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...

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