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NASCAR (National Association for Stock Automobile Vehicle Racing) is an organization performing series of Stock Vehicle racing in United States and acting as an approving body for driving the rules for Stock Vehicle Racing. 2) Stock Automobile Racing by NASCAR is the second largest spectator sport, with highest number of sponsors. 1) The other sources of revenue for Citigroup Asset Management Case Study Solution includes; 10% of the overall income from television rights, sanctioning costs i.e. $1-2 million per race, and licencing NASCAR brand name to business.

NASCAR has a closed business culture with the non-interventionist technique. This non collective approach brings stress in the sport. The structure of Automobile of Tomorrow by Citigroup Asset Management Case Study Analysis, with an objective of security for the drivers, brought various stress among the stakeholders of the sport.

The interaction audit, conducted in 2010, revealed that regardless of the fact that business highly rely on the interactions in between its stakeholders, there was no recognizable service interaction strategy. The industry's target clients, direction and goals were all unknown.

The audit pointed out numerous doing not have of NASCAR in terms of lack of internal integration, absence of fan management method and lack of digital and social media of marketing.

Citigroup Asset Management Case Study Analysis viewers was extremely loyal to the sport and the brand names connected with the NASCAR, making it appealing for sponsors and corporate online marketers.

Issue Declaration.

The company is currently dealing with the problem of declining rates of participation at racing tracks and rates of television viewers. This can put a significant effect on its incomes from sponsors, media rights, and from other sources of revenue.

Situational Analysis.

Although the business was rather successful till 2005 with its traditional marketing methods, however not long after 2005 the company begins facing different problems including decrease of its fan base. Several external along with internal factors are responsible for the decline. Internal aspects include; insufficient investment in social networks and other digital medias of.

Fan base of NASCAR consisted of married males with an average age of 47, which passes their fandom to their children and develop generational commitment. The household system in America was altering resulting in reduction of influence of married male fan base over their children. Together with it understandings about automobile was also changing with viewing automobile a vehicle to reach at point B from point A, instead of as a fun job. Other challenges for Citigroup Asset Management Case Study Help consists of the shift of its fans to other sports as they were enhancing their fan's experience permitting access to their broadcasts out of the houses through jumbo turns, Wi-Fi access, etc. These all obstacles were tending the company to modify its marketing methods.

SWOT Analysis.


In SWOT analysis, strengths specified as company's qualities which are various from its competitors. These are business's core competencies on which business performance or company success based upon. Citigroup Asset Management Case Study Analysis core proficiencies includes it has rights of dictating guidelines as sanctioning body. Guidelines and guidelines concerning expert stock cars and truck racing are determined by NASCAR like if any group with required skills and resources can enter into races by following guidelines and regulations dictated by NASCAR. NASCAR has monopoly it this aspect. Its strengths likewise includes that it has title of second largest viewer sport in the United States with having more fortune 500 sponsors based in US. Its races were utilized to relay in more than 150 nations all over the world with more than $56 million earnings. The primary sources of their incomes originate from television rights, approving costs, sponsorship and licensing. It has longest season of 10 months and having ownership of 3 nationwide series i.e. Camping World Truck Series, the Sprint Cup Series and the Nationwide Series. It has also big resource of fans and business sponsors. Since of biggest brand loyalty of fans toward brands advertised by NASCAR, all the occasions of NASCAR are sponsored by corporates. (See Appendix A).


Weaknesses of NASCAR includes its close culture which is non collective. Citigroup Asset Management Case Study Solution develops Automobile of Tomorrow without cooperation so result is that motorists did not like that principle. It was also discovered that NASCAR had no reliable strategy for business interaction.


