The Marketing Mix: Products and Brands



The Marketing Mix: Products and Brands

Introduction

The marketing mix incorporates the products and brands n the current market. The positioning of the brand is of prime importance for the Porsche and the firm expansion plans regarding the product and services strengthen its relation with the customers. They are focusing on targeting the new customers from the market by expanding the business (Entrepreneurship -- Product and Service Development, 2013). The image of the company among the competitor is of prime importance of building the brand image. In this regard the impact of expansion upon the brand image of the company, the position of the company in the current market and the case examples regarding the product and the brand extension are depicted as the discussion proceeds.

Porsche Success in Extending the Brand to Cayenne (SUVs) and Panamera

Porsche current market hold is highly admirable as the 70% of the market is captured by the company. The customer's satisfaction and loyalty is retained by the image and popularity of the brand (Leong,, 2013). The company image is retained among the customers and the idea of extending the brands would be feasible for the company as to increase the productivity and acquire the marketing mix strategy as to strengthen the company image among the customers. The product development strategy would be feasible as to extend the brands of the company. The support of the customers leads towards the purchase of the new entrant in the market.

The core competencies of the Porsche are the diversification in the industry. They have focused on the competitive advantage and serving the new principles of the target market. They target their customers according to the same income level, same age and the future and current segmentation for the product extension can be catered by the quantitative method of SWOT analysis that provides the clear overview regarding the current and future consumer segmentation of the firm.

Porsche's brand image towards the Extension of the Family Vehicles

Porsche has a strong brand relationship and because of the brand relationship they have market the new customers fro its brand extension. They have to extend the market by launching the motor bike and the trucks and develop the new consumer market by building strategies for product, place price and promotion. They have the future assessment of the future business as the current and future strategies of the product can be depicted with the help of identifying the strengths, weakness, opportunities and threats of the brand for the current market.

The brand image of the company is strengthening and the products as the brand equity is important of the extension of the brand. The current principles of the consumers that have a high impact upon the consumers as the brand image had a string impact as when the launch a product such as sports car it has a high impact upon the customers as there is fuel efficiency in the sports cars. The brand image is highly responsible for the ...