History of Ferrari (2)

8/12/2019 History of Ferrari (2)

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INTRODUCTION

1.1 HISTORY OF FERRARI

1947-1961:- The Beginning

The first Ferrari road car was the 1947 125 Sport, powered by a 1.5 L V12 engine. In 1950,

Ferrari fielded racing cars in at the Monaco Grand Prix, the first Formula 1 event held there.

Froiln Gonzlez won the first Grand Prix for Ferrari in 1951, and Alberto Ascari secured

Ferrari's first World title in 1952, a task he would repeat the following season.

1961 - The Great Walkout

Enzo Ferrari's strong personality had served his company and racing team, Scuderia Ferrari,

well for decades. Internal tensions reached the boiling point in November 1961. Long-time

sales manager Girolamo Gardini had long chafed at the involvement of Enzo's wife, Laura, in

the company. The two frequently argued, and their dispute became a crisis for the company

when Gardini made an ultimatum to Enzo: if tensions continued, he would leave the

company. As a result, Gardini was ousted, as was Scuderia Ferrari manager RomoloTavoni,

chief engineer Carlo Chiti, experimental sports car development chief Giotto Bizzarrini, and a

number of others who stood by them. All were tremendous losses to the company, and many

thought this might be the end of Ferrari. Indeed, the defectors immediately formed a new

company, ATS to directly compete with Ferrari on the street and the track, and took with

them Scuderia Serenissima, one of Ferrari's best racing customers.

This "great walkout" came at an especially difficult time for Ferrari. At the urging of Chiti,

the company was developing a new 250-based model to defend its honour against the Jaguar

E-Type. Development of this car, the 250 GTO, was at a critical point, with the chassis

development and styling left incomplete. Even if the car could be finished, it was unclear if it

could be raced successfully without Tavoni and his lieutenants.

Into this void stepped young engineer Mauro Forghieri and long-time racing body man

Sergio Scaglietti. Forghieri successfully honed the GTO's handling and Scaglietti designed an

all-new body for the car. The GTO went to Sebring with driver Phil Hill and placed first in

class. It continued winning through 1962, brushing aside the challenge from Jaguar andbecoming one of the most famous sports cars in history.


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This shakeup, and Forghieri's engineering talent, made the 1960s even more successful for

Ferrari than the previous decade. The mid-engined Dino racers laid the foundation for

Forghieri's dominant 250-powered 250 P. On the street, the Dino road cars sold strongly, and

legendary models like the 275 and Daytona were on the way.

1963-1968 - The US rivals

The big V8-powered Shelby Cobra challenged the Ferraris in the early 1960s.By mid 1960s,

Ford tried to buy Ferrari but no agreement was reached. Instead, the Ford GT40 ended the

dominance of Ferrari Prototypes at the 24 Hours of Le Mans in 1966 when GT-40 Mark IIs

finished 1-2-3.

1968 - Ferrari boycotter the performance of the big V8-powered Ford at the 1967 Le Mans,the FIA banned prototypes over 3000cc, which also affected the 330Ps. The change was

announced in late 1967 and came in effect for 1968; for that season, the Scuderia did not take

part in sports car racing in protest.

1969-1971 Porsche

These years saw a new challenger. Formerly competing with smaller cars only, the Germans

entered the new 3 litre sports car prototype class in 1968 with the Porsche 908, while Ferrariraced the Ferrari 312P in only few events in 1969. In March, the presentation of the 5 litre

Porsche 917, built in advance in 25 exemplars, had surprised also Ferrari, which answered

later that year with the production of 25 Ferrari 512S, funded from the money gained by the

FIAT deal. At that time, Porsche had almost a full season of experience with their new car,

and took the World Sports car Championship where Ferrari was only 4th.

The 1970 season saw epic battles between the two teams and the many cars they entered, yet

Porsche won every event except Sebring, where the victorious car and its drivers

IgnazioGiunti/Nino Vaccarella/Mario Andretti had their origins in Italy. Ferrari decided to

give up the 512 in 1971 in order to prepare the new 312PB for the 1972 season, when only 3

litre classes would be allowed. In addition to Porsche, the old national rival with its Alfa

Romeo T33/3 also had won two races in 1971, and thus was ranked second in the World

Championship, above Ferrari.


