This is something that has always interested me. Supercars are businesses just like anything else, they need to make a great product and people will pay more money for how much better it is than the competition… Except supercars aren’t just your average business. The brand is everything. Similar to what Apple has done in the technology business., they have brought in a product that is similar to the competition but it has grown into one of the most successful companies in the world. Supercar brands are looking to do something similar. Below I’ll talk about a conversation I had this week with a business specialist in this area.
This week I meet up with Josh from the branding division in London UK. Josh is one of the specialists at the branding division. He specialises in coming up with the campaigns that will generate businesses the most exposure in a short period of time. Now these are created based on a number of things including the type of product the individual company wants to promote, the RRP for this product (for example a supercar with £200,000 price tag is going to be promoted in a different way to a product priced at £10), and of course the budget the company has for the branding campaign.
I also had a lengthy chat to him about the importance of the brand. Everyone in the world now knows about the prancing pony, but why is that? Well he had some good stuff to talk about and this is essentially what he said about why Aston, Ferrari and the like are so successful.
It’s difficult to relate a supercar brand to a generic business brand for 2 reasons. The first is the price. Coming in above £100,000 for pretty much any brand new supercar means you are automatically removing 99% of your target market (95% of people who buy supercars are also men, which means the target market is already more specified.) The second reason is where this target audience “hangs out.”
Something I often have to explain to people in the office that recommend a generic type advertising campaign for a company that is anything but generic (Ferrari for example.) Is that the individuals sitting in front of a TV can’t afford a Ferrari and hence if we ran a campaign we would be wasting a lot of money marketing to the complete wrong type of people. Instead you want to target individuals directly. People who earn over £50,000 a year or even £80,000 a year. As anyone who earns anything less can’t afford the product anyway.
This is why you never see a supercar advert and never will. There product doesn’t want to be mainstream. They want to be the best of the best and as a result there is no reason to try and promote through generic marketing types. That in itself is the power of these brands. Have you ever been amazed when you see a supercar on the road? Well you’d find it a lot less impressive if you saw adverts on TV every week for them.