Published by MBA Skool Team, Published on July 22, 2011
There are very few brands which have a top of the mind presence amongst all the brands competing in the same sector. For e.g. Coca cola comes as a first name when thinking of beverages, McDonald’s comes to mind when one thinks of quality fast food etc. Similarly there is one brand in the automobile sector, which with its sheer design, power, speed and style, has managed to fascinate all people in the world. And the best way of identifying this engineering marvel is by its “Red Italian Sports Car” image and the “Prancing Horse” logo, which is none other than Ferrari.
Ferrari is one car which has captured the imagination of billions of people all across the world. Ferrari’s brand presence makes it easily the most popular and dreamt about car. With its powerful engines, strong brand associations and excellent designs, Ferrari stands out most uniquely amongst all cars.
Manufactured in Italy, Ferrari was founded by Enzo Ferrari in 1929. Initially, it used to sponsor drivers and participated in manufacturing cars only for races. However, after two decades after leaving a mark in the field of racing, Ferrari decided to manufacture cars for the streets. And this is where an unbelievable and memorable journey of one of the strongest brands began.
Ferrari has always been associated with motorsport especially with Formula One. Competing with other big names in F1, Team Ferrari has always succeeded and gave a great performance, especially with the sports legend Michael Schumacher. Success in the fast and competitive formula one has also added to the ever increasing brand equity of Ferrari.
Ferrari makes sure that each of its brands gives the customer an experience unparalleled. Ferrari has a wide range of cars, all for the premium niche market, and it sells only about 5,000 cars a year. The interior of every Ferrari is customised so as to give exactly what the customer wants. Each Ferrari car in itself becomes a brand name due to the presence of the ‘Ferrari’ name attached to it. Some of the Ferrari models which have made waves in the automobile industry are Ferrari 360 Modena, Ferrari 360 Spider, Ferrari 550 Barchetta, Ferrari 550 Maranello, Ferrari Enzo, Ferrari F40, Ferrari California, 458 Italia and Ferrari F50.
Apart from being one of the finest in the automobile industry, Ferrari has also managed to create a strong market presence through merchandise products. Ferrari products like jackets, caps, perfumes, apparel, watches etc also add to the legacy and brand value of the automobile giant. The prancing horse logo on the yellow shield is one of the most recognisable logos and designs, which increases the brand value of any product manifold. Ferrari also indulges in organising events, races etc which helps in increasing brand visibility. More than that, it gives opportunity to people and corporate to be associated with a powerful and popular brand name like Ferrari. Ferrari World, a theme park, is another initiative to showcase to the world this brand of dreams.
Ferrari has also associated itself other brands by having corporate partnerships and tie-ups with them. Some of the major brands which have formed a partnership with Ferrari are Bridgestone, Shell, Michelin, Pirelli, Bosch etc. Such brand associations also enhances the images of all the brands and it’s a win-win situation for all.
Many brands will come and go. Sports cars will become faster and sleeker. Technology would change. But one brand which has been there, and which would remain forever, is brand Ferrari.
About the Author : Parth Mathur is an aspiring MBA. He lovers cars, his guitar and cricket. He likes to collect information on various car brands like Bentley, Ferrari, BMW etc.
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