Company Name: Ferrari
Founder: Enzo Anselmo Ferrari
Ferrari is the Italian luxury sports car manufactured in Maranello. Professionally, Enzo Anselmo Ferrari was a famous sports car manufacturer. Later in life, he thought of a startup of luxurious car manufactured by his own.
He had set up his own company and given it his own surname- Ferrari. The car was first seen in the Auto Avio Costruzioni’s race division. Then in 1947, it has introduced its car in the market.
How it all started
Being the sports car manufacturer, Enzo Ferrari was always interested in manufacturing of the world’s first-class sports car. He was not interested in road cars and it was in 1929 when he was developed, Scuderia Ferrari. It was bought by then leading Alfa Romeo to use it in racing. Generally, Alfa Romeo is known for manufacturing Sports car only for Gentlemen Drivers.
When it starts receiving more profit, the company withdraws its own team of in-house racing and offers the work team charge to Scuderia Ferrari. In 1938, Alfa Romeo bought Alfa Corse for the racing by disbanding Scuderia Ferrari. One year later, Enzo Ferrari resigned from Alfa Romeo and started Auto Avio Costruzioni. During its initial days, the company produced accessories of aircraft and machine tools.
Tipo 815, a fiat based car was manufactured in 1940. But due to WW II, it cannot receive the market as it was expected. Then the company was shifted to Maranello. Then it was experienced many difficulties including bomb blasting and reconstruction. 125 S is the first-badged car of Ferrari introduced in the market in 1947.
Then, after a long phase, the road car was invented by Ferrari in 1969 and the model was 166 Inter. The identity of the company is its logo, for Ferrari you can see a “Prancing Black Stallion on Yellow Shield with S and F letter”.
Being in the market for over 60 years, Ferrari has come a long way. Earlier it was only specialized in racing cars. From 1969, it has focused on road cars and designed some top-notch models of road cars. The logo is used on both sides of front wings in the road cars. The cars are of course equipped with modern technologies and facilities to provide the utmost comfort during travel.
It becomes a symbol of wealth and gratitude. It was after the manufacturing of the fastest racing car F60 which is popularly known as Enzo, on behalf of the founder of the company. It has introduced some classy road cars like LaFerrari, Dino, Lusso, Portofino and lots more. In the 88th Geneva International Motor Show, the latest supercar of Ferrari has been unleashed which was named 488 Pista.
Ferrari’s Marketing Strategy and Interesting Reasons behind Its Grand Success
Apart from this, gradually with time and advancement, Ferrari has provided many concept cars and hybrid cars to be a part of the initiative to minimize air pollution. It is available in every country of the world starting from the sub-continent of Africa to the Asia Pacific and South America to Europe.
Customer analysis: It has built its car especially for the wealthy personalities across the globe. It is for those people who want to use luxury and premium sports car. This car provides the perfect essence of the brand that perfectly blends with your personality, aristocracy and luxurious lifestyle.
Market analysis: Being the world’s leading luxury car manufacturing company, Ferrari has to deal with a number of factors to maintain its profitability. Furthermore, the celebs are always looking for the rarest form be it cars or any other things. Keeping this point in mind, the company realizes the demand for famous personalities and accordingly hunts for rare, exclusive design and technology. Along with these, they have to patch up the aesthetics and quality at the same time. All these aspects are responsible for such a high price of cars.
Competitive analysis: Ferrari is one such luxury car manufacturing company which has a high brand value. As there are only two segments of the luxurious car- Sports car and GT car, competition is maximum! The appeal of the brand’s association, Innovation, novelty, and styling are the crucial aspects for creating a luxurious brand image in front of the wealthy people.
Brand Equity: The Ferrari Logo is very iconic and plays an integral role in representing performance, exclusivity, quality, design and Italian luxury. It depicts the role of the brand association in non-competitive races, Racing Days, rallies, driving courses, and Motor Shows as well. It has developed two car museums in Modena and Maranello respectively for showcasing the future technologies and the technologies which are using currently. A number of concept cars are also exhibited here to provide an idea about the working capability of the company. It will create trust and reliability in the company by a number of people.
Distributing strategy: The Company does not provide any dealership facility. It has only 170 dealers who have been selected on various tight eligibility criteria. Rather it has hired 266 employees for this commercial purpose. All of them are scattered in 4 important geographical markets like India and South Africa; America; APAC; and Greater China. They are responsible to maintain the distributory level in these subcontinents.
As a luxurious branded-car, Ferrari does not require the importance of TV advertisement and any kind of short commercials. Only by acquiring the perfect niche of the customers, it can attain its profitability level along with pinnacle of success. Every year, it launches its new cars and exhibits the older ones in the International Consumer Electronics Show.
Demos are also been provided there. Banner ads are displayed by this company on several websites to create attention to Ferrari. Email marketing is a way chosen for marketing only for the existing consumers to inform them about their new products which can add more beauty to their garages.
Ferrari is the luxurious car brand faced a number of difficulties to create a brand image once. Now it is recognized as the most classy, aristocratic car manufacturer providing a great commuting option to the celebrities. It becomes a great companion for many wealthy people to commute in a unique style and comfort.