Ferrari SWOT Analysis
Here is a detailed SWOT analysis of Ferrari covering strengths, weaknesses, opportunities and threats.
Ferrari Strengths
- Ferrari has a very rich heritage and legacy
- Ferrari is looked upon as a cult brand and possesses strong brand equity
- Extremely strong presence in the racing world
- Provides an interactive channel to the owners through owner’s group
- Extremely capable design and R&D department of Ferrari
- Very light alloy used in manufacturing resulting into better acceleration and handling
- A dedicated pre-owned program to facilitate second hand sales increasing customer reach
- Ferrari has endowed with world class safety facilities
- Despite limited advertising and marketing, the brand is one of the most sought after inspirational brands
- Merchandise like perfumes, jackets, replica models of Ferrari are extremely popular
Above are the strengths in the SWOT Analysis of Ferrari. The strengths of Ferrari looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
Ferrari Weaknesses
- Limited distribution and service network across the world for Ferrari cars
- Lack of experienced service professionals in many countries
These were the weaknesses in the Ferrari SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
Ferrari Opportunities
- Increasing pride in owning Ferrari
- Entering in hybrid and future car segment
- Leveraging the owners group network to reach potential customers can be a boon for Ferrari
- Differentiating the product portfolio to accommodate variants
- Augmenting the distribution and service network
Above we covered the opportunities in Ferrari SWOT Analysis. The opportunities for any brand can include prospects of future growth.
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Ferrari Threats
- Various custom policies in some countries making purchase a long procedure hurt Ferrari's business
- Increasing expectation from customers might not be met
- Product innovations and frugal engineering by competitors can reduce Ferrari's market share
The threats in the SWOT Analysis of Ferrari are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
Hence this concludes the Ferrari SWOT analysis.
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About Ferrari
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| Ferrari Overview | |
|---|---|
| Parent Company |
Fiat |
| Category |
Sports Car |
| Sector | |
| Tagline/ Slogan |
Ferrari, the car for illuminati; Everything we do is driven by Ferrari; We Are The Competition |
| USP |
Ferrari is the best in class sports cars having superior engines and latest technology |
| Ferrari STP | |
| Segmentation |
Sports car for affluent and elite customer |
| Target Market |
Targeted towards elite class customers seeking for a brilliant sporty driving experience |
| Positioning |
Ferrari is positioned as a premium sports car manufacturing company providing best features and latest technology as well as best in class sporty driving experience |
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