People don’t buy cars with logic—they buy them with psychology.
Toyota tried to introduce Prado as a luxury SUV, but it didn’t fit the narrative Americans had about Toyota. Affordable, yes. Dependable, yes. Luxury, no.
Instead of fighting perception, Toyota rebranded. They created Lexus, carrying the same DNA as Prado, but marketed as a pure luxury brand. This time, it worked. Lexus became synonymous with class, prestige, and exclusivity.
The lesson? Positioning matters as much as product. If your market already puts you in a box, you may need to create a new brand to climb out of it.
Dr. Smith Ezenagu is the Chairman of Esso Group, a diversified conglomerate shaping real estate, finance, education, and media. Dr. Smith Ezenagu is recognized as a real estate & investment mogul, life coach, and private equity expert. He leads Esso Group and its subsidiaries: Esso Properties (awarded Nigeria’s Most Innovative Real Estate Company in 2024 and recognized as the best real estate company in Nigeria), Esso School of Enterprise (the leading institution equipping entrepreneurs), and Esso Capital (delivering smart, trusted financial solutions across Nigeria).