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Marketing Mix of Ferrari

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The Marketing mix of Ferrari discusses the 4P’s of Ferrari and the reason that Ferrari is one of the most widely acknowledge super cars across the world.

About Ferrari

  • Type: Ferrari is a luxury sports car manufacturer.
  • Industry: Automotive
  • Founded: 1939
  • Founders: Enzo Ferrari
  • Headquarters: Maranello, Italy
  • Area served: Worldwide
  • Current CEO: Benedetto Vigna
  • Number of employees: Over 4,500
  • Major Products: Ferrari produces a range of luxury sports cars, including the F12 Berlinetta, 488 GTB, California T, and LaFerrari.

Product

High-Performance supercars. Though the company is also heavily into 3rd party merchandising.

Pricing

Priced at a premium, they start at prices upwardly of 175,000 $US. Vintage Ferrari cars are also a great investment as Vintage Ferraris appreciate in value & are known to cost millions of US Dollars.

Marketing mix of Ferrari

Promotions

The strongest promotion for Ferrari is in its merchandising. It already enjoys immense awareness throughout the world, even in places it doesn’t do any promotion. To the extent that in India, wherein the brand is not even present as of yet, it is very well known. Furthermore, the merchandising is done on a royalty & license basis to other brands (Eg. Puma selling Ferrari-Puma branded shoes).

Place

It has its exclusive Ferrari dealerships spread over 52 countries as of yet with plans to expand it’s dealerships to other countries & markets.

People

A very inspired, well taken care of & satisfied work-force who are proud to be attached with the brand is what Ferrari offers its “people”. With factories, production units & workplaces built around the safety & health of its workers, Ferrari was voted the “Best Place to Work in Europe 2007”.

Process

They are reliant heavily into R&D, innovation & staying at the cutting edge of technology. Therefore, their process is in a constant state of flux which is forever changing & adapting with what the environment around them demands.

Physical Evidence

Dealerships across the globe showcasing their cars along with merchandise offering the customer a lounge sort of experience rather than that of a showroom. This is done keeping in mind the lifestyle of their potential customers.

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About Hitesh Bhasin

Hi, I am an MBA and the CEO of Marketing91. I am a Digital Marketer and an Entrepreneur with 12 Years of experience in Business and Marketing. Business is my passion and i have established myself in multiple industries with a focus on sustainable growth. You will generally find me online at the Marketing91 Academy.

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