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Essay / Research Paper Abstract
This 13 page paper examines Toyotas luxury brand Lexus, looking for a background to the brand and its development, and then assessing its position in 2010 assessing the external and internal environment before making strategic recommendations. The bibliography cites 15 sources.
Page Count:
13 pages (~225 words per page)
File: TS14_TElexus1.rtf
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Unformatted sample text from the term paper:
Recommendations 16 1. Introduction Lexus is a brand that is associated with luxury cars, however, unlike many of the firms
it competes with, such as Mercedes, BMW and Jaguar, it does not have the same level of history or provenance, but it is still a very successful brand. To assess
how and why it has been successful and consider the way it may continue the firm, its environment and the way that it competes can be assessed. 2. Background to
the Firm Lexus is a brand developed by Toyota with the specific aim of targeting the luxury market. The history of the brand starts in 1983 with the initiation of
the FI1 project (Long, 2001). Eiji Toyoda, the chairman of Toyota wanted to find a way in which they could challenge the worlds best car manufacturers, the result of this
project was a luxury sedan; the Lexus LS 400, which initially had the aim of expanding the product line for Toyota, in order to give it a placement in the
premium segment. The idea if entering new segments under the Toyota brand, former projects undertaken in a similar manner included the way that the sports Toyota Supra and the premium
Toyota Cressida were developed. The development of the luxury segment was also attractive due to the voluntary export restraints that the Japanese government had agreed to limiting mass market exports
(Mahler, 2004). As part of the concept and product development strategy the researchers from Toyota made a visit United States in 1985, where they undertook extensive market research on
consumers that would purchase luxury cars. It was during this research that they realized in order for Toyota to be successful in this segment, there were significant potential benefits in
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