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Marketing Case Study-Ferrari – the World’s Fastest Rollercoaster Ride
When you think of Ferrari it conjures up images of sexy red sports cars. Racing round the Italian mountains with sparkling blue sea in the background. Driven of course by the best looking guy. The brand is loved by those who may not be able to afford the car but can buy the merchandise. According to help me with my homework experts marketing students have seen the classic brand extension into clothing, sunglasses and so on. There are 28 stores around the world where the brand fan can indulge their passion. So far all pretty traditional brand extensions. Common in the automotive industry.
The latest extension of the brand is a big change. Ferrari are opening a theme park in Abu Dhabi. The roof is in the shape of a side of the Ferrari GT body.
The car maker says the theme park will host over 20 attractions, “each designed to bring to life a different part of the Ferrari story”, including the world’s fastest rollercoaster and rides for children. (Marketing Week Oct 09)
This really takes the ride of your life to a whole new level.
According to homework help answers service lessons for marketing students are to build the brand so that it has real equity and that links to the relationship it has with the consumer. Once that is established the brand then extends into new areas. The risk is to ensure that it is not stretched too thinly or it will devalue the brand.
The Value of Sponsorship
There has been a great deal of debate over marketing spend during the recession. It seems that advertising spend has declined. Recent GroupM research found although global advertising spend is expected to fall 5.5% this year to £253bn but sponsorship will see a year-on-year increase of 2%, the only discipline to see growth. The reasons are interesting. Sponsorship of football for example will give the sponsor may hours of prime time coverage. Especially if you sponsor one of the top teams. Cost of sponsorship have declined and it is a buyers market at the moment.
Sponsors are looking for proof that there is a payback. This can be difficult to judge and here companies are looking for direct links between sponsoring a football team and meeting longer term brand building objectives. It is a little easier to tie sponsorship into shorter term tools such as specific product promotions.
The difference is that with sponsorship we are actively watching the sport and can spend hours at a time watching the game with the sponsors’ brand in full view. If the sponsor had to pay for 90minutes of advertising that would be a huge cost. According to precalculus help experts the issue is that many people avoid adverts. Especially since the development of television recording such as Sky Plus. Whereas with the sponsorship we are not avoiding adverts.
The recession has much to answer for and that is shaping the marketing budget and the increased focus on marketing metrics and ROI.
More resources:
How to Study Marketing
Marketing Lessons in the Recession
Marketing Strategy for Small Businesses
Marketing Case Study-Media Multitaskers
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