Published in Sports Teams and Events category by MBA Skool Team
NASCAR is one of the leading brands in the sports teams and events sector. NASCAR SWOT analysis evaluates the brand by its strengths & weaknesses which are the internal factors along with opportunities & threats which are the external factors. Let us start the SWOT Analysis of NASCAR:
NASCAR stock racing has one of the highest TV ratings amongst all professional sports franchises in USA
NASCAR has a high revenue of millions of dollars than due to excellent merchandising, branding and ticket sales
The sports event has an association with top sponsors and global partners
Leading automobile companies participate in the race events which are highly publicized
The presence of F1 stars increased the popularity of NASCAR
There are more than 1000 races organized at over 100 race tracks in US, Mexico, Canada and Europe
Some popular Hollywood movies have promoted NASCAR race events as their primary theme, which shows the popularity of the sport
Above are the strengths in the SWOT Analysis of NASCAR. The strengths of NASCAR looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
Unlike F1, the NASCAR races are primarily held in USA and Canada and has a limited global audience
Various controversies regarding fuel consumption, emissions and pollution, and driver safety have affected the brand image of NASCAR
These were the weaknesses in the NASCAR SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
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