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1969Fiat

Early in 1969, Fiat took a 50% stake in Ferrari. An immediate result was an increase in

available investment funds, and work started at once on a factory extension intended to

transfer production from Fiat's Turin plant of the Ferrari engine Fiat Dino. New model

investment further up in the Ferrari range also received a boost.

Less positive was the effect on industrial relations at Ferrari's Maranello plant. In June a

visiting journalist witnessed a group of workers suddenly running out of a work-shop in

response to the blast of a whistle: this was part of an industrial stoppage originating at the

main Fiat plant in Turin, and contrasted with the relatively smooth state of production that thewriter had witnessed at competitor plants nearby.

While increased Fiat influence was quickly felt in the development, production and

marketing of road cars, the racing department remained initially little touched by Fiat's new

status within the company as chief investor.

1972-1973 - Dominance defeats and fare-well

The 312PB dominated the World sports car Championship in 1972 against a rival Alfa

Romeo, as the Porsche factory did not compete after the rule changes, and Matra focused on

Le Mans only. In their home race, the French won, as Ferrari did not enter in 1972 due

insufficient reliability over 24 hours, in order not to blemish their otherwise perfect record in

that season.

In 1973, though, the Matra team also challenged for the championship which Ferrari

eventually lost with two wins, compared to Matra's five, while Alfa Romeo had not entered

that year. In addition, Ferrari was now forced to race also at Le Mans, despite concerns that

even the modified engine would not last. Yet, one car survived and scored an unexpected and

honourable 2nd place. Ferrari then retired from Sports car racing to focus on the railing F1

effort.

1974-1987 - NikiLauda and the 1980s

Ferrari enjoyed a successful spell in Formula 1 in the 1970s, with NikiLauda winning the

World Championship in 1975 and 1977, and Jody Scheckter in 1979. In the 1980s, however,


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the team entered a period of crisis, culminating with the death of Gilles Villeneuve in

Belgium in 1982 and a nearly-fatal accident for Didier Pironi in Germany the very same year.

1988 - The Death of Enzo

Enzo Ferrari died in 1988, at the age of 90. The last new model he commissioned was the

specialist F40. Former Sporting Director Luca Cordero di Montezemolo was appointed

President in 1991.

1996 - Champion Schumacher to Scuderia Ferrari

The hiring of Jean Todt as Sporting director in 1993 and Michael Schumacher in 1996

triggered a comeback of the F1 team, with three wins in 1996, and close yet eventually losing

challenges to the driver's championship in the years 1997 to 1999.

2000-2004 - Schumacher Dominates F1

In an unprecedented and record-setting fashion, Schumacher and Ferrari dominate F1

winning the World Driver's championship from 2000 through 2004 and the Constructors'

Championship from 1999 through 2004.

Until 2013

As of 2013, Fiat Group owns 85% of Ferrari, Mubadala Development Company owns 5%,

and Enzo's second son Piero Ferrari owns 10%. Of these, Ferrari is under main control of the

Fiat Group, containing Alfa Romeo as well.


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1.2 PRODUCT SEGMENTATION

Ferrari quickly moved into the Gran Turismo market, and the bulk of the company's sales

remain in this area.

