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L E X U S= L U X U R Y  T O  V A L U E
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L E X U S= L U X U R Y T O V A L U E

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Transcript

  • 1. LEXUS=VALUE TO LUXURY
    • PRESENTED BY:
    • MONIKA SHARMA
    • NAVEEN KUMAR BB
    • NAYEEM-ZIA
  • 2. Toyota introduced the LEXUS in 1989. Next to Mercedes with the headline “The first time in history that trading a $73,000 car for a $36,000 car could be considered trading up”
  • 3.
    • Toyota planned to target the luxury cars market by creating a car that matched Mercedes on the performance criteroia.
    • It was priced much more reasonably, providing consumers the value they desired & making them feel they were smart buyers.
  • 4. HOW LEXUS IS BETTER THAN MERCEDES…….
    • Toyota sent a 12 minute video to their potential customers.
    • Showed that when a glass of water was placed on the engine block of Mercedes & a Lexus, water shook on Mercedes while the glass remained virtually still on Lexus.
    • This brought them success.
  • 5. MANAGEMENT STRATEGIES
    • Decided to raise the price of their vehicle.
    • This did not work.
    • Hence they turned to a new advertising campaign to inspire an emotional response to its cars.
    • Campaign was exceptionally powerful.
  • 6. COMPETITORS
    • Nissan Maxima
    • Mazda Millennia
    • BMW-BMW 3 Series
    • Mercedes-Mercedes C Class
  • 7.
    • In the response to the competition, Lexus emphasized on NON-TRADITIONAL ads and promotion, in addition to more mainstream luxury car ads.
  • 8.
    • Continues to show the automobile industry and its current customers that it is building vehicles with luxury, performance and style.
    • 2001- JD Power & associates ranked it no.1 in durability.
    • Again, was ranked no. 1 in retention of customers.
    • Also ranked no.1 in customer satisfaction.
  • 9. CHALLLENGES
    • Aiming to draw the attention of younger customers.
    • Retain the present clients.
  • 10.
    • To attract the younger customers, they sponsored a skiing event in Colorado, which included an invitation to all Lexus owners to spend a luxurious all-expenses paid weekend in the mountains
  • 11. THANK YOU
  • 12.