A recent radio commercial for Lexus says, “What do people think when they see you driving a Lexus? For one thing, they see you as successful.”
But do they really?
Almost everybody leases their cars today. So you don’t need a lot of money to drive Lexus, BMW, or Mercedes.
One selling point of luxury brands has always been the notion that other people will think more of you when they see you buying and using the brand.
But does this still hold today?
Anybody who has read The Millionaire Next Door Knows that most millionaires don’t drive status cars.
FW, a wealthy client who made his fortune in equipment leasing, drove a nice-looking Oldsmobile, which he loved — even though he could have driven a BMW.
Do you think you are really fooling anyone by driving around in your leased luxury car?
We drive a Nissan Maximia and Toyota Sienna mini-van — both bought new and paid for with cash.
To me, zero debt is a lot more impressive than big monthly lease, mortgage, and loan payments.
Should Lexus rewrite its copy to reflect today’s market perception? Or are they still right on target with their assumptions about status?
[Via Bob Bly]
You don't learn how to cook from a cookbook
Marketing to stereotypes
Lexus it would seem is marketing to the wrong people. But to me, the way Lexus and many corporations target their advertising, isn't necessarily to the target audience, ie. wealthy individuals who can afford to purchase luxury cars, but to the stereotype of the wealthy individual and anybody who wants to fill that category. "If I own a Lexus, I must be wealthy, so I'll go buy one." That seems to be the mentality of many people today. Truly wealthy individuals recognize the importance of actually OWNING their car and understand the importance of frugality, thus feeling completely satisfied owning a cheaper reliable car.