Toyota Prius: Features, Marketing, and Market Impact
Toyota Prius: A New Generation of Hybrid Vehicles
Good afternoon, my name is Aday Bureau, and I will be speaking about the new Toyota Prius. Please hold all questions until the end of the presentation.
This presentation consists of six parts:
- Product Introduction
- Marketing Objectives
- Macro-Environment
- Micro-Environment
- SWOT Analysis
- Market Research
The Evolution of the Prius
When someone talks about new cars that respect the environment, the Toyota Prius often comes to mind. This Toyota model was launched nearly 10 years ago and continues to be improved. Toyota has now released three generations of the Prius.
Key Innovations and Features
This latest generation incorporates a number of changes, such as the Hybrid Synergy Drive system, which manages to recharge the battery while the car is being driven. Another innovation in the new Prius is the parking assistant system, which automatically directs the steering wheel when parking the vehicle. The driver only needs to control the speed as instructed by the parking assistant.
Advanced Driving Modes
The Prius can be driven in three distinct modes:
- EV-Drive Mode: This mode is activated automatically, allowing the vehicle to run on electricity alone. It can achieve a speed of up to 50 km/h for a distance of one to two kilometers. Once the driver exceeds 50 km/h, the vehicle automatically switches to its standard hybrid operation. This system is ideal for city driving.
- Eco Mode: This mode is designed for maximum efficiency, featuring a very smooth throttle response to save more fuel.
- Power Mode: This mode offers faster performance and increased sensitivity to the accelerator, using fuel for a more dynamic driving experience.
Upgraded Engine Specifications
Regarding its engine, the new Prius has a 1.8-liter, four-cylinder engine, an upgrade from the previous 1.5-liter version. Toyota engineers concluded that with a larger engine, the vehicle will work at lower revs, decreasing fuel consumption and increasing its range. It is a very advanced car with a lot to offer.
Marketing Strategy and Environmental Context
Core Marketing Objectives
One of the main objectives of the marketing campaign for the Toyota Prius has been to raise consumer awareness about caring for the environment, a theme clearly visible in the majority of its advertisements. In some ads, we see that their objectives are not only to champion the environment but also to showcase the Prius as a car far ahead in terms of equipment. Another objective of their campaign is not only to position the Prius but also to reposition the Toyota brand itself.
Environmental and Economic Factors
While the environment does not directly act on the Prius, it conditions its existence; in other words, the Prius might not exist if we did not have the current environmental problem. The Prius positively affects the environment by reducing pollution by 50% to 90%, depending on the driving system used.
During the recent global economic crisis, many companies, mainly SMEs, have struggled. Companies like Toyota have been able to respond to the crisis by releasing new and innovative cars. In the case of the Prius, they have achieved sales success, but perhaps if not for the economic crisis, sales would have been even greater. Part of the current demand for the Prius is due to economic stimulus packages implemented by governments worldwide to stimulate demand. A clear example of this is the exemption from registration taxes and insurance reductions for all Prius owners.
This macro-environmental factor also includes technological advances and innovation. The Prius is affected by this, as any technological innovation in its production can reduce its price.
Micro-Environment and Competitive Landscape
Key Competitors
- Honda Insight: Set to go on sale next month, its price will be approximately 2,500 euros lower. Its full characteristics are not yet known.
- Mitsubishi i-MiEV: This vehicle will go on sale in the middle of this year. Its advantages over the Prius include a larger battery and greater endurance. Being smaller and all-electric, it is perfect for city driving.
Target Audience
The marketing campaigns for the Toyota Prius are directed toward consumers who are conscious of environmental care. They have also been targeted at people looking for fuel savings.
Suppliers and Distribution
Identifying a specific number of suppliers is difficult because the materials used in the manufacturing processes of each product differ. Additionally, Toyota has not publicly disclosed the names of all its suppliers.
There are many Toyota dealerships worldwide. In Europe alone, there are approximately 2,500 establishments, with 18 of those located in the Canary Islands.
SWOT Analysis
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