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Citigroup Asset Management Case Study Help (National Association for Stock Car Automobile Racing) is a company conducting series of Stock Vehicle racing in United States and functioning as an approving body for driving the rules for Stock Car Racing. The organization was founded in 1947, by "Big Costs" France. NASCAR organize Stock Cars and truck Racing events in United States with the presence of about 130000 audiences on average in 2005. It also broadcast its occasions in about 150 nations. Stock Cars And Truck Racing by NASCAR is the 2nd largest spectator sport, with greatest number of sponsors. It has about 500 sponsors contributing billions of dollars in its revenue. The other sources of revenue for Citigroup Asset Management Case Study Solution includes; 10% of the total revenue from tv rights, sanctioning fees 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. The structure of Automobile of Tomorrow by NASCAR, with an intention of security for the chauffeurs, brought various stress among the stakeholders of the sport.
Executive Summary
The communication audit, conducted in 2010, exposed that in spite of the reality that business extremely rely on the communications between its stakeholders, there was no recognizable organisation interaction strategy. The market's target customers, instructions and objectives were all unidentified.

The audit pointed out various lacking of NASCAR in terms of absence of internal combination, absence of fan management strategy and absence of digital and social media of marketing.

Citigroup Asset Management Case Study Solution audiences was highly devoted to the sport and the brands associated with the NASCAR, making it appealing for sponsors and business marketers.

Problem Declaration.

The business is currently facing the problem of declining rates of participation at racing tracks and rates of tv audiences. This can put a considerable effect on its profits from sponsors, media rights, and from other sources of revenue.

Situational Analysis.

Although the company was quite effective till 2005 with its conventional marketing techniques, but not long after 2005 the business starts facing different problems including decrease of its fan base. A number of external as well as internal elements are responsible for the decline. Internal elements consist of; inadequate financial investment in social media and other digital medias of.

Fan base of NASCAR comprised of married males with an average age of 47, which passes their fandom to their children and produce generational commitment. However the family system in America was changing leading to decrease of impact of married male fan base over their children. Along with it perceptions about automobile was also altering with viewing vehicle a vehicle to reach at point B from point A, rather than as a fun project. Other obstacles for Citigroup Asset Management Case Study Analysis includes the shift of its fans to other sports as they were improving their fan's experience permitting access to their broadcasts out of the homes through jumbo turns, Wi-Fi gain access to, etc. These all obstacles were tending the company to revise its marketing methods.

SWOT Analysis.


In SWOT analysis, strengths specified as business's qualities which are various from its competitors. These are business's core proficiencies on which company efficiency or company success based upon. Citigroup Asset Management Case Study Analysis core competencies includes it has rights of determining rules as sanctioning body. Policies and rules regarding professional stock automobile racing are dictated by NASCAR like if any group with required abilities and resources can enter into races by following rules and guidelines dictated by NASCAR. So NASCAR has monopoly it this element. Its strengths likewise includes that it has title of second biggest viewer sport in the United States with having more fortune 500 sponsors based in US. Its races were used to transmit in more than 150 nations all over the world with more than $56 million profits. The primary sources of their profits come from tv rights, sanctioning costs, sponsorship and licensing. It has longest season of 10 months and having ownership of 3 national 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. All the occasions of NASCAR are sponsored by corporates due to the fact that of biggest brand name commitment of fans towards brand names marketed by Citigroup Asset Management Case Study Analysis. (See Appendix A).


Weak Points in SWOT Analysis are thought about as external elements. Weak points includes the factors that stops business to carry out at needed level of effectiveness. Weaknesses of NASCAR includes its close culture which is non collaborative. They have non-interventionist technique. They normally utilized to form rules and other required procedures without intervention of others which results in bad collaboration. NASCAR establishes Car of Tomorrow without collaboration so result is that motorists did not like that concept. As this is racing sport so covering of sports by media is also challenging. It was also discovered that NASCAR had no efficient method for company interaction. If it took place off track, they do not know how to manage concern. Inefficient business interaction results in that they do not have clear instructions for their long term goals. They don't know that where they wish to see this sport in future.
Porter's 5 Forces Analysis

NASCAR usually utilized to rely on traditional media sources like regional paper for promotion of its sports. NASCAR likewise came to understand from these conventional media outlets that sport was tough to cover. When sports fans were asked regarding popular celebs and stars then NASCAR motorist was not discovered even in leading twenty responses.


