Term Paper: Designing Marketing strategy for Toyota Prius

By | April 27, 2011

Sample Term Paper

Term Paper: While designing the marketing strategy the thing which should be kept in mind is that the distinctive features of the Prius should be highlighted. The unique selling proposition USP which we have already discussed in the earlier part of the paper should be stressed upon in the promotional campaigns. Also any misconceptions or fallacies present in the mind of the customer that are stopping them with the purchase of the Prius should also be removed (Kotler 2004).

The promotion of a product tends to change with the passage of time and with the product life cycle. At the early stages of the product promotions should be focused on awareness, educating and informing the customers about the Prius. The customers should be informed with the advantages and merits of the car. Later on when the product gets a bit mature then the focus of the promotional activities can shift from educational aspects to the specific benefits and perceived value of the product (Mohr, Sengupta and Slater 2009).

Similarly during the promotional activities the car and the users of the car should be presented in a way which depicts innovativeness, boldness, responsibility, and intelligence. This should be done just to appeal the customer and to create a perceived value in their mind. There is a confusion that prevails in the mind of the public regarding recharging of the car. This confusion should be removed by clearly stating that the Prius does not need any outside recharging like the traditional electronic vehicles (Hage and Meeus 2006).

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