Toyota Prius

Toyota Prius: A Pioneer in Hybrid Technology

Toyota Prius is a full hybrid electric automobile created by Toyota. Notably, the California Air Resources Board and the US Environmental Protection Agency ranked the vehicle as one of the cleanest in terms of smog-forming emissions. Furthermore, the automobile has proven to be a fuel-efficient gasoline-powered vehicle, and it holds the distinction of being the first mass-produced hybrid vehicle. The primary features of the case depict Toyota's problems in developing the world's first production car that was powered by a combination of electricity and gasoline. The product was as a result of the Globe 21st century plan to come up with an automobile that had better fuel economy and lower emissions as compared to the existing vehicles. Therefore, Toyota Prius represents the power of excellence in product innovation and marketing.

The Development of Hybrid Technology

Several alternative ideas were on the table to come up with a model that would use a gas-electric hybrid system. Solar-powered vehicles, hydrogen-powered fuel cells, electric motors, and direct-injection diesel engines were some of the considerations. Remarkably, improved technology combined with powerful control electronics and batteries provided a platform for two propulsion systems made coming with the model possible. Other car manufacturing companies had made attempts in the previous years to get with electric vehicles, but they failed terribly concerning marketing the automobiles. The only aspect that worried the consumers was the short battery life presented by the electric vehicles. When the diesel-electric cars hit the market in the years of 1990s, they were not successful owing to their relatively high prices as compared to the diesel engines. The idea of hydrogen powered fuel cells was not technically feasible and was not within the set time frame set by Toyota.

The Power of Hybrid Technology: A Game-Changer

The hybrid technology was adopted to power the Prius cars through a combination of an electric-drive system and a gasoline engine. Remarkably, only electric motors are used to power the locomotives at low to mid-range speeds and the engineers had to emanate with an elucidation for handling the powerful voltage that exists between the electric motor and the battery. The new heavy duty transistors helped to fit the large battery, the electric motor, and the gas engine into a compact car casing. In the year 2000, Prius was introduced to the United States market and the massive advertising that ensued enabled the car model to penetrate the market as a leading edge I the technological generation.

The Success Story of Toyota Prius

Toyota Prius is in the development phase of the product life cycle since the car model is characterized by a significant increase in the sales and profits. Notably, Toyota Company began to benefit from the innovation of the model regarding the profits margins, economies of scale and the overall increase in the earnings over time. As a result, the company can invest more finances into the promotional activity of the car model in the effort of maximizing its growth at this stage. The marketing strategies being followed by Toyota for Prius aimed at creating a brand that will have the ability to become a market leader in the hybrid-automotive car producers in the automobile market in the world. Also, the company seeks to their marketing objective through effective communication that is aimed at reshaping and redefining the benchmark for the motor industry through which producers and consumers use both consciously and unconsciously to evaluate the performance of vehicles. The result of the strategy is to create a brand that is unique in the market through setting up a new product category in the market and the lead in the classification.

The Eco-Friendly Choice for Consumers

Consumers in the automotive industry demand automobiles that are in line with the emerging technologies and relatively cheap and eco-friendly. Consequently, as a marketing strategy, the Prius has a competitive piece in the market and has engine capacities and capabilities that save fuel and emit fewer fumes to the atmosphere. Therefore, Prius as a brand, gas positioned itself as the next big thing in the automobile industry. The dynamic nature of the Toyota marketing strategies made the company emphasize more on hybrid synergy drive and was most appropriate considering the growth stage of the product life cycle. The main aim of the move was product differentiation. Many similar gasoline-electric powered automobiles had emerged in the market, and thus it was crucial to differentiate the Toyota hybrid system from others that were emerging in the market.

The Call for Widespread Adoption of Hybrid Technology

Toyota should convert all of its cars to hybrids. Reduced fuels costs are a significant aspect of the hybrid vehicles, and the consumers save thousands of dollars as running cost of the Hybrid automobile. Also, the hybrids have fewer emissions due to their slow sip rate and thus reducing the number of greenhouse gases they produce. Hybrid cars have the impact of keeping the air clean, and their tailpipes lead to saving of hassle, time, and money as they need less emission testing. Finally, hybrid automobiles have a higher resale value and are built from light materials, and thus less energy is used to turn them. Their regenerative braking systems and less dependence on fossil fuels make the automobiles attractive in the market, and thus the company has all the reasons to convert all of theirs cars to hybrids.

To sum it up, Prius is a success for Toyota and has motivated the company to come up with numerous product opportunities in addition to licensing strategies and hybrid technology extension. Hybrid automobile technology should be adopted by all car manufacturers in the effort of reducing over-dependence on fossil fuels and the reduction of global warming.