Toyota Prius What Microenvironment Factors Term Paper

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It has made effective use of American's desire to save money on gas and avoid depending on foreign fuel, although it has given little attention to the additional time savings provided by the ability to drive in commuter lanes and tax and insurance savings provided to hybrid owners. It has perhaps shown perhaps insufficient consideration for American's obsession with power, speed, and acceleration, which drivers rated (surprisingly) even more highly than fuel economy in a recent survey when asked what motivates them to buy a particular brand of car (Reddell, Tran, & Zittle, 2006). Currently, Toyota is marketing the Prius with a stress on its lowered price tag: "Prius: Easy on Gas. And now Easy on the Wallet" ("Toyota Prius," 2007, Toyota Website). It continues to strike a balance between capitalizing upon consumer self-interest and interest in the environment, but Toyota could try to make the car itself seem sexier, perhaps with additional customization features, that might overcome the American obsession with power.

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GM's marketing Director for new ventures, Ken Stewart says: "If you want to get a lot of hybrids on the road, you put them in vehicles that people are buying now." This tends to summarize the U.S. automakers' approach to hybrids. Would you agree with Mr. Stewart? Why or why not?

Stewart seems to be suggesting that Americans still want large vehicles, but ideally vehicles with more fuel-saving capacity. Demographic research would seem to support his comments. Americans want to save money and are increasingly concerned about the environment, but more so than any other factors, the car's power and pleasure for drivers, and dominating size, determine their choice of a vehicle (Reddell, Tran, & Zittle, 2006).

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