Opportunities in SWOT analysis are external aspects which can be favourable to business or the external factors on which company is having competitive advantage. NASCAR typically utilized to rely on traditional media sources like regional paper for promotion of its sports. Usually these conventional media sources try to cover their house group and certain sort of occasions. NASCAR likewise familiarized from these standard media outlets that sport was hard to cover. Media landscape likewise altered from conventional to digital landscape. Papers failed. NASCAR can work on its abilities to get maximum possible gain from this brand-new digital landscape. NASCAR have underinvestment in digital resources. It can capitalize in social and digital media to get its benefits. Digital rights of NASCAR were also sold to Turner Sports. NASCAR used to make money check of around $15 million every year from Turner Sports. There are variety of cons behind this deal. NASCAR had to get approval from Turner Sport if it want to develop its Facebook page, twitter account or even mobile application. Turner Sport also had rights of every video which is shoot during race at track. Then they are needed to pay licensing costs to Turner Sport, if media sources like papers, publications and cable channels want to publish videos of races on their particular pages. So NASCAR can deal with conditions and terms and try to negotiate with Turner Sports to get maximum advantages of it. Star power plays really important role in creating profits from every sport. Nevertheless it was noted that Citigroup Asset Management Case Study Help is lagging in this area i.e. star power. For example when sports fans were asked relating to popular stars and stars then NASCAR motorist was not discovered even in top twenty reactions. NASCAR can put efforts in this location too for profits generation. They ought to direct their chauffeurs that how they can become sport stars. 4 tactical focuses which are generated by research team can likewise be served as chance for NESCAR. These four tactical focuses compares and analysis Citigroup Asset Management Case Study Help techniques.


Risks in SWOT analysis are specified as external aspects that can risk to company's success. Economic down turn was experienced in late 2000 which can be hazard for NASCAR because if there is financial down turn then individuals would be having less return on investment. Earning of individuals would be effected and they would be more conscious in investing their cash. Economic down turn also leads to boost fuel rates which likewise affected NASCAR. Because fans of NASCAR utilized to attend its occasion from fars away. NESCAR had a guideline of 65/25/10 for revenue circulation. 65 percent incomes from media rights would be distributed to race tracks, 25 percent revenue would be dispersed to completing team and staying 10 percent would be kept by NESCAR which is approving body. Contending group wished to increase their portion of income from 25 percent due to the fact that of boost in operating cost of a race group and likewise there is decline in the number of full-season sponsorship. Due to the fact that they are making huge investments to enhance experience of fans, nescar likewise faces dangers from other sponsors. Which includes upgrading existing avenues, developing new avenues, supplying Wi-Fi center and likewise offering other interactive mediums to connect sports on smartphones. Fan base of NASCAR consisted of married males with an average age of 47, which passes their fandom to their youngsters and create generational loyalty. The difficulty is that the family system in America was changing resulting in decrease of influence of married male fan base over their youngsters. Together with it understandings about automobile was likewise altering with perceiving vehicle a vehicle to reach at point B from point A, instead of as an enjoyable project. Now if Citigroup Asset Management Case Study Solution make significant investments in brand-new segments which are based upon brand-new consumers then it may face negative remarks from its core fan base.

Porter's 5 Forces Analysis

Porter's 5 forces is a model that is utilized to evaluate market in which business is working. It helps in identifying what are strengths and weak point of any particular industry. It recommend that every market is various from one another. Due to the fact that NASCAR's bottom line i.e. net profit is heavily depends on this, it is essential to comprehend market in which business is working. There are 5 forces that are utilized to identify success, intensity and attractiveness of Citigroup Asset Management Case Study Analysis company.

Competitive Rivalry

This force suggests capability of rivals. Teams normally represents sponsors in NASCAR and the medium of advertising is chauffeurs. For that reason it can be stated that drivers and race automobiles are rivals. These motorists can go against NASCAR if they improved opportunity in terms of prizes and tv exposure. If audiences take pleasure in other race vehicles and drivers more than NASCAR then audiences can shift to those other interesting cars and trucks and chauffeurs. NASCAR might be having threat from its 2 direct rivals that is Solution 1 and Moto GP. They require to create competitive advantages for chauffeurs so they do not shift to other rivals.

Supplier Power

If company shifts from one supplier to another, the supplier power shows the number of providers are readily available in industry and what is the cost associated with supplier. Since drivers with required abilities and resources are limited, in this industry there is supply monopoly.

Purchaser Power

In the case of NASCAR customers are its audiences. Audiences can change to other rivals quickly since audiences will having low switching expense.