1949 166 Inter

1950 195 Inter

1951 212 Inter

1951 340 America

1953 375 MM

1953 250 Europa

1953 375 America

1954 250 Europa GT

1956 410 Superamerica

1956-1963 250 GT Europa/Boano/Ellena/Pininfarina Coupe/Lusso

1957-1960 250 GT Berlinetta/Cabriolet/California Spider/SWB

1960 400 Superamerica

1964-1968 275

1964-1965 275 GTB Coupe

1964-1965 275 GTS Spider

1966-1968 275 GTB/4

1964 500 Superfast

1964 330

1966 330 GTC Coupe


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1966 330 GTS Spider

1966 365 California

1968 365

1968-1969 365 GTC Coupe

1969-1970 365 GTS Spider

1968-1973 365 Daytona

1968 365 GTB/4 Coupe

1968 365 GTS/4 Spider

1996-2001 550 Maranello

1996-2001 550 Maranello

2001 550 Barchetta

2002-2006 575M Maranello

2002-2006 575M Maranello

2005 575M Superamerica

2006-2012 599

2006 Ferrari 599 GTB Fiorano

2010 Ferrari 599 GTO

2010 Ferrari SA Aperta

2013 Ferrari F12berlinetta


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CHAPTER II

2.1 SWOT ANALYSIS

1) STRENGTHS

Loyal customers Strong brand reputation, image Strong financial position Unique product Dont sell the most, sell the best. Products that are a fine combination of beauty & aesthetics combined with

unforgettable performance.

The brand has connected to itself an aura of mystique Is looked upon as a status symbol Takes on new challenges on a constant basis with a head on attitude. Innovation & technology are key drivers behind every product. A very inspired, well taken care of & satisfied work-force who are proud to be

attached with the brand. This was further expressed publicly when Ferrari was voted

the Best Place to Work in Europe 2012.

2) WEAKNESSES

Cost of product ( $200k -$12 million) Timeliness (2-3 years of waiting) Ferraris business model, based around low volumes, removes the possibility of

employing certain technological solutions.

That same business model also limits their sales volumes even though a lot moredemand is present in the market.

Due to their waiting list model, they lose out on customers to the competition.


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A big challenge lying in wait is fuel efficiency & emissions which are growing inimportance everyday, thanks to spreading concerns over the environment.

3)

OPPORTUNITIES

Technological Innovation Enlargement of customer base Brand expansion Growth in the global market for high-performance super-cars due to growing

economies & developing nations.

Expansion of the brand through entering into new & important automotive marketslike India wherein competitors like Porsche have already set up base.

Enlargement of customer base (increase appeal of their products to a more variety ofbuyers) through adding comfort, roominess, luggage space, engines that are more user

friendly, and so on, while at the same time maintaining traditional Ferrari

characteristicsperformance, style, exclusivity. Ferrari has been exploiting this aspect

for a while & it has been a key contributor to their success in the past 15 years.

Development of technology (for example interfacing electronics with mechanicalsystems) has opened up new avenues to explore for their products.

Packaging i.e. the concept of the car, is another area which still has years to explore.

4) THREATS

Economic slow down/ recession Competitors offer high volumes/stiff comperdition Automotive policies being pushed by countries & continents all over the world which

are being strictly enforced like the emission norms of 130g/km of CO2 are very

difficult to keep up with due to the performance oriented nature of the engines built

by Ferrari.

Tough competition from other iconic super car brands like Lamborghini & Porsche


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A competing brand like Porsche does not follow the same low volumes, high onexclusivity model which is followed by Ferrari & hence sells a lot more of its

products & captures a large chunk of the market share.

Once again, competitors like Lamborghini & Porsche are expanding their productrange to high performance SUVs wherein Porsche has already been very successful

with its Cayenne model, all over the world & in particular, in India, which has lead

to its success in the Indian market. Ferrari has not announced any plans for such a

product (high-performance SUV) as of yet i.e.-2009

2.2THE MARKETING MIX

The Marketing mix is a set of four decisions which need to be taken before launching any

new product. These four variables help the firm in making strategic decisions necessary for

the smooth running of any product / organization. These variables are:-

1. Product2. Price3. Place4. Promotions5. Physical Distribution

1. PRODUCT

The products to be launched need to be the best and different from others available in the

market. Launching vehicles of high performance is a basic necessity as in todays world

people need things which prove to be efficient. Todays youth wants things their own way.

Carrazzeria Scagliette- program to allow clients to personalizing their cars is a feature that

makes this car even more desirable. These features make this car to be a statement of class for

people of contemporary world.

The first thing you need, if you want to start a business, is a product. Therefore Product is

also the first variable in the marketing mix. Product decisions are the first decisions you need


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to take before making any marketing plan. A product can be divided into three parts. The core

product, the augmented product and the tertiary product. Before deciding on the product

component there are some questions which you need to ask yourself.

