Published by MBA Skool Team, Last Updated: May 21, 2020
SWOT analysis of Ferrari analyses the brand by its strengths, weaknesses, opportunities & threats. In Ferrari SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Ferrari to benchmark its business & performance as compared to the competitors. Ferrari is one of the leading brands in the automobiles sector.
The article below lists the Ferrari SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Ferrari SWOT Analysis:
For Ferrari, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
The strengths of Ferrari looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Ferrari :
1. Ferrari has a very rich heritage and legacy
2. Ferrari is looked upon as a cult brand and possesses strong brand equity
3. Extremely strong presence in the racing world
4. Provides an interactive channel to the owners through owner’s group
5. Extremely capable design and R&D department of Ferrari
6. Very light alloy used in manufacturing resulting into better acceleration and handling
7. A dedicated pre-owned program to facilitate second hand sales increasing customer reach
8. Ferrari has endowed with world class safety facilities
9. Despite limited advertising and marketing, the brand is one of the most sought after inspirational brands
10. Merchandise like perfumes, jackets, replica models of Ferrari are extremely popular
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Ferrari SWOT Analysis:
1. Limited distribution and service network across the world for Ferrari cars
2. Lack of experienced service professionals in many countries
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Ferrari SWOT Analysis:
1. Increasing pride in owning Ferrari
2. Entering in hybrid and future car segment
3. Leveraging the owners group network to reach potential customers can be a boon for Ferrari
4. Differentiating the product portfolio to accommodate variants
5. Augmenting the distribution and service network
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Ferrari are as mentioned:
1. Various custom policies in some countries making purchase a long procedure hurt Ferrari's business
2. Increasing expectation from customers might not be met
3. Product innovations and frugal engineering by competitors can reduce Ferrari's market share
There are several brands in the market which are competing for the same set of customers. Below are the top 10 competitors of Ferrari:
Ferrari, the car for illuminati; Everything we do is driven by Ferrari; We Are The Competition
Ferrari is the best in class sports cars having superior engines and latest technology
Sports car for affluent and elite customer
Targeted towards elite class customers seeking for a brilliant sporty driving experience
Ferrari is positioned as a premium sports car manufacturing company providing best features and latest technology as well as best in class sporty driving experience
Ferrari Product Portfolio
1. Ferrari F12 Berlinetta
2. Ferrari FF
3. Ferrari 458 Spider
4. Ferrari 458 Italia
5. Ferrari California
6. Ferrari F50
7. Ferrari F40
The above mentioned brands are the prominent products under the Ferrari product portfolio.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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