Premium Essay

Nascar Memo

In: Business and Management

Submitted By CptSquawky
Words 808
Pages 4
To: Allison Hardy
From: James Adkisson
Subject: NASCAR Analysis

The purpose of this memo is to analyze the strengths and weaknesses of NASCAR’s brand management and web site, identify environmental forces that pose a threat to NASCAR, and propose a viral marketing plan to attract more female NASCAR fans.
Brand Management
Starting in the early 1990s and continuing for the next 15 years NASCAR did an exceptional job of managing their brand. NASCAR understood the loyalty of their fan base and the depths to which their fans supported the sport in the marketplace. According to NASCAR’s own licensing study, 72% of their fans were more likely to buy a product if it had the NASCAR logo on it; as evidenced by the sales of NASCAR branded goods increasing more than 250% in just 10 years. NASCAR leveraged that loyalty to secure lucrative sponsorship contracts. They also promoted fan loyalty with two-day tailgate events taking place before the races. These events were engineered to provide fans with the unique experience of actively participating in the sport they loved through interactions with NASCAR sponsors.
NASCAR’s downfall in managing their brand comes from not considering if their growth rate was sustainable. Intent on chasing after ever-increasing revenues through sponsorship and trying to capture value from the elusive casual fan, NASCAR seemed to disregard the potentially harmful consequences this could have for their brand. Astronomical sponsorship fees made it impossible for anyone other than huge corporations to support NASCAR; leading to fewer owners managing more teams, a configuration that does not promote fan loyalty. In trying to expand their fan base, NASCAR changed the points system of the races, increased the speed of the races, and added more races to the season. While successful at first, the fans have turned away in recent years due to the...

Similar Documents

Free Essay

Junk

...Nascar (National Association for Stock Car Racing) is a world apart from Formula One. Both are exceedingly popular, yet they lie at diverse ends of the motor sports spectrum. Most people who have an obsession with cars and racing may know about Nascar and Formula One, the two most respected names in motorsports today. At first glance, Nascar and Formula One seem very similar; however, a closer look reveals many differences such as aerodynamics, mechanical caliber, speed and horsepower, race tracks, fan base, and histories. Auto racing is a popular, fast paced sport. Nascar and Formula One draw large audiences on television, radio and at live events. Spectators are drawn by the danger, speed, competition, and displays of automotive machinery and the drivers behind the steering wheels. However, Nascar and Formula One are separated in numerous ways. The car chassis style is so different that they conduct races in notably different ways and the organizational rules that they must follow, makes for a different driving experience. Formula One vehicles depend so much on aerodynamics, passing other cars on the track is not a main part of the Formula One racing strategy. Formula One races aim to be fast, but the cars do not change positions, very often. Nascar, on the other hand, rely on passing other cars on the track, to run and win the races. While Formula One may have too little passing abilities, Nascar may suffer from too much of it. Furthermore, bumping or trading paint, is......

Words: 261 - Pages: 2

Premium Essay

The Pros And Cons Of Bootleg Alcohol

...One of the first organized stock car races took place on June 19, 1949, set up by NASCAR National Stock Car Auto Race. (www.history.com). Some of the most talented and highly revered drivers came from early stock car racing, names like Red Byron, Louis Ossinski, Fonty Flock, and Paul Pappy. Along with NASCAR, some other racing associations that came from the bootlegger community were; National Hot Rod Association, National Auto Sports Association, and the Automobile Racing Club of America. All of these groups have in some way share or form has a connection to the small races held by...