Dangers in SWOT analysis are specified as external aspects that can risk to business's success. Due to the fact that if there is financial down turn then people would be having less return on financial investment, Economic down turn was experienced in late 2000 which can be risk for NASCAR. Earning of individuals would be effected and they would be more mindful in investing their loan. Economic down turn also results in increase fuel rates which also impacted NASCAR. Due to the fact that fans of NASCAR utilized to attend its occasion from long distances. NESCAR had a rule of 65/25/10 for profits distribution. 65 percent profits from media rights would be distributed to race tracks, 25 percent income would be dispersed to contending team and staying 10 percent would be kept by NESCAR which is sanctioning body. Completing group wanted to increase their portion of earnings from 25 percent due to the fact that of increase in running cost of a race group and likewise there is decrease in the number of full-season sponsorship. Because they are making massive investments to improve experience of fans, nescar also deals with threats from other sponsors. Which consists of upgrading existing avenues, building new opportunities, providing Wi-Fi facility and also supplying other interactive mediums to interact sports on smart devices. Fan base of NASCAR comprised of married males with a typical age of 47, which passes their fandom to their children and develop generational loyalty. So the challenge is that the household system in America was changing leading to reduction of influence of married male fan base over their youngsters. In addition to it understandings about cars and truck was likewise changing with viewing cars and truck a car to reach at point B from point A, rather than as an enjoyable job. Now if Citigroup Asset Management Case Study Help make considerable investments in brand-new sections which are based on new consumers then it may deal with unfavorable remarks from its core fan base.

Porter's Five Forces Analysis

Porter's 5 forces is a design that is utilized to evaluate market in which business is working. It helps in identifying what are strengths and weakness of any particular market. It recommend that every industry is different from one another. It is necessary to understand market in which company is working because NASCAR's bottom line i.e. net earnings is greatly depends on this. There are 5 forces that are used to recognize profitability, intensity and attractiveness of Citigroup Asset Management Case Study Help organisation.

Competitive Rivalry

These chauffeurs can go versus NASCAR if they got better chance in terms of prizes and tv exposure. If viewers enjoy other race cars and motorists more than NASCAR then audiences can shift to those other intriguing automobiles and motorists. NASCAR could be having hazard from its two direct rivals that is Solution 1 and Moto GP.
Swot Analysis
Supplier Power

If company shifts from one supplier to another, the provider power shows the number of providers are available in industry and what is the expense associated with provider. Due to the fact that drivers with needed skills and resources are restricted, in this industry there is supply monopoly.

Buyer Power

This force is concerning to consumers that is it easy for customers to move to other items. Then consumers are less most likely to change, if there is more changing cost is associated. In the case of NASCAR customers are its audiences. Because audiences will having low changing expense, audiences can change to other rivals easily.

Threat of Alternative

Alternatives are referred as options. The replacements in this case can be other entertainment means like viewers can shift to other sports. There are wide range of substitutes are offered in this scenario which suggests that hazard of substitute is high.

Risk of New Entry

It is specified as how it is simple for any business to go into in that specific market. In the case of Citigroup Asset Management Case Study Solution danger of brand-new entry is low. If any business requires to enter in this organisation than they have to make heavy investments, due to the fact that. They need to develop cars and racing tracks and also needs to pay large amount to drivers for switching.

PESTEL Analysis


As NASCAR is working in various markets so it requires to deal with different policies. It is likewise noted that NASCAR has dealt with increased examination concerning regulatory. Every government has different top priority so NASCAR has to be prepared for it as priority can be shifted to other sector.


Financial factors includes taxation rate, currency exchange rate, financial performance of that specific 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 rivals can be affected. NASCAR can take advantage of abilities of employees to create new chances and improve existing chances.


Every society is various from each other. Each has different social worths and standards. It assists in comprehending relating to society and choice of consumers. Social elements includes traditions, culture, attitudes towards particular services and products, demographics, norms, interests and so on. It can be concluded that marketing through other means rather than conventional (i.e. paper) can be preferred in this society.


Innovation has impact on practically every service. It includes innovation in company method. In this case of Citigroup Asset Management Case Study Solution it can be noted that companies are greatly investing for research and advancement. NASCAR should also work on its media rights policy with Turner Broadcasting System.

Vrio Analysis
Because every nation has different legal terms and conditions, Legal plays a crucial function in every nation. Citigroup Asset Management Case Study Analysis requires to be make sure that they safeguard their legal rights in every county so any business does not harm to its legal rights.


Environmental elements are likewise crucial for every service. Since generally federal governments don't enable those service which can hurt to environment. These ecological factors includes laws regarding pollution, climate modification, safe garbage disposal, policies regarding insurance coverage etc. NASCAR needs to make sure that its cars are not creating contamination more than acceptable level.

