Chapter 4: The Marketing Environment

         Many people have a mind set that Lexus is one of the most expensive cars out there, to a certain extent I agree with this statement but upto a certain point I completely disagree mainly because Lexus has many different models. The Lexus IS250 is the cheapest car that Lexus has to offer. The MSRP for the IS250 is for $34,000 starting. Many people always question why would I go spend over $34,000 when I can simply pay $25,000 for a Toyota Camery, what people need to understand is that even with the lowest class that Lexus has to offer you are getting the same Luxury bases that all the models carry out. What I love the best about Lexus is that their target market is so diverse. Every model they have is suited for every kind of person. The IS250 is mostly made for young drivers, the ES350 is made for families, The RX350 is made for families with kids, and the famous LS460 is the most upscale vehicle that Lexus has to offer. Lexus will never differentiate their customers based upon what they can afford or how they look like and trying to see if they can be able to afford the car, but instead they see whats best suited for their which is a great thing.

Chapter 3. Ethics and Social Responsibility

When owning a firm or corporation the biggest step to success is to have a good set of morals and having a positive ethical background. The code of ethics is a guideline to help marketing managers and other employees make better decisions. 

Lexus's Code of ethics consists of, 

:Any walk in is a potential customer treat them all the same. 

:To perform the highest quality service and repair at a fair price.

:To care about each customer and treat them the way I would want my family to be treated.

:To Recommend the services and repairs that are necessary to keep our customer's vehicles in safe working order and maintain the vehicle's value.

:To use only original equipment parts or products which equal or exceed those recommended by the vehicle's manufacturer.

:To service and repair the vehicle in the same day, if possible, and to keep the customer informed of any and all changes including completion times.

:To make the customer's vehicle servicing experience as convenient as possible.

:To ensure that my entire staff conducts themselves in a professional manner and understands that our customers are the most important part of the business.

:To always conduct ourselves with honesty and integrity.

Looking at their code of conduct it clearly shows that Lexus has a high set of standards that they want to portray to their customers. Being a company that is considered in the "high-end" their code of conducts doesn't really amuse me I dont feel that they are going out of their way to treat the customers with royalty. 

Chapter 2 : Strategic Planning for Competitive Advantage

In chapter 2 they explain what a SWOT analysis is, and what it really means is that it allows the firms to identify their competitive advantage. Competitive advantage is a set of unique features of a company and its products that are perceived by the target market as significant and superor to those of the competition. SWOT is abbreviated for, strength, weekness, opportunities and target. The three types of competitive advantage there are, are (Cost, product/service differnitiation and niche. The facts listed beow is an analysis of the vehicle Lexus IS250

Strengths

:Extremely prestigious in theluxury segment

:Stylish and dynamic design which reduces modernized drag providing swift drive

:Continuous innovation to achieve maximum power from minimum fuel consumption 

:Strong appearance in racing events which builds good customer connection and high profile networks

Weaknesses

:Limited distribution and service network and spare part avaibility 

:Tough competition means limited market share

Opportunity

:Accommodating and expanding automobile market

:Acquire newer customers by increasing market penetration

Threats

:Percived as a costly brand which can lead to limited exposure to potential customers

:Competition from other big automobile giants 

Competition

:BMW

:Infiniti

:Mercedes Benz

:Audi

Lexus has been living up to their mission statement which was to ensure quality and comforbility with the sleekest design. The Lexus IS250 was initally launched out in 2006. During 2006 competition had begun, the Lexus IS250 was ranked the highest selling car in the automobile industry during that time. Their biggest competitor was BMW with the 3'series. The BMW 328i was the second top selling vehicle after the Lexus IS250. The advantage that Lexus had over BMW was their life long guarantee and their history with their cars. BMW were known to break down after 70 thousand miles where as the LExus had extended life whtere it almost lasted over 150 thousand miles.

The 5 p's
Product : Lexus IS250

Place : Worldwide dealerships all around the world. 

Promotion : Lexus has been offering at home service if their cars have broken down - this was very new and vert successful service thy were offering which no company in 2006 was offering. 

Pricing - The Lexus IS250 has been known to be an expnsive car, but then again you pay for what you get, which is quality service, phenomenal drive, sleek design, one of the most long lasting car in the Luxury genre. 

Chapter 1. History and Mission Statement

                        If you ask me what I think of when I hear the word Lexus, I think it means Luxury in silence.Were you guys aware that Lexus was a luxury division of the famous Japanese automaker Toyota Motor Corporation? The founder of Lexus was Eiji Toyoda who was also the President of "Toyota Motor Corporation".Lexus was first introduced in 1989, Mr Toyoda was initially questioned if they will be able to execute their product to the the standard where it can be labeled as the best luxury car out in the market. From day one of the production Lexus vehicles have been produced in Japan. Since the early 2000's, Lexus has marked up their sales outside its largest market in the United States through an ongoing global expansion. In 1980 Lexus had begun their first project which was called the F1 project also known as the "Flagship One"


MISSION STATEMENT  :Our Mission is to ensure that Lexus delivers on the Brand Promise to exceed custom expectations by providing personal and individual facility design and consultation to our customers and their design teams to ensure the best possible Lexus vehicle available
source : 
http://www.lexus.com/lexusvisionusa/about_mission.html