Danger of Substitution

Replacements are referred as options. The replacements in this case can be other entertainment implies like viewers can move to other sports. So there are large range of alternatives are available in this situation which suggests that threat of alternative is high.

Hazard of New Entry

It is defined as how it is simple for any company to enter in that specific market. In the case of Citigroup Asset Management Case Study Analysis risk of new entry is low. If any business requires to enter in this organisation than they have to make heavy financial investments, since. They require to construct cars and racing tracks and also requires to pay significant amount to motorists for changing.

PESTEL Analysis


It can not be concluded from case study that there would be modification in resource allowances. NASCAR had actually got benefit from lower tax policies which leads to increasing in profits. They made heavy financial investments in the research and advancement. As NASCAR is operating in different markets so it requires to face different guidelines. It is also noted that Citigroup Asset Management Case Study Analysis has dealt with increased analysis concerning regulatory. Every government has various priority so NASCAR needs to be prepared for it as top priority can be moved to other sector.


Financial factors consists of taxation rate, exchange rate, economic efficiency of that particular business, conditions of labour market, inflation rate and so on. If there is government intervention in the marketing and sales sector, fortunes of the NASCAR and its competitors can be impacted. NASCAR can leverage abilities of staff members to produce brand-new opportunities and improve existing opportunities.


Each has various social worths and standards. It assists in comprehending concerning society and preference of customers.


In this case of NASCAR it can be kept in mind that business are heavily spending for research study and development. NASCAR needs to also work on its media rights policy with Turner Broadcasting System.


Legal plays an important role in every country since every nation has different legal terms. Citigroup Asset Management Case Study Analysis requires to be make certain that they safeguard their legal rights in every county so any company does not harm to its legal rights.


Environmental factors are likewise crucial for each organisation. Because typically federal governments do not enable those business which can hurt to environment. These ecological aspects consists of laws relating to contamination, environment modification, safe waste disposal, policies relating to insurance coverage and so on. NASCAR needs to make certain that its automobiles are not generating pollution more than acceptable level.

7 P's of Marketing


The items of Citigroup Asset Management Case Study Analysis in its product portfolio are; racing events tickets, racing tracks, sponsor's marketing, media rights, licencing NASCAR brand name, sanctioning rules for races and ad-space to business marketers during broadcast of NASCAR races. (Hanlon, 2018).


Prices strategy of NASCAR for its race occasions tickets is based upon the place and importance of the racing occasions. In addition to race occasions tickets, NASCAR likewise charge various service fees to its stakeholders and makes profits. For instance it charged approving charges of $1-2 million per race usually in 2005.


Promotional method of NASCAR is extremely based upon its fan base. A strong fan base share its fandom with others and increase the number of viewers for NASCAR races.


NASCAR have its racing tracks in different cities in United States. The most important tracks of NASCAR consists of Atlanta Motor Speedway in Georgia, Automobile Club Speedway in California and Darlington Raceway in South Carolina. It tries to perform its races in most of the cities in United States to grasp across the country appeal.


Nestle individuals method is comprised of providing better experience to its audiences, its fan base and to all of its stakeholders. Individuals are an essential element of Citigroup Asset Management Case Study Analysis A marketing technique as its occasions are the source of entertainment for crowd. Its individuals method includes efforts to offer better experience to its Fans, Race Drivers, Crew, Event Organizers and so on, all of which come under people technique of NASCAR.


Several business processes are required to conduct racing events in an efficient method. These processes include; correct schedule of time, arrangement for spectators, offering tickets, plan of area for sponsors, handling logistics and so on. These all processes contribute I building NASCAR image, improving spectators experience and increasing fan base.

Physical Evidence.

Essential physical evidences for the NASCAR includes the existence of its racing tracks, stock automobiles and racing occasions. In addition to it, its merchandising brands including tee shirts, caps, goodies etc., likewise act as a physical evidence for NASCAR.

Product Life Cycle Evaluation.

The racing occasions by NASCAR was presented on June 19, 1949. At the very first stage competition for NASCAR was low, as the competitors drove the automobiles similar to the automobiles driven by ordinary individuals.


