Ferrari Swot

Ferrari SWOT Analysis What is SWOT abstract? SWOT stands for strengths, weaknesses, opportunities, and threats. SWOT analysis involves identifying your businesss strengths and weaknesses, and examining the opportunities and threats which may affect you. SWOT analysis can be used to probe your organisation and its environment. Carrying out a SWOT analysis can help you identify changes that can be made to improve your business. StrengthsStrengths atomic number 18 those features of the business which allow you to operate more effectively than your competitors. Ferrari is by outlying(prenominal) the worlds most famous racing car producer that surprised the motor industry in toll of speed, performance and reliability. Ferrari stands out as the leader of Italian auto manufacturers industry, and till today represents the finest of Italian invention in the mechanics of auto propulsion. Ferrari is claimed to be a purpose-built race car which features exceptional performance. WeaknessesW eaknesses are areas capable of improvement. It helps a Company identify if its lacking skills or new products? Whether it has a higher follow base or lower productivity than your competitors? Or if there are any unpleasant truths nearly the business that need to be faced. Ferrari has emerged superbly as a really strong Brand with to the lowest degree flaws. The only factor which probably acts to its disadvantage is that, the strategy of catering to the very elite class of millionaires has no doubt added to the brand value of the product but also restricts the sales.Having al order notched out a mark for itself, probably the time is right to introduce a more economically viable category, to follow out the millions of dreams of owning a Ferrari. The other drawback is that since its such a high-end brand, and no two Ferraris are known to be alike, it makes it invitees want and wait for their dream car. It pull in ones hornss a minimum of 6 months advance booking before the client can eventually be the proud owner of this priced possession.Opportunities Opportunities refers to any interesting trends which one can take advantage of Examples of opportunities include Changes in technology and commercialises, eg the Internet Changes in government policy or regulations / decree Local and global events Potential new uses of products and / or services Use of marketing or promotional techniques to boost the business Social factors, eg population fluctuation, lifestyle changes, etc.With Ferrari having already established a very strong hold over the Asia Pacific region and Shanghai as its recent headquarters, its time for it to result into a highly progressive and lucrative market- India. With a large number of Indians making it to the Forbes list of the richest, India is squinch to be an easy market with millionaires who are capable of affording a Ferrari. Furthermore, ever since Ferrari has been introduced in China, its sales impart seen a sudden boost with Sha nghai becoming the new headquarters of Asia Pacific.Once Ferrari enters the Indian market it is bound to capture a wider and more lucrative audience. Banking on the brand name that Ferrari has notched for itself, I would really like to see Ferrari also reaching out to the high and upper middle pack instead of just the very high classes. Indian market is very much in frontier with the Chinese market with a lot more scope for flexibility, hence all the key strategies adoptive by the company in China is bound to reveal an even more astounding result. equivalent China India is also a very densely populated country with a lot of westbound influence.The past 5 years census has also seen a remarkable lift in the musical accompaniment standards and lifestyle of people. A majority of the population no longer aspires for just comfort but is ready to go that extra mile to be in the lap of luxury. And what speaks of luxury better than Ferrari. Furthermore, Formula 1 is expected to reach In diaby 2011 hence, it would serve as major promotional strategy for the Company Threats Threats can be external or internal, and are anything which can adversely affect your business.External threats could be inflation, new legislation, or a new competitor in your market. Internal threats could include a skill or supply shortage within your organisation. Indian market seems to be risk free market for Ferrari with only increase opportunities. The only possible difficulty that Ferrari might counter would be in terms of modifying their designs to cope up with the infrastructure of the country, I terms of roads. Ferrari is known for its low body which might hinder movement in case of speed breakers and puddles during rainy season.Other factor which should be taken into consideration would be the government policies and legislation regarding the high import duties. This regulation on the part of the government will have kittens the service cost and prices of spare parts. Personal swot a nalysis Strength Passion is the key lawfulness . Looks at things in a different light . Experimentative in nature . Believes in hard work. apace at learning new things Makes friends easily Loves to interact with different people Weakness