INTRODUCTION Value proposition of a company reflects why stakeholders should buy or invest in company goods or services. It convinces customer that product or service will add more value in their life. Every company target their potential customers so that it can grow in different markets for long term.
Value proposition The value proposition of Ferrari is to target elite,enthusiastic customers. the brand itself shows high class and quality image
Relationships By developing relationship Ferrari focuses onthe brands ethics and values to make their brand identity. •Internal relationship •Innovation and technology-Ferrari thrives on innovation and also tries to upgrade their technology.
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Cont.. •CSR activities-To minimise environmental impact, Ferrari was certified in 2001, and was upgraded according to new norms in 2007. •Go green initiative –Ferrari has taken this initiative to develop 60% of their car hybrid till 2022. They have also taken variety of environmental and eco friendly initiatives to contribute more towards CSR.
Cont.. •External stakeholders-company has developed relationship in terms of high class, luxury and advance design with customers. •Personalisation- Ferrari has also been engaged in providing personal experience to customers. for this they have developed different concept and theme parks.
RECOMMENDATIONS •Company can develop strict norms and guidelines related to manufacturing cars. •They can prepare reports on CSR activities so that goals can be compared and improvements are made in it. •It can increase their contribution more towards developing countries.
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REFERENCES •Adner,R.,2017.Ecosystemasstructure:anactionableconstructforstrategy.Journalof Management, 43(1), pp.39-58. •Chandler, J.D. and Lusch, R.F., 2015. Service systems: a broadened framework and research agenda on value propositions, engagement, and service experience.Journal of Service Research, 18(1), pp.6-22. •Flint, D.J. and Woodruff, R.B., 2014. Marketing’s service-dominant logic and customer value. InThe Service-Dominant Logic of Marketing(pp. 201-213). Routledge. •Skålén, P. and et.al., 2015. Exploring value propositions and service innovation: a service-dominant logic study.Journal of the Academy of Marketing Science, 43(2), pp.137-158.