Ferrari. The name itself imbibes a plethora of emotions and the need to be associated with the brand is second to none. After all, Ferrari is the world’s most powerful brand, beating the likes of Apple, Samsung, Coca Cola, and PWC. Such is the power of this brand that every minute around 95 items featuring the prancing horse logo is sold across the globe. The company has garnered over 11,425,014 facebook fans, has 32,193,116 visitors on their website and has recorded over 30,478,586 hits on YouTube. With the numbers set to grow over the coming years, the company is very clear on the fact that their strength lies in their workforce, exclusivity as well as their undeterred dedication to the world of motorsport and technology. Highlighting this fact, Luca di Montezemolo, Chairman, Ferrari, stated, “I base my plans for Ferrari on four key areas; our team spirit, our passion, our extreme technology and our exclusivity.”
Based on these merits, the company is chartering a bold path ahead to ensure brand sustenance as well as capitalize on the fact that Ferrari indeed is a very special company.
Passion: Driving Brand Ferrari
By garnering the title of being the World’s most powerful brand, Ferrari has obviously gained a tremendous opportunity to generate revenue. The study by Brand Finance revealed that over 55 per cent of Ferrari fans on facebook are under the age of 24 and that the brand has a very high level of recognition across the globe ranging from very young minds to older connoisseurs which points to the fact that the brand isn’t just sought after by Ferrari owners but by a vast population who in some way wish to be associated with the prancing horse! There is a strong commitment that people make to the brand thanks to its heritage in creating some of the most sought after road going products as well as the company’s motorsport history.
For Ferrari, all this admiration and adulations can only spell good news and the company intends on capitalizing on this through every measure. With over 60 global partnerships including Shell, Lego, Puma, a number of video games, model car manufacturers and apparel manufacturers, the company intends on reaching out to capitalize on their brand worth.
Further to that, Ferrari has outlined their retail project to expand as well and has targeted at having 50 Ferrari Stores globally to market their merchandise ranging from kids wear and toys to collectors items and fashion suitable to those who either own a Ferrari or wish to be associated with that level of lifestyle. Not limiting themselves to geographic locations only, the company also offers their merchandise through their online retail venture which has witnessed a steady growth over the years; starting with just a sale of 55,000 units in 2010, the online retail venture has sold over 100,000 items in 2012 and the figure is set to dramatically rise in 2013.
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