IMD-5-0727 © 2007
Ichijo, Kazuo; Pahwa, Atul
In the year 2006; for the seventh consecutive year; Lexus was the largest selling brand of luxury cars in the US. But in Europe; Lexus was successful having registered income of just over 20,000 autos annually by 2003. Management recognized that it had to create its own heritage; not only chase after the market leaders like Mercedes Benz; BMW; and Audi — and therefore be traditional to the European concept of extravagance. A market examination pointed to that just over 1 in 20 luxury car buyers in the Europe perceived Lexus to be a luxury automotive product.
It was obvious that the American accomplishment convention of dependability; size; and relaxation would need to be augmented by the European requirements of focus on brand and detail tradition. Learning objectives: To discuss innovation across service; merchandise; and advertising sections while launching a new product in the marketplace.
Toyota Motor Corporation Building The Lexus Brand In Europe Case Study Solution
Subjects: Automotive; Innovation; Marketing; Product launch; Luxury brand
Settings: Europe; Automotive; > 21 billion Yen; 2006
