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Formula 1
Ferrari makes its mark, in more ways than one
A radical new Formula One concept… and then being topped by Lego in terms of brand power – just another 24 hours in 'being Ferrari'.
Charles Bradley
Edited: Feb 17, 2015, 3:21 PM
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Plastic building blocks. Fizzy drinks. Expertly-crafted thoroughbred Italian sportscars. It's amazing to think that, given their diversity, that such different products could ever be compared in the same arena, yet that is what a recent branding report has revealed.
According to Brand Finance, in terms of brand 'power', Lego > Red Bull > Ferrari. Lego Movie and Lego Star Wars have enhanced its standing; in contrast, Ferrari's lack of world championships in recent years have blunted its edge.
Big ideas in Maranello
Incoming chairman Sergio Marchionne has huge ideas on how to improve Ferrari's profitability in the road car sector (as evidenced by the Alfa Romeo badge on the new F1 car), and has installed former Marlboro man Maurizio Arrivabene to turn around its fortunes on the track.
His flair came to the fore today, as Ferrari released an image of a radical Formula One concept car, and it was surely no coincidence that the Formula One Commission was meeting in Geneva today to discuss the future direction of the sport. On the agenda: bigger tyres, less aero, 1000bhp…
It's a divisive concept, witness over 100 comments on our Facebook site after just a couple of hours. Some love it, some hate it – but at least it got a reaction.
Let the good times roll?
It's a fascinating time for Ferrari right now, with the Fernando Alonso era over and Sebastian Vettel's time just beginning.
In Kimi Raikkonen it has one of the most popular drivers on the grid, and if he could recapture his former glory days there's the potential for the marque to be the most exciting on the grid once again.
It's a brand that is built on sporting excellence, and its strength goes hand in hand with its performance.
But it can only build that on the blocks it already possesses, in terms of technical expertise, understanding of its SF15-T, power from that previously troublesome V6 hybrid, and the drivers behind the wheel.
In that respect, it's a bit like Lego after all…
Read also:
- Why Formula One has failed to conquer emerging markets
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