INTRODUCTION
Lamborghini is an Italian brand. It is the manufacturer of luxury sports cars owned by Volkswagen through its subsidiary brand division AUDI. The company was founded in 1963 by Ferruccio Lamborghini. The company is based in Santagata bolognese, Italy. It has produced one of the most finest and modern cars in this era. The company is the market leader in offering luxury sports cars and. is widely known for its high-quality products. Like leading brand Ferrari, it has given Italy the fame for producing some of the fastest, and most eye-catching cars on the planet. The company was established to compete, Ferrari, and many other top-notch sports car brands.
This article will highlight the evolution of Lamborghini. It will also discuss salient features of the brand, marketing strategy, facts & figures, and much more.
Lamborghini BRAND- HISTORICAL BACKGROUND
In 1963, Ferrucio Lamborghini established the company. He came up with an aim to produce a refined grand touring car and competing brands like Ferrari. In 1960, Lamborghini launched its first model 350 GT. The company came with an improved model like the Miura sports coupe in 1966. Lamborghini had to face the setback of going bankrupt in 1978 due to the impact of the 1973 worldwide financial downturn and the oil crisis.
Historically, the company was famous for its tractors. They are still manufactured today. The company was founded as its competitor Ferrari was (as per experts) using poor quality tractor clutches and poor customer service.
Later Jean-Claude and Patrick Mimran, two brothers acquired the company in the 1980s. They expanded the company by making heavy investment in revamping the company’s overall outlook. The company came up with a Jalpa sports car and the LM002 high-performance off-road vehicle.
In 1987, The Mimrans sold Lamborghini to the Chrysler Corporation. Chrysler later sold Lamborghini to Malaysian investment group Mycom Setdco and Indonesian group V’Power Corporation in 1994. The company was later sold to the Volkswagen group in 1998. Volkswagen group placed it under the division of Audi. Since then, the company saw the introduction of new products and model lines improving the brand’s portfolio and overall productivity.
LAMBORGHINI-BUSINESS MODEL
The company’s business model revolves around offering luxury products mainly sports cars to its customers. It also segments its products to a limited market where most customers are ready to buy its expensive but quality products. The company is known for offering speed, high performance, and making a global reach in the market of sports cars. It has one of the fastest engines in the world and without any doubt, it offers one of the most expensive sports cars automobiles of this modern age.
FAMOUS LAMBORGHINI MODELS
These include:
Miura (1966 – 1972)
Islero (1968 – 1969) and Urraco (1972 – 1979)
Espada (1968 – 1978)
Jarama (1970 – 1976)
Countach (1974 – 1990)
Jalpa (1981-1988)
Diablo (1990 – 2001)
Murcielago (2002 – 2010)
Lamborghini Gallardo (2003 – 2013)
Lamborghini Aventador (2011-on)
Lamborghini Urus (2012)
Veneno (2013)
Asterion (2014)
Huracan (2014-on)
CONCEPT CARS BY LAMBORGHINI
Since it enjoys a strong brand image, it converts this advantage to introduce new concepts and designs. The aim of these measures is to prove the point the company is serious in introducing new concepts in the automobile industry and to let its customers know that there is something special always to come in the near future. These concept cars from the past and the present include:
Lambo V12 Vision Gran Turismo
Terzo Millennio
Asterion LPI910-4
Egoista
Sesto Elemento
Estoque
1999 edition Canto
ItalDesign Cala
Resonare
Insecta
Sian
CURRENT BRAND IDENTITY OF LAMBORGHINI
The company is obviously best known for its cars. But the company has expanded the reach of the its brand beyond these small, rarefied world of racing fans and lovers of supercars.
The logo of the company was created taking inspiration from Taurus, the bull zodiac sign of the company’s founder. He was very passionate about bullfighting that reflected through the Lamborghini logo and car models. .The bull represents power, fortitude, and, consistency.
Furthermore, the shape of the Lamborghini logo depicts the coat of arms and demonstrates a gold snorting bull on the front. Being a maker of high-quality sports cars, the logo possesses immense recognition globally along with other car logos.
INSPIRING STORY OF THE BRAND
The company has amazingly recovered from many setbacks of the past. Who would have imagined that a company that faced bankruptcy at one moment will come so strong and compete with the top sports brands of the world? Not only the company came up with improved product and brand identity but has also established its goodwill among the customers as a high performing luxury brand. The company most significantly has introduced SUVs making it the unique and standout brand with its competitors.
MARKETING STRATEGY
The marketing strategy of the company evolves around offering cars with superior performance, better driving comfort, advanced braking system, etc. It promotes itself using modern means like social media, digital marketing, and, niche marketing. The brand offers its products at a high price justifying its quality products and brand’s goodwill. The products of the company are targeted mostly to high paying customers. The company has a global reach in almost all developed economies. The brand offers a masterpiece of classic engineering and precision manufacturing through its products.
The company has used following means for its marketing purposes:
Youtube
Magazines
Motor shows
LAMBORGHINI & NEW TECHNOLOGY
Like any successful brand, the company is coming up with modern technology and improving its existing products by using technology. The company has thoroughly analyzed the market trends about the use of technology and has deployed the same for keeping or improving its market share. It has, for example, launched electrical SUV s as proof of this and is working on many initiatives to offer its customers globally high tech products. The company is coming up with the most advanced hybrid cars of this modern age.
The company has not stopped manufacturing tractors. It is still offering quality tractors showing the company’s past glory and the identity it was known for.
STATS AND FACTS
Founder: Ferruccio Lamborghini
Headquarters: Sant’Agata Bolognese, Italy
Revenue: 1.7 billion euros ($1.92 billion) as per 2019 stats.
CEO: Stefano Domenicali
Brand value: $11 Billion
Slogan: ‘We are not supercars. We are Lamborghini. ‘transfer a value of creative, freedom living style.
ADVERTISING
Lamborghini focusses on modern rather traditional means of advertising campaigns. The brand unlike other competitors is using social platforms for offering its product to its potential customers. In addition, the company’s cars can be witnessed in many movies which work as a marketing campaign for the company. But, one thing is obvious. The brand spends a hefty amount by offering its cars to movies for promotional purposes which makes a clear statement about the different approaches adopted by the company as compared to its competitors.
CONCLUSION
Lamborghini has no doubt a strong brand value. It is highly valued by the customers. The company has emerged from its critical moments to a market leader in terms of offering luxury products to its customers. It is eyeing constantly new markets and, the ways of coming with new and improved products. The automobile industry requires innovation. This requirement is also kept into consideration by the company as it is now offering electrical cars for future use.
The brand has been trying for nor achieving a great market share but, it is also keen to increase its goodwill globally. Lamborghini stands by its slogan and vision which can be seen in the previous, current, and future products of the company. The portfolio of the company is strong enough and, the team it employs carries one of the greatest mindsets in the world.