Marketing strategies in different markets of ferrari

Marketing strategies in different markets of ferrari The sports car brand Ferrari when focused, I analyzed their success and marketing strategies in different markets, one the German and second Italian market and worldwide. For information I used business theories such as the product life cycle, marketing mix, analysis of positioning and segmentation. These two large economically stable countries are different; Ferrari does not make many differences in the way of selling cars. The company being recognized by its rearing- stallion logo is up to speed. The Italian Co. volume sales to build its status brand by producing 6,400 high-performance sports cars a year, with the initial price about $140,000. GT and sports model include models like Spider, Scaglietti and Ferrari California. The companys F1 model brings Ferrari drivers close to the racing experience. Since 1947, the exclusive cars have been manufactured in Maranello, Italy and sold through strategically selected dealerships. Fiat S.p.A group holds 85% stake in Ferrari , Piero Ferra ri, son of Ferraris founder, owns 10%. Throughout the history of the company it has been noted for its continuous participation in racing mainly on Formula 1 where they have achieved great success. For the growth the company has launched a Ferrari World Theme Park in Abu Dhabi in the year 2010 which is also leading them to gain profits as people are attracted towards it. The sales have been increasing at an increasing rate from 2004-2008, in 2008 they had performed above average with a record breaking sales of above 6587 cars in a year for the first time, as result their turnover increased by 16% while the profit has been increased by ravishing 75%. But due recession hitting in fall 2008, the sales volume drastically fell by 85% in November 2008 (the sales reduced to 92 cars from 600 cars a month). As a result in 2009 there has been a fall in sales, turnover and profit. INTRODUCTION The history of Ferrari is incomplete without mentioning that Enzo Ferrari worked for Alfa Romeo from 1920-1929, after which he raced for another 10years for Alfas. From the time he was 12 he knew he wanted to be a race driver, the dream which he achieved at Alfa and adopted the cavallino, or prancing horse, insignia for his Alfa race car. In 1929 Enzo left Alfa to start his privately owned Alfa Romeo racing team known as Scuderia Ferrari in Modena. Scuderia Ferrari did not race cars with the name Ferrari; the Ferrari shop built its first car in Modena in 1937 the Alfa Romeo 158 Grand Prix Racer. The first championship they got was in 1952-1953 season. Ferrari started making sports cars in order to finance his Grand Prix and Le Mans adventures. Ferrari headed the company until he stepped down in 1971 and died in his hometown of Modena. His name is the most famous in motor sports. In 1952 the emblem of the prancing horse was created which is still used today. THE MARKET ENVIORNMENT:- The geographical market: in todays market Ferrari is facing tough competitors like Lamborghini, Porsche, BMW and Aston Martin. To survive in the market the competitors try and make highly innovative designs and high quality performance. They are in an automotive industry and have a subsidiary type of business and it was started by Enzo Ferrari. The headquarters of Ferrari are located in Maranello, Italy. It had remarkable revenue à ¢Ã¢â‚¬Å¡Ã‚ ¬1,921 million (2008). The owners of Ferrari are Fiat group 85%, Mubadala Development Company 5%. PEST-G analysis:- Political: the environmental protection laws in the company have come out with launching eco-friendly system in the car which will reduce pollution in the atmosphere, which politically will affect the taxation system as the consumers demand will increase. Economic: in the economic conditions Ferrari tries to be successful and profitable at any time because it affects its capital cost and demand. The timing and relative success of the company can be influenced by the economic conditions. The government decision plays an important role in the companys progress. Social: it depicts the demand and taste of the consumer demanded by the company which varies with the fashion and disposable income. Ferrari organization should be aware of the demographic changes such as the structure of the population by ages, affluence, regions and numbers working. Technology: the company tries to launch the latest technology for its automobiles as a competitive advantage for itself but it should keep in mind that technological breakthroughs can create new industries which might prove a treat to itself. On the other hand new technology could provide a useful input, in both manufacturing and service industries. THE COMPETITION The main competitors: in the market of Ferrari the competitors it faces are Lamborghini, BMW, Porsche and Aston Martin which has better performance and color and high quality maintenance Ferrari could face tough competition in the following. Sales and profit trend: The Middle Eastern and Far Asian sales of the competitive company has increased from 15.0-21.8% and also increased the unit sales from 2406-2430, which means the growth of 1%. The profit reports a decrease in worldwide sales for the first six months of the financial year 2009, in spite of which the company is still maintaining overall profitability among the major markets. Market Share: the company car tax efficiency, class-leading residual values and whole life costs have resulted in competitors winning a record share of the UK contract hire and leasing