In: Economics
Mini - Essay: Please answer the following in essay format:
Discuss the concepts of perception, memory, and learning as they relate to the brand positioning of the Toyota Prius Hybrid.
Brand positioning is a critical factor for marketers across all industries. It aims at creating an image of the company in the minds of the consumers which gives benefits which are not restricted to the qualities of the product alone but the overall package which is being offered to the consumer.
The Toyota Prius Hybrid is an electronic vehicle which is aimed at reducing the carbon foot print of the people using it. It is a car which charges the batteries using fossil fuels which can then be used to run the car as an alternative fuel component.
The perception is aimed at creating a positive brand image in the consumer’s eyes for the product being offered as the consumer then believes that the car will help him/her in being an equal participant towards reducing the foot print. The consumer assumes that they pollute the country and the globe a little lesser and the viewpoint towards Toyota is that it is a company that aims at reducing carbon emissions while maintaining the overall quality of the product sold.
Memory and Learning also plays a vital role in the brand positioning of Toyota Prius Hybrid. The company has had an active display of advertisement in which it has laid down how the company is serious in reducing the effects of fossil fuel damage to the society and also sets a picture in the minds of the consumers that the company is ecologically very serious and friendly which is imparted in their overall memory and learning curve respectively.
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