Words: 1289 - Pages: 6

Free Essay

Compare and Contrast

...of the United States is the National Association for Stock Car Auto Racing more formerly known as NASCAR. Some people may not know about the other auto racing series that occasionally comes to the United States to compete. That series is known as Formula 1. NASCAR and Formula 1 have stark differences in where they race, how they race. Did you know that both series average speed is faster than the speed needed for a Boeing 747? A Boeing 747 requires between 150 to 200 miles per hour to take off. Right off the bat, the differences start. One of the biggest differences is the locations that these two series race. NASCAR primary races in the United States but does occasionally race in Mexico and Canada, although they did not during this past year’s season. NASCAR races in 23 cities around the country hitting many of them twice a season (2013 NASCAR Sprint Cup Series TV Broadcast Schedule). Formula 1 currently races in 19 different countries, spanning four continents and hitting each track only once during the season. NASCAR has an average of 36 races a season, while Formula 1 currently has 20 races a season. The next comparison is the vehicles that are used to provide all of the entertainment value that we see on television on a weekly basis. NASCAR drivers race in a closed wheel, closed driver compartment car. Due to NASCAR’s ongoing commitment to safety and entertainment NASCAR recently developed a brand new type of car for their series called the Generation 6 car, or Gen 6...

Words: 645 - Pages: 3

Premium Essay

Nascar

...FACULTY OF ECONOMICS AND MUALAMAT BACHELOR OF MARKETING FOR FINANCIAL SERVICES MARKETING STRATEGY CASE 4: NASCAR (A BRANDING SUCCESS) PREPARED BY: NAJIHAH BINTI AHMAD ABDILLAH 1110967 Report Submitted to Mrs. Azlinda bt Lahadzir SEMESTER V SESSION 2013 CONTENT Introduction …………………………………………….. 3 History ………………………………………………….. 4 Key Issue ………………………………………………. 5 NASCAR’S challenges ………………………………... 5 NASCAR’S Branding Strategy………………………… 6 Questions and Answers ………………………………... 7 - 9 Conclusion and Recommendation …………………… 10 INTRODUCTION The National Association for Stock Car Auto Racing (NASCAR) is a family-owned and -operated business venture that sanctions and governs multiple auto racing sports events. It was founded by Bill France, Sr. in 1947–48. As of 2009, the CEO for the company is Brian France, grandson of Bill France, Sr. NASCAR is the largest sanctioning body of stock car racing in the United States. The three largest racing series sanctioned by NASCAR are the Sprint Cup Series, the Nationwide Series, and the Camping World Truck Series. It also oversees NASCAR Local Racing, the Whelen Modified Tour, the Whelen All-American Series, and the NASCAR iRacing.com Series. NASCAR sanctions over 1500 races at over 100 tracks in 39 US states and Canada. NASCAR has presented exhibition races at the Suzuka and Motegi circuits in Japan, Mexico, and Calder Park Raceway in Australia. NASCAR's headquarters are located in Daytona Beach, Florida, although it......

Words: 1985 - Pages: 8

Free Essay

Wrc vs. Nascar

...these vehicles for more than just cargo and passengers. By the beginning of the 20th century, automobile racing took off in both Europe and the United States with each having their own fledgling racing circuits. This trend continued up to present time with two of the world’s most popular racing series: WRC (World Rally Championship), which was launched in 1973 by the FIA (The International Automobile Federation.) and NASCAR (The National Association for Stock Car Auto Racing), which was founded by William France, Sr., in 1948. Although both WRC and NASCAR are extreme and captivating in their own respects there are great differences and a few similarities in the skill level of the drivers, the cars, and the fans. First, is the huge gap in the skill level between the WRC driver and the NASCAR driver. WRC drivers are some the most versatile and talented drivers in the world. WRC drivers have an endurance that cannot be matched. Each rally is a 3 day event covering typically 15 to 30 courses, or stages, which together can add up to thousands of miles. The NASCAR driver’s one day stint requires him to tackle the course, which is a combination of boring straightaways and left turns repeating over and over, until the required 500 laps have been met. This pattern continues on for a mind numbing 3 to 5 hours. A WRC rally driver’s...

