Value Propositions and Relationship of Ferrari

The assignment details the value proposition of Ferrari, which reflects why stakeholders should buy or invest in the company's goods or services. It highlights how Ferrari has maintained a high value proposition by engaging with stakeholders through theme parks, loyalty programs, and CSR activities. The document also provides recommendations for improving CSR efforts, such as developing strict norms and guidelines related to manufacturing cars.

‘Value propositions’ and ‘Relationship’

Table of Contents
INTRODUCTION...........................................................................................................................1
RECOMMENDATIONS.................................................................................................................2
REFERENCES................................................................................................................................3

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.
Slide 3 notes
Ferrari has delivered a high value proposition by maintaining relationship between
stakeholders (Adner, 2017). They developed theme parks to engage with their stakeholders, to
give a sense of loyalty and belongingness.
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Ferrari means red, luxury and speed, which is how the usual stakeholders are identified.
Innovation and technology
Their effort is aimed at minimizing the impact of activities on environment. A different
team is formed to regulate developments and monitoring the emissions of cars.
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CSR activities -
Having their first solar panels in 2008 and sand recognition system in 2017, Ferrari is into
renewable energy as well (Chandler and Lusch, 2015).
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External stakeholders-
Ferrari is driven by loyalty and royalty which they offer to all their customers, ones who
own a Ferrari car, have a Ferrari perfume or just visit the amusement parks.
Museo Ferrari- Maranello
It is located in Maranello (Italy). it consists of wide range of cars, trophies, etc. about racing.
Almost 180000 visitors visit park to gain knowledge about company.
Museo Modena - Modena
It is a museum that is named after Enzo Ferrari. It shows the life work of company founder. The
gallery displays exhibition of different models that includes old, F1, sports cars, etc.
Ferrari world Abu Dhabi-
It is the largest indoor amusement park in the world located in Dubai. The various rides entertain
all age group people (Flint and Woodruff, 2014).
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Ferrari land Barcelona-
It was opened in April 2017 and consists of Ferrari restaurant, gallery, etc. it also allows people
to hire a car and ride for a day.
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 (Skålén and et.al., 2015).
 It can increase their contribution more towards developing countries.
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REFERENCES
Books and journals
Adner, R., 2017. Ecosystem as structure: an actionable construct for strategy. Journal of
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.
In The 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.
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