“NASCAR: A Branding Success”
1)NASCAR’s branding strategy was well organized and successful although they were affected by the economic recession. Their strategy was built on the fact of marketing the company by the use of sponsorships and co-branding with other companies. So they were intensively marketing the company which benefited the company in terms of positioning and financial status. As well this strength was the weakness of the company during the economic recession. The company succeeded in terms of differentiation , as it people always wait for watching the race and are anxious about .Also the participation in Hollywood and films field added success and value to the company’s image. They achieved the fact of being differentiated by segmenting women as well, in order to reach wider fans. People were interested in Nascar and the company were profitable until the point of recession. The sponsors supporting Nascar were suffering in terms of financial status which affected Nascar negatively. The problem with Nascar that they were intensively depending on this marketing technique and not setting any alternatives that could’ve protected the company. They should have done some advertising other than depending on sponsors, as for example using the internet media and other packages so that the audience could be motivated and go for buying the tickets. Also the drivers were always under pressure because of the fear of losing the race in order to not lose the sponsors and promoters. Another alternative they could have done in order to enhance marketing the company and isolating themselves against the recession is that introducing the telemarketing strategy by sending messages and developing specific database so that they will attract more people.
2)Strategic SWOT Analysis
The strengths Nascar had are the co-branding strategy they followed and the support they had from the sponsorships and partners. Also the fact of being differentiated in...