Marketing Strategy of Ferrari and Lamborghini
It is hard or even impossible to find someone who has never dreamed about driving or owning a Ferrari or Lamborghini car. Ferrari and Lamborghini are two powerful and legendary names in the automobile industry. They are mostly engaged in manufacturing luxurious sports cars. Ferrari and Lamborghini have many similarities in their heritage, strategies, operations, etc. but despite all these aspects they still have their specifics, personalities, and differences. Let’s look at these two legends more thoroughly and discuss their marketing strategies in detail.
Let’s start from the vision and mission statements of Ferrari
Vision Statement: “Ferrari, Italian Excellence that makes the world dream”
We can see from the vision statement that the company is extremely proud of its origin and stays true to its heritage, to the initial values typical for its background. Ferrari considers itself inspiring and powerful enough to positively affect the whole world and make everybody dream and strive for more.
Mission Statement: “We build cars, symbols of Italian excellence the world over, and we do so to win on both road and track. Unique creations that fuel the Prancing Horse legend and generate a “World of Dreams and Emotions”.”
Once more, we can see the highlighted importance of Ferrari’s background and its influence on the whole company structure and values. They give big attention to their logo, which has an interesting story behind it, again referring to Italy and its history.
Now it’s time to understand what brand archetype Ferrari belongs to.
For this matter, let’s explore the following post from the company’s Instagram page.
We can see a unique, interesting, and even romantic picture of the post. It is not very usual to see a photo like this on a page of an automobile manufacturing company’s page. The woman with the violin gives a completely different spirit and aura to the picture. She makes everything much more elegant, comforting, sensual, and attractive.
You sense movement, attraction, and interest when looking at the picture. The description of the post reminds the reader about the company’s heritage. It includes words like passion and beauty which make the product more appealing and desirable. All the discussed details of the post indicate that Ferrari belongs to the Lover brand archetype.
Now, let’s see what Lover brand archetype stands for.
Desire: attaining intimacy and sensuous pleasure
Aim: building relationships with beloved work, people, environments, and experiences.
Strategy: working continuously to become more attractive and appealing emotionally, physically, and by other possible means.
Let’s now go through the messaging levels of Lover archetype:
Level one: alluring, fascinating, and falling in love with a person, idea, product, etc.
Level two: seeking awesome sex and/or amazing romantic relationship, love affair
Level tree: committing to whom/what you love and staying true to your bliss
Level four: accepting yourself, sense euphoria and spiritual love
The Lover archetype would be favorable and promising for your brand if:
- it helps people to acquire friendship or love
- its functions include cherishing and promoting close interaction between people, beauty, communication and relates to romance and passion
- its prices are from moderate to high and it desires to be positively differentiated from lower-priced brands
Brand Archetypes. Why do we need them in practice?
All of us know that many companies have problems in presenting their key values and attitudes. Sometimes our messaging leads to misunderstanding or it does not represent what we aimed to say in reality. Here of course the importance of the brand archetypes is very crucial. How to create a good company culture? What are its values?
Here are some questions that need to be answered properly. “8 steps to a complete archetypal branding” e-book tells us a lot. We have written a book that goes deeper in these notions and reveals archetypes in specific ways. Just uncover the brand archetypes with “8 steps to a complete archetypal branding” e-book.
After identifying the archetype of Ferrari, it’s time to look at the SWOT analysis of the company.
Strengths
Brand image: Ferrari has a legacy, rich background, and heritage. Moreover, it has an extremely strong brand image and equity, which ensures its power and place in the market.
Racing world: Throughout years, Ferrari has always been engaged in the racing world, and to this day remains an inseparable and valuable part of it.
Merchandising: Ferrari has merchandised perfumery, clothing lines (jackets, hats, shoes, etc.), replica Ferrari models and at the same time the company has amusement parks.
Weaknesses
Investments: Ferrari has a very strong Research and Development department which is indeed related to very high costs. Sadly, for Ferrari not all investments in R&D may pay off.
Staff training: Ferrari spends lots of money on attaining its staff compared to its competitors. Such spending may not be beneficial for the company’s growth.
Opportunities
Portfolio differentiation: For the future, Ferrari can diversify its portfolio with new models of cars that may attract more customers from different segments and preferences.