What product are you selling? What would be the quality of your product? Which features are different from the market? What is the USP of the product? Whether the product will be branded as sub brand or completely new? What are the secondary products which can be sold along with primary (Warranty, services)

Based on these questions, several product decisionshave to be made. These product decisions

will in turn affect the other variables of the marketing mix. For example You launch a car

with is to have the highest quality. Thus the pricing, promotions and placing would have to be

altered accordingly. Thus as long as you dont know your product, you cannot decide any

other variable of the marketing mix. However, if the product features are not fitting in the

marketing mix, you can alter the product such that it finds a place for itself in the marketing

mix.

2. PRICEThe firm decides its pricing keeping in mind the privileged position that Ferrari enjoys. Least

expensive Ferrari i.e. 360 Modena costs $170,200 whereas most expensive Ferrari i.e. Enzo

costs $700,000. Ferrari's pricing strategy also offers a marketing master class. If you are

invited to buy an Enzo it can be yours for 430,000. This is, by anyone's standards, a

ludicrous amount of money. But by targeting the world's most opulent customers and limiting

production to 399 cars, Ferrari must ensure that its pricing is contiguous with its overallmarketing.

Ferrari also understands the hidden dimensions of pricing. Prices are not just the means of

generating revenues. They also signal the quality and exclusivity of the product and the

corporate brand responsible for that product. Enzo will turn a handsome profit. The total

production line has already sold out. But the PR around the price tag will ensure that Ferrari's

brand is reinvigorated and reinforced with new associations of exclusivity essential to the

marque's long-term health.


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In truth, the value of the Enzo should not be measured in fiscal terms, but rather in the impact

it will have on the brand equity of all the vehicles marketed by Ferrari. Most of Ferrari's

revenues are generated by far more attainable models such as the 355 GTS - a snip at

75,000.

Pricing of a product depends on a lot of different variables and hence it is constantly updated.

Major consideration in pricing is the costing of the product, the advertising and marketing

expenses, any price fluctuations in the market, distribution costs etc. Many of these factors

can change separately. Thus the pricing has to be such that it can bear the brunt of changes

for a certain period of time. However, if all these variables change, then the pricing of a

product has to be increased and decreased accordingly.

Along with the above factors, there are also other things which have to be taken in

consideration when deciding on a pricing strategy. Competition can be the best example.

Similarly, pricing also affects the targeting and positioning of a product. Pricing is used for

sales promotions in the form of trade discounts. Thus based on these factors there are

severalpricing strategies,one of which is implemented for the marketing mix.

3. PLACE

Ferrari has a wide area or channel of distribution. It has 1 location in Vancouver, 2 in Toronto

and one in Montreal. Place refers to the distribution channel of a product. If a product is a

consumer product, it needs to be available as far and wide as possible. On the other hand, if

the product is aPremium consumer product, it will be available only in select stores.Similarly, if the product is a business product, you need a team who interacts with businesses

and makes the product available to them. Thus the place where the product is distributed

depends on the product and pricing decisions, as well as any STP decisions taken by a firm.

Distribution has a huge affect on the profitability of a product. Consider a FMCG company

which has national distribution for its product. An increase in petrol rates by 10 rupees will in

fact bring about drastic changes in the profitability of the company. Thus supply chain and

logistics decisions are considered as very important costing decisions of the firm. The firm

needs to have a full proof logistics and supply chain plan for its distribution.
http://www.marketing91.com/pricing-strategies/http://www.marketing91.com/pricing-strategies/


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4. PROMOTIONPromoting a product is something that is to be done with creativity and by using innovative

ideas. F1 advertises through their use of F1 race car which have proved to be a very effective

measure for promotion. Attractive Brochures containing complete information about the

different models and important features helps to attract client by providing them with ample

of information of each product and also giving them a variety of products to choose from.

Reputation also plays an important role in promotion process. Relay on words of mouth,

since the car meets a small amount of societies demand (cost) they expect customers who

have interest to visit a dealership for more information. Ferrari knows well of their clients andtheir standards.

Promotions in the marketing mix include the complete integrated communications which in

turn includes ATL and BTL advertising as well as sales promotions. Promotions are

dependent a lot on the product and pricing decision. What is the budget for marketing and

advertising? What stage is the product in? If the product is completely new in the market, it

needs brand / product awareness promotions, whereas if the product is already existing then it

will need brand recall promotions.

