Comprehensive Analysis of Toyota Prius Marketing Mix Strategies

This report provides a comprehensive analysis of the Toyota Prius's marketing mix, examining its product, pricing, distribution (place), and promotional strategies. The product analysis highlights the Prius as a fuel-efficient hybrid electric automobile, emphasizing its market presence and maturity stage. The pricing strategy focuses on market-oriented and value-based pricing to attract consumers. The place strategy discusses Toyota's distribution channels, primarily through dealerships and retailers. The promotional strategy covers personal selling, advertising, and other tactics. The report concludes that Toyota effectively utilizes its marketing mix to provide a successful strategy for the firm and its product. References from marketing experts such as Kotler and Armstrong are provided to support the analysis.

Toyota Prius

Introduction
Toyota Prius is the product that is being
selected for the assignment to
understand the marketing mix of the
firm regarding this product. The paper
also provides the view of the product,
then the pricing strategy, place and the
promotional strategy of the firm.

Product
 It is the full hybrid electric automobile that is being
developed by Toyota
 In 2018 the product was rank as the second
most fuel efficient car
 This model was first sell in Japan
 The model Toyota Prius is generally sold in
over 90 markets all over the world
 The product provide care for their passengers
along with suitable delivery of the products
(Kotler, 2015)

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 The product also provide suitable
quality as well as fashion to the
entire world
 The product is quite old but they are
having effective market presence till
date
 The product is in their maturity stage
where they provide benefits for both
the firm and the customers

Price
 The price of Toyota Prius in the market is almost 8799 USD
 The organization use market-oriented pricing strategy for their
products
 The organization also use the value-based pricing for their model to
attract the customers within the market (Armstrong et al., 2014)
 The company generally use the market-oriented pricing for their
products

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 The company for Prius particularly use the value-based pricing
strategy
 In this the organization fix their market value according to the market
condition as well as the perception of the consumers
 Toyota Prius is one of the luxurious car that is being manufactured by
the company

Place
 Toyota maintain their distribution with the help of suitable dealership
within the market
 The two primary phase of the distributions that is being used by the
company is dealership and the retailers (Eneizan et al., 2016)
 The organization maintain their dealers to provide suitable products
on the demand of their customers

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 Toyota Prius is being distributed by the dealers to the customers for
gaining effective growth within the market
 The distribution that is being utilized by the company is quite
effective and suitable for the firm to obtain various products within
the market
 The distribution channel for the Prius in the market is the dealers of
the firm

Promotion
 The organization with their promotional strategy cover the entire
tactics of marketing communication
 The promotional activity that is generally utilized by the firm is the
personal selling, advertising, public relations, sales promotion and the
direct selling (Irfan et al., 2014)
 For the product Prius the company usage personal selling with the
help of dealers

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 The organization also provide suitable and effective advertisement on
the newspaper, television and so on
 The organization use the promotional strategy for the product in the
various way to perform suitable and effective communication within
the market (Sexton, and Sexton, 2014)
 The products is having the most suitable advertisement process
within the market

Conclusion
 The products is one of the most luxurious product of the Toyota
company
 The organization maintain their marketing mix in the most suitable
way to provide effective strategy for the firm
 The product is having effective influence in the market

References
 Armstrong, G., Adam, S., Denize, S. and Kotler, P., 2014. Principles of marketing. Pearson Australia.
 Eneizan, B.M., Wahab, K.A., Zainon, M.S. and Obaid, T.F., 2016. Effects of Green Marketing Strategy
on the Financial and Non-Financial Performance of Firms: A Conceptual Paper. Arabian Journal of
Business and Management Review (Oman Chapter), 5(12), p.14.
 Irfan, M., Sumangala, C. and D'Souza, L., 2014. Green marketing mix strategies of consumer
durables with reference to the automobile sector. International Journal of Emerging Research in
Management &Technology, 3(6).
 Kotler, P., 2015. Framework for marketing management. Pearson Education India.
 Sexton, S.E. and Sexton, A.L., 2014. Conspicuous conservation: The Prius halo and willingness to
pay for environmental bona fides. Journal of Environmental Economics and Management, 67(3),
pp.303-317.