market. The competitors share of market has reached an all-time high of 8.8%-2.7% points up on the previous results. Target Markets: the competitors target market is upper-class people with high level of income. They focus on a person who mostly looks for luxury. In the future automobiles will have tough competition for selling the most environmental friendly vehicles. THE COMPANY Sales and profit trend: Ferrari announced a significant increase in both profits and sales for the second quarter of 2010, driven by the success of two new models, the California and 485, as well as demands for Ferrari 599 GTO. Revenue rose 8.6% year on year to EUR488m Euro and vehicle unit sales were 2.6% up at 1,615 units. Trading profit was up 10% to EUR77m. Market share: the companys total sales were 3,226 cars for customers around the world but it was 8% less compared to the year 2008. The market share price was up but was low on sales as the share increased by 10 to 32.8% in 2009. Business sector: the company was found in 1947 by Enzo Ferrari in Italy. They had highest sales was in the year 2008 despite seeing the period of recession. It has achieved one of the highest awards which were in the year 1997 (FCA) which was given in the annual meet, it also achieved the Platino Award for its reorganization. Project focus: the product of the company is an automobile, the brand name is Ferrari, it has launched models such as- Ferrari 308 GT4, Ferrari 550 Maranello, Ferrari 360 Modena Spider, Ferrari Challenge Stardale, Ferrari 430 Monza and many more. Their main segment is focused on F1 races. It mostly races in Italian and Australian Grand Prix. SWOT analysis :- STRENGTHS WEAKNESSES Extremely strong brand image Takes on new challenges on a constant basis Innovation Technology are key drivers behind the product Is looked upon as a status symbol. Ferraris business model, based around low volumes, removes the possibility of employing certain technological solutions Some models also limit their sales volumes even though a lot more demand is present in the market Due to their waiting list model, they lose out on customers to the competition A big challenge lying in wait is fuel efficiency emissions which are growing in importance every day, OPPERTUNITIES THREATS Growth in global market for high-performance super-cars due to growing economies developing nations Expansion of the brand through entering into new important automotive markets like India wherein competitors like Porsche have already set up base Enlargement of customer base maintaining Ferrari characteristics-performance, style and exclusivity. Development of technology has opened up new avenues to explore for their products. Tough competition from other iconic super car brands like Lamborghini Porsche. Automotive policies being pushed by countries continents all over the world which are being strictly enforced like the emission norms of 130g/km of CO2 are very difficult to keep up with due to the performance oriented nature of the engines built by Ferrari A competing brand like Porsche does not follow the same low volumes, high on exclusivity model which is followed by Ferrari hence sells a lot more of its products. THE COMPANYS MARKETING STRATEGY Segmentation:- demographic segmentation defines market accordingly White / Caucasian 89% Age 51.5 Married 83% Total in household- 2.94 Total of children 0.75 Education 79% Psychological Segmentation identifies market according to lifestyle characteristics Targeting: the identification of target markets based on the regional, urban, or rural locations of the customers. The company has different models of vehicles to help each individual accomplish a safe drive where ever they are coming from. Positioning: Ferrari is a car in the Super Luxury sub- category and is distinctly more expensive compared to the luxury cars such as BMW, Lexus and Mercedes. It is probably the only car maker that never worries at competition price its name is unmatchable. It is one of a kind automobile that doesnt need to be compared to other brands since it has a well-developed name in the cars market. The latest innovation is the 360 Modena, the 360 Modena combines Ferrari heritage with innovation. Differentiation/Low Cost Leadership/Focus: it is a unique automotive which painted in race red as this was the customary national racing color of Italy. The company is currently focusing on its own performance in Abu Dhabi. Growth strategy: the company opens an office in Dubai airport free zone, sales have been in double digits in the last couple of years. It is only natural to open a regional office in Dubai which is experiencing rapid economic growth along with the UAE and the entire Gulf region. THE MARKETING MIX Product:- Vehicles of high performance Carrazzeria Scagliette- program to allow clients to personalizing their cars A statement of class. Price: least expensive Ferrari: 360 Modena-$170,200 and most expensive Ferrari: Enzo- $700,000. Place:- 1 location in Vancouver 2 locations in Toronto 1 location in Montreal Location in Yorkville and Woodbridge Promotion:- F1 advertise through their use of F1 race car Brochure information about the different models. Reputation Relay on words of mouth, since the car meets a small amount of societies demand( cost)they expect customers who have interest to visit a dealership for more information Ferrari knows well of their clients. People, processes, physical evidence:- the 2010 Ferrari 458 Italia would be headline news from any car company since it is an attempt to bring forward the concept of an exotic sports car into an age