Microenvironmental Factors Affecting Toyota

Topics: Plug-in hybrid, Renault, Electric vehicle Pages: 4 (1582 words) Published: June 21, 2013
Microenvironmental factors are “The factors close to the company that affect its ability to serve its customers” [principles of marketing]. The microenvironmental factors that affected the introduction and sale of the Toyota Prius were it customers, competitors and publics. Customers are anyone who buys or rents from the company. Customer are the most important microenvironmental factor that affect company as they survive on meeting the wants and needs of the customer and failure to do so will result in the company failing. Toyota study their customers and saw that they wanted a car with better fuel consumption and as a result Toyota decided to make the Prius, their first hybrid car. Toyota dealt with their customers by setting up website to educate the customers about the Toyota Prius. They took advantage of Earth Day to send out green seed cards shaped like Toyota’s logo to prospective buyers and they also gave away some green Prius at Earth Day events. However, Toyota did not recognise that consumers normally don’t buy cars for the saving in the long-run so “fuel savings are not going to be the key it convincing people to purchase the Prius” [principles of marketing]. As a result of this Toyota have asked governments to give tax cuts to cars with better fuel consumption. Competitors are any company in the same market place as your company. In order of a company to be successful in the market place a competitors most grain a competitive advantage over its competitors. Toyota has been successful in maintaining its competitive advantage although competitors like Citroën have cars which are just as efficient as the Toyota Prius, “Toyota is still the market leader in this segment” [principles of marketing]. They have done this by capturing people imagination by being the first Hybrid car on the market and through the effective use of advertisement. Publics are any group that has an actual or potential interest in an organisation’s ability to achieve its objectives....
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