Company Case MKT 202 Essay Example for Free

Company Case MKT 202 Essay1. Microenvironmental factors involve actors, who remain close to the follow and they reach the companys ability to serve its guest. The company, suppliers, marketing intermediaries, customer market, competitors, and publics all of these are part of microenvironment. Toyota Prius knowledgeability and relaunch were affected by several microenvironmental factors. These factors are discussed on a lower floor a. Firstly, the Toyota Company itself was a major microenvironmental factor that affected its product at the very beginning.The marketing department of Toyota didnt do enough promotional activities for its tender vehicle. In a country homogeneous U. S. where as we all know all SUVs sell likes hotcakes, no one would really be interested to steal a dull hybrid car. Also the department involved in designing the product was too decrepit to attract customers at first. When it was launched pack considered Prius to be small, cramped compact with a ve ry dull design. Also due to its low horsepower, the pickup magazine was very long.The car took 14. 5 blink of an eyes just to go reach a speed of 60km/hr. No matter how much environmental friendly and energy 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, even if the car was worthy enough of a purchase because of its environment friendly quality and burn saving, enough people didnt hear about it. But later on, Toyota did make its new version and the marketing of the product was raised as the fool image developed. b. Secondly, as we all know, the presence of a competitor can really make it hard for a company to position its product well. During the quantify 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 not to mention, vehicles like Hummer, Ford were already there before Prius to keep customers attention towards them. But Toyota did differentiate its product from its competitor on providing benefits which other competitors werent capable to provide at a cheap cost. c. ternion factor was the customer themselves, who were totally inclined towards the trade names which they have been using 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 style a design and as the cars horsepower was improved it did get customers attention.2. Macroenvironmental involves larger societal forces, which includes demographic, economic, natural, technological, political, and cultural forces. There 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 played a part in affecting Prius. Even though Baby Boomers and Gen X had peo ple who were middle aged(a) and old and were potential customers for Prius.But the Gen Y included the young 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 deal with it since people from Gen Xers had environment conscious 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, under cultural factor, played a part too.A patriot American would buy his countries product rather than buying products from other countries. other 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 eternally 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. Low 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 centre on early adopters, techies who were attracted to the advanced new technology. 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 way that no other company could with such a low cost. Thats why Prius became the best car ever used in US. After 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 immense 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 gross sales in return. But it shouldnt introduce the hybrid feature in all the cars, since if other competitors starts making the same kind of car and has better brand image, then Toyota can no longer differentiate its product. But as demand for hybrids go up, Toyota should maintain a steady production a nd invest on making other new types for serving other segments and maintain a balance.