Promotions also decide the segmentation targeting and positioning of the product. The right

kinds of promotions affect all the other three variables the product, price and place. If the

promotions are effective, you might have to increase distribution points, you might get to

increase the price because of the rising brand equity of the product, and the profitability

might support you in launching even more products. However, the budget required for

extensive promotions is also high. Promotions are considered as marketing expenses and the

same needs to be taken in consideration while deciding the costing of the product.

Thus as we see from the above explanations, all the four variables of marketing mix are inter

related and affect each other. By increasing the pricing of the product, demand of the product

might lessen, and lesser distribution points might be needed. On the other hand, the product

USP can be such that maximum concentration is on creating brand awareness, thereby

increasing need of better pricing and more promotions. Finally, the overall marketing mix can

result in your customer base asking for some improvement in the product, and the same can

be launched as the upgraded product.


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The above four Ps of marketing give you an overall look at the product marketing mix. If

your product is a service then there are 3 further Ps taken into consideration namely

people, physical evidence and process.

5. POSITIONING

Ferrari is a car in the Super Luxury subject category and is distinctly more expensive

compared to the luxury cars such as BMW, Lexus and Mercedes. It enjoys a very privileged

position in the automobiles industry. It is probably the only car maker that never worries at

competition price as its name is unmatchable. The standard of living of its clients describes

its very own standard and class. It is one of a kind automobile that doesnt need to be

compared to other brands since it has a well-developed name in the cars market. No other

automobile company has been able to beat or even endanger Ferraris position in the

automobile industry. The latest innovation is the 360 Modena. The 360 Modena combines

Ferrari heritage with innovation as innovation has been the driving feature of Ferrari since

years.


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3.1 FERRARI VS LAMBORGHINI

This is a comparison of the styles (including pictures), performance, power, popularity and

cost of Ferrari and Lamborghini cars. Lamborghini and Ferrari are both Italian companies

that produce popular sports cars.

STYLES

Ferrari currently has four road models: the California (grand touring convertible), the 458

Italia (sports car), F12Berlinetta (grand tourer) and the FF (grand tourer).

All of Lamborghinis current cars are mid-engine two-seat sports cars. These include the

Aventador LP 700-4 and the Lamborghini Gallardo LP 560-4, LP 550-2 and LP 570-4.

FERRARI MODELS

The 8-cylinder models of Ferrari are the Ferrari California, Ferrari 458 Italia and Ferrari 458

Spider. The 12-cylinder models are Ferrari F12berlinetta and Ferrari FF.

Ferrari 458 Italia
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Ferrari 458 Spider

Ferrari California

Ferrari California
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Ferrari F12berlinetta

LAMBORGHINI MODELS

Lamborghini has two models: Aventador and Gallardo, as well as some limited editionmodels. There are various trims available for each model.

Lamborghini Aventador LP 700-4

Lamborghini Aventador LP 700-4 Roadster
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Lamborghini Gallardo LP 570-4

Lamborghini Gallardo LP 570-4 Spyder


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PERFORMANCE

The Ferrari California has a topspeed of 193 mph and can accelerate from 0 to 62 mph

in 3.9 seconds. The 458 Italia can accelerate from 0-62 mph in under 3.4 seconds, with a

top speed of 202 mph. The F12 Berlinetta accelerates from 0 to 62 mph in 3.1 seconds,

with a top speed of over 210 mph, and the FF accelerates from 0 to 62 mph in 3.7

seconds with a maximum speed of 208 mph.

The Lamborghini Aventador has a top speed of 217 mph and accelerates from 0 to 62

mph in 2.9 seconds. The Gallardo LP 560-4 has a top speed of 202 mph and goes from 0

to 62 mph in 3.7 seconds, while the LP 550-2 has a top speed of 200 mph and accelerates

in 3.9 seconds, and the LP 570-4 has a top speed of 202 mph and accelerates in 3.4

seconds.
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POWER

The Ferrari California has a horsepower of 460 HP, while the Ferrari 458 Italia has 570

HP and the FF has 651 HP.

