Creating a brand is one of key things that each company should create and fight for. Creating brand and strong personality is a piece of the chain that one company can’t live without. This is a case where we are going to research and discuss the brand image and maintenance of the brand of Porsche Company. Porsche has well established brand image of a company that produces sports cars with high quality. This brand image was put on test when Porsche Cayenne was realized.
Branding is about creating differences. This means that each company should strive to create a product which characteristics and benefits differ a lot from other products in same category, or better said to create a benefit that is characteristic only for our product or service. Porsche Company has done a lot and has succeeded in creating a strong brand. Core values of Porsche brand are: Intelligent technology, Innovation and Tradition, Design, and Performance. Upon these values the products of Porsche are made and their characteristics are based on it.
Now let’s see the brand triangle of Porsche. First we will look the functional characteristics of Porsche cars. Functional characteristics of Porsche cars are: Excellent road handling, Design, advanced technology, and speed. These functional characteristics associate emotional values in customers. The design of Porsche car associate a feeling of being unique and special, the innovative technology associate a feeling of being contemporary and modern, speed evoke a feeling of excitement and adrenaline, while excellent road handling associates a feeling of safety. From all these Porsche promises to its customers an exciting experience while driving. These external promises should be aliened internally in order desired brand promise to be delivered.
One of the biggest source for brand equity for Porsche is that it is a world known luxury car brand with premium pricing and high quality. Also other sources are the characteristic of Porsche cars such as: specific design, innovative performances.
Porsche Cayenne perfectly fits the market conditions in the time it was realized. In that time the sales of luxury sports cars were dropping significantly, people would rather buy a car that will fit for the whole family than car that is for pleasure and excitement and doesn’t gather the whole family in it. In times of crises car for the whole family was better choice than sport car with two seats. From the aspect of everyday living Cayenne is better choice and is more practical. On the other side Porsche has a tradition of making cars that are for excitement and have nothing to do with practicality.
In terms of trends I have found out that actually Porsche is the first car company that has made a luxury SUV. Here comes to surface the innovative nature of Porsche.
From the case study we can see that the hard core Porsche lovers oppose to the idea of Porsche making SUV, they dislike the idea that Porsche is breaking its tradition of making sport cars. On the other side from the chart provided we can see that sales of Porsche Cayenne are very high and that Porsche is the only car from Porsche cars which sales were in plus in Western Europe during the third quarter in the years 2008 and 2009.
Porsche buyers, in some ways, are marketer’s dream. They are wealthy, well educated and predominantly male. Target audiences of Porsche are usually males, with high income, executives or managers with college degree.
Here comes the question whether the Porsche Cayenne will have the same target audience. Traditional Porsche customer vs. Porsche Cayenne customer: the needs of an individual who has the purchasing power to obtain a Porsche are generally externally...