Marketing

1. a. In April 2003, Toyota announced its plan to become a largest automobile manufacturer in the world. Part of this plan is the commitment that by 2012, all the vehicles produced in the U.S will have a hybrid - electric engine available. In 2004, Toyota Prius was introduced to market and became the first ever mass produced hybrids vehicle in the world.

Target market for the Toyota Prius is the private owners who have one of these characteristics

i. They are early adopters or technology pioneers. The hybrid electric is a very new technology and according to some analysis, it is a disruptive technology. As a disruptive technology, the Prius possesses the superior value in compared with the traditional technology such as the fuel efficiency and environmentally friendly technology. Though at the early stage of development, disruptive technology does not perform as good as the mainstream technology, it is predicted to outperform the current technology to become the dominant of the automobile industry. Foreseeing the potential and superiority of the hybrid technology, the innovators or the early adopters will be driven by the new ideas of the new technology and will willing to take the risk of driving the Prius. Moreover, although the innovators and the early adopters account for the minority of the customers, they possess the important trait as the bridge for Toyota to emerge from a niche market into the mainstream one.

ii. They have environmentally friendly consciousness. As the global warming become more and more serious, people become more and more aware of how to reduce emission to the atmosphere and finding the cheap alternatives for petroleum. According to the survey conducted by the Wall Street Journal in 2001, 91% of people agreed that there was a need to invest more on the new sources of energy such as solar and fuel cell in order to solve the energy as well as the environmental crisis. Therefore, with the ability to cut the tailpipe emission up to 47% in compare with the gasoline power car, Prius undoubtedly can address the market demand of the greener car and can win the pocket of these customers.

iii. They have a value consciousness. In the world that the main fuel, petroleum, is controlled by the minority of people and is subjected to fluctuate unexpectedly, some people are now seeking for the technology that are fuel efficiency but still can achieve the same performance as the traditional one. Hence, the Prius can be their best choice because it provides the driver with the higher average mileage per gallon in compare with the current engine (50 to 55 mpg). Therefore, the driver will benefit from its low operating cost.

iv. Finally, according to the Wall Street Journal in 2001, the average Prius driver was female, age 51, average income approximately 75000 USD, fairly well of and educated.

b. Toyota Prado.

i. They have a sporty personality and love adventure. “Prado’s new turbo-diesel engine delivers strong performance from idle and features an extremely flat torque curve,” said Australia’s senior executive director sales and marketing David Buttner. For those who find their inspiration in sport or recreational activities, Prado provides them a robust and masculine image. With the intelligent Diver Assist Technology that incessantly analyse the driving condition, driver easily drive up the hill or stabilize the car when going off road. This feature, along with the powerful 4.0LV6 WT-I engine, allows the driver to fully enjoy their high sense of adventurousness, to self- explore the charming beauty of where they drive by without fearing being gotten stuck by the incompatibility of the car. These images powerfully appeal to those people who find themselves in physical challenges and in the beauty of exploration

ii. They possess the business manner. Besides the powerful image, Toyota Prado is a good fit for those who value the professionalism and the elegancy in the appearance and interior design. With the leather interior and the automated adjusted air conditioner, drivers will be able to be in their highest comfort to enjoy the journey. In the exterior design, Prado with its large sculptured head lamp and an enclosed and integrated rear door handle and plate light that helped it to win numerous award will provide the user with the sense of pride when driving with such an elegant automobile.

iii. They are usually affluent because the SUV normally consumes more fuel than the sedan or the hybrid car and moreover, the fuel price at this point of time is very high. Therefore, to afford the fuel need of the car, the buyer should be rich.

2. Fishbein Attitude Model for 3 book stores: Kinokuniya, Popular and Borders.

Borders Kinokuniya Popular

Location 7 8 6