Prius Marketing

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Two types of utility that Toyota Prius exemplifies are Ownership and Time. When a consumer purchases a Prius they are transferring ownership which would explain Ownership utility. I think Time utility is also represented since our environment is making a switch toward more environmentally friendly world. Toyota’s timing on the Prius was perfect; people are becoming more and more conscious of the environment everyday so the Prius was fast selling when first introduced. There was a long wait to even get one in the beginning. Building and maintaining relationships is important to Toyota. They build relationships with their consumers, suppliers and dealers. One of the ways they help their suppliers is with the Toyota Green Supplier Guidelines that were originally created in 2000 and updates in 2007. Toyota helps suppliers to improve their performance in becoming more environmentally friendly. Toyota also provides environmental training to their dealerships by offering web-based resources. They launched a program to help dealerships understand regulations for recycling. This program also launched a partnership with a waste management firm that can provide recycling services to dealerships. I believe based on our current economic environment that Toyota Prius is in a seller’s market. I think as people get more involved in helping make the environment a greener place they look for ways to help. One of the ways to help would be by purchasing a vehicle such as the Prius. Toyota launched a third generation Prius with a lot of features that I think consumers will be interested in. I don’t think that Toyota will have a problem at all selling vehicles, in fact may end up having the same problem as the beginning and not be able to produce them fast enough. Marketing concept deals with every aspect of a company satisfying customer wants and needs.
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