Innovation: Thanks to the strong R&D department of Ferrari, the company can bring innovation and new technology to the automobile market and therefore become stronger and more influential.
Threats
Competition: The automobile industry is extremely competitive. Besides Ferrari, there are other strong car manufacturers like Lamborghini, Porsche, etc. which make it even harder to keep up with time.
Policies: Many countries continue to adopt automotive policies that limit companies that are producing cars with fuel engines. Ferrari is among these companies.
Now it’s time to understand what segmentation strategy Ferrari chose to use.
To find out the target segment of Ferrari, let’s watch the following commercial by the company.
We can see a very elegant, beautiful, and engaging commercial with a lot of details. Throughout the video, the plot is evolving and getting more attractive. The focus is on the two characters driving identical Ferrari cars. The cars catch everyone’s attention wherever they go and make impression on every passerby.
These two characters driving Ferraris represent the target segment of the company. They are remarkably successful, confident, with beautiful and attractive appearance. The woman and the man seem to enjoy their lives and live in the present. They are taking spontaneous actions and are ready for adventures.
After analyzing the commercial, it becomes obvious that Ferrari has chosen the Revitalizers segment to target.
So, who are the Revitalizers?
Lifestyle and Values:
Revitalizers like taking risks and have a thing for adventures. They prefer to enjoy the present moment and live it fully rather than think and worry about the future. Representatives of this segment are extremely ambitious. They are seeking power and are not good team players.
They perform better on their own. Revitalizers like to work, achieve a better status, and get ahead of others. This segment like taking care of themselves to stay attractive, healthy, and exercised. At the same time, Revitalizers enjoy spending time with friends and want everyone to think that they are doing great no matter what happens.
Shopping Preferences:
Revitalizers like to be seen using expensive products from popular brands. They are known to be among the group who adopt a product or a brand. When using a certain brand, the representatives of this segment tend to be loyal and committed to it. When it comes to saving money, they are not remarkably successful in doing it. They are more likely to take spontaneous decisions and spend lots of money.
Interesting facts about the segment:
- They watch TV all the time and are even considered TV addicts.
- Their knowledge of IT is noticeably weak, but still, they are trying to use the internet more
- Many Revitalizers aren’t self-satisfied and often think that life has moved past them
Now let’s begin from the vision and mission statements of Lamborghini
Vision Statement: “Design and produce the most reliable, appealing, and innovative luxury super sports cars worldwide, with the purpose of exceeding expectation of our customer.”
Lamborghini gives big importance to the preferences and expectations of its customers. It wants to continuously improve itself and keep up impressing and cheering the customers.
Mission Statement: “To deliver the most desirable luxury super sports cars we aim to uncompromising Quality up to the finest detail. Quality is a Core competence of Automobili Lamborghini.”
We can see from the mission statement that quality has crucial importance for Lamborghini. They choose it over everything and consider outstanding quality their biggest advantage.
Now, it’s time to identify positioning strategies used by Lamborghini.
To understand what strategies are used by the company, let’s go through the following post from the Instagram page of the company.
The picture of the post is simple but very vibrant, eye-catching, attractive, and energetic. You feel driven and powerful when you think about driving this car and get the feeling that you can conquer the world. The bright color and design of the car give you a sense of energy, action, and desire to act.
The description of the post highlights the outstanding characteristics of the car making it more unique and attractive for the viewer. It shows you that this car is outstanding, strong, innovative, and different from everything that you have seen. After reviewing the post, it can be said that Lamborghini belongs to the Hero brand archetype.
Now, let’s understand what Hero archetype stands for.
Desire: to evidence someone’s worth by using bravery and tough actions
Aim: to refine and make the world better by applying skills
Strategy: to become as qualifies, powerful and competent as possible
Let’s now go through the messaging levels of Hero archetype:
Level One: Someone is abused or intimidated and needs your help to overcome the tough situation or problem
Level Two: Growing mastery, expertise, etc. through achievement, tested or motivated via competition
Level Three: Acting like a soldier, doing what you must do, a duty for your country, community, family, and organization
Level Four: Appling your competence, bravery, and power for something that makes difference to the world and you.
The Hero archetype would be favorable and promising for your brand if:
• It can offer innovation or invention that can bring massive impact on the world
• It offers products that make it possible for people to achieve performing at their upper limit.
• It is in an intense competition with other opponents where it wants to be the first one.