The Lamborghini Aventador has a horsepower of 700 HP, while the Gallardo has

between 550 and 570 HP, depending on the model. The Ferrari F12 has a 730 HP V12

engine.

POPULARITY

According toYahoo!Autos, the Ferrari 458 Italia are the 5th most popular sports car.

Production of the Lamborghini Aventador is limited to 4000 units. A total of 8165

Gallardos have been produced since their introduction 7 years ago.

COST

Current Ferrari retail prices begin at approximately $230,000.

The suggested retail price of the Lamborghini Aventador is $379,700, while the cost of a

Gallardo ranges from $181,900 to $248,000.

RECALLS

Many Ferrari cars were recalled in May 2012 because the engines had a tendency to

suddenly freeze.

Lamborghini has recalled 1500 Gallardo Coupes and Spyders from 2004 to 2006

because thepower steering fluid may leak and catch fire.

AWARDS

The Ferrari 458 Spider was named the Best Cabrio 2012 by Auto Zeitung magazine andBest Sports Car and Convertible by The Sunday Times in 2012. The Ferrari 458 Italia

was also named Best Drivers Car in 2011 by Motor Trend.

The Lamborghini Gallardo was named the Top Gear Dream Car of the Year in 2006 and

the Top Gear Car of the Year in 2009.
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CHAPTER III

4.1 DATA ANALYSIS

Q1. Who do you think is your greatest competitor in the automobile industry?

The employees were asked that whom does they consider to be their greatest competitors and

30% answered that they find Lamborghini to be their greatest competitors whereas 25%

answered that they dont consider any other automobile industry to be a threat to them.

0%

5%

10%

15%

20%

25%

30%

35%

BMW

PORSCHE

LAMBORGHINI

OTHERS


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Q2. What factors determines the price of your products?

The purpose behind asking this question was to know about the best feature that helps them

in determining the price of their products. 40% of the employees said that physical features of

their cars and specialised features like carrazzeria scagliette helps them in determining the

price of their products.

Physical features and

Carrazzeria Scagliette

Performance and high

efficiency

Fuel efficiency and

speed

All of the above

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%


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Q3. Who amongst the following group of people is the main target for your cars?

The employees were asked that from the above mentioned group of people whom doe they

consider to be their main target. 70% of the employees answered that elite business class is

their main target as their cars match their standard of living and class.

YOUTH WORKING CLASS ELITE BUSINESS CLASS All of the above

0%

10%

20%

30%

40%

50%

60%

70%

80%


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Q4. Which feature attracts your customers more?

This question was asked to know about the best feature that the company provides which

attracts a large number of customers. 40% of the employees answered that style and value

added features plus performance of their cars attracts a large number of consumers.

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

FUEL EFFICIENCY PERFORMANCE STYLE AND VALUE

ADDED FEATURES

ALL OF THE ABOVE


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Q5. What does your firm mainly believe in?

The purpose behind asking this question was to know the policy the firm mainly believes in.

45% of the employees answered that the firm believes in the policies like transparency and

fairness, disclosure of all relevant information and supervision.

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

TRANSPARENCY AND

FAIRNESS

DISCLOSURE OF ALL

RELEVANT

INFORMATION

SUPERVISION ALL OF THE ABOVE


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Q6. What is the most successful Promotion strategy/activity amongst the following?

The employees were asked that which amongst the following promotional strategies provedto be most successful one. 70% of the employees answered that f1 racing proved to be the

most beneficial and commendable.

0%

10%

20%

30%

40%

50%

60%

70%

80%

INNOVATIVE

BROCHURES

REACHING

PERSONALLY TO YOUR

CUSTOMERS

F1 RACING OTHERS


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Q7. Does your firm concentrates only on a specific group of people usually elite class ?

This question was asked to know if the firm concentrates mainly on the elite class for selling

of their products. 90% of the employees agreed to this and said that they make their products

keeping in mind the living style and standards of the elite class.

90%

10%

YES

NO


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Q8. Have your firm been benefitted by participating in f1 race?

The employees were asked if they feel that they have been benefitted by participating in f1

race and more than 90% of the employees gave a positive response.

