Toyota Motor Corporation's Lexus Brand: Marketing Assignment

Cars play a major role in almost every action movie, rivaling the star power of the actors themselves. Whether it be a high speed chase or an intense race, the actor’s choice of car is usually an Audi, BMW, or Ferrari. These scenes showcase the car’s speed, sleek design and fancy features, allowing the viewer to imagine themselves in the vehicle. While almost everyone at some point in their life dreams of owning such a car, it is simply not a reality for most people. Toyota’s commercial, “The Longest Chase,” attempts to change the perception the vast majority of car consumers have of the Prius. Once a vehicle known only for being environmentally friendly and excellent gas mileage, is now the unlikely subject of a high speed chase. Toyota highlighted features the Prius is known for, namely gas mileage, while marketing speed and luxury. While creative, the commercial does not fulfill its purpose due to the seemingly offensive emotional uses as well as its duplicitous ethical appeals.

Customer Value is ‘the performance characteristics, features and attributes, and any other aspects of goods and which customers are willing to give up resources’ (Robbins, Bergman, Stagg and Coulter, 2012). This broad definition highlights the fact that there are multiple aspects that contribute to create a sense of value within the customer.

Before i go further let me touch on a brief introduction on customer value, customer value can be defined as the difference between what a customer gets from a product and what he or

Lexus wants to make a car that will run a lifetime, and will cause minimal problems, and run like that Aston Martin you cannot afford. Lexus also strives on wonderful customer service. They want the best for their customers and will strive for full and complete customer satisfaction.

Having customer value is very important. Customer value is determined by customers’ perception of what they get in exchange for what they have to give up. In order to meet the buyer’s expectations, the salesperson must be fully honest and lead the buyers at their best interests and needs.

Then the report describes the theoretical aspects of the study in the literature review. This section mainly consists of brief description about different important topics about customer value marketing.

For more than 50 years, Toyota Motor Corporation has been one of the world’s leading manufacturers of motor vehicles in the United States. It was born a Japanese company in 1935 and came to America in 1957. Now headquartered in Toyota City, Japan, it employs more than 300 thousand employees globally (Toyota Motor Corporation Company Profile, 2012). In addition Toyota is a global marketing organization. It strategically operates primarily through Japan, Asia, Europe, and North America; but its vehicles are sold in more than 170 countries and regions across the globe (Toyota Motor Corporation Company Profile, 2012). The Toyota brand is traditionally defined by brand attributes such as global leadership, innovation,

The categories of value creation on which BestValue currently relies come from the “Communicating Value in the Sales Message” section of the chapter and include product quality, quality of the buyer-seller relationship (trust), service quality, salesperson professionalism, corporate reputation, application of technology, and price. BestValue Computers is providing quality products in an atmosphere of trust with a sales representative who has developed high-quality relationships with her clients. In addition, BestValue provides a variety of technology products with local service at reasonable prices. Finally, the success of Leroy’s business is an indicator that BestValue has developed a highly respected reputation among his existing and

To compete now a day’s competitive environment companies have to take a look on customer satisfaction as a high priority because they now a days demands improved products in quality, cost and reliability. And these are the key factors on which the organization must focus on and to consider those key factors, organizations must adopt new approaches of management to gain the satisfaction of customer. We can examine every item in the figure shown below.

Good customer service is the foundation of a cohesive, well run business; good customer service is tailored around the needs and wants of the consumer. Providing a level of service like this means paying attention to the customers needs and wants and delivering the product and service in a manner that makes ordering procedure as simple as it can be, doing this acts as a catalyst for profit in that it entices customers to return meaning they will know your product and save money in marketing and advertising (Hurlbert W., 2007) and spread the brand awareness and attract new customers through friends.

This report aims to find out the relationship between customer value and marketing. In particular, it focuses on the necessity of marketing and the composition of customer value, research on the connection between these two concepts. In particular, it indicates four elements of a market, which are price, place, products, and promotion (4Ps). The other vital part of a market is customer value, it has been divided into instrumental value, hedonic value, expressive value and cost value. Customer value and marketing connect to each other through the supplier help people do better- buying decision and improve products through the customer value.

4. Technological environment has also increase the sales of the Prius. With its advance technology and many features has impressed the world of the technology buff as well as the modern customer who wants practical but affordable. (Kotler & Armstrong, Principles of Marketing, 2010) Toyota is aware that the technology wave is a spectacular movement that shapes our marketing environment today and uses this to their advantage by incorporating affordable luxury in the Toyota Prius.

ANSWER:MARKETING AND CUSTOMER VALUE Marketing involves satisfying consumers’ needs and wants. The task of any business is to deliver customer value at a profit.

Osterwalder and Pigneur (2010) describe value propositions as the “bundle of products and services that create value for a specific customer segment.” (22) This building block of a business model is essential in that it is the reason why consumers value one company over another. Value Propositions can also help organizations create customer loyalty and retention. With intense competition in markets, value propositions are an important part of a business model because it addresses competition and attempts to set the firm apart from the other choices presented to its customer base.

A. Wal-Mart realized through third party studies and internal research that the Chinese customer were significantly more cost-sensitive than those in other countries and that there existed a strong, established culture of frequently shopping around to find the absolute lowest prices. Through these studies, Wal-Mart also realized that customer satisfaction level greatly influenced customer loyalty in China. The greatest determinant of this satisfaction was made up of perceived value. The perceived value is composed of three sub factors: (1) Product price, (2) Relative price and (3) Promotion. The other factors for customer satisfaction in descending order of its importance are Image,