“What's red, Italian and goes from 0 km/h to 100 km/h in three and a half seconds?” Ask this from any person on the street and you for sure will hear only one answer “Ferrari”. It was founded by Enzo Ferrari in 1943, the first Ferrari was built in 1947 and that is when the legend begins. Now it is hard to think of any other car that can make anyone feel more exclusive. It`s not just a sport car you own - it`s quality, passion, luxury and status that comes with it. We chose it for our group presentation for all of those reasons and also because it is an outstanding, not usual brand, with a very special marketing strategy and a small group of exclusive costumers.
In order to have a clear understanding of company’s position, potential and direction we used many business measurement tools. First of all, PEST analysis, which helped us to get a better idea about macro-environment in which Ferrari operates. By establishing main Political, Economical, Social and Technological factors we were able to assess current market situation, predict future challenges that company will have to face and think about possible solutions for those problems. After analyzing external factors we`ve identified strengths, weaknesses, opportunities and threats (SWOT analysis) in order to understand overall strategic position of the business. In other words, now we were able to evaluate on Ferraris’ internal environment and have a clear view of company’s perspectives, limitations and possible improvement areas. To complete our environmental research we used Porters Five forces to find out about competition in the industry, potential of new entrants into industry, power of suppliers and customers, threat of substitute products
Ferrari`s marketing strategy is also something that makes this company very special. This car is a legend in a world of supercars, everyone knows what a prancing horse logo or at list heard of it. However it never used a penny on advertisement. And indeed,...
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