Marketing Planning for Ferrari: Analysis, Implementation, and Control

Marketing
Planning/Campaign
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Table of Contents
INTRODUCTION...........................................................................................................................3
ANALYSIS......................................................................................................................................3
SWOT analysis............................................................................................................................3
PESTLE analysis.........................................................................................................................3
STP model....................................................................................................................................4
PLANNING.....................................................................................................................................4
Smart Goals..................................................................................................................................4
Benefits and barriers to planning.................................................................................................5
IMPLEMENTATION......................................................................................................................5
Choice 1.......................................................................................................................................5
Choice 2.......................................................................................................................................6
Time frame and budget................................................................................................................7
CONTROL.......................................................................................................................................9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................11
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INTRODUCTION
Marketing planning refers a process of organizing which consists of several strategies
which are being developed to accomplish marketing goals. This study is based on Ferrari which
is an Italian luxury sports car manufacturer. This study is going to show importance of using
different models to analyse business environmental factors and taking competitive advantages.
ANALYSIS
SWOT analysis
SWOT analysis model plays an important role as it helps company in analysing its
internal environmental factors in order to accomplish goals (Gürel and Tat, 2017.). Some
strengths, weaknesses, opportunities and threats of Ferrari sport car manufacturer are:
Strengths
 It has strong brand image.
 It invests in technology and innovation which is the main key of its success.
 Strong presence in the racing world.
Weaknesses
 It has limited service network as well as distribution channels.
 Due to waiting list model it is decreasing position in the competitive market.
Opportunities
 Business expansion in other countries.
 Differentiating product portfolio.
Threats
 Changing customers needs is one of the main threat.
 Increasing competition due to products innovation.
PESTLE analysis
It is other effective model by which company can know external factors and their impacts
on its performance. By analysing all these factors, it can make changes in its strategies
accordingly.
Political
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 Ferrari is operating in different countries and many of them have political tension. These
tensions are limiting growth opportunities.
Economic
 Host country government is focusing and supporting industries in improving
infrastructure. This support is increasing growth opportunities for this company.
Social
 Changing behaviours and trends in demographic like migration trends, ageing population
can have negative impacts.
 On the other hand, increasing use of online and social media and its capability of
managing it is increasing customers base.
Technological
 It has ability and financial stability which makes it able to invest in advanced technology
which is beneficial for it.
 On the other hand, it is increasing competition in the industry which can create some
problems (Shalhoub, Marsh and Ippolito, 2017).
Legal
 Following all laws like employment protection and consumer protection is helping it to
improve its working environment.
 Some changes in legislations put pressure on this company to make changes in ways of
performing which can increase overall cost of the company.
Environmental
 Maintaining sustainability and increasing environmental population is putting pressure on
it to focus on maintaining sustainability.
 It is stated that Ferrari is now focusing on making its products sustainable.
From the above, it can be said that company requires making some changes in its
strategies as there are several factors which are not in its favour. So by focusing on increasing
strengths, it can accomplish goals.
STP model
Segmentation:
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