2. TOYOTA: LEXUS:
T. Smith
1. I am choosing to compare the car brands, Lexus vs Toyota. Both of these vehicles are manufactured by Toyota which is currently ranked as the 13th largest company in the world by revenue. I thought it was interesting that the mechanics of the vehicles are essentially the same, but with a few additional perks and different marketing/branding structures, they are perceived as very different in by the general population. 2.
TOYOTA:
Brand Core/Essence - Economical Reliability Brand Personality - Japanese Mfg, Reliable, Affordable Emotional Benefits - Sense of Confidence
Product Benefits - Affordable, Comfortable, Reliable, Longevity, Fuel Efficient Product Attributes - smaller, less frills, fuelefficient
LEXUS:
Brand Core/Essence - Luxury Driving Brand Personality - Upscale, Nice Interior Amenities, Top Quality Emotional Benefits - Priveleged or Wealthy
Product Benefits - More Comfortable, Improve Driving Experience Product Attributes - V6, Front Wheel Drive, Ride Quality, Quiet, Interior Amenities
3. According to a variety of sources, the mechanical design and structure of the comparable Toyota and Lexis brands are very similar. Typically most Toyota’s are 4-cylinder, where Lexus are 6 or 8 cylinder. However, there are some versions of the Toyota’s that are available in 6-cylinder. The Toyota assemblies can be replicated and built all most anywhere in the world. Toyota has plants in France, Turkey and the Philippines, to name a few. Until 2009, all Lexus were built in Japan and shipped to different countries, so they could control the quality of the engine which is built to be quieter. Currently only two plants exist outside of Japan for Lexus. One is Ontario, Canada and the other is in Georgetown, KS. Lexus are built for comfort, so offer more leg room along with nicer interiors and amenities such as heated/vented seats, back-up sonar, alloy wheels, parking assistance and very high-tech navigation systems. Another factor in the Lexus brand, is how it is sold. The purchasing experience is taken to a higher level with customers being given a 5-star treatment while in the showroom, and afterward. Although these two brands are created by the same company, they have been branded to embrace different consumer needs and budgets. They ensure that Toyota is able to expand their market share by presenting options based on a consumers budget and desired experience.
4. The Toyota brand is valued at $42.1 billion, according to Forbes in an article published May 2016. The brand consistently finishes in the top spot among auto brands according to Millward Brown Optimor, a unit of Kantar, advertising agency WPP's data investment management unit. Essentially, the brand is perceived as high-quality products that are innovative and trustworthy. Lexus is the fastest growing brand in the luxury category. Their current brand value, according to Forbes, is $9 billion and they are ranked #63 in the world based on 2016 rankings. Global volume for Lexus was up 12% in 2015 to 652,000 cars sold. Sales were up 20% in Europe and 11% in North America. which represents roughly two-thirds of the brand's sales. Lexus vehicles were deemed the most dependable new cars the past five years in the annual study conducted by J.D. Power & Associates. Although both brands are highly recognized, technically the Toyota brand is stronger due to it’s higher dollar value. As mentioned earlier, they are targeted to different types of consumers based on financial and emotional needs.
5. On-line Sources http://www.bloomberg.com/news/articles/2015-11-03/made-in-china-lexus-could-take-decades-astoyota-frets-quality
http://www.theglobeandmail.com/report-on-business/canadian-lexus-plant-gets-intogear/article18431405/
http://www.autonews.com/article/20140521/RETAIL03/140529982/toyota-remains-most-valuable-carbrand-worldwide-study-says
https://en.wikipedia.org/wiki/Toyota https://en.wikipedia.org/wiki/Lexus_ES http://www.forbes.com/sites/dalebuss/2014/10/16/toyota-leads-best-global-brands-but-audi-vwnissan-rise-most/#58a84d75d524 http://www.car-brand-names.com/toyota-logo/
1. I am choosing to compare the car brands, Lexus vs Toyota. Both of these vehicles are manufactured by Toyota which is currently ranked as the 13th largest company in the world by revenue. I thought it was interesting that the mechanics of the vehicles are essentially the same, but with a few additional perks and different marketing/branding structures, they are perceived as very different in by the general population. 2.
TOYOTA:
Brand Core/Essence - Economical Reliability Brand Personality - Japanese Mfg, Reliable, Affordable Emotional Benefits - Sense of Confidence
Product Benefits - Affordable, Comfortable, Reliable, Longevity, Fuel Efficient Product Attributes - smaller, less frills, fuelefficient
LEXUS:
Brand Core/Essence - Luxury Driving Brand Personality - Upscale, Nice Interior Amenities, Top Quality Emotional Benefits - Priveleged or Wealthy
Product Benefits - More Comfortable, Improve Driving Experience Product Attributes - V6, Front Wheel Drive, Ride Quality, Quiet, Interior Amenities
3. According to a variety of sources, the mechanical design and structure of the comparable Toyota and Lexis brands are very similar. Typically most Toyota’s are 4-cylinder, where Lexus are 6 or 8 cylinder. However, there are some versions of the Toyota’s that are available in 6-cylinder. The Toyota assemblies can be replicated and built all most anywhere in the world. Toyota has plants in France, Turkey and the Philippines, to name a few. Until 2009, all Lexus were built in Japan and shipped to different countries, so they could control the quality of the engine which is built to be quieter. Currently only two plants exist outside of Japan for Lexus. One is Ontario, Canada and the other is in Georgetown, KS. Lexus are built for comfort, so offer more leg room along with nicer interiors and amenities such as heated/vented seats, back-up sonar, alloy wheels, parking assistance and very high-tech navigation systems. Another factor in the Lexus brand, is how it is sold. The purchasing experience is taken to a higher level with customers being given a 5-star treatment while in the showroom, and afterward. Although these two brands are created by the same company, they have been branded to embrace different consumer needs and budgets. They ensure that Toyota is able to expand their market share by presenting options based on a consumers budget and desired experience.
4. The Toyota brand is valued at $42.1 billion, according to Forbes in an article published May 2016. The brand consistently finishes in the top spot among auto brands according to Millward Brown Optimor, a unit of Kantar, advertising agency WPP's data investment management unit. Essentially, the brand is perceived as high-quality products that are innovative and trustworthy. Lexus is the fastest growing brand in the luxury category. Their current brand value, according to Forbes, is $9 billion and they are ranked #63 in the world based on 2016 rankings. Global volume for Lexus was up 12% in 2015 to 652,000 cars sold. Sales were up 20% in Europe and 11% in North America. which represents roughly two-thirds of the brand's sales. Lexus vehicles were deemed the most dependable new cars the past five years in the annual study conducted by J.D. Power & Associates. Although both brands are highly recognized, technically the Toyota brand is stronger due to it’s higher dollar value. As mentioned earlier, they are targeted to different types of consumers based on financial and emotional needs.
5. On-line Sources http://www.bloomberg.com/news/articles/2015-11-03/made-in-china-lexus-could-take-decades-astoyota-frets-quality
http://www.theglobeandmail.com/report-on-business/canadian-lexus-plant-gets-intogear/article18431405/
http://www.autonews.com/article/20140521/RETAIL03/140529982/toyota-remains-most-valuable-carbrand-worldwide-study-says
https://en.wikipedia.org/wiki/Toyota https://en.wikipedia.org/wiki/Lexus_ES http://www.forbes.com/sites/dalebuss/2014/10/16/toyota-leads-best-global-brands-but-audi-vwnissan-rise-most/#58a84d75d524 http://www.car-brand-names.com/toyota-logo/
