Marketing Strategy of Toyota Energy-Saving Vehicle in UK Market Essay

Marketing Strategy of Toyota Energy-Saving Vehicle in UK Market - Essay Example The researcher states that alternative energy news gives a range of definitions of energy-saving vehicles indicating that an energy saving vehicle has one or more of the following qualities. A stop-start engine, with is a standard internal combustion engine which turns itself off when the car comes to a stop. A hybrid vehicle which combines a standard internal combustion engine with battery-powered technology, allowing the car to select the most efficient source of power through an onboard computer. Finally, there are cars which run entirely from an electrical source based upon current battery technologies. At present Toyota produces and markets two models of energy saving vehicle in the UK each of which has a slightly different marketing mix. The Prius is Toyota’s original hybrid model and is aimed at the mid-upper end of the market for family cars. The car is marketed as a product which is environmentally friendly and gives the consumer long-term cost savings with low MPG co nsumption rate. The car is currently marketed in four specifications ranging in price from  £21,000 to  £27,000. While the performance figures for the car in terms of fuel consumption are a significant selling feature of the model and see the cost of running far lower than many other vehicles on the market. Critics indicate that there are also other energy saving vehicles on the market which far higher levels of performance when it comes to the issue of cost savings. With the Toyota Prius now entering its fourth generation, one may consider that the product is entering the maturity stage of the product lifecycle. Consumers no longer see the Toyota Prius as a radical innovation but a practical way of enjoying low-cost motoring from the perspective of running costs. Toyota Auris represents the second model of energy saving vehicle to be introduced to the UK market by Toyota. Like its predecessor, the Toyota Prius the car makes use of hybrid engine technology to deliver a vehicle w ith low running costs and other financial benefits such as low tax duties. However, the marketing mix and target audience for the Auris model is slightly different to that of the Prius.