Words: 1116 - Pages: 5

Free Essay

Nascar

...History of NASCAR Did you know NASCAR was started because of a historical event in America’s history? The reason I have chosen this project because I grew up watching NASCAR every Sunday, and helping with my dad’s best friend’s race car. The thing I was trying to accomplish in this project was to get a better understanding of the background and history of NASCAR. The process I took in accomplishing my goal was writing a rationale, writing down research questions, and finding Wisconsin’s state standards that I would meet in my project. What I hope that the reader takes from this paper is all of the things that helped NASCAR get started, what they raced on back then, and how NASCAR changed over time. In this paper you will read about the prohibition, Bootleggers tricks and advantages[, Bill Frances Sr., history of NASCAR, Technological advancements, racing legends, aerodynamics, How NASCAR got so big and Wisconsin’s traditions. NASCAR has an interesting background. It all started with bootleggers racing from town to town delivering their moonshine without getting caught. NASCAR is linked to American history and it comes with some interesting tales. This paper will tell you everything you need to know about NASCAR and aerodynamics of the car. Some things that this paper will contain are famous drivers and their impact on NASCAR, how safely has changed over time, how NASCAR got started, what NASCAR drivers first raced on and why it changed over time, how NASCAR fit its time......

Words: 2703 - Pages: 11

Premium Essay

Race Car Driving Informative Speech

...Dale Earnhardt Sr. Hi, I’m Dale Earnhardt Senior! Do any of you watch race car driving? Have you ever been to a NASCAR race? NASCAR stands for National Association for Stock Car Auto Racing. I was born in April 1951 and grew up in Car Town, North Carolina with my parents Ralph and Martha Earnhardt along with my brothers and sisters Kaye, Kathy, Randy, and Danny. My daddy worked in a cotton mill in Kannapolis and did some race car driving on the side. My daddy didn’t graduate from high school with a diploma and told me I needed a good education so I could one day support my family. School was hard for me and I would rather hang around the shop with my daddy where I would watch and learn how to take cars apart and put them together, change the oil, grease the...

Words: 1567 - Pages: 7

Free Essay

Is Nascar a Sport

...stress on the body, and not any practice needed to participate in this. This is one of the main reasons that most people believe that auto racing is not a sport. The type of racing mentioned above is not what most people consider auto racing and neither do I. Auto racing happens on ovals, drag strips, and road courses all across the world. No matter what kind of race track a driver is on it is demanding, both physically and mentally. The type of auto racing most people criticize is whether NASCAR is a sport or not. I understand why people would say that. It doesn’t take more than basic knowledge to drive a car; millions of people also drive a car on a daily basis. These people think driving a commute car and a NASCAR car is the same. Try driving a car which is heavier than a normal car and goes almost three times as fast. The National Association for Stock Car Auto Racing, most commonly known as (NASCAR) is fairly new to the kingdom of sports. There is a huge controversy about whether NASCAR is a sport, some people say it is not, but I say it is. Any activity that involves competition for me is a sport. The true definition of a sport, according to Webster’s dictionary is “An activity involving physical exertion and skill and which an individual or team competes against another or...

Words: 750 - Pages: 3

Free Essay

Management

...Synopsis of Companies Identified Corey A. Moore: The United States second leading and largest insurance and Holdings Company is Allstate Insurance Co. Originating back in 1931 as the brainchild of Carl Odell an insurance broker and Robert Wood, CEO or Sears and Roebuck Company; the two men thought it would be an excellent idea to start a mail order auto insurance company. Today Allstate has assets totaling over $156 billion altogether, (Funding Universe, 2011). Allstate Insurance has been so successful throughout all these years is adaptability in meeting the needs of customers, which gives the company its competitive edge, and its strong focus on honoring diversity. A main core value at Allstate Insurance Co. is inclusive diversity. (Allstate Insurance Company, 2011) states the following in inclusive diversity are: “Workforce Diversity is to sustain an effective organization that drives a high-performance culture, which in turn enables higher productivity, higher morale, more innovation, collaboration and risk taking. Marketplace Diversity is committed to growing our business in the multi-cultural marketplace. Allstate recognizes that there are a variety of factors which contribute to a customer’s decision to engage with our company. Community Diversity understands that communities are more than just places to live and work. They're social networks that support the economic, educational and political interests of their residents Supply Chain Diversity......

