brand extention analysis ferrari world pgp30205
TRANSCRIPT
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Brand Extention Analysis : Ferrari World Theme Park
Mehandi GoelPGP30205
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FERRARI PARENT COMPANY
• Fiat Chryslar Automobiles is the Parent company for Ferrari
• Ferrari’s share capital is currently divided as follows:
90% Fiat Group, 10% Piero Ferrari
Source: http://www.ferrari.com/en_in/
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FIAT CHRYSLAR AUTOMOBILES(FCA)• Fiat Chrysler Automobiles (FCA)is the seventh-largest automaker in the
world
• It designs, engineers, manufactures and sells passenger cars, light commercial vehicles, components and production systems worldwide
• The Group’s automotive brands are: Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, Ram, Ferrari and Maserati
Sorce:http://www.fcagroup.com/en-US/group/our_businesses/Pages/default.aspx
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FERRARI BRAND EXTENTIONS
Ferrari Museum:
Museo Ferrari Maranello,Museo
Enzo Ferrari
Ferrari World Abu Dhabi Theme Park
Ferrari Store
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FERRARI WORLD,ABU DHABI
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FERRARI WORLD ABU DHABI THEME PARK
Extention type: Product Extention
Product Category : Theme Parks
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PRODUCT CATEGORY ANALYSIS
Theme/amusement parks experiences dynamic growth, rising by 6% in 2013 value sales
Revenue of theme
parks(U.S):
$16 Billion
Annual growth:2012-2015
2.9%
Businesses:
476
Source:http://www.ibisworld.com/industry/default.aspx?indid=1646
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CATEGORY ANALYSIS
Theme park category Growth
Top amusement parks of the world-
1. Disney parks and Resorts- It is the largest operator and benefitted from increased ticket prices.
2. Universal Studios Theme Parks-It was the first major operator to raise prices when it upped its single day pass to $92, up from $89, in May 2013
3. Merlin Entertainment Group4. OCT Parks China
Source:Euromonitor International,Tourist Attractions in the USA
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PRODUCT FEATURES: Theme Park
20 Rides
4 specially for children
Other rides include rides for families and thrill lovers
Spans 200,000 m2 carrying the largest Ferrari logo ever created
The enclosed area accessible to public is 86000 m2
Large enough to fit 7 football fields head-to -toe
Has a iconic sleek red roof
Inspired by the classic double curveside profile of the Ferrari GT body
Services include Prayer rooms,Smoking Areas,Strollers,Baby Changing and Feeding Areas,atms,parking and Lockers
Source: www.ferrariworldabudhabi.com
RIDES
SERVICES
EXTERIORS
AREA
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PRICE
Bronze Silver Gold
Adults 250 AED= $67.5
350 AED=$94.5
500 AED=$135
Children 205 AED=$55.35
305 AED=$ 82.35
415 AED=$112
There are separate prices for Adults and Children as well further division into Bronze,Silver and Gold for different kinds of services with Gold being a premium service.
Sources: www.ferrariworldabudhabi.com
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PLACE Yas Island,Abu Dhabi
"There's been a growing demand for a continuous entertainment offering and the appeal of Yas Island as a leisure destination is now even higher," said Andy Keeling, park manager, Ferrari World Abu Dhabi.
Source: http://www.arabianbusiness.com/ferrari-world-abu-dhabi-move-7-day-ops-502885.html
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PROMOTION
Sponsors Promotional offers and Deals
• Ferrari World has a discounted ticket prices for children
• There are various offers and deals available year round inside the park
Ferrari Parent Brand
• Ferrari World’S parent brand had an extremely strong Brand Equity
• Strong fan following ensures that much promotion for awareness id not required.
• Mountain Dew:The Brand knows what it means to challenge the norms and what it means to walk on the wild side
• FGB: As one of the leading banks in the UAE, FGB (FGB) has Shareholder Equity of more than AED22 billion making it one of the largest equity based bank in the UAE
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TARGET SEGAMENT AND POSTIONING
Target Segment:
Behavioural: Males, who love cars, speed and power.
Demographic: Ferrari world also seeks to gain a very Family oriented atmosphere.This is evident because there are only 4 adult rides out of 20rides in total.
Geographic: Ferrari aficionados and families from UAE, the GCC, and around the world.
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Positioning:Ferrari World positions itself as a Theme Park for everyone.
It positions itself as a provider of a family oriented experience.
It also portrays the feel of speed and power; the main attributes of a Ferrari car.
The overall positioning is to satisfy the need for a sense of achievement and hence uses the tagline : ‘ Bring your winning attitude and leave as champions’
This is evident from the video on Ferrari World:
http://www.ferrariworldabudhabi.com/en-gb/about-us.aspx
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Competitive frame of Reference:
The competitive frame of reference for Ferrari World are the Amusement and Theme ParksIts direct competitors are Disney world, Universal Studios and Merlin Entertainment Group
POP’s• Amusement rides for all ages• Water Park• Theme Based• Differential Pricing
POD’s• First ever Indoor Theme Park• Theme Park by a an automotive manufacture
company Ferrai having a cult following• It has the world’s fastest rollercoaster,
Formula Rossa, accelerates to an unbelievable speed of 240km/h in 4.9 seconds
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Thank You