The very first NASCAR based track, particularly the Darlington Raceway track, was initiated in 1950 in South Carolina. After the development of racing tracks the business moved towards transmitting its races on television in 1979.

In 1972, William France Jr., ended up being the president of NASCAR and n about 3 years, he changed NASCAR from a regional Sport popular organization into one with worldwide fan base. He started a brand-new age of profitable sponsorships and television agreements for NASCAR.


The maturity duration for NASCAR began with the efforts of William France Jr., with the company having wide range of earnings sources. The company has about 500 sponsors with transmitting its occasions in about 150 nations. The business has a great deal of tracks in most of the cities of United States.


The decrease in the company's offerings started after 2005 with typical presence rate per race decreased by 22% from 2005 to 2010 and television viewership rate declined by 30% from 2005 to 2010. The significant reasons for decline consist of the monetary crisis of 2008, which increased the cost of getting to tracks for viewers due to increasing fuel rates, and the shifting of its fan base towards other sports.

Market Division.

The market division of Citigroup Asset Management Case Study Solution can be divided into four sectors; Geographic, Demographic, Psychographic and Behavioural. (Dutta, 2018).


The geographical division of Citigroup Asset Management Case Help is based upon the geographical existence of its tracks in numerous states and cities in United States, and the tv broadcasting of its events in different countries. The business has 23 tracks in about 20 states of America and has television broadcast through different Medias i.e. TNT, ESPN, ABC and Fox, in about 150 countries.This large geographical segmentation supplies the business local as well as worldwide fan base.


The demographic division of NASCAR is likewise highlydiverse based upon the gender, income and age of the customer. Its present fan base is majorly comprised of male married fans with an average age of 47 years and an income around $30-50 thousands. Currently NASCAR is trying to increase its target market to the young growing population and kinds. To increase the demographic sector of its market NASCAR must revise its marketing techniques to attract more age and lower its costs to enter in the marketplace segment with a low typical earnings.( htt1).


NASCAR has a fan base with a loyalty. NASCAR fans view it compulsive to acquire tickets and see the races when in a week. NASCAR has tried to increase the quality of its racing by introducing stage racing, they also have tried to lower prices and make the occasion more practical by presenting live racing.


Behavioural division of NASCAR is based upon the behaviour of fans in terms of enjoying the race live on the television or by going in the events. Presently, the fans choice is towards viewing the race at home on tv rather than going, as the customer experience at NASCAR tracks is not favourable as well as expensive.

Target audience.


One of the prospective target market of NASCAR was Hispanics; the young and growing population of United States. The market section has excellent possible for NASCAR as the population was growing at a greater rate and it was anticipated to end up being thrice after forty years and the section has increasing wealth rate with about $1 trillion of wealth in 2014.


Kids are likewise among the possible target audience sector for NASCAR, as they are more linked socially than other groups. Producing fan base among kids can supply a potential increase in the variety of fans for racing due to their connection. Kids invest most of their times in using mobile phones and playing computer game. Car racing games developed by Citigroup Asset Management Case Study Help can be a possible source of getting attention of kids towards NASCAR track racing. Nevertheless, NASCAR's digital functions connected to kids are not efficient in acquiring the attention. NASCAR needs more attention towards tailoring and improving its digital functions to bring in the kids target audience.

This huge expense makes the sector capacity for NASCAR marketing method of increasing its fan base. The market segment considers NASCAR as a company doing not have in producing a multiculturalism atmosphere. NASCAR needs to take different steps to improve the experience of Generation Y customers in its events.

5 C's of Marketing

5 C's of marketing assists in taking choices relating to marketing. These 5 C's needs to be evaluated appropriately for taking any marketing choice. These 5 C's mean Climate, Business, Collaborators, Rivals and clients.


It needs to make PESTLE analysis in order to comprehend environment or context in which NASCAR is working. PESTLE stands for political, economic, social, technical, legal and environmental and is specified above.


Citigroup Asset Management Case Study Help is a vehicle racing company with having USP of high quality automobile racing with an international structure. Its sector is sports group and occasions.


Collaborations includes distributors, providers and alliances of NASCAR. NASCAR used to get pay check of around $15 million yearly from Turner Sports. NASCAR had to get approval from Turner Sport if it desire to create its Facebook page, twitter account or even mobile application.


