MGT 3300 Lecture Notes - Lecture 2: Cameron Diaz
Document Summary
Case 3: toyota prius the power of excellence in product. Explain: there are four stages of the product life cycle introduction, Toyota prius is in the growth stage since it is innovative and continuously being improved. Since it"s introduction in 1997, toyota has made efforts to make the prius even more affordable, as well as with better fuel economy than other competitors" automobiles that are also considered. Hybrid : describe the marketing strategies being followed by toyota for the, brand recognition/familiarity: being one of the first to bring a. Prius. hybrid into the market, toyota was able to set camp and be recognized by consumers. When continuously making improvements, they sought out to give consumers the best product possible, thus re-enforcing that brand recognition and creating brand familiarity. When we say prius , we automatically think toyota : channels, promotions, (celebrities): toyota did something unique.
