The Toyota Prius is a full hybrid vehicle that can greatly appeal to environmentally-conscious people. They can be viewed as the target market for the company. Thus, it is necessary to examine the demographic and psychographic characteristics of these customers.
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The age of these people ranges from 30 to 55. According to statistical findings, the buyers of hybrid vehicles have completed their high-school and college education (Mansvelt, 2010, p. 97).
They are aware of the environmental benefits brought by hybrid vehicles, and the Toyota Prius may seem like a suitable choice for them. Furthermore, these people are usually married and have children (Mansvelt, 2010, p. 97). It should also be mentioned that such consumers are equally represented by males or females, but the recent trends suggest that women are becoming more active consumers of hybrid cars. Finally, one can say that these customers are upwardly mobile and their income is above the average. Thus, they can afford to purchase the Toyota Prius. These are the main demographic characteristics of these people.
Additionally, it is important to discuss the psychographic characteristics of these customers. First, they are technologically adept individuals; this means that they are more willing to use new products and technologies (Abrams & Kleiner, 2003, p. 92).
Secondly, these people attach importance to the social responsibility of companies; this is why they prefer eco-friendly vehicles such as the Toyota Prius. Apart from that, companies should take into consideration that such customers usually lead to a healthy lifestyle (Abrams & Kleiner, 2003, p. 92). Thus, the Toyota Prius can seem attractive to them, because hybrid vehicles reduce the dangerous impact of carbon emissions on people’s health.
These customers can be driven by two important factors; one of them is the need to reduce the cost of gasoline consumption. Certainly, the future buyers of the Toyota Prius can well-to-do people, but they also want to decrease their expenditures. Thus, they may decide in favor of the Toyota Prius. Finally, the need for self-esteem can also motivate these buyers. They want to make an eco-friendly choice that can be recognized and praised by other people.
Abrams, R. & Kleiner, E. (2003). The Successful Business Plan: Secrets & Strategies. New York: The Planning Shop.
Mansvelt, J. (2012). Green Consumerism: An A-to-Z Guide. New York: SAGE.