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

yes no


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Q9. What is the strength of your company?

The purpose behind asking this question was to know the strength of the company. 40%

answered that their brand name and reputation is their strength while 30% answered that

loyalty of their customer is their greatest asset.

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

LOYALTY OF YOUR

CUSTOMERS

BRAND NAME AND

REPUTATION

STRONG FINANCIAL

POSITION

ALL OF THE ABOVE


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Q10. Which of the following is your main area of concern?

The purpose behind asking this question was to know their main area of concern. More than50% of the employees answered that their products and its performance is their main area of

concern. While 30% of the employees said that they concentrate on all the Ps i.e. product,

promotion, place and promotion.

0%

10%

20%

30%

40%

50%

60%

PRODUCT PRICE PLACE PROMOTION All of the above


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4.2 CONCLUSIONOur findings reveal that there is a great amount of market demand for Ferrari cars usually

among the rich and elite class of the society. In such a competitive market the Ferraris

innovative technology is very appreciable. The company knows very well about its target and

potential buyers and hence its marketing technique also concentrates on the same. Its

products design is found to be the most attractive feature. Pricing is done keeping in mind the

customers and their potential along with the technology used. Being a premium consumer

product, it is found in limited stores. As it is a specialty good so the customer needs time to

study the product as a whole in respect to its performance , efficiency etc. so the staff should

be well trained. The company have gained allot of customers due to its participation in f1

acing which have proved to be its best marketing strategy. Ferrari is well known for its

authentic products and innovative techniques in the field of elite cars.

APPENDIX


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5.1 QUESTIONNAIRE

Q1. Who do you think is your greatest competitor in automobile industry?

a. BMWb. Porschec. Lamborghinid. others

Q2. What factors determines the price of your products?

a. Physical features and Carrazzeria Scaglietteb.

Performance and high efficiency

c. Fuel efficiency and speedd. All of the above

Q3. Who amongst the following is your main target for your cars?

a. Studentsb. Working classc. Elite Business classd. Government servant

Q4. Which feature attracts your customers more?

a. Fuel efficiencyb. Performancec. Style and value added featuresd. All of the above

Q5. What does your firm mainly believe in?

a.

Transparency and fairnessb. Disclosure of all relevant informationc. Supervisiond. All of the above

Q6. What is the most successful Promotion strategy/activity amongst the following?

a. Innovative brochuresb. Reaching personally to your customersc. F1 racingd.

Others


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Q7. Does your firm concentrates only on a specific group of people usually elite class ?

a. Yesb. No

Q8. Have your firm been benefitted by participating in f1 race ?

a. Yesb. no

Q9. Which of the following is your main area of concern?

a. Productb. Pricec. Placed. Promotione. All of the above

Q10. What is the strength of your company?

a. Loyalty of your customersb. Brand name and reputationc. Strong financial positiond. All of the above


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BIBLIOGRAPHY

FERRARI MAGAZINE

FERRARI CATALOG

WEBLIOGRAPHY

http://www.ferrari.com/English/about_ferrari/Ferrari_today/Management/Pages/Mana

gement_1.aspx

http://www.managementparadise.com/forums/marketing-management/209208-

marketing-strategy-ferrari.html
http://www.ferrari.com/English/about_ferrari/Ferrari_today/Management/Pages/Management_1.aspxhttp://www.ferrari.com/English/about_ferrari/Ferrari_today/Management/Pages/Management_1.aspxhttp://www.managementparadise.com/forums/marketing-management/209208-marketing-strategy-ferrari.htmlhttp://www.managementparadise.com/forums/marketing-management/209208-marketing-strategy-ferrari.htmlhttp://www.managementparadise.com/forums/marketing-management/209208-marketing-strategy-ferrari.htmlhttp://www.managementparadise.com/forums/marketing-management/209208-marketing-strategy-ferrari.htmlhttp://www.ferrari.com/English/about_ferrari/Ferrari_today/Management/Pages/Management_1.aspxhttp://www.ferrari.com/English/about_ferrari/Ferrari_today/Management/Pages/Management_1.aspx

Documents

History of Ferrari (2)