will create demand for the hybrid car)
Promotional budget – objective and task method-Benefits for consumer/environment
THE MARKETING STRATEGY - PLACEAssembly of car in JapanShipped to British Columbia and transported to 5
warehouses throughout Canada.Vancouver, Winnipeg, Toronto, Montreal, Moncton.Car dealerships purchase cars from warehouses in
designated area.Computer systems monitor inventories, estimates
of cars predicted to sellUse integrated logistic management (teamwork
essential)
THANK YOU
Questions?