{"id":2091,"date":"2008-10-13T07:00:09","date_gmt":"2008-10-13T06:00:09","guid":{"rendered":"http:\/\/www.corporate-eye.com\/?p=2091"},"modified":"2020-07-27T14:43:41","modified_gmt":"2020-07-27T13:43:41","slug":"toyota-considers-making-prius-an-independent-brand","status":"publish","type":"post","link":"https:\/\/www.corporate-eye.com\/main\/toyota-considers-making-prius-an-independent-brand\/","title":{"rendered":"Toyota Considers Making Prius an Independent Brand"},"content":{"rendered":"

\"\"<\/a>Toyota<\/a> already has several successful independent brands – the Prius at a lower price for younger buyers and the Lexus<\/a> at a higher price for older, luxury car buyers.\u00a0 Now, Toyota is considering making the hybrid Prius an independent brand complete with new models.\u00a0 A smaller Prius and larger Prius are both being considered for the new brand lineup.<\/p>\n

According to James E. Lentz III, president of Toyota Motor Sales USA, the Prius independent brand strategy comes directly from consumer demand and market conditions.\u00a0 In short, consumers want more fuel efficient car choices in the United States, and the Prius is the most popular hybrid car in the U.S.\u00a0 It makes sense to extend the line and make Prius its own brand.<\/p>\n

Unlike Lexus vehicles that are sold in separate dealerships from other Toyota brands, the Prius would likely sit in the same dealerships as Toyota and Scion branded vehicles.\u00a0 Again, this makes sense since it will be easier to try to move customers from one brand to another within the same dealership (e.g., switch from Toyota to Prius, move up from Scion to\u00a0Toyota or Prius, etc.).\u00a0 According to the New York Times<\/em> blog, Green Inc<\/a>, Toyota is already working on developing a Prius logo.<\/p>\n

While other car manufacturers struggle to keep up with Toyota, the market leader is listening to consumers, looking ahead to predict future market conditions, and modifying its overall branding strategy to meet those demands.\u00a0 It’s a perfect example of trying to be proactive rather than reactionary.\u00a0 Think of it this way, Chevrolet doesn’t expect the Chevy Volt (its version of a hybrid) to be available in the United States until late 2010 or 2011.\u00a0 Toyota and Prius will be on to bigger and better things by then.<\/p>\n

What can we learn from this?\u00a0 Don’t try to create a product or brand then force feed it to consumers.\u00a0 Instead, listen to consumer demand, be knowledgeable of market conditions, look into the future and embrace the changes it brings, then develop products and brands that proactively leverage those learnings.\u00a0 It’s an obvious lesson but one that corporations (who are famous for getting in their own way) can forget.\u00a0 Be the Toyota of your market.<\/p>\n

Image: <\/em>Flickr<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Toyota already has several successful independent brands – the Prius at a lower price for younger buyers and the Lexus at a higher price for older, luxury car buyers.\u00a0 Now, Toyota is considering making the hybrid Prius an independent brand complete with new models.\u00a0 A smaller Prius and larger Prius are both being considered for […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[95],"tags":[112,100,110,811,812,810,809,808,807],"class_list":{"0":"post-2091","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-brand","7":"tag-brand-extension","8":"tag-brand-strategy","9":"tag-corporate-branding","10":"tag-environmental-marketing","11":"tag-fuel-efficient-cars","12":"tag-green-branding","13":"tag-hybrid-cars","14":"tag-prius","15":"tag-toyota","16":"entry"},"yoast_head":"\nToyota Considers Making Prius an Independent Brand<\/title>\n<meta name=\"description\" content=\"Will the Prius become its own brand like the Lexus or Scion from Toyota? 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