Nascar SWOT Analysis, USP & Competitors

Posted in Sports Teams and Events, Total Reads: 7516
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SWOT Analysis of Nascar with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Nascar

Parent Company

Nascar

Category

Auto racing

Sector

Sports and Entertainment

Tagline/ Slogan

-

USP

High quality auto racing with a global audience

STP

Segment

All auto-racing enthusiasts

Target Group

Male in the age group 15-60

Positioning

High quality auto racing in USA and Canada

SWOT Analysis

Strengths

1. One of the highest TV ratings amongst all professional sports franchises in USA
2. High revenue due to excellent merchandising(More than $3 billion annually)
3. Association with top sponsors( Fortune 500 companies sponsor NASCAR more than other motor sports)
4. Global giants like Honda are expected to participate in the near future

5. Presence of F1 stars increased the popularity of NASCAR

Weaknesses

1.Not having a global presence. (Unlike F1, the NASCAR races are primarily held in USA and Canada
2.Various controversies regarding fuel consumption, emissions and pollution
3.Various issues related to driver safety

4. Drop in TV ratings and ticket prices in the recent past

Opportunities

1.Global expansion with races across the world will bring its popularity to the same level as F1, and will allow foreign sponsors and manufacturers to get involved
2.Switching to green fuel to make NASCAR environment friendly

Threats

1.Threat from the aggressive expansion by F1
2.High spending by the F1 manufacturers and high salary will attract the best NASCAR drivers to join F1

Competition

Competitors

1.Formula 1
2.Moto GP



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