Brand Extention Analysis : Ferrari World Theme Park

Mehandi GoelPGP30205

FERRARI PARENT COMPANY

• Fiat Chryslar Automobiles is the Parent company for Ferrari

• Ferrari’s share capital is currently divided as follows:

90% Fiat Group, 10% Piero Ferrari

Source: http://www.ferrari.com/en_in/

FIAT CHRYSLAR AUTOMOBILES(FCA)• Fiat Chrysler Automobiles (FCA)is the seventh-largest automaker in the

world

• It designs, engineers, manufactures and sells passenger cars, light commercial vehicles, components and production systems worldwide

• The Group’s automotive brands are: Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, Ram, Ferrari and Maserati

Sorce:http://www.fcagroup.com/en-US/group/our_businesses/Pages/default.aspx

FERRARI BRAND EXTENTIONS

Ferrari Museum:

Museo Ferrari Maranello,Museo

Enzo Ferrari

Ferrari World Abu Dhabi Theme Park

Ferrari Store

FERRARI WORLD,ABU DHABI

FERRARI WORLD ABU DHABI THEME PARK

Extention type: Product Extention

Product Category : Theme Parks

PRODUCT CATEGORY ANALYSIS

Theme/amusement parks experiences dynamic growth, rising by 6% in 2013 value sales

Revenue of theme

parks(U.S):

$16 Billion

Annual growth:2012-2015

2.9%

Businesses:

476

Source:http://www.ibisworld.com/industry/default.aspx?indid=1646

CATEGORY ANALYSIS

Theme park category Growth

Top amusement parks of the world-

1. Disney parks and Resorts- It is the largest operator and benefitted from increased ticket prices.

2. Universal Studios Theme Parks-It was the first major operator to raise prices when it upped its single day pass to $92, up from $89, in May 2013

3. Merlin Entertainment Group4. OCT Parks China

Source:Euromonitor International,Tourist Attractions in the USA

PRODUCT FEATURES: Theme Park

20 Rides

4 specially for children

Other rides include rides for families and thrill lovers

Spans 200,000 m2 carrying the largest Ferrari logo ever created

The enclosed area accessible to public is 86000 m2

Large enough to fit 7 football fields head-to -toe

Has a iconic sleek red roof

Inspired by the classic double curveside profile of the Ferrari GT body

Services include Prayer rooms,Smoking Areas,Strollers,Baby Changing and Feeding Areas,atms,parking and Lockers

Source: www.ferrariworldabudhabi.com

RIDES

SERVICES

EXTERIORS

AREA

PRICE

Bronze Silver Gold

Adults 250 AED= $67.5

350 AED=$94.5

500 AED=$135

Children 205 AED=$55.35

305 AED=$ 82.35

415 AED=$112

There are separate prices for Adults and Children as well further division into Bronze,Silver and Gold for different kinds of services with Gold being a premium service.

Sources: www.ferrariworldabudhabi.com

PLACE Yas Island,Abu Dhabi

"There's been a growing demand for a continuous entertainment offering and the appeal of Yas Island as a leisure destination is now even higher," said Andy Keeling, park manager, Ferrari World Abu Dhabi.

Source: http://www.arabianbusiness.com/ferrari-world-abu-dhabi-move-7-day-ops-502885.html

PROMOTION

Sponsors Promotional offers and Deals

• Ferrari World has a discounted ticket prices for children

• There are various offers and deals available year round inside the park

Ferrari Parent Brand

• Ferrari World’S parent brand had an extremely strong Brand Equity

• Strong fan following ensures that much promotion for awareness id not required.

• Mountain Dew:The Brand knows what it means to challenge the norms and what it means to walk on the wild side

• FGB: As one of the leading banks in the UAE, FGB (FGB) has Shareholder Equity of more than AED22 billion making it one of the largest equity based bank in the UAE

TARGET SEGAMENT AND POSTIONING

Target Segment:

Behavioural: Males, who love cars, speed and power.

Demographic: Ferrari world also seeks to gain a very Family oriented atmosphere.This is evident because there are only 4 adult rides out of 20rides in total.

Geographic: Ferrari aficionados and families from UAE, the GCC, and around the world.

Positioning:Ferrari World positions itself as a Theme Park for everyone.

It positions itself as a provider of a family oriented experience.

It also portrays the feel of speed and power; the main attributes of a Ferrari car.

The overall positioning is to satisfy the need for a sense of achievement and hence uses the tagline : ‘ Bring your winning attitude and leave as champions’

This is evident from the video on Ferrari World:

http://www.ferrariworldabudhabi.com/en-gb/about-us.aspx

Competitive frame of Reference:

The competitive frame of reference for Ferrari World are the Amusement and Theme ParksIts direct competitors are Disney world, Universal Studios and Merlin Entertainment Group

POP’s• Amusement rides for all ages• Water Park• Theme Based• Differential Pricing

POD’s• First ever Indoor Theme Park• Theme Park by a an automotive manufacture

company Ferrai having a cult following• It has the world’s fastest rollercoaster,

Formula Rossa, accelerates to an unbelievable speed of 240km/h in 4.9 seconds

Thank You