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Toyota Prius - Major Macro-Environmental Factors

Essay by   •  March 1, 2011  •  Essay  •  464 Words (2 Pages)  •  2,641 Views

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Q2) Outline the major macro-environmental factors-

demographic, economic, natural, technological, political, and

cultural-that affected the introduction and re-launch of the

Toyota Prius. How well has Toyota dealt with each of these

factors?

A2) The main customer focus of the company was those people who were youngsters i.e. belonging to generation Y. so the main focus of the entire

promotional activities were the 'techies' due to which a major portion of their

profits was contributed by them.

With respect to the economic factors, the case shows that the customers had

enough income to spend on this luxury. This is shown by the fact that the

company was able to sell 1800 cars in immediately and also had to raise the

monthly production level by 33% and then even by 100% to meet the

demand.

Toyota is an "environmentally concerned" company since it had greater fuel

efficiency and lower emissions. It also took advantage from the

environmental appeal by sending out green seed cars shaped like Toyota's

logo to prospective buyers on Earth Day.

The technological factor is explained by the many factors including adding

cruise control by some wiring, dashboard display screen, playing video

games, installing sniffer, 7-inch energy monitor, a CD player holding 6 discs

at a time and many more. Since the customers favored technological

products and had enough knowledge Toyota was able to maintain customer

loyalty.

Politically, the company received support form the government in the form of

tax deductions which helped efficient production but on the same note the

speed limit factor acted as a hindrance but was covered by extensive

marketing campaigns.

2. Major macro environmental factors

A. Demographic – Study of human population in terms of size, density, location, age, gender, race, occupation and other statistics. The U.S. worships scientific and technological advances and wants the latest gizmos.

B.

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