After discussing the archetype of Lamborghini, let’s look at the SWOT analysis of the company.
Strengths
Brand Recall and Image: Lamborghini has worldwide recognition. The legacy and heritage of the company and its brilliant performance made it a very strong and recognizable brand globally.
Small workforce: The company has comparably small staff. Despite the quantity of the staff they manage to meet their yearly production quantities successfully and cut on employee costs.
Exclusivity: Lamborghini produces a limited number of cars each year, which makes their cars coveted and exclusive. As a result, owning a Lamborghini becomes luxury and give a status.
Weaknesses
High Price: Lamborghini cars are known for their extremely high pricing. The company’s cars are known by everyone but not many can effort to own them.
Fuel Waste: The powerful cars produced by Lamborghini eat up huge quantities of fuel. This possesses not only high costs but also the damage to the environment.
Opportunities
Correspond to the Demand: The company annual production is far less from the actual demand. Production based on demand can help them enlarge strengthen their customer base and place in the market.
Hybrid Cars: Lamborghini already has the concept of the hybrid car. The company may become even more demanded and powerful by bringing this concept to life in the nearest future.
Threats
Competition: Lamborghini is in the extremely competitive automobile industry with competitors like Porsche, Ferrari, etc. This environment makes it hard to maintain its position and grow further.
Regulations: The regulations related to automotive policies become stricter and more popular in many countries. Lamborghini may face difficulties as its cars mainly have fuel engines.
Now, it’s time to go through the segmentation strategy of Lamborghini.
To understand what segment Lamborghini chose to target, let’s look at the following commercial of the company.
This commercial is very energetic, relaxing, and contains several characters. We can see a beautiful, lively, and active woman, full of passion for life and what she is doing. She feels confident and successful. The woman seems very spontaneous and likes to make every simple ritual of the day special and engaging.
It seems like her partner shares the same characteristics and enjoys the spontaneity of the woman. Their drive and love towards life are successfully depicted with the help of Lamborghini cars that they are driving, The cars, and their colors speak about the pair’s status, energy, and love for a drive.
After analyzing the commercial and the characteristics of the black guy, we can for sure say that the target segment of Lamborghini is Chardonnays.
So, who are Chardonnays?
Lifestyle and Values:
Chardonnays are very energetic, active people who have noticeably positive and optimistic outlook toward life. People belonging to this segment are known to be open and spontaneous in life and are very picky about their appearance. Their attention is easily driven to engaging, interesting, and new things.
It is important to mention, that despite keeping with the time, heritage and values have an incredibly special place in the mind of Chardonnays. Representatives of this segment love the drive and diversity of these big cities and active social life. Their income is mainly from the middle to a high, and a good career and financial stability have significant importance for them.
Shopping Preferences:
Appearance is one of the most important things for Chardonnays. They take care of the way they look very much, and shopping is considered an effective way to do this. Shopping can be considered a lifestyle for this segment as it is one of their favorite activities to do. They are driven to trends and are aware of all the novelties in the market.
They give immense importance to the quality of the products they buy. Chardonnays prefer to buy less, spend a lot but be sure that the product is of high quality. Also, they are very driven to advertisings that are engaging, interesting, and can be associated with them.
Interesting facts about the segment:
- They use the internet all the time to get information, connect with people and share their lives, photos, memories
- They love watching TV, and especially sitcoms where the characters are associable with them.
- Their friends have bigger importance than family, and they are very emotional, committed, and loyal in relationships.
16 Personalities (why do you need them in your business?)
After you realize the power of Chardonnays you may ask now, how can I make my company desirable for them? How to pay their attention in advertisements? What are the benefits of their behavior? You can find all the answers to these questions in our e-book called “16 Personalities”. You will also find all the solutions for your marketing problems, which will obviously change your insights about Buyer Persona.
Of course this is one of the 16 personalities and with this book you will discover all of them. With knowledge of each 16 personalities you will confidently find your ideal buyer persona and change your marketing strategy to achieve new levels.
The book also gives you some hints for selling your product and negotiating with your clients.
Summing up, we discussed two legendary automobile manufacturers Ferrari and Lamborghini in detail and could find many differences and similarities between them, their operations, and strategies. I hope, this blog was a useful and engaging way to get to know these companies better. Check out the main page of our website for more posts like this.