Words: 811 - Pages: 4

Free Essay

Nascar

...The National Association of Stock Car Auto Racing Clover Park Technical Commnity College The National Association for Stock Car Auto Racing NASCAR (national association for stock car auto racing) was founded by Bill France in Daytona Florida in 1949, in hopes to organize a stock car racing club bound by some simple traditions. Dating back to the prohibition days when moonshine runners would deliver alcohol, many would soup up their cars and give chase to the police and tax collectors. Today, NASCAR is a spectator sport and holds six of the top 20 Television ratings for most viewed sporting event next to American football. What started from a group of renegades and informal races became a multi-million dollar family owned sports division full of triumph and tragedy. The Beginning When moonshine runners would deliver their bootleg liquor, many would modify their cars to avoid the law, or to slip by the tax collectors. Soon the regular runners would heckle about who was better and faster, so to settle the score many runners gathered at Daytona Beach for informal races. In their plight to decipher the good drivers from the bad they would end-up setting world speed records for the day and time. Organizers would come in promising fortune and a future in racing, then would skip town leaving the drivers high and dry again. (Wikipedia) So in 1947, a service station owner and stock car driver Bill France saw the......

Words: 948 - Pages: 4

Free Essay

Cheating and Nascar: Whos at the Wheel

...Analyze the motivational factors that promote cheating in NASCAR I believe that the largest motivational factor of any NASCAR team owner, crew member, or driver is that of winning. Each team represents not only a number on the side of a car but the entire organization, the sponsors, the driver, the crew chief, their crew and their families. NASCAR is big into the family values and your team is your family; you never let your family down. To win a race at any track is to bring honor to your team, revenue to your sponsors, and notoriety to your name. To win for oneself may not be enough motivation to cause a driver to cheat; however, most often times the driver is not the one that sets up the car, which is the crew and crew chief’s duty. Drivers can aide in the facilitation of cheating by requesting that their car be tweaked to their liking, how this is done however is the crew’s job. To win for a cause or for a team gives more pressure to win because there are other people counting on your success. Other motivational factors that promote cheating within NASCAR are that everyone knows everyone cheats. Each and every team in the NASCAR garage has tried and tested the very vague rules of the governing body, sometimes they get caught and others they don’t. To the teams it is worth a chance to try and get away with a tweak that may not be entirely within the rule book and get that little bit of an edge than to finish last on race day. The more lenient the attitude is......

Words: 1257 - Pages: 6

Free Essay

The History of the Daytona 500

... creating the road to fame for divers such as Richard Petty and Dale Earnhardt. The Daytona 500 attracts tourists and NASCAR fans alike to Daytona Beach every year. Ever since the original Daytona 500 was held in 1959, the Daytona 500 has inspired the dreams of drivers and race enthusiasts across the country. However, the tradition of racing in Daytona Beach began in 1903, over half a century before the first official race took place. Around this time, early racing enthusiasts discovered that Daytona Beach’s smooth, hard packed sand was perfect for testing and racing automobiles. Over the next couple of decades, the beach’s reputation grew as ambitious racers broke world records that were once thought to be impossible to achieve, and in 1936, the Daytona Road Course began to host races. Daytona Beach’s fame caught the attention of a driver named Bill France. In 1948, France met with other drivers and race enthusiasts in Daytona Beach and organized a racing committee that would be in charge of managing the races, creating a set of official rules, and planning the schedule for each season. This organization would become known as NASCAR, or the National Association of Stock Car Auto Racing. Funded by NASCAR, the Daytona International Speedway was built in 1959, replacing the Daytona Road Course and establishing Daytona Beach as the official headquarters of NASCAR. Every February since the Daytona International Speedway was opened, the world-famous Daytona 500 has been held there...

