Principles of Marketing VIII

Review Video Case 3: Toyota Prius: The Power of Excellence in Product Innovation and Marketing located at:http://ezto.s3.mheducation.com/Media/Connect_Production/bne/OLC_Assets/Perreault_19e_0078028981/Video_Cases/ToyotaPrius.m4vToyota's stated objective is the creation of automobiles that are simultaneously environmentally clean as well as fuel-efficient. After you review the video, discuss which stage of the product life cycle the Toyota Prius is in, and include your rationale for that decision. What are the marketing strategies that are currently being used, and are they effective in reaching their target market? Do you believe that Toyota should convert all their automobiles to hybrids? Why or why not? What should be their next steps?