Ferrari: the power of a brand

Ferrari is an Italian luxury car manufacturer, whose origin goes back to 1929, when the founder Enzo Ferrari formed his own Racing Stable. Its cars are known all over the world as a symbol of speed, luxury and wealth, but to obtain the success that the company enjoys today, it has worked several years to convey the right image to people. Ferrari in fact, is not a classic automotive, but a luxury brand and operates according to a different marketing process, which is based on preserving the exclusivity of products. This document analyzes how luxury marketing has been carried out within the company, starting from the smallest features to the most visible ones. Ferrari boasts of a story that has become a myth, mainly thanks to the success in Formula One, and this has made of the ''Prancing Horse'' a symbol that is internationally recognized and immediately associated with the Made in Italy. In order to maintain the acquired exclusivity, the promotional techniques are not aimed at sponsoring Ferrari products to the general public, but at attracting only few selected clients and retaining the existing customers, to create long-term relationships, so that they can continue to purchase. In Ferrari, everything turns around the customer experience, which is delivered at absolute levels, also because it is difficult to become a client, as only about 8000 machines per year are sold with waiting lists of 1 or 2 years. Ferrari organizes many events dedicated to car enthusiasts and the participation in such events is essential to access limited edition cars: it is a constant give and receive. To maintain the exclusivity, Ferrari pays great attention also to the worldwide distribution, to ensure that the various dealers follow the guidelines considered essential to provide the best service and preserve the company's image. In general, all luxury companies adhere to certain rules such as the limited production and commercialization of their products, in fact in this context we do not speak about competition in terms of revenues and market share, but in terms of image and appearance. The effectiveness of the management of the brand is reflected also at an economic level, in fact Ferrari in 2019 has had revenues for 3.4 billion euros, an incredible figure that seems not destined to come down. The luxury market in recent years has steadily grown, but Ferrari has never devalued its products, maintaining a certain exclusive line and ''following'' only certain trends, such as the introduction of hybrid cars. Ferrari conveys passion, excellence and tradition, and this is a cornerstone of the Italian industry that makes Italy proud worldwide.