NASCAR
CASE STUDY VERY ROUGH DRAFT
Evaluate NASCAR’s branding strategy in relation to its overall marketing strategy. Could NASCAR have done anything differently to insulate itself against the economic downturn?
NASCAR has a very strong branding strategy in my opinion. They have utilized multiple strategies in order to be effective at establishing their brand: co-branding, brand awareness, differentiation, and emotion.
Co-branding and partnering with other companies has been one of their methods since the start of their company. NASCAR realized a substantial growth in their early years when it partnered with automakers Ford, General Motors (GM) and Chrysler – known as the Big Three.
In the late 1980s they broadened their reach when they branched out into the world of television and had their races televised. By the early 2000s they were able to negotiate detailed television contracts with FOX and NBC enabling the entire NASCAR season to be televised to the United States. CAN YOU VERIFY THAT? NASCAR was later able to sign another contract enabling them to provide their races to a viewing audience to a tune of 167 countries. Utilizing this outlet /form of marketing enabled them to increase their fan base extensively.
NASCAR works hard to create brand awareness and as a result many companies choose to sport the NASCAR logo on their products because they realize the brand equity and they are loyal to the NASCAR brand. NASCAR fans are loyal for several reasons, one being because of the sense of community they feel when engaged with this sport. NASCAR recognized that sense of community and strives to increase that sense of community by establishing a link on their website dedicated to community. Fans can socialize online form emotional bonds. NASCAR’s brand is also personified through its drivers. Fans feeling connected to the drivers allow them to create a bond and that bond promotes the sport’s brand image.
NASCAR has worked hard to differentiate its brand
Evaluate NASCAR’s branding strategy in relation to its overall marketing strategy. Could NASCAR have done anything differently to insulate itself against the economic downturn?
NASCAR has a very strong branding strategy in my opinion. They have utilized multiple strategies in order to be effective at establishing their brand: co-branding, brand awareness, differentiation, and emotion.
Co-branding and partnering with other companies has been one of their methods since the start of their company. NASCAR realized a substantial growth in their early years when it partnered with automakers Ford, General Motors (GM) and Chrysler – known as the Big Three.
In the late 1980s they broadened their reach when they branched out into the world of television and had their races televised. By the early 2000s they were able to negotiate detailed television contracts with FOX and NBC enabling the entire NASCAR season to be televised to the United States. CAN YOU VERIFY THAT? NASCAR was later able to sign another contract enabling them to provide their races to a viewing audience to a tune of 167 countries. Utilizing this outlet /form of marketing enabled them to increase their fan base extensively.
NASCAR works hard to create brand awareness and as a result many companies choose to sport the NASCAR logo on their products because they realize the brand equity and they are loyal to the NASCAR brand. NASCAR fans are loyal for several reasons, one being because of the sense of community they feel when engaged with this sport. NASCAR recognized that sense of community and strives to increase that sense of community by establishing a link on their website dedicated to community. Fans can socialize online form emotional bonds. NASCAR’s brand is also personified through its drivers. Fans feeling connected to the drivers allow them to create a bond and that bond promotes the sport’s brand image.
NASCAR has worked hard to differentiate its brand