I don't know how I feel about this Ferrari cell phone. On the one hand, I love miniatures, on the other hand the phone looks kitschy as hell. But that's just my opinion. The little Ferrari has 2.2 inch touch-sensitive LCD display, USB connectivity, MP3 and picture and video camera. This little toy will set you back about $190.
Implications - Ferrari is a brand that has gained huge popularity with their sports cars. Branching out into different business categories such as phones shows that a company with a loyal following has the ability to try out new ventures. Since people already love the brand, they are more likely to be excited about non-car and more affordable items that the business is coming out with.
What's Driving This Trend
- Brand Diversification
- Companies with a loyal following can expand into new ventures outside of their traditional product offerings.
- Luxury Technology
- Luxury brands can tap into the technology market and offer high-end products in addition to their traditional offerings.
- Miniature Electronics
- Miniature electronics offer unique and novelty value and can cater to a niche market of collectors and enthusiasts.
Who This Affects Most
- Luxury Goods
- Luxury goods industry can explore technology as a complementary product offering to their traditional product lines.
- Electronics
- The electronics industry can target niche markets with unique and novelty products.
- Collectibles
- The collectibles industry can expand into miniature electronics that cater to collectors and enthusiasts.
