Published by MBA Skool Team, Last Updated: April 27, 2020
SWOT analysis of Toyota Prius analyses the brand by its strengths, weaknesses, opportunities & threats. In Toyota Prius SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Toyota Prius to benchmark its business & performance as compared to the competitors. Toyota Prius is one of the leading brands in the automobiles sector.
The article below lists the Toyota Prius SWOT (Strengths, Weaknesses, Opportunities, Threats), top Toyota Prius competitors and includes its target market, segmentation, positioning & Unique Selling Proposition (USP).
You don’t have to plug it in; Planet’s favorite hybrid
Revolutionary design, environment friendly
Toyota Prius STP
Young executives and small families
Positioned as world’s first mass production hybrid car which provides powerful driving experience along with advanced design
SWOT Analysis of Toyota Prius
For Toyota Prius, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position. Let us start the Toyota Prius SWOT Analysis:
Toyota Prius Strengths
The strengths of Toyota Prius looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Toyota Prius :
1. Environment conscious and provides reduced carbon emission
2. Elegant interiors and revolutionarily designed exteriors 3. Exceptional fuel efficiency
4. Three modes available for driving: for fuel efficiency, for low exhaust emissions, for smooth performance 5. Nearly 3 million sales in over 70 countries establishes its popularity 6. Good branding and advertising
Toyota Prius Weaknesses
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Toyota Prius SWOT Analysis:
1. Slightly High price as compared to petrol variants
2. High maintenance cost being hybrid models
Toyota Prius Opportunities
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Toyota Prius SWOT Analysis:
1. Can gain from first movers advantage in hybrid segment
2. Acquiring collaborations with automobile business entities
3. Augment distribution and servicing network
Toyota Prius Threats
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Toyota Prius are as mentioned:
1. Higher maintenance costs may defer the customer
2. Competition offering innovative features at lower price 3. New entrants in the same segment with better features and lower price
Toyota Prius Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Toyota Prius:
2. Mercedes Benz C Class
3. Volkswagen Passat
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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