University Case Study: Issues and Solutions for NASCAR Marketing
VerifiedAdded on 2020/05/16
|5
|1240
|33
Case Study
AI Summary
This case study examines the key issues impacting NASCAR, including a declining customer base and viewership, which negatively affects sponsorships and revenue. It identifies internal challenges such as the board's resistance to market changes and ineffective fan management strategies. The study analyzes the demographics of NASCAR fans, including both younger and older segments, and discusses the impact of changing social trends and the rise of single-family households. It recommends targeting the Hispanic market and leveraging social media to enhance popularity and address fan disappointments related to venue experiences. The case study also highlights the issues of digital media rights, recommending NASCAR regain control from Turner Sports to improve their communication through social media and stay competitive in the market. The study provides recommendations for NASCAR to adapt to changing market conditions and improve its marketing strategies.
1 out of 5