more conscious of efficiency EVALUATION OF THE COMPANYS STATEGIES AND TACTICS Evaluation of the companys current position: currently the company has closed the quarter with a trading profit of à ¢Ã¢â‚¬Å¡Ã‚ ¬39 million. The decline was attributable on one side, to a less favorable product mix and, on the other hand, to the fact that newly -released F458 Italia provided a limited contribution for the period. The success of 8- cylinder models continued in the first quarter of 2010, with numerous awards and recognitions being received by the California and the F458 Italia. Evidence of the companys success:- Ferrari SpA, the maker of the $228,000 California supercar, will increase profit by more than 10% this year , helped by a surge in demand in emerging markets, said Chairman Luca Cordero di Montezemolo. Ferraris earnings before interest, taxes and one-time gains / losses, or trading profit increased by 10% to 77 million Euros in second quarter as the revenues increased. China sales increased 20% in the first half. The company was also successful in launching the Ferrari Theme Park in Abu Dhabi. Prospects for future growth/success: the luxury car maker company plans to start selling in India in the beginning of the year.2012 Ferrari 458 Italia Spider is the future model to be launched although it hasnt been officially announced, an open-up version of the 458 Italia is on its way in 2011 and the 2013, the final addition to the Italia lineup will be the Scuderia track model, which will leave behind some luxury in return for less weight improved performance. BCG MATRIX The company is large enough to be organized into strategic business sector facing the challenge. Cash cows: Ferrari has a vast market share in a slow growing industry. Cash cows require investment and generate cash which can be used to invest in other business units. Star: the company is leading in the high growth markets. They are generating huge amount of cash from the F1 races and have also used cash for launching new projects. Question marks: the company did not achieve a dominant market position, and do not generate much cash. Due to growth of the market they use most of the cash. The company by launching new sports cars and taking part in races is a rapidly growing market. Dogs: comparing to the Ferrari company sports cars other company cars have little future as they gain less cash by virtue of their low market share. CONCLUSION By analyzing the above report I can conclude the company is doing good as its sales and profit are good even in this time of recession compared to other competitive companies (i.e Lamborghini, Porsche, Maserati etc). Also their future projects are interesting which will attract the young generation. Ferrari achieves most of its success from the Formula 1 races by wining many awards, and also they have been successful in their recent launch of the Theme Park and aiming to launch more in other countries APPENDICES

The Views of Rupert Brooke and Wilfred Owen on War Essay -- Poets War

The Views of Rupert Brooke and Wil My selected poems are 'The Soldier' by Rupert Brooke and 'Dulce et Decorum est' by Wilfred Owen. Both war poems but conveying their different feelings and presenting their views of war in radically different ways. The poets have polarized views of war with Rupert Brooke writing his poem in a romanticized and patriotic way referring to the possibility of death as a noble cause, for England the land that gave him life. This is at odds to how Wilfred Owen views the reality and horror of war. The poets choice of title 'Dulce et Decorum est' which translated means 'It is lovely and honourable to die for your country' which in its self is irony, misleads you to think that the poem is going to be about how blissful it is to die for your country and how proud you should be, when the reality is so different. The title 'The Soldier' is also very misleading. The title suggests it's going to be about a solider at war and facing death when in fact it's about the glorification and pride or the author Brookes at the thought of serving his country. 'Dulce et decorum est' is a poem about Soldiers in 1st world war. The poet Wilfred Owen has created and described images in great detail. He creates the horrific images of war and the soldier's pain. The poem begins, 'Bent double. Like old beggars under sacks' Which instantly has great impact on my feelings and creates the image of the young soldier's hunched backed in pain and agony carrying enormous packs, walking slowly and haggard like old women. The pain that the soldiers are feeling is shown 'Knock-kneed, coughing like old hags, we cursed through sludge' implying that the soldiers were cold and afraid and feeling very ill... ...ormat to write a war poem in. It is written in the form of a sonnet because it is very romanticised poem e.g. 'Gave once her flowers to love, her ways to roam' 'Dulce et decorum est' was my favourite poem of the two, it's a very emotional poem and shows the harsh realities of war rather than a dreamy, imaginative poet writing about his fairy tale life style. Also it seems to me that as Rupert Brookes didn't fight in the war and lost his life to a measly mosquito bite, his poem is party deceptive and untruthful. I have come to the conclusion that both poets have polarized view on war. Wilfred Owen believed that war was a useless thing, risking young lives and seeing the pain that many of the men went through and Rupert Brookes saw war as a noble act. Brilliant and consequential thing risking your life to show you are faithful towards your country.