Words: 367 - Pages: 2

Free Essay

Personal Professional Development Plan

...Today | Personal Interest Organizations Name | Area of Focus | Location | Cost ofMembership | Conferences,Workshops, or SeminarsHosted this Year | Mailing List, Newsletter, or Discussion Board | NASCAR.com | National Assoc Stock Car Racing | Headquarters is in Daytona Beach, FL | Free; Usually Persons of interest join the Drivers Fan Club; i.e. Jeff Gordon Fan Club $75.00/yr | VIP trips hosted at each race 1 day prior to race day $634.00 to meet/greet w/Jeff Gordon for example | Jeff Gordon newsletter / free signup / Facebook / Twitter @jeffgordonweb , etc…. | The Yorkshire Terrier Club of America | My 2 Yorkies | Mount Vernon, WA | Donations | AKC | Genome Barks (website) YTCAF (main website) | (Sorry Mrs. Lynch everything is NASCAR to me or school in spare time) | | | | | | Professional Events Name | Sponsoring Organization | Cost ofAttendance | Location | Date(s) | DITA: A Day in the LIFE | STC | Members $59; Students $29 | Fairfax, VA | Wed, 4/15/15 2-3pm |...

Words: 411 - Pages: 2

Free Essay

Cheating and Nascar: Who’s at the Wheel?

...Case Study 4: Cheating and NASCAR: Who’s at the Wheel? This paper embarks on a road trip to NASCAR, the National Association for Stock Car Auto Racing, to take a close look at why cheating occurs within that organization. Two arguments drive the article, namely that NASCAR (1) may not be able to stop cheating particularly within the current context, and (2) might not want or be motivated to stop cheating. Obstacles complicating NASCAR''s efforts to stop cheating include the long-standing culture of unethical behavior within stock car racing, and the inconsistent imposition of punishments by NASCAR which drivers and race teams perceive as favoritism and unfair treatment. Yellow flags that raise caution include pressure from unwavering fans, and the friction between innovation and maintaining parity among teams. Proposed solutions include changing the culture within the NASCAR community, as well as developing ethical role models, both of which require major action by NASCAR''s top managers to signal the importance of ethical behavior. Other key stakeholders such as sponsors and fans must create incentives and rewards for ethical behavior, and consider reducing or ending support for drivers and teams that engage in unethical conduct. Our analysis and recommendations have broad applications because NASCAR is an archetype of a large organization attempting to reduce cheating and unethical behavior.   As you think of NASCAR, the first thing comes to mind is cars racing......

Words: 1566 - Pages: 7

Free Essay

Case Study 4: Cheating and Nascar: Who’s at the Wheel?

...Cheating and NASCAR: Who’s at the Wheel? ACC 571: Forensic Accounting May 29, 2012 My first thought when I hear NASCAR, is cars, fans and a whole lot of noise. Who knew that it is one of the top selling sports in the USA. According to the article “10 Interesting NASCAR facts”, There are over 75 million NASCAR fans in the United States and over 6 million attended races in 2010. NASCAR has grown increasingly in its popularity and is now the second largest grossing sport. NASCAR founder William France “Bill” France Sr. founded the sport in 1948. Bill was a mechanic and auto shop owner from Washington, DC. He moved to Daytona Florida in the 1930’s. At the time, Daytona was a great spot for racing enthusiasts. William got involved in racing cars and promoting events. He soon realized that, at different races, rules would vary, and certain promoters were dishonest and would steal money from the contestants. William France Sr. felt the need for a governing body to sanction events. He chose members of the community, discussed this with them. This idea gave birth to NASCAR. . (www.History.com) Analyze the motivational factors that promote cheating at NASCAR. In the article “Is it Easy to Cheat in NASCAR?”, since stock car racing is such a big business, sponsors do not like to hear of any bad publicity when it comes to their particular team(s). Neither do the teams want to lose their sponsorship. When the sport tried to change the culture of NASCAR by......

Words: 1443 - Pages: 6