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Lexus Asia Forum. May 23, 2002. 1. State of Lexus USA. In a word: EXCELLENT Milestones: #1 Luxury Nameplate in U.S. two years in a row Lexus vs. the competition. Sales by model YTD LS 8,290 GS 5,425 ES 22,654 IS 5,873 SC 5,491 RX 24,178 LX 2,806. State of Lexus USA.
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Lexus Asia Forum May 23, 2002 1
State of Lexus USA In a word: EXCELLENT Milestones: #1 Luxury Nameplate in U.S. two years in a row • Lexus vs. the competition • Sales by model YTD • LS 8,290 • GS 5,425 • ES 22,654 • IS 5,873 • SC 5,491 • RX 24,178 • LX 2,806
State of Lexus USA GX Launch November 2002
State of Lexus USA • J.D. Power and Associates Awards
Lexus ‘Minority Report’ Media Coverage... 82 MILLION MEDIA IMPRESSIONS! “Lexus Minority Report sports car stands out as the MOST STRIKING CONCEPT AT THE SHOW!…” - New York Times “This is the kind of car you dream about; the kind of car you lust for…” - Denver First News (NBC) “Those Lexus people continue to surprise us…” - Motor Trend Minority Report Card Gets “A” for Ads - Adweek “This futuristic Lexus movie car is arguably the MOST EXOTIC four-wheel vehicle at the show.” - Popular Mechanics Lexus ‘Minority Report’ Concept…Another Reason to Envy Tom Cruise - NBC.com Spielberg’s ‘Minority Report’ Cruises Lexus into Leading Role - Ohio News Sun Lexus Cast by Spielberg - CNN.com Tom Cruise will forsake Porsche to pilot this specialty Lexus in an upcoming Spielberg flick - Autoweek Going to the Big Screen…Lexus in 2054 - Ft. Lauderdale Auto Show Program
Minority Report Release Dates • USA June 21 • AUSTRALIA June 20 • HONG KONG July 4 • INDIA August 2 • INDONESIA July 10 • JAPAN December 7 • MALAYSIA July 4 • NEW ZEALAND June 27 • PHILIPPINES June 26 • SINGAPORE July 4 • SOUTH KOREA July 26 • TAIWAN June 29 • THAILAND July 5
What is it? An effort to gain clarity, focus, and competitive advantage at a time of great strength.
How Extensive Is It? It will affect everything Lexus does internally and externally. It will influence every touchpoint, creating a mantra for all Lexus employees and the brand as a whole.
Or Our Promise The Passionate Pursuit of Perfection
Where We Began… • Since launch of Lexus the brand had lost some of its focus • Quality/service gap closing between Lexus and competitors • Lexus seeking a way to deepen consumers’ appreciation for the brand • The brand needs to establish a stronger emotional connection • Stake out a clearer positioning in consumers’ minds – explore the possibility of “owning luxury”
Where We Started • Dealers: There is a strong yearning for help in forging stronger emotional bonds with customers • Culture: In the world of luxury a new spirit and new meanings of luxury are evolving • Customers: Lexus is already seen as a younger brand that embodies this new luxury spirit Lexus can leverage these cultural trends and existing associations to clarify its position in the market as the brand that does luxury best.
A Six-Month Process • Dealer Roundtables (4 roundtables, 47 dealerships) • Dealership Visits (32 dealerships, 250+ interviews) • Management Interviews (15) • Operational Team Interviews (32) • Expert Panel Interviews (10) • Consumer Research (12 small groups: NY, LA, Minneapolis) • Dealer Ideation Session (43) • Steering Committee Ideation Session (18) • Competitive Research
Priorities of Affluents Are Changing Being interesting • Eclectic & textured • Pursuing passions • Being intelligent • Appreciating the moment • Being introspective • Personal growth Being grounded • Family focused • Having balance • Embracing simplicity • Being resourceful • Comfort • Connecting with something larger Source: Affluence Study, 2001
And How They Experience Luxury Is Evolving Products Experiences Services “I’m free” “I’ve arrived” “I’m interesting” Source: Affluence Study, 2001
…All of Which Are Changing Consumer Expectations of Luxury Brands • Luxury is a “comfort break” in their lives • Luxury products and experiences should “nourish the spirit” as well as provide physical comfort • Luxury brands should save time, energy and stress • A luxury brand should offer activities, products and services that help bring people together • Anything that a luxury brand does to free consumers from marketplace worries is seen as very valuable Source: DYG Dialog, March 2002
Lexus Has a Firm Foundation of Substance • Products • QDR • Quiet • Comfort • Luxurious interior • Processes • Effortless • Stress-free • People • Respectful • Pampering • Good communicators Source: Dealership Interviews
And Is Also Beginning to Deliver Symbolically What Does Lexus Say About Me? To Others • I define my own success • This is for me • I’m self-confident • My opinion of myself doesn’t depend on others’ opinions of me • My priorities are different • I’m down-to-earth To Myself • I’m developing my potential • I’m simplifying • I experience life • I seek stillness in my busy world • I’m accessible • I’m real Source: Curious Company Research, 2002
Our Opportunity The substance and symbolism in the Lexus brand is already well aligned with the values that modern affluents are seeking from their luxury brands. The opportunity is for Lexus to gain a competitive advantage by more strongly asserting ownership of evolved luxury and its core values. Source: Curious Company Research, 2002
The Opportunity: Evolved Luxury We can stake out a new agenda in the luxury automotive category, and thereby set ourselves apart from traditional rivals with outdated values. In doing this, Lexus will define where luxury is today, not where it was yesterday.
