Reilly Newman | When it comes to luxury supercars, the Lamborghini brand is a market leader. From their iconic designs to their flawless performance, these sports cars are top shelf when it comes to vehicles. “Lambos” weren’t always $300,000 sports cars, they actually had a much more humble beginning with utility tractors.
Lamborghini started as a designer and manufacturer of cost-effective tractors. (Don’t believe me? They still do today) First made in 1948, these tractors became known for their great price and incredible quality. As the success from these tractors built the wealth of the founder, Ferruccio Lamborghini, he soon was able to drive some of Italy’s finest automobiles like Ferraris.
Ferruccio Lamborghini became known for tinkering with his Ferraris and doing subtle upgrades to them in his workshop. Getting the sports car just right is what led him to venture to try to create his own. This is when the Lamborghini was born.
The amazing thing here is that the brand of Lamborghini has held up serving both tractors and supercars. Ultimately, the brand made the transition from humble tractors to luxury sports cars. This power comes from their perception of high-quality machines that the Lamborghini brand has enveloped.
Lamborghini has been able to accomplish what many brands are unable to successfully do. The key to this successful switch comes from the “why” of the brand being rock solid while the how/what can change. This enables the brand to maintain its core but change what it sells and how it does so.
A fantastic more contemporary example of this is Apple. They have gone from computers to media devices and phones to headphones and watches. Now Apple is distancing itself from a product business (because it has saturated the market) to a service-orientated business that will offer everything from wellness and health to entertainment and financial services. Yet, the WHY of the Apple brand and what it means to the consumer has stayed intact. The how/what has changed dramatically over time for the business and has even changed the world too.
The Lamborghini brand made the jump in both product type and price point. This elevated the brand and empowered it to use its quality perception and Italian roots to penetrate the luxury supercar market with success. The core of the brand maintained, it just changed “mediums” as it transitioned.
The power of a strong brand and the why of a brand are apparent in these scenarios. This is something to consider for your own business as it is highly unlikely that you will forever be selling the same thing forever. Markets shift, technology changes, and businesses have to evolve every five or ten years, even in just 24 months things can shift and your business must be prepared. The more clarity you have in your brand and WHY, the more prepared you will be and the more you can use these shifts to your advantage.
