3. Evaluate Toyota’s marketing strategy for the Prius. What has Toyota done well?

How might it
improve its strategy?

There are four Marketing strategy for the Prius. First, the marketing strategy used is the product.
The product that were launched is Toyota Prius which is it has an attractive features as compared
to the previous version which the outer appearance as well as the inner characteristic. Secondly,
the price. Toyota Prius has a dealers obtained price premium of up to 5,000 Dollar over the
stickers price for the Prius also the price maintained was competitive and helped the company to
maintain an edge over as well as return its customer profitably. Thirdly, the Marketing strategy is
the place. Prius was available easily in the showrooms as well as on the Internet. For example,
customers can open their website on Prius Envy to make well informed decision because of the
detail website also they were able to share experience through the chat room on Prius Envy.
Lastly, the promotion of the product. The company of Prius make a promotion like a campaign to
target environmentally conscious consumers and those seeking fuel efficiency, make
promotional activities through TV like Discovery Channel, magazine, billboard and newspaper.

There are some that Toyota has done well for their company and their product. For example, they
get an early entrant into the hybrid vehicles market that is easy for them to find out their
customers. In this casem Toyota will be most be an attraction to the customers and public. So it
can help them to create value based on customer’s type. Other than that, Toyota may have less
competitors. In this case, their rivals will be focusing on other types of vehicles to stay compete
with Toyota Prius.

The Toyota Prius might improve its safety by making with some innovation, renewal and
limitaions for the Prius. In term of this, others competitors will be find a new type of product that
can know customer’s taste and willing to compete with existing product.