The brand positioning perception of Ferrari is a “global brand,” so consumers spending may say, “I am a global citizen – I can buy whatever anyone else in the world can buy” (CNN). Ferrari’s brand is a status symbol consisting of extreme performance, driving, design, and power. Consumers perceive Ferrari as “I’ve made it, but I’ve still got it” (CNN). So, it comes as no surprise that Ferrari is integrating in India – the world’s next economic superpower. Ferrari’s presence towards the burgeoning super-rich increases as, “the move marks the 58th market for the brand, which has steadily been growing its presence in Asia” (CNN). Entering India causes key parts of the business plan to surface for this initiative; accordingly market examination, operations, and social responsibility are examined. The target market in India consists of an extremely narrow percentage of the population capable of affording a supercar. Penetration of India’s market causes an even greater disparity in wealth in a country where, according to the World Bank, “27.5% of the population lives below the national poverty line and 16% do not have access to sufficient clean water” (CNN). Business operations should be considered in terms of how Ferrari will deliver and produce the products in India; meanwhile, social responsibility should be heightened as labour costs in India are significantly cheaper causing consumers to question the ethics of the company.
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Ferrari appoints Shreyan’s Group as official importer in India.
