Ferrari brand recognition

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FERRARI: STRATEGIC BRAND ANALYSIS

HISTORY

Born in 1898, Enzo began working at Alfa Romeo in the early 20’s of the last century. He was a mechanical, pilot testing and then director of Alfa Romeo team sports. But his affection for cars, came in childhood, when he watched racing cars with his father. Transformed into a determination, that passion made possible to Enzo Ferrari to realize hisdream of building victorious cars. He was able to make it possible with his own talent - including marketing - and unite around himself highly competent people in their respective areas.

In 1929 he made a great master stroke: he created the Scuderia Ferrari, the first racing team independent of the factories, but linked to Alfa Romeo. In 1939, Enzo Ferrari left the Italian industry and in the2nd World War, he worked manufacturing agricultural equipment and even cars (two Auto Avio Costruzioni in 1940). But he could not put his name in any car as a result of contract signed with Alfa Romeo. Only in 1946, after the end of the war, he built the first car with his name, the Ferrari 125S. And he astonished the world by generating facilities in bad condition, but with an enthusiastic andcompetent team, the motor was powerful (V12), something very advanced for its time and even nowadays.

Some of the Ferrari cars were designed by Pininfarina Studio, a former partner and are manufactured at the factory in Maranello, province of Modena, region Emilia Romagna. Each one takes on average 45 days to complete. The average production from 2500 to 2800 cars per year increased in 1997 to3581 units. In 1969, Fiat acquired majority stake from Ferrari. In July 1997, Ferrari bought half the shares of Maserati car brand of the Fiat group - which itself now belongs - and took command of the industry.

The famous symbol of Ferrari is a black prancing horse on yellow background, always with the letters SF for Scuderia Ferrari. The horse was originally the symbol of Count FrancescoBaracca, a legendary person of the Italian air force during World War I, who painted on their planes. Baracca died very young on 19th June, 1918, shot down after 34 victorious duels , thus becoming a national hero.

On 17 June 1923, Enzo Ferrari won a race at the Savio track in Ravenna where he met the Countess Paolina, mother of Baracca. The Countess asked that he use a picture of a horse on his cars,suggesting that it would grant him good luck, but the first race at which Alfa would let him use the horse on Scuderia cars was eleven years later, in the 24 Hours of Spa in 1932; Ferrari won. Ferrari left the horse black as it had been on Baracca's plane, however, he added a yellow background because it was the symbolic color of his birthplace, Modena.

WHY WE CHOOSE THIS BRAND

We choseFerrari, because is a brand with a long history, which continues to grow until today. Ferrari today is not just a car, but a lifestyle, with its various products such as cars, clothes, accessories and more.

Understanding how this brand has achieved this tremendous success, without being daunted by their competitors is important because it is a great example for those who study marketing andespecially branding.

CUSTOMER ANALYSIS

 

Trends

 Ferrari is a myth and a legend in the automotive industry.  Ferrari has always come as one of the biggest brands available worldwide. Its brand value is the highest even more than the Apple brand, Google brand etc. The brand value is a big driver for trends that the company sees. From 4070 units in 2000 to 6400 units in 2007, Ferrari has seena steady increase in the number of units it sells each year. This includes 85% of units exported. Although in super fast changing market where technologies are passé every few weeks, Ferrari has managed to come up with new and updated technology and has passed in keeping up the passion of speed and flashy cars in its customers. This is major factor, which has kept up the trend and the reason...
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