Ferrari continues to wow fans

Founded in 1947 by Enzo Ferrari, the Italian masterpiece has been known for its world-class Sports Car Manufacturing. It is one of the world’s leading luxury brand focused on advanced engineering, sleek design. The brand symbolizes innovation, Italian design and engineering heritage, exclusivity, and state-of-the-art sporting performance.

Ferrari design and produce the cars in Maranello, Italy, and sell it in more than 60 markets globally.

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Competitive advantage in the Marketing strategy of Ferrari

1. Controlled growth emerging as well as developed nations: Company uses low volume production strategy, which helps it in maintaining the exclusivity while keeping in mind the changing consumer dynamics and geographical socio0economic changes.

2. New Models & enhancements on regular basis: Launching at least a new model every year along with periodically designing and launching limited edition cars suiting to the client’s appetite and personalization has helped the company in being ahead in all these years since its inception.

3. Formula 1 racing: The Company has been known for the success in Formula 1 racing through Scuderia Ferrari, the most successful team in Formula 1 history which has positioned itself as a premier racing team in Formula 1.

4. Expansion in luxury and lifestyle categories: The company is working together to expand and create a range of luxury goods and lifestyle categories which gives the customers the feeling of exclusivity through supplementing it along with the sports cars aimed at enhancing the brand image.

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Source: https://www.marketing91.com/marketing-strategy-ferrari/