Nascar Case

SWOT Analysis:

Strengths:

* Industry leader in auto racing

-75 million fans

* Brand and fan loyalty

* Abundant financial resources

* #1 spectator sport in America (Race attendance up 19% over past decade)

* Strong corporate sponsorship (Budweiser, Best Buy, Home Depot, 3M, etc.)

* Use of Co-Branding

* Extensive use of multiple media outlets (Internet website, television, radio, video games, magazines, social media, etc.)

-Broadcasted in over 150 countries in over 30 languages

* Variety of races offered about 1200 races on over 100 tracks:

(Sprint Cup Series, Nationwide Series, Camping World Truck Series, International Series, and other Regional Series)

* Internet based "fan council" used for conducting surveys (12,300 members)

* Second highest rated regular season sports on TV

* 8 year $4.5 Billion TV contract with FOX, TNT, and ESPN

* Mandatory safety requirements

* Differentiation Strategy (marketing, race experience, Hollywood, Chase for the Cup Playoffs)

* NASCAR has merchandising rights for watches, clothes, chairs, tables, grills, hats, clocks, flags, doormats, blankets, auto accessories, sunglasses, and food products (Over 3 billion in sales annually

* New Green Initiatives-(LEED Certified buildings, tracks made of recycled parts, and more environmentally safe cars)

* "Drive for Diversity Program": Ethically diversified company, and increasing woman drivers and crew members

* "NASCAR Day": Charity event held Friday before May's Sprint Cup Race. Raised more than 4.5 million for NASCAR Foundation Charities

* Ability to respond to 3 year decline(08'-10') using low-cost strategy(lowered cost of tickets, concessions, and worked with hotels to reduce prices for fans)

o Increased TV Views by 9.7 percent in 2011

o Attendance improved an average of 8,941 per race in 2011

o Increased 18-34 year old fan base by 20 percent in 2011

("Nascar's TV ratings," 2011)

Weaknesses:

* Races last 3.5+ hours

* Effectively targeting NASCAR to every fans needs

-Problems holding onto NASCAR origins while at the same time promoting successful changes fans will like

-Negative attitudes from southern fans about changes to NASCAR

-Allowing blue-collar to still be able to afford races

* Lack of environmental responsibility (216,000 gallons of fuel used per season)

* Lack of diversity (few minority or woman drivers)

* Increased clutter of sponsorships at the race tracks

* Decline in attendance and TV ratings from 08'-10'

* Too much control from France family

o A descendent of William France has been CEO ever since company was founded

Opportunities:

* Strategic placement of tracks and races to get close as possible to target markets

* Sign new TV contract (current