Toyota Prius

Toyota Prius

Toyota Prius

Product Description

Toyota Prius is a hatchback car (mid-size) which is fully hybrid electric. It is one of the most successful compact sedan models developed and design by the brand Toyota. The Environment Protection Agency (EPA) and California Air Resources Board (CARB) have also rated this car of Toyota among the most cleanest and user friendly vehicles sold in the United States of America. The car is purely based on the pollution control factors (smog forming emissions). Toyota Prius is a vehicle which mainly relies on 2 components, which is the optimizations efficiency and the reduced emissions.

The engine of Toyota Prius only runs at a sufficient load and speed, which helps in reducing emission and the engine of the car starts after the car has crossed a certain speed. The vehicle uses a different power split device which allows the engine to be in a state with most efficient speed and load (Efficiency et. al, 2006). The innovative feature of Toyota Hybrid is that the car makes use of both the conventional petrol engines, as well as the electric motor. The electric motor in the car supports to control off its fuel engine when motionless, and recharges the motor by means of the kinetic energy formed when braking. This feature does not only conserve fuel and energy, but allows for a smooth drive with better road congestion (De Haan et. al, 2006).

Target Market

Toyota Prius is a vehicle which is associated with the lower and medium passenger car sector. Toyota Prius has the benefit of being the “first mass produced hybrid car”. The target market of the vehicle can be split into 2 categories: 1) Business Buyers, 2) Private Buyers. The business buyers are the ones which consist of consumers who either take the car for rental or hire purposes. It is an attractive product for the business buyers. The private consumers of the brand are people between the age group 30-50. These include the Full and Empty Nest category. These include the upper middle and high class social class, the AB socioeconomic sector of the market.

The social class will not only buy the product for environment friendly purpose, but it will also include the ones with high disposable income. The psychographic target market of the brand will be the early adopters or technology pioneers, environment friendly, and value conscious people (Ginsberg et. al, 2004). The ...