Ch. 11 - Developing and Managing Products

 Hybrid car is one of the newest innovations in car market and Toyota is the pioneer and leading company in this market. Prius was New-to-the-world product when Toyota introduced it back in 1998. Their strategy was to develop a Mid-size low price car with high quality and low fuel consumption. Toyota Spent considerable amount of time, money and risk to design and develop a car that didn’t exist in the market.

Ch. 8 - Segmenting and Targeting Markets

        In 2005 Toyota decided to develop and promote a car that would appeal on a global scale to 18- to 25-year-old, a group that will dominate global car sales in 2020 therefore, they developed Scion brand. A well-designed car for the segment market that Toyota wished to reach. The Scion product concept came from the observation that many West Coast youth were attracted to low-cost cars such as the Honda Civic and the Toyota Corolla.