Enzo Bearzot's side went into the tournament in Spain as one of the outsiders of the more renowned nations, underlined by the fact they only scraped out of their opening group with three draws.
In the second group phase the Italians remarkably managed to defeat pre-competition favourites Brazil and Argentina before knocking out Poland in the semi-final and defeating West Germany in the final.
Throughout Italy were derided for their primarily negative tactics before finally coming alive in the second half against the Germans and lifting the trophy against the odds.
For their part this season, Ferrari have been far from the best team, yet in Fernando Alonso they have a talismanic driver who has managed to grind out results in the face of adversity.
With three races remaining, and after limiting the damage to on-fire Sebastian Vettel in Sunday's Indian Grand Prix, Alonso goes into the final three races only 13 points down and with Domenicali hoping he can pull off his own 'Italy moment'.
"It is clear at this time Red Bull has a better car, but we cannot cry," said Domenicali.
"We need to work hard. Full stop. By saying they are stronger doesn't mean we change our approach.
"I've said to my guys that in the 1982 World Cup, Italy were not the strongest team, but they won the tournament.
"The luxury we have is that in Fernando he is the number one driver, and we will fight up until the end. We believe in our chances and I'm sure so do all our fans.
"I'm always optimistic. In life it doesn't change things if you are negative, it doesn't give you points.
"If we maintain the right approach with the guys then we can maximise what we have, and this is what I've asked of my people."
The optimism of Domenicali and Alonso in the face of Vettel's four successive victories is no surprise as they have to remain upbeat.
At least Alonso pulled out all the stops in finishing second to Vettel at the Buddh International Circuit, his best result since taking the chequered flag in Germany.
There is hope for Ferrari, with Domenicali vowing to push Vettel and Red Bull to the bitter end.
"After India there is a bigger gap to the leader of the drivers' championship than before the race," said Domenicali.
"But it should not leave those who are ahead in a calm and relaxed mood.
"Fernando and Ferrari will not slacken their efforts by a centimetre, right to the end of this long season. There life will not be easy."