Business Strategic Management: History of Porsche (BUS402)

Business strategic management: Porsche strategic plan
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Business strategic management: Porsche strategic plan
Having a clear strategic plan is of great importance in helping a business organization to increase sales and attain a sustainable competitive advantage (Abraham, 2012). From the perspective of an executive with Porsche AG, this paper provides a detailed strategic plan to grow this multinational firm over the coming 3 years. The history of Porsche AG is described in addition to the company’s 4 Ps of marketing mix. The firm’s current situation is discussed and an assessment of its financial performance is provided. Furthermore, this paper provides a detailed analysis of Porsche’s SWOT analysis, and the recommended organizational structure for Porsche is described.
History of Porsche
Porsche is a well-known car maker that has mainly specialized in the production of sports cars. Porsche has been successful in manufacturing sports cars that are renowned for reliability, quality, as well as performance. Most of all, this German car manufacturer is famous for making prestigious automobiles that could be utilized for daily driving (Porsche, 2016). This firm was founded in the year 1931 by Ferdinand Porsche. Ferdinand Porsche was initially Volkswagen’s engineer, and the first Porsche car produced was actually made from the machinery that made Volkswagen Beetle cars (Hall-Geisler, 2015). Porsche 64 was the name of the first Porsche car produced by the firm, which was in the year 1938. This vehicle gained so much popularity and fame in Germany and other parts of Europe, and this marked the beginning of the successful time in Porsche history (Hall-Geisler, 2015).
As a result of the impending World War 2 during the 1940s, Porsche developed a number of designs for heavy tanks and ceased its car production since the Volkswagen factory it was using was being razed. Even so, Porsche returned to car manufacturing in 1947 and developed a Grand Prix racing car in Austria (Porsche, 2016). Ferdinand Porsche died in the year 1951 and Ferry Porsche, his son, took over the firm. In 1963 at the Frankfurt International Automobile Show, the world renowned Porsche 911 was released featuring a rear air cool engine concept. The company went public in 1972, and introduced Porsche 924 and 928 which were produced in Stuttgart. The company’s 956 model was the most successful sports car in the ‘80s. In 1983 at Detroit Motor Show, the company released the Porsche Boxter model (Porsche, 2016). At the moment, the firm is owned by Volkswagen AG. It focuses in the production of supercars, hypercars, sports utility vehicles, sedans, as well as high-performance sports cars.
Porsche’s 4 Ps
Product: in the marketing mix of Porsche, this is the strongest P. Porsche is today one of the prominent brands in the world’s automobile market. The company produces an extensive range of automobiles that are sold not just in the European and North American markets, but also in the African, Australian, South American and Asian markets. These car products include sports cars such as Porsche Cayman introduced in 2006, Porsche 911 introduced in 1963, and Porsche Boxte...