Asked by Shashank Neelam on Sep 28, 2024
Verified
The text describes how Lexus was able to successfully enter the luxury sedan market despite the dominance of BMW.Which of the following best explains how Lexus accomplished this task?
A) Lexus targeted customers who were interested in high performance.
B) Lexus used full market coverage to lower BMW's market share.
C) Lexus focused on the market segment that valued reliability.
D) Lexus used advertising that attacked BMW's quality ratings.
Luxury Sedan Market
A segment of the automobile industry focused on producing and selling high-end sedans that offer superior comfort, performance, and status.
Market Segment
A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product and/or service needs.
- Acknowledge the competitive edges in a business setting.
- Master the concept and execution of segmentation, targeting, and positioning (STP) within marketing practices.
Verified Answer
BR
Bianca Romero32 minutes ago
Final Answer :
C
Explanation :
The text states that Lexus focused on the market segment that valued reliability, which allowed them to differentiate themselves from BMW and ultimately be successful in the luxury sedan market.
Learning Objectives
- Acknowledge the competitive edges in a business setting.
- Master the concept and execution of segmentation, targeting, and positioning (STP) within marketing practices.