Previous Next

Ferrari markets its research and development process

January 5, 2006

Ferrari has long been thought of as an exclusive luxury brand, that only the elite can afford, but its new FFX model takes the idea to an extreme. For a price tag of close to $1.7 million you don’t just get the car, you get a pit crew and 6 race circuit test-drives, over a two year period.

The cars are living laboratories for Ferrari, instead of the company doing all its research and development in-house, it is going outside and asking people to pay for the privilege.

There are enough multi-millionaires with over-inflated egos and bank accounts who would jump at Ferrari’s offer.

The problem is that the company isn’t just taking anyone with a spare $1.7 million lying around. They vetted every applicant closely to make sure they had the driving chops to manage the FFX.

Ferrari’s definition of exclusivity is limited to 29 FFXs and sadly, all are already accounted for.

There’s an interesting idea in here for companies looking to create new markets.

How about inviting and charging customers to be participants in your research and development process?

Related Articles

Is ferrari over-extending its brand?
Ferrari used to be an elusive brand; the only...
Ferrari goes one brand extension too far
Ferrari’s marketing team is having a lot of...
Marketing, research and development efforts
For sometime, there's been something of a gap...
A ferrari for families traveling on rugged terrain
Ferrari has been known for decades as the...