Consumer Buying Process of Porsche Panamera - Case Study Example

Introduction

If one takes a close look at the automobile industry, one will be able to see that there is a handful of brands that have a distinct image and are easily recognisable. Porsche is one of those brands: the fundamentals of its designs have not changed for numerous decades and it is this succession in appearance as well as excellent characteristics that attract the consumers. Recently Porsche has entered a new market: it produced a model that had four doors, yet was able to retain the spirit of a sports car that the company is famous for. One would make no mistake that this product marks a new chapter in the development of the company in question. This paper will examine the manner in which Porsche Panamera is marketed, examining each stage of Consumer Buying process.

Need recognition

To begin with, it may be essential to state that the issue of need recognition will be approached from the point of view developed by Abraham Maslow. Thus, the latter has developed a system which placed needs that a person can experience into five categories, forming a hierarchy (Goble, 2004). Thus, it is argued that a consumer acknowledges one's needs and tries to satisfy them with the help of a product. The most obvious need that is satisfied through buying a luxury car such as Porsche Panamera is, obvious, esteem. According to the system of values that is actively promoted in the society, people who own luxury cars are entitled to recognition of their accomplishment since one needs to accumulate the sufficient amount of money before being able to buy such a car. In other words, a consumer who is thinking about purchasing a Panamera may be striving to satisfy the need of esteem.

Nevertheless, there are other needs that are recognised and satisfied by this purchase as well. One would make no mistake that owning a luxury car significantly improves the status of a person in the society, thus allowing one to satisfy one's social needs. Indeed, Porsche Panamera enables a person to enter a higher level of the social hierarchy and be accepted as equal (Serafini, 2000). In spite of the fact that this is not an explicit requirement, but it is quite obvious. Another point that should be mentioned is that a person is able to facilitate social contacts easily if one possesses such a car. That is why it would not be an exaggeration to suggest that the purchase of Porsche Panamera should also be perceived as a way to satisfy one's social needs.

Finally, it may not be obvious at first, but safety needs also play an important role when it comes to decision making regarding the car in question. Indeed, it must be noted that Porsche Panamera is a vehicle that has excellent safety rating (Faragher 2005). In other words, when a person thinks about the safety on the road, one may be willing to have one’s car equipped with a number of various safety features of outstanding quality which is exactly the case of Porsche. Moreover, this company has very transparent as well as very effective recall policies which ensure the maximum safety of the vehicle. Therefore, while the primary focus of a buyer may be the desire to satisfy one’s esteem needs, the purchase of Porsche Panamera also satisfies other needs of a consumer.

Information search

When it comes to collecting the information about the product in question, one may be able to use numerous channels. The first and the most obvious one is the official web-site of Porsche. Thus, other than having one global web-site, the company also has websites that are dedicated to every particular country where the cars are sold. That is why it is more logical for a person from the UK to visit a web-site that corresponds to the UK division. One would make no mistake that there is plenty of information that can be obtained there, not only regarding Porsche Panamera. However, with the help of a few clicks, one will be able to access the section of the site that is dedicated to it and learn all the necessary information. It must be noted that people who are interested in technical specifications will find an abundance of information regarding this particular aspect while those who are mostly interested in design will learn a lot of what suits their interests.

The next source of information that should be considered includes mass media. As it has been mentioned in the beginning of the paper, Porsche is one of those companies that have a distinct personality. That is why it is quite obvious that new models that are produced by it will attract the attention of the media. In spite of the fact that it has been several years since the car was introduced, the media still covers any news regarding this model (Turow 2010). Thus, one is able to find plenty of information corning new hybrid models or changes that were introduces to the design. As a result, just by browsing the media one will be able to gain a sufficient amount of information about the model.

Lastly, one should also consider the role that social media play in this context. One would make no mistake pointing out that this particular source of information is different from the official web-site or mass media in many ways. Powell (2010) insists that when it comes to marketing social media should be recognised as a platform that can help spreading the word of mouth quite effectively. Indeed, one is able to subscribe to pages that are dedicated to Porsche Panamera and talk to the fans of this model or actual owners. As a result, it is possible to a person who considers buying this car to talk to the people who have the experience of owning it. This is the major way of learning the truthful information and may significantly influence the decision to buy it.

Evaluation of alternatives

It would not be an exaggeration to state that Porsche is not the only player when it comes to full-size luxury cars. That is why it is quite logical that there is a number of alternatives that a person can choose from. First of all, one may be interested in comparing it to its major competitor: BMW 7 Series. One would make no mistake pointing out that these two models share a considerable number of similarities. Thus, BMW is also known for its image of a sports car (Robson 2002). Nevertheless, when it comes to evaluation of luxury level, Porsche wins by a landslide. This can be easily confirmed by the prices of the models. Another point that should be mentioned is that BMW puts more emphasis on the aggressive design and is mostly suitable for younger consumers while Panamera appeals to the middle-aged ones.

The next alternative that should be considered it Mercedes S Class. Hill and Jones (2012) agree on the fact that this model should be regarded as the benchmark of the industry since it sets the standards and may be the first association that comes to the mind of a consumer when it comes to choosing a luxury car. Indeed, this higher status is manifested in many aspects. First of all, the price of a Mercedes is higher which might put off some buyers. Secondly, the design of it is more formal and more elegant. Finally, this model is bigger and has a more powerful engine. Nevertheless, one should keep in mind that Mercedes does not have the exclusive spirit of Porsche.

