Connotation Impromptu Essay Example | Topics and Well Written Essays - 250 words

Connotation Impromptu - Essay Example The Lexus target market ranges for people around the age of forty, with a strong household salary. The luxury market back in 1989 had Lexus brands sell around 25,000 cars in hope of achieving a target of 65,000 cars. With the main rivals of Lexus being brands such as Mercedes Benz, the target market of majority of its brands is well-off customers (Anurit, Newman, And Chansarkar, 2006, p. 15). The choice of target market made by Ford while manufacturing the escort brand revolves around the model of product life sequence. This choice has an impact on its advertising and pricing strategies through marketing mix (University of southern California, 2010). Since Ford Escort is a commodity model of this specific industry, its price and mode of promotion is defined by the targeted market, breaking down the promotion procedures into stages. These stages have been used by Ford to realize the standard income made the youthful market and be able to set prices for the escort model. The choice of target market affected the pricing and advertising strategies of the Lexus vehicle brands through product positioning. Unlike Ford, Lexus fixed its models right before customers who could find them affordable, instead of directly looking the customers. Lexus believed their brand would sell in terms of benefits that can be offered to customers through new ways. This way, Lexus could always be affiliated with luxury living, creating a standard means of living able to be felt and understood by its customers. The image of Ford has been tarnished after the economic downturn began in the European market. As a result, its market will only stand to widen should the company make changes in its financial structure. Ford Escort buyers mainly comprise of youthful individuals without a strong household salary. Therefore, changes in the economy will definitely affect their choice of purchasing the brand,