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Essay / Research Paper Abstract
This 8 page paper compares the marketing strategies of these two companies. Specific topics include: target markets; relationship marketing; promotional strategies; marketing mix, such as product, promotion, distribution, selling, public relations, pricing strategy; a comparison of Web sites and the audience they seem to be targeting; international marketing and recommendations for Mercedes to compete better with Lexus. Bibliography lists 12 sources.
Page Count:
8 pages (~225 words per page)
File: MM12_PGmrlx.rtf
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Unformatted sample text from the term paper:
at the pan-European tournament (Revolution, 2002). In another marketing campaign during for the Lexus GS series the same year, the company targeted the affluent 40-and-under group through advertorials in G+Js
Fast Company and Inc. magazines (Geist, 2002). These two-page spreads featured the GS 430 and another model because the demographics revealed that members of this group are young and upscale
(Geist, 2002). In one of Mercedes-Benz campaigns, they targeted young, affluent blacks (Washington, 2001). The company also used the radio for the campaign because it was found that radio has
a 96 percent penetration rate in the target audience (Washington, 2001). In other campaigns, Mercedes-Benz targets just about the same market as does Lexus - younger and affluent, although some
campaigns target the under 50 group. In fact, the average age of the owners of the Mercedes-Benz E-Class is 45 (Halliday 2002). The average age of the Lexus cars is
43 (Sawyers, 2002). Although Lexus has marketing campaigns specifically to attract the younger group, the average age of their customers is in the same range as Mercedes-Benz. Another market niche
both companies attempt to gain is the move-up group, these are people who move into one of these luxury models by beginning with pre-owned cars and, in the future, they
move up to new models (Sawyers, 2002). Customers for both cars have an average household income of at least $98,000 and nearly 80 percent of buyers have college degrees (Sawyers,
2002). So, the target market for both models is high income and educated. Lexus tends to target a younger buyer. In relationship marketing, marketers take the time to
establish relationships and then to maintain those relations in mutually beneficial relationships over the long term (Relationship Marketing, Inc., 2002). Relationship marketing is founded on the premise that each sale
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