Evaluate and Improve Own Performance in a Business Environment Essay

1.1 Explain the purpose and benefits of continuously improving own performance in a business environment. This improves the quality of my work which in turn proves that I am capable of further responsibility. More experience and responsibility could be useful in gaining future job roles. 1.2 Explain the purpose and value of encouraging and accepting feedback from others. The purpose of feedback is to let me know what I am doing is correct or indeed incorrect as the case may be sometimes. It’s as useful to know you are doing things well and in the fashion expected as well as the areas that require amendment or improvement. 1.3 Describe ways of evaluating own work. I regularly ask my line manager and the managers for whom I administrate for feedback regarding my work performance. Also although I find it hard to self critique I try to note my own weaknesses and improve upon them, seeking training if necessary. 1.4 Explain the purpose and benefits of trying out possible improvements to own work. It is important to test out all possible improvements to make sure the method I finally choose to do the task in hand is the best and most appropriate. 1.5 Evaluate how learning and development can improve own work, benefit organisations, and further own career. Learning and development will improve my own work as it brings new skills to light and should give me a better understanding of what I am doing. Through picking up new skills, I could realise I am better able to do a job I previously felt under-qualified for, thus identifying new career options both internally and externally. It could benefit CitySprint as it means that I am better qualified and should have a better understanding of my job role. 1.6 Compare possible career progression routes. I believe the standard progression route from my current career, would be towards a senior admin role, and then eventually a management position. However having previously managed people I know this is not my forte’ so I would probably look at extending and improving the skills I have learnt in Excel, Access and our own reporting software and consider some kind of sidestep into the Business Analysis team. 1.7 Describe possible development opportunities. After completing my level 3 in Business and Administration I can possibly look for an internal move within CitySprint or externally at jobs in various sectors where they need administrators, ultimately a move to a new job, where I can best use my skills, talents and capabilities. So by developing my skills I can look at possible interesting careers and sectors that I might be interested in and develop my opportunities in securing a new position. 1.8 Justify the value of developing a learning plan. A learning plan is a way for me to set individual targets and record achievements. It helps me to keep on the path towards where I want to be in my life and my career. The reason for making a plan is to help me to be further in charge of of my future, by reminding me what I have learned and achieved. Creating my plan will help me develop more confidence in my ability to tackle new things. 2.1 Encourage and accept feedback from other people – Claire, Chrissie. 2.2 Evaluate own work and use feedback from others to identify areas for improvement. 2.3 Identify changes in ways of working needed to improve work performance. 2.4 Complete work tasks using changed ways of working. 2.5 Evaluate work completed and changed ways of working for improvements and effectiveness. 3.1 Evaluate own performance and identify where further learning and development will improve own work. 3.2 Agree and develop a learning plan to improve own work performance, that meets own needs. 3.3 Follow a learning plan for improvement to own work. 3.4 Review progress against learning plan and make updates for improving own work and further learning. Evidence supplied for section 2 and 3 in feedback and PDP printed.

Reconstruction Is The Effort Made In The United States

Reconstruction is the effort made in the United States to restructure the political, legal, and economic systems in the states seceded from the Union. The Reconstruction Era last between the years of 1865-1877. The Civil War caused destruction and several deaths throughout the South in 1865. This struggle was compensated by radical Republicans who felt that they were in control of Southerners by punishing them for wanting to preserve their southern tradition. How would the North and the South come to an agreement about the freedom of slaves? Before the Civil War and the actions of President Abraham Lincoln the states were divided amongst another. The Northern States were considered to be the Union. While, the Southern States were called†¦show more content†¦According to historians about 600,000 people died in the Civil War due to being killed or untreated diseases. Unfortunately, that calculation is awfully inaccurate for the reason that the amount of casualties during the war is still undetermined. In the year of 1863, the Civil War was being won by the Union. Abraham Lincoln’s plan first took action in 1863. He made a big announcement about a post war plan for the Southern states. Abraham offered a plan for reunification called Proclamation of Amnesty and Reconstruction. The Proclamation stated, â€Å"All Southerners could be pardoned and reinstated as U.S. citizens if they took oath of allegiance to the Constitution and the Union and pledge to abide by emancipation† . The â€Å"10 percent plan† was a proclamation made by Abraham Lincoln. The Proclamation stated that 10 percent of a population had to vote and took an oath before a state could be reintegrated into the union. Also in the year of 1863, President Lincoln and the Congress began to discuss what would take place if the Union won the war and the states became united. Moreover, Congress was the government sector that people favored when it