Finally, one should compare the model in question with Maserati Quattroporte. Speaking of the latter, one should keep in mind that this is a vehicle that was designed to surpass the standards of the luxury industry (Kaster 2011). That is why it should not have as a surprise that it costs significantly more than Porsche Panamera. As for the engine, it also belongs to a higher level: it is more powerful and requires less fuel per mile. The car is quite spacious, allowing five passengers to drive comfortably. The model is equipped with all wheel drive and automatic gearbox. It is quite understandable that this car surpasses Porsche Panamera is virtually every characteristic. Nevertheless, one should keep in mind that one may refrain from buying it because of a high price.

Purchase

Now it may be logical to turn to one of the most important stages, namely purchase. To begin with, one should point out that a person is expected to find a local dealership and buy a new car there. Hemmings (2005) holds that there is a wide network of dealerships in the very country where Porsche is present and it will not be a problem for a person to find one. In other words, a buyer should contact the official representatives, chose a model, including colour and various other specifications, sign a contract and enjoy the purchase. One would make no mistake suggesting that buying a new car may be more expensive than buying a used car. Nevertheless, this is an outstanding experience and some people may be willing to pay extra in order to enjoy it.

Nevertheless, one should also note that it is possible to buy a used car from an official dealership as well. If one accesses the web-site of the latter, one will be able to see that there is a section titled "Approved Pre-Owned Car". It is quite obvious that this may be the best variant for a person who is willing to buy a Panamera, but it also wants to save some money. In other words, this various may be suitable for those people who want to be sure that they buy a quality product, but would like to refrain from paying more than necessary. In this case, they will receive a car that is known to have been used, yet it is in great condition. The key point to stress here is that the purchase is made in the official dealership which means that all conditions that are provided by it are applied to the purchase.

Finally, one may also consider buying a used car from specialised websites. There are numerous services that one can find on the Internet that will present a list of used Porsche Panamera that one can choose from. It is obvious that in this case the warranty of the company does not apply. Nevertheless, one is able to save a considerable amount of money with this help of it. It must be noted that the people who sell these cars try to bring them to the best condition possible. As a result, one may be sure that it will be of a rather good quality. However, one will have to trade official warranty for this. As one can easily see, this may be the best variant for the people who are dreaming about this car and are more interesting in owning it rather than acquiring a new model that has not been owned by other people.

Post-purchase evaluation

When it comes to post-purchase evaluation, one should pay a considerable amount of attention to several points. First of all, it may be important to state that Porsche provides an official warranty on all new vehicles, genuine spare parts, and paint ("Warranty information" 2016). In other words, it is expected that in the first three years, a consumer will not experience any problems with the car because it was designed to provide one with high-quality performance during that period it. This means that if a person notices a trouble, one is able to contact an official dealership and have it fixed. However, the smaller is the number of problems that a person experiences, the higher is satisfaction and the chance of developing brand loyalty.

In addition to that, after a purchase, one is able to leave a review on various specialised sites. Indeed, it has been mentioned previously that there are services where a person is able to buy a used car. It is quite understandable that people who browse these services are interested in reading the reviews of the people. As a result, the post-purchase evaluation may be manifested in writing a genuine review about the car. Needless to say, that this review will be of high value for those people who are considering buying a car since they will be able to learn the experience of actual often. It is obvious that the better these reviews are, the more chance that they will buy such a car.

The third way to conduct a post-purchase evaluation is to write a similar review in the social media. The difference here lies in the fact that such communities are extremely popular and attract people who are simply interested in the model or like it and do not have any intention to buy it. All this leads to the situation when a review that is written by a person will be read by a considerable number of people and may acquire more influence. Moreover, the style of such a review will be different from those that are written for specialised websites. Thus, their tone will be more casual. Another point that should be mentioned is that a person may leave multiple reviews which would correlate with the experience of using the car. This is particularly important since it will show the progress and satisfaction of dissatisfaction with a car.

Recommendation

Porsche Panamera is a rather successful product that enjoys a considerable amount of popularity and loyalty. Nevertheless, there are several recommendations that may be given to enhancing the success of it. First of all, it is important for the company to maintain the perfect balance between the luxurious nature and the sports nature. Thus, Porsche was able to combine these two aspects and it should be recognised as the major competitive advantage. If it puts emphasis on the luxurious side, it will become more like Mercedes and if it puts emphasis on the sports side, it will resemble BMW. Therefore, it is the balance of these two qualities that attracts the consumers. In addition to that, it may also be helpful to increase the environmental performance of a car since that may become an effective competitive advantage, making Porsche Panamera not only fast and luxurious but also environmentally friendly.

Conclusion

Having examined all the points which were mentioned in the paragraphs above, one is able to come to the following conclusion: Porsche Panamera is an outstanding luxury car that is quite popular among the consumers. Indeed, this car allows people to satisfy their esteem needs, but it also helps them to improve their social status and feel safe on the road. There is a considerable amount of information about this model that can be obtained from the official web-site, mass media or social media. There are several alternatives to the car in question, each of them has a different set of characteristics with some surpassing Porsche Panamera. The latter can be bought new or pre-owned from an official dealership or a used from various websites. Post-purchase evaluation is carried out by a buyer to determine the quality of the car.