Nascar SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP

Nascar

Auto racing

Sports Teams and Events

-

High quality auto racing with a global audience

All auto-racing enthusiasts

Male in the age group 15-60

High quality auto racing in USA and Canada

Below are the Strengths in the SWOT Analysis of Nascar:

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

Here are the weaknesses in the Nascar SWOT Analysis:

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

Following are the Opportunities in Nascar SWOT Analysis:

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

The threats in the SWOT Analysis of Nascar are as mentioned:

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

Below are the top 2 Nascar competitors:

1.Formula 1
2.Moto GP