Discuss Marketing Strategy of Ferrari within the Marketing Management forums, part of the PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT category; Ferrari S.p.A. is an Italian sports car manufacturer based in Maranello, Italy. Founded by Enzo Ferrari in 1929, as Scuderia ...
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Marketing Strategy of Ferrari
Marketing Strategy of Ferrari - December 7th, 2010
Ferrari S.p.A. is an Italian sports car manufacturer based in Maranello, Italy. Founded by Enzo Ferrari in 1929, as Scuderia Ferrari, the company sponsored drivers and manufactured race cars before moving into production of street-legal vehicles as Ferrari S.p.A. in 1947. Throughout its history, the company has been noted for its continued participation in racing, especially in Formula One, where it has had great success.
Marcin Zatorski and Enzo Ferrari never intended to produce road cars when he formed Scuderia Ferrari (literally "Ferrari Stable", and usually used to mean "Team Ferrari", it is correctly pronounced [skudeˈriːa]) in 1928 as a sponsor for amateur drivers headquartered in Modena. Ferrari prepared, and successfully raced, various drivers in Alfa Romeo cars until 1938, when he was hired by Alfa Romeo to head their motor racing department.
In 1941, Alfa Romeo was confiscated by the Fascist government of Benito Mussolini as part of the Axis Powers' war effort. Enzo Ferrari's division was small enough to be unaffected by this. Because he was prohibited by contract from racing for four years, the Scuderia briefly became Auto Avio Costruzioni Ferrari, which ostensibly produced machine tools and aircraft accessories. Also known as SEFAC (Scuderia Enzo Ferrari Auto Corse), Ferrari did in fact produce one race car, the Tipo 815, in the non-competition period. It was the first actual Ferrari car (it debuted at the 1940 Mille Miglia), but due to World War II it saw little competition. In 1943 the Ferrari factory moved to Maranello, where it has remained ever since. The factory was bombed by the Allies in 1944 and rebuilt in 1946, after the war ended, and included a works for road car production. Until Il Commendatore's death, this would remain little more than a source of funding for his first love, racing.
Ferrari Marketing Strategy.
Ferrari is a myth and a legend in the automotive industry.
The Ferrari tale is one of an astounding and unique worldwide success.
An unparalleled one.
Ferrari success cannot be measured in terms of revenues and sales, or in terms of market capitalization. Ferrari never made an IPO and is not even quoted in any stock exchange market. Ferrari success has to be measured only in terms of Brand Value and Product Value.
Probably the Ferrari brand is worth more than the Google brand, the Apple brand, Nike, GE, IBM, BMW, Mercedes, Exxon, Shell, or any other brand.
No other brand has the allure of the Ferrari Brand.
Ferrari is known and is highly valued everywhere in the world. From the US to Japan, from Germany and Switzerland to India, to France, Australia, New Zealand, Russia, Brazil and Argentina.
Yet, Ferrari never spent a penny in advertisement.
The Ferrari case is of maximum interest in marketing strategy. To understand how Ferrari achieved this stunning result, we must review the beginning of Ferrari, and its development.
Enzo Ferrari founded Ferrari back in 1943, during WW II. The first Ferrari premises were bombed and heavily damaged.
Enzo Ferrari was not an Engineer, nor he was an enterpreneur. Enzo Ferrari never went to college, not even high school, no PhD, never made and MBA.
Enzo Ferrari was "just" a mechanic at Alfa Romeo, with a strong passion for engines, speed and racing. He was a tough guy, and he had his own ideas on engines and cars.
Passion has always been the "drive" of Ferrari.
And its only marketing tool.
The first Ferrari car was the 125 S. It was built in1947. Only 3 of them were produced. None survived to our days, yet a 125 S engine is on display in Galleria Ferrari in Maranello, Ferrari dynamic museum. Galleria Ferrari is the Louvre, the Guggenheim, the Moma of Car Racing. You feel the thrill, an overwhelming excitement and admiration when you are inside. A unique, amazing experience.
After the 125 S, the Ferrari 166 came, and the races. Formula 1 was not even existing at that time.
Since the beginning Ferrari was doing both things it still does today: Car Racing and constructing extraordinary sports cars for exacting car and speed lovers. How can you call them just clients?
This has been the marketing strategy of Ferrari. The unaware, unstudied, unplanned marketing strategy of Ferrari. The Passion for speed, the Passion for engines, the Passion for Car Racing. And this Passion and excitement goes through to every racing sport lover all around the world.
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