Cayenne launch strategy wins over the experts. Porsche to be awarded the German Marketing Prize for 2004.
Dr. Ing. h.c. F. Porsche AG, Stuttgart, is set to receive another major award. On November 8, 2004, in Hamburg, the Deutsche Marketing-Verband will present the Stuttgart car manufacturer with the German Marketing Prize, the highest honor in Germany for outstanding achievement in marketing. "The amazing turnaround in Porsche's economic fortunes is thanks in no small part to consistent marketing. The adoption of a global brand management strategy has helped the company revitalize the brand and focus on achieving long-term business objectives. By concentrating on the core brand values, Porsche managed to successfully enter a new market segment with the sporty off-road Cayenne", explains Dr. Rüdiger Kapitza, chairman of jury. Porsche joins an illustrious group of 32 champions who have been honored by the Deutsche Marketing-Verband since 1973, among them household names such as Beiersdorf, Henkel, Miele and, most recently, Bild.
Porsche is today the world's smallest yet most profitable independent car manufacturer. The company has continuously improved its financial position over the past decade. In doing so, Porsche has defined new standards for profitability and successful enterprise management that have attracted attention even outside the automotive sector. This success is due not least to Porsche's excellent brand image. The jurors felt that by cultivating this image, Porsche has been able to go its own - sometimes unconventional - way over the years, thus lending the brand its individuality and exclusivity. The jurors also acknowledged the fact that despite being an exclusive manufacturer, Porsche has managed to consolidate broad social acceptance and high levels of brand sympathy.
The strength of the Porsche brand stems from the long tradition of sports car construction that has been maintained consistently and independently over the years. The mainstays of the brand's success are the core brand values such as performance, sportiness, exclusivity, and unique design. Porsche AG pursues a growth-driven, strongly focused brand policy on this basis. This incorporates a consistent and exclusive model policy. For many years the product portfolio consisted of just the Porsche 911 and Porsche Boxster model ranges. Since the successful market launch of the sporty off-road Cayenne in 2002, Porsche has managed to transfer the core brand values to a completely new vehicle in a segment that was previously dominated by other manufacturers. Today, the Cayenne is considered to be "the sports car of the off-road vehicle segment" and - as borne out in numerous market research studies - has been accepted as a "true Porsche". With around 40,000 vehicles sold in the 2003/2004 financial year, the Cayenne has proven to be a major driving force for Porsche AG.
Dr. Wendelin Wiedeking, Chairman of the board of management of Porsche AG: "This award shows yet again how a coherent and consistent marketing concept is far more important than the size of the marketing budget. Even in marketing it sometimes pays to buck the latest theories, methods, and trends and instead rely on common sense."
The award ceremony will be held on November 8, 2004, in Hamburg as part of German Marketing Day.
Dr. Ing. h.c. F. Porsche AG, Stuttgart, is set to receive another major award. On November 8, 2004, in Hamburg, the Deutsche Marketing-Verband will present the Stuttgart car manufacturer with the German Marketing Prize, the highest honor in Germany for outstanding achievement in marketing. "The amazing turnaround in Porsche's economic fortunes is thanks in no small part to consistent marketing. The adoption of a global brand management strategy has helped the company revitalize the brand and focus on achieving long-term business objectives. By concentrating on the core brand values, Porsche managed to successfully enter a new market segment with the sporty off-road Cayenne", explains Dr. Rüdiger Kapitza, chairman of jury. Porsche joins an illustrious group of 32 champions who have been honored by the Deutsche Marketing-Verband since 1973, among them household names such as Beiersdorf, Henkel, Miele and, most recently, Bild.
Porsche is today the world's smallest yet most profitable independent car manufacturer. The company has continuously improved its financial position over the past decade. In doing so, Porsche has defined new standards for profitability and successful enterprise management that have attracted attention even outside the automotive sector. This success is due not least to Porsche's excellent brand image. The jurors felt that by cultivating this image, Porsche has been able to go its own - sometimes unconventional - way over the years, thus lending the brand its individuality and exclusivity. The jurors also acknowledged the fact that despite being an exclusive manufacturer, Porsche has managed to consolidate broad social acceptance and high levels of brand sympathy.
The strength of the Porsche brand stems from the long tradition of sports car construction that has been maintained consistently and independently over the years. The mainstays of the brand's success are the core brand values such as performance, sportiness, exclusivity, and unique design. Porsche AG pursues a growth-driven, strongly focused brand policy on this basis. This incorporates a consistent and exclusive model policy. For many years the product portfolio consisted of just the Porsche 911 and Porsche Boxster model ranges. Since the successful market launch of the sporty off-road Cayenne in 2002, Porsche has managed to transfer the core brand values to a completely new vehicle in a segment that was previously dominated by other manufacturers. Today, the Cayenne is considered to be "the sports car of the off-road vehicle segment" and - as borne out in numerous market research studies - has been accepted as a "true Porsche". With around 40,000 vehicles sold in the 2003/2004 financial year, the Cayenne has proven to be a major driving force for Porsche AG.
Dr. Wendelin Wiedeking, Chairman of the board of management of Porsche AG: "This award shows yet again how a coherent and consistent marketing concept is far more important than the size of the marketing budget. Even in marketing it sometimes pays to buck the latest theories, methods, and trends and instead rely on common sense."
The award ceremony will be held on November 8, 2004, in Hamburg as part of German Marketing Day.