7 P's of Marketing


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


Pricing method of NASCAR for its race occasions tickets is based upon the venue and importance of the racing events. Along with race occasions tickets, NASCAR likewise charge various service charge to its stakeholders and makes earnings. For instance it charged approving charges of $1-2 million per race typically in 2005.


Marketing method of NASCAR is highly based upon its fan base. A strong fan base share its fandom with others and increase the number of audiences for NASCAR races.


NASCAR have its racing tracks in different cities in United States. The most important tracks of NASCAR includes Atlanta Motor Speedway in Georgia, Vehicle Club Speedway in California and Darlington Raceway in South Carolina. It attempts to perform its races in most of the cities in United States to grasp nationwide popularity.


Nestle people strategy is comprised of providing much better experience to its audiences, its fan base and to all of its stakeholders. People are a crucial element of Citigroup Asset Management Case Study Help A marketing technique as its events are the source of entertainment for crowd. Its individuals method includes efforts to offer much better experience to its Fans, Race Drivers, Crew, Occasion Organizers etc., all of which come under people technique of NASCAR.


Several service procedures are needed to perform racing occasions in an effective method. These procedures consist of; appropriate schedule of time, plan for viewers, offering tickets, arrangement of space for sponsors, handling logistics and so on. These all procedures contribute I constructing NASCAR image, enhancing spectators experience and increasing fan base.

Physical Proof.

Essential physical evidences for the NASCAR includes the presence of its racing tracks, stock vehicles and racing occasions. In addition to it, its merchandising brand names consisting of t-shirts, caps, goodies and so on, also act as a physical evidence for NASCAR.

Product Life Cycle Evaluation.

The racing occasions by Citigroup Asset Management Case Study Solution was presented on June 19, 1949. The very first race was held at Charlotte Speedway in North Carolina. There had to do with 13000 fans present in the race. At the first phase competition for NASCAR was low, as the competitors drove the cars comparable to the automobiles driven by ordinary people.


After conducting its very first race effectively the company moved towards developing its own tracks. The first Citigroup Asset Management Case Study Analysis based track, namely the Darlington Raceway track, was initiated in 1950 in South Carolina. It was followed by facility of more raceways consisting of Daytona International Speedway, which was opened in 1959. After the development of racing tracks the business moved towards broadcasting its races on television in 1979. The very first occasion broadcasted on television was flag-to-flag protection of Daytona.

In 1972, William France Jr., became the president of NASCAR and n about 3 decades, he transformed NASCAR from a regional Sport popular company into one with global fan base. He started a brand-new period of rewarding sponsorships and television contracts for NASCAR.


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


The decrease in the business's offerings began after 2005 with average attendance rate per race declined by 22% from 2005 to 2010 and tv viewership rate decreased by 30% from 2005 to 2010. The significant reasons for decline include the monetary crisis of 2008, which increased the cost of getting to tracks for viewers due to increasing fuel prices, and the shifting of its fan base towards other sports.

Market Segmentation.

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


The geographical segmentation of Citigroup Asset Management Case Help is based upon the geographical presence of its tracks in numerous states and cities in United States, and the television broadcasting of its occasions in different nations. The company 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 huge geographical segmentation offers the business local as well as international fan base.


The demographic division of Citigroup Asset Management Case Study Analysis is likewise highlydiverse based upon the gender, income and age of the consumer. To increase the market section of its market NASCAR ought to modify its marketing techniques to bring in more age groups and lower its prices to enter in the market section with a low typical earnings.


The mental qualities of most of the fans are rather similar. NASCAR has a fan base with a commitment. When in a week, NASCAR fans view it compulsive to buy tickets and see the races. 71% of them prefer to buy items with a NASCAR brand. They are rather extrovert and are willing to mingle with other fans while racing. They want quality racing with low price at practical area. NASCAR has attempted to increase the quality of its racing by introducing stage racing, they likewise have actually tried to lower costs and make the occasion more hassle-free by introducing live racing.


Behavioural division of Citigroup Asset Management Case Study Analysis is based upon the behaviour of fans in regards to enjoying the race reside on the television or by going in the occasions. Currently, the fans preference is towards enjoying the race at home on television rather than going, as the customer experience at NASCAR tracks is not favourable along with pricey. This choice makes the rates for attendance lower than the rates for tv viewers. NASCAR has to alter the behaviour of its fan base by presenting qualitative services at its tracks.

Target audience.


One of the potential target market of Citigroup Asset Management Case Study Analysis was Hispanics; the