International Marketing Programme of Lexus: A Business Report

Global marketing
management

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................4
ESSAY.............................................................................................................................................4
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11
Online references...........................................................................................................................11

INTRODUCTION
Global marketing management is considered as key approach which helps in maintaining
marketing operations of an international business in a precise manner (Agarwal, Vaschilko, and
Loukoianova, 2018). In the recent times, due to increased competition, all major companies in
the international marketplace focus on marketing management to perform sales operations in
order to increase sales turnover and revenue (Global marketing management and its dimensions,
2022). In the global business marketing management, there is a key requirement of professional
and stable management in order to perform key operations related to marketing in a precise and
systematic manner. This project will include a brief analysis of internal environment and cover
its dimensions with a focus on global company. This essay will also create an in depth analysis
of standardisation and customisation decisions with relation to marketing mix. The project will
also cover key marketing theories and models which are helpful in increasing competitive
strength of business. In this essay example of Lexus company is taken into consideration which
is a multinational luxury car manufacturing company (Lexus car company information,
2022). The Lexus company is a major division of auto-mobile company Toyota. The company
was founded in the year 1989 and its headquarters are situated in Nagoya, Japan.
Illustration 1: Lexus company logo

MAIN BODY
ESSAY
The Lexus company is known for its world class luxury cars which are provided to
different customers. In the marketplace, the company is known for its value and customer service
approach. The main role of management of Lexus is to provide key assurance to major customers
on regular basis regarding the service. Another key objective of higher authorities of Lexus
company is to focus on deciding best prices for its cars in the international marketplace. The
pricing strategies play a major role in providing key solutions related to product demand and
supply (Pricing strategy of Lexus, 2022). It is also one of the major role of marketing
management and financial management of Lexus company to formulate affordable and
reasonable prices to customers. Lexus company identifies its competitors and their pricing
(Competitors of Lexus, 2022). After analysing the price of competitors, the company focus on
keeping the prices close to competitors in order to lead the marketplace (Couto, and Ferreira,
2017). The super high prices of Lexus products largely impact on its sales figures in a negative
manner. Marketing prices of other competitors like Audi, Jaguar, Mercedes and BMW impact
on pricing of Lexus.
The market situation is also one of the major factors which impact upon the pricing of
Lexus. It is major task of marketing management of a company to deliver best practices related
to pricing on the basis of market situation. Recently, due to COVID-19, the auto-mobile industry
has faced a major crisis. Therefore, management authorities of Lexus company developed a
pricing strategy on the basis of COVID-19 (Auto-mobile sector and COVID-19, 2022). The super
low prices were decided by company for its cars to attract customers in the COVID-19. Market
penetration is considered as key approach which is helpful in measuring how much a product or
service is being used by customers as compared to total estimated market for the service or
product (Deepak, and Jeyakumar, 2019). The Lexus company has made 6.7 million vehicles and
its employees are around 3,28,000. In the year 2022, the projected revenue of Lexus company is
USD 22.53 Billion which is a major figure (Lexus car company information, 2022). Lexus
company use the customised pricing strategy in order to dominate the marketplace. The price
related to products and services of Lexus are decided on the basis of contemporary business
environment.