came to making decisions about the Reconstruction plan rather than the President. Also, they felt that Congress should have the power to direct a Reconstruction not a president. A group of Republicans supported Lincoln’s reintegrated idea about the Confederate states. However, a group of RadicalShow MoreRelatedImpact Of Reconstruction779 Words   |  4 Pages The Impacts of the Reconstruction: Continuity and Change Overcoming human prejudice is one of the most difficult challenges any society has faced throughout human history, and will continue to face in the future. During the post-Civil War time period, Radical Republicans and other societal activists made significant efforts in the realm of civil rights. Throughout the time period, three new constitutional amendments were created, education was expanded, and the black population was able to participateRead MoreReconstruction Of The United States1181 Words   |  5 PagesBy 1877, reconstruction had successfully restored the United States as a unified nation. Each Confederate state had thoroughly drafted state constitutions, pledged their loyalty to the United States government, and accepted the newly Thirteenth, Fourteenth, and Fifteenth Amendments. However, reconstruction inevitably failed the South. The legislation of Radical Republicans failed to give protection to freed slaves from further persecution of whites; and it also failed to f undamentally refabricateRead MoreThe Other Side of the Enmancipation Proclamation Essay1181 Words   |  5 Pagesslavery was abolished and times changed in the united states. The proclamation declared that all persons held as slaves within the rebellious states are, and henceforward shall be free.†(Emancipation Proclamation, January 1, 1863; Presidential Proclamations, 1791-1991; Record Group 11; General Records of the United States Government; National Archives.) Plantation farmers in the south were infuriated by the new law and seceded from the united states and made a confederacy, which brought about the civilRead MoreThe End Of The Civil War Essay1090 Words   |  5 PagesAusbrooks 1 Nick Ausbrooks English 11 Mr. Lara/Mr. Doyle Dec 7 2016 Fords Theatre The end of the civil war was drawing near, and Abraham Lincoln, President of the United States of America was looking forward to the reconstruction of his country. He went out for a play at Fords Theatre. While enjoying the play he was shot in the back by an assassin . This assination changed the future of America, and affects us today. At the end of the Civil War there were very differentRead MoreThe During The Reconstruction Era989 Words   |  4 Pages During the Reconstruction era which occurred after the Civil War there was animosity between the states as well as the debate over how freed slaves should be dealt with in terms of becoming citizens with the same rights as the Constitution provided for whites. The government had to come up some type of conditions which would attempt to allow the rebellious southern states back into the union. During this time period President Abraham Lincoln appointed provisional military governors to overseeRead MoreThe United States And The Reconstruction Era981 Words   |  4 PagesThe United States of America faced great tensions throughout the 18th century because of the division on the issue of slavery, this was reflected through the way that African Americans were treated up until the Reconstruction. In the early 18th century if one was from African ancestry, they were condemned as inferior in the eyes of the white man. This would continue for over a century and a half into the Reconstruction Era in 1865. On the other hand, there was an abolitionist movement led by bothRead MoreThe End Of The 20th Century1544 Words   |  7 Pagesend of slavery throughout the United States, there are several that are viewed as signs of great change, such as the Reconstruction Era, the Industrialization Era, World War I and World War II, the Great Depression Era, and the Civil Rights Movement Era . Though, these descriptions only scratch the surface of the greater changes, they can be well-defined as events that created America today. The first major event that followed after the Civil War was the Reconstruction Era, which lasted from 1865 toRead MoreReconstruction and the Myth of the Lost Cause1511 Words   |  7 PagesAfter the Civil war, the Union was reestablished in racism. Reconstruction was the constitutional effort (13th, 14th, 15th amendment) of the north to force the south to treat the freed slaves as citizens. Reconstruction failed miserably. It is one of the least glorious parts of American history. Some nationalists like to think that there are no badly edifying chapters of America, and decide to forget about it. The civil war was one of the big three events along with the Revolution and World War TwoRead MoreReconstruction: Eric Foner1673 Words   |  7 PagesMr. Maynard APUSH Period 3 10 January 2010 Reconstruction: Eric Foner The Reconstruction time period, 1865 through 1877, was a complex time for America. The southern part of the nation was in need of governmental, economical, and social repair after losing the Civil War. Radical Republicans, Democrats, and newly freed African Americans all were influential in the age of Reconstruction. Historians have struggled to put into words exactly what Reconstruction incorporates and precisely what the motivesRead MoreTo What Extent Did The South Kill Reconstruction?1152 Words   |  5 PagesSouth Kill Reconstruction? Reconstruction was a time of great change for the now-unified United States. It started in 1865, coinciding with the Union win of the Civil War. Reconstruction is defined as ‘the process by which the states that had seceded were reorganized as part of the Union after the Civil War.† This means that the Northern states were given the task of trying to decide what to do with the states that left the Union before the war. Deciding what to do with these states sparked lots