Loading presentation...

Present Remotely

Send the link below via email or IM

Copy

Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.

DeleteCancel

Make your likes visible on Facebook?

Connect your Facebook account to Prezi and let your likes appear on your timeline.
You can change this under Settings & Account at any time.

No, thanks

Nascar Marketing Case

No description
by

ignacio irazabal

on 11 August 2015

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of Nascar Marketing Case

Situation Analysis
Group D


Internal Environment

• Formed by William France in 1948, still remains under the control of the France family

• Early success built on differentiating its brand while also co-branding


Performance
: 2nd in popularity to NFL

• Organization is willing to share the spotlight with the drivers

• Innovative branding strategies

NASCAR - History
1950
1960-1970
Present
1990
1948
1930
Partnership with General Motors and Ford
NASCAR tracks began to emerge outside of the Southeast
Unprecedented growth due to bigger quantity of attendees, media coverage, new emerging stars and new sponsors
NASCAR began with the vision of one man, William Henry France
First race held by the organization , NASCAR was officially incorporated
+
+
New sponsors, RJ Reynolds Tobacco, Pepsi, Goodyear tires, Union 76
Issues related with diversity, financial concerns, environmental impact, etc.
Customer Environment
• Most brand-loyal consumers to be found in U.S.

• Sponsors find co-branding with NASCAR extremely profitable

• “Drive for Diversity”

• 40% of fans are female, target market 18-34 old males

• 1 in 3 U.S. adults are fans, or 75 million people

• Races are broadcast to 167 countries

•$2 billion in licensed product sales: watches, clothes, auto accessories, etc

External Environment

• EPA to NASCAR “Please stop using leaded gasoline."

• Recession Trifecta

• Recent Harris Poll places Auto Racing as 4th most popular US sport

• Metrosexual trend in the early 2000s, the “feminization” of the modern male – Has this trend reached its end?

• Technology advances make the cars more safer and aero-dynamic than ever

SWOT
Strengths
Weaknesses
Opportunities
Threats

#1
#2
Create a rewards program that is appealing to young and diverse consumers, by meeting customers’ wants and needs
#3
Alternatives
Frequent customers earn points, which translate into some type of reward.

Whether it’s a discount, a freebie, or special customer treatment, customers work toward a certain amount of points to redeem their reward.
Structure non-monetary programs around customer’s value
Understanding what customers really perceive as value and sense of worth. Focus on understanding cultural background
Create urgency with time sensitive promotions
Throw time-sensitive offers out to customer from time to time.
Point system

Several strategies may be considered. Marketing research may be conducted:

This would address some of the opportunities related with diversity and price.

Problem:

How can NASCAR reinvigorate the lost fan base while appealing to a new younger and more diverse market?
ALTERNATIVE 3:
MARKETING THE NASCAR EXPERIENCE!

Strive for NASCAR’s “cool” factor

Appeals to new demographic

Affordability and convenience

Draw interest towards the sport

Sense of community

Implementation
Evaluation and Control
Immediate:

Increase in race attendance

Increase in overall ticket sales

Future:

Increase 5% -8% in TV ratings
Questions?
Reality show:
“Real Housewives of NASCAR”
Choose 5 families within NASCAR who have ‘entertaining’ lives to be filmed.

Create situations and circumstances for the families to interact.

Partnership with Bravo, who has successfully developed, managed, and delivered multiple shows.

Time
: 1 year for development
Source:
http://bravoratings.com/housewives/

Source:
https://www.quantcast.com/bravotv.com
Marketing the NASCAR Experience
NASCAR can conduct concerts of singers, artists from different backgrounds

To appeal different ethnicities

Awareness among the youth as well

Market itself as a weekend getaway
Side event for fans to meet and greet with the Drivers and their wives or girlfriends
Bundle the tickets, not just the events, but also the hotels

To make the experience even more overwhelming, Fans who buy these packages should be given NASCAR Souvenirs

Community of new fans

Conduct raffles, lucky draws, and promotional events to enhance the experience and make the fans keep returning for more

Brand equity

More than 60 years of history

Loyal fan base (75 million fans)

Second in popularity to NFL

Number one spectator sport in America

Strong branding alliances

Presence in movies and television

International presence

Licensing and merchandising rights

To many sponsors

New teams have a hard time attracting sponsors

Median income of the fans

Lack of safety and environmental measures

Depends upon business abilities of a few
Economic situation

Automakers reputation

Competitors can steal potential fans

Highly dependable of the Sponsors

Control of TV networks

Government regulations

Held races in other countries

Attrack a more diverse market

Recover the fan base

Co-host events with other companies

Incorporate new elements to the marketing strategies

Source:
http://blog.hubspot.com/blog/tabid/6307/bid/31990/7-Customer-Loyalty-Programs-That-Actually-Add-Value.aspx
Full transcript