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THE TOYTOA HYBRID PRIUS

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.

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THE TOYTOA HYBRID PRIUS

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  1. THE TOYTOA HYBRID PRIUS BY mAURA, RACHEL, ADAM AND KYLE

  2. OUR PRODUCT $ 24, 200 Four model levels available 51/48 est. mpg

  3. The Macro environment • Demographics • Economic trends • Natural Environment • Social Aspects • Technology

  4. Demographics • The trend of Population Aging – due to increasing life expectancy and fertility below replacement levels • Male to female ratio 99:100 Median age by gender, Statistics Canada • Working age population in Canada is 68% of total population • Over age 80 is 4% of total population

  5. Economy • Consumers want to consume. • Economic meltdown over the last decade -Consumers buying luxury goods • Costs to the consumer

  6. Natural environment • Declining natural resources • Air pollution • Emissions

  7. Social Aspects Becoming Responsible consumers • New ways of creating renewable energy as a consumer. • Long term investments that will help you in the future.

  8. 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

  9. 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

  10. THE target market

  11. 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

  12. The total market Who are Canadian Car drivers? The Income of Canadians Number of Licensed drivers by gender and by age

  13. MARKET SEGMENTATION Different segments represent different types of buyers 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

  14. The Target Market • (2) Scarborough Research: Current trends amongst Hybrid owners • $100 000 or more • Older • Educated • Liberal • Active Where 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 • (3) Mindset Media: Psychological profile of Hybrid Drivers • Creative – inventive, imaginative, emotionally sensitive, intellectually curious • Proud advocates and leaders • Open minded, spontaneous

  15. 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

  16. The Marketing Strategy - Product • Type of good • Tangible good • Strengths • Fuel efficient • Weaknesses • Lack of power • Style

  17. The Marketing Strategy – Product Continued Brand name • Prius Brand image • High tech & Environmentally friendly Brand equity • Commonly known product vs. competitors BCG Analysis: Star Augmented product • Core product where additions products or services to generate more revenue

  18. The marketing strategy- PRICE Pricing objectives – Product Mix Prius and Prius C, Prius V, PriusPlugin • Pricing Strategy • Penetration

  19. The marketing strategy- promotion Create awareness and preference Gear promotion to the wealthy, educated and creative Information such as product, construction, features, benefits and design. Keeping target market informed Allow for test drives

  20. The marketing strategy- promotion • 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

  21. The marketing strategy- promotion • Television commercials • Bill Boards • Printed ads • Newspapers • Buzz 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

  22. The marketing strategy - place • Assembly of car in Japan • Shipped 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 sell • Use integrated logistic management (teamwork essential)

  23. Thank you Questions?

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