The customer of Citigroup Asset Management Case Study Analysis are its audiences. They target clients with having age of 15-60 years. Fan base of NASCAR consisted of married males with an average age of 47, which passes their fandom to their youngsters and produce generational commitment.


Teams usually represents sponsors in NASCAR and the medium of marketing is motorists. These drivers can go versus NASCAR if they got better opportunity in terms of rewards and television direct exposure.

Marketing Techniques.

1. Developing and Preserving Facebook Page.
Among the prospective target markets sections for NASCAR is Hispanics which is the growing population segment of USA however unfortunately NASCAR had been unable to attract the this targeted segment. In order to bring in the young growing generation the NASCAR need to market by utilizing social networks like Facebook. It ought to develop a Facebook page including the info relating to the races and the locations of tracks to make the customer helpful about the core operations of Citigroup Asset Management Case Study Analysis. It ought to likewise update its Facebook page on everyday basis to supply details about its upcoming events. This would make the target market sector more informative about business and would result in attracting big fans base.
2. Establishing and Upgrading Accounts of Key Drivers.
Citigroup Asset Management Case Study Help motorists has a low star power as compare to gamers of other sports. The poor contacts with fans result in less attraction of audiences towards the racers and a low star power. Star power is an essential factor for attracting audiences towards tracks and towards television.
3. Developing New Games and enhancing present games for kids.
In order to draw in these kids, NASCARA must enhance its present racing video games by introducing modification in the vehicles i.e. altering colours, selection of speed, presenting group racing in the video game, using better graphics related to the racing tracks and introducing various levels in the video game. All these adjustments in the existing game would supply much better experience to kids.
In addition to it, NASCAR should likewise develop new video games connected to racing like kids racing with kids characters as drivers, cartoon racing with racing in between various cartoon characters with a choice of selecting the preferred cartoon character for the kids. These strategies would allow the business to bring in among its prospective target sections.
4. Introducing multiculturalism at occasions.
NASCAR occasions are comprised of fans with extremely couple of cultural variety, due to expense of arrival in events, making it unappealing for the customers perceiving sport events as social occasions i.e. Generation Y customers. As the Generation Y customers are a potential target market for NASCAR, therefore the business should take particular procedures to attract this prospective target market.
5. Improving Client Experience at Tracks.
Citigroup Asset Management Case Study Solution ought to deal with facilities and facilities at tracks because on the race day audiences got disappointed. Due to the fact that in very same industry other companies are supplying much better services than NASCAR, audiences have lots of expectations from Citigroup Asset Management Case Study Help. IF NASCAR do not deal with this issue then its fans might moved to its rivals. According to fans there were not sufficient facilities were available as compare to other sports service providers. So NASCAR ought to ensure that it offer sufficient facilities that consists of cleaned bathrooms, comfortable seating plan. They should also supply WIFI services and accessibility of charge card throughout that track. It should be likewise ensure that there suffice jumbo turns positioned at all needed places. There need to be also food stalls that offer quality food to viewers. In this method viewers will be having enjoyable experience at the day of occasion. (See Appendix B).
Marketing Budget plan.
Marketing budget plan made on the basis of the above techniques for the duration of 5 years from 2011 to 2015, reveals the cost related data for the marketing strategies. It can be seen that method 5 of enhancing customer experience at tracks would require greatest preliminary financial investment and cost and method 4 of presenting multiculturalism will need least expensive initial financial investment with lowest even more per year cost.
KEEP IN MIND: The worths about cost are assumed on rational basis due the lack of figures and truths connected to cost in the case study. Inflation rate of United States is presumed to be 10%.


On the basis of deep analysis of the internal and external factors of Citigroup Asset Management Case Study Help causing the decline of television viewership rate and presence rate at tracks, the above marketing strategies are recommended to NASCAR to increase its fan base in long term. These techniques would deal with internal aspects like bad client experience at tracks, inadequate social media marketing, incapable digital medias like video games, lack of culturalisms at tracks etc., as well as with external elements like moving of fans towards other sports, demographical changes in America and altering family life designs.

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