Lexus Marketing

MKT203

MARKETING MIX MANAGEMENT

END-OF-COURSE ASSESSMENT

TABLE OF CONTENTS

Question 1.........................................................................................………..…01

Question 2..........................................................................................……...…..03

Question 3.............................................................................................……......05

Question 1

In marketing, there are several product levels that company need to look at before setting out to market their products. These levels can be broken down into the following, the core benefits, the basic product, expected product and augmented product. Using Lexus as an example, we will look its product level definitions.

Core Benefits

When customers want to buy a Lexus branded car, they are essentially buying a transportation device. Lexus, being designed and manufactured by Japanese car maker Toyota who had started car manufacturing in 1936, with their years of experiences would have no problem fulfilling this core benefit, which is to provide a transportation device to the buyer. This is often refer to as the core benefit, or the first level of the product.

Basic Product

On the next level, Lexus will need to look at the basic benefits that its customers would look at while buying their products. At this level, basic features of the product, like the engine, car seats, storage space, navigational systems, sound systems and interior cabin are taken into account. Lexus, being a premium brand, places a lot of emphasis on these features to differentiate themselves from other brands of automotives.

Expected Product

At the third level, Lexus would need to prepare attributes and conditions that the customers choosing a car would normally expect from Lexus. Customers would expect high quality leather seats, quiet engine operation, superior sound system among others from the Lexus branded car that they buy. Lexus on the other hand,...