freitasm: Many ads rely on branding and recall as metrics instead of clicks.
Which always seemed silly to me. I have no difficulty recalling the Ferrari brand, but I won't be buying one any time soon.
I think it's different for very high end global brands like Ferrari. People aspire to own a Ferrari because of the brand, even though most never will. It's a status symbol. The reason why you have no difficulty recalling Ferrari because their marketing spend is almost entirely brand recognition.
Say they spend $200m this year for their F1 team (which is just promoting their brand to the world). If they had to advertise in specific countries they sell cars in to the specific people who are likely to buy them, it would probably cost a lot more than $200m, and over time their brand would likely diminish meaning fewer people would grow up aspiring to own one of their cars.
In the case of national brands like the life insurer its a bit different. You are likely to get life insurance at some point, but you might not want it right now (or you might be committed to another insurer right now). Brand recognition is so when you are "shopping" for their product at a later date, you remember their brand and look into it.
That kind of thing does apply to a lot of luxury brands but it specifically does not apply to Ferrari. When you think of Ferrari, you think of the F1 cars, the striking red colour. The same red colour that is associated with the colour on the products of their main sponsor. Philip Morris International is still the title sponsor of the Ferrari F1 team and the money goes to link their brand colour with the aspirational luxury products of Ferrari.
Another thing to consider about high end cars is that the people who buy them do not just buy them in order to enjoy driving them. Far more, they buy them in order to be seen to be driving them. That makes it essential that the high end car be recognised by people who would never ever buy one so that the person who does drive one gets to enjoy the experience of being seen to be driving a Ferrari/Lambo etc.
Hans't the red associated with Ferrari superseded any sponsorship link that may have been the cause for them starting to use red in the first place?
So while Philip Morris may pay Ferrari for sponsorship, and that may require them to continue to use the colour red (I had no idea), it is pretty hard to imagine them changing to another colour if the sponsorship deal ended.
But I agree with your second paragraph - they are a status symbol, and they need to spend a lot of money on branding so they remain seen as a status symbol.
blair003: Hans't the red associated with Ferrari superseded any sponsorship link that may have been the cause for them starting to use red in the first place?
So while Philip Morris may pay Ferrari for sponsorship, and that may require them to continue to use the colour red (I had no idea), it is pretty hard to imagine them changing to another colour if the sponsorship deal ended.
But I agree with your second paragraph - they are a status symbol, and they need to spend a lot of money on branding so they remain seen as a status symbol.
Red is of course the generally recognised International Racing Colour of Italy and that pre-dates the foundation of Ferrari. However, the shade of red used by Ferrari was changed in order to tie in with the shade preferred by their sponsors when the sponsor moved there from the McLaren team.
It the sponsorship deal ended, Ferrari would be free to revert to their former shade of red.
It's an ad aimed at Blokes so it uses reverse psychology...
Shows a chap who's older than their age, so the guys go "I look younger than that dude and he's only 40...what's going on here?'...click... -gotcha-
But if it was aimed at femmes, it would have a 30 year old gal and the caption would say 'Sally is 50..' results though would be the same...click... -gotcha-
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