Company Case MKT 202 Essay

1. Microenvironmental factors involve actors, who remain close to the bon ton and they involve the companys ability to serve its customer. The company, suppliers, marketing intermediaries, customer market, competitors, and publics solely of these ar part of microenvironment. Toyota Prius insane asylum and relaunch were moved(p) by several microenvironmental factors. These factors are discussed below a. Firstly, the Toyota Company itself was a major microenvironmental factor that affected its yield at the very beginning.The marketing department of Toyota didnt do comme il faut promotional activities for its raw vehicle. In a country like U. S. where as we all know all SUVs sell likes hotcakes, no one would actually be interested to corrupt a dull intercrossed political machine. likewise the department involved in designing the product was too purposeless to attract customers at prime(prenominal). When it was launched people considered Prius to be small, cramped compac t with a very dull design. Also due to its low horsepower, the pickup epoch was very long.The car took 14. 5 seconds just to go reach a speed of 60km/hr. No matter how somewhat(prenominal) environmental friendly and dynamism saving the car was due to low promotional efforts by the company and also the dull design, the introduction of Prius was highly affected.Also, so far if the car was magna cum laude enough of a purchase because of its environment friendly quality and evoke saving, enough people didnt hear close to it. nevertheless subsequently on, Toyota did make its new version and the marketing of the product was raised as the brand image developed. b. Secondly, as we all know, the presence of a competitor can really make it hard for a company to baffle its product well. During the time Prius was being launched it had to face, Honda as its competitor. Honda successful launched its insight even before Prius came to the market.Of course non to mention, vehicles like Hummer, interbreeding were already in that respect before Prius to keep customers attention towards them. But Toyota did tell its product from its competitor on providing benefits which other competitors werent able to suffer at a cheap cost. c. Third factor was the customer themselves, who were totally inclined towards the brands which they stand been victimization all their lives like General Motors, Ford and others. So the international markets for Toyota in U. S. were pretty weak at first. But then again, as new version was developed with new flair a design and as the cars horsepower was improve it did get customers attention.2. Macroenvironmental involves larger societal forces, which includes demographic, economic, natural, technological, political, and pagan forces. in that location were several macroenvironmental factors, which played a role in affecting the introduction and relaunch of Toyota Prius. The factors are discussed below a. Firstly, demographic factors p layed a part in affecting Prius. Even though Baby Boomers and Gen X had people who were warmness aged and old and were potential customers for Prius.But the Gen Y included the new-made bunches who were more into sporty and stylish vehicle, attributes which Toyota Prius lacked. Toyota simply didnt speak Gen Yers language. But Toyota had been able to take aim with it since people from Gen Xers had environment sensible people who were a big market for Toyota. b. Secondly, cultural factors played a big role too. American culture has been prone in using 4-wheel drives and they simply didnt want a weird looking car to be a part of their lives. Also, people view of society, below cultural factor, played a part too.A patriot American would buy his countries product rather than buying products from other countries. Another factor under culture is peoples view of organization. Companies like General Motors, Ford, Audi had a stronger brand image then Toyota during that period of time. As the time went, new version came out, Toyota was able to fit in the culture and the U. S. government on introducing various incentives on hybrid vehicles also helped it. c. Thirdly, technological factor.Technology has perpetually been there making our lives a better and there has been so much competition in the market on providing superior technology that, some company have trouble to establish a image against those companies who have already established a strong position in the competition. Toyota was technologically inferior compared to its rivals like Audi, Ford, and GM. Also, Prius at its very initial stage was not the car which people took interest in driving because of its technical lacking. impoverished horsepower, high pick up time, dull design all of these affected its image. Toyota was able to deal with it on its new versions.3. Toyota market strategy was first used on people who were techies. It focused on early adopters, techies who were attracted to the modern new tec hnology. Techies were so into the Prius that they started modifying it technically and paying a great deal of attention to it. Toyota was able to differentiate its product in a focusing that no other company could with such a low cost. Thats why Prius became the best car ever used in US. later on absorbing large revenues from the techies, it used it second version to target a wider market segment. Toyota was able to serve the bigger segment which consisted of those people who were environmentally conscious and as well as those desirous of fuel efficiency.Toyota did an capacious amount of spending on media to let people know about its second version. In future Toyota can improve its strategy by introducing the hybrid feature into several models of car it has and thereby making a greater sales in return. But it shouldnt introduce the hybrid feature in all the cars, since if other competitors starts making the same considerate of car and has better brand image, then Toyota can no nightlong differentiate its product. But as demand for hybrids go up, Toyota should maintain a steady production and invest on making other new types for serving other segments and maintain a balance.