Lotus Esprit Turbo
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The American market for automobiles is an example of a market which has avoided the traditional lifecycle and which is comprised of several niche markets, each of which has a different demand curve. A cursory consideration of automobiles suggests that they should be a prime example of a commodity: all automobiles can move goods and people from one point to another, and all use essentially the same technology. But the automobile market has not deteriorated to a commodity state, where products are differentiated solely on price, but continues to be a highly segmented market with entrants from basic economy models to the highly sophisticated (and very expensive) sports and luxury models. There are high levels of profits to be made at the upper end of the car market, and consumers in this segment are interested in appearance and performance, although the vehicle may never be run on a racetrack. This research considers one such automobile, the Lotus Esprit Turbo, the company which manufactures it, and the marketing strategy behind this highly successful product.Lotus currently employs 985 people, had 1994 profits of $3.2 million on sales of $81.3 million, and produced only 710 cars during 1994 (up from 320 in 1993). The company's recent history has been marked by upheaval, as Lotus was acquired by General Motors, then sold to Bugatti in 1993, then sold by Bugatti to a British investment consortium in 1995 (at a $10 million profit to Bugatti
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ot targeted toward consumers interested in a touring car. Instead, it is intended for those consumers who want a high-performance vehicle, and in that area, the Esprit excels. The 1995 model features a dual overhead cam turbocharged and intercooled 16-valve four-cylinder 133 cubic inch engine seated in an aluminum block. The aluminum block is significant in cars of this class because it helps reduce weight, which improves performance.
From this powerplant, the Lotus is able to derive 300 horsepower at 6400rpm, and 277 pounds of torque at 4100 rpm. It can go from 0 to 60 miles per hour in 4.4 seconds, and from 0 to 150 miles per hour in 40 seconds, with a top speed of 162 miles per hour. Despite these impressive performance figures, however, the Esprit also boasts a respectable 17 miles per gallon in city driving, and 27 miles per gallon on the highway, well above the 13 and 15 miles per gallon (respectively) for the Ferrari F355. The Lotus does not have the highest top speed in its class (a distinction held by the Ferrari), nor is it the fastest at attaining 60 or 150 miles per hour (the Porsche wins here), but it is a consistently impressive performer in each of the relevant categories.
The car has not undergone signif
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Approximate Word count = 2571
Approximate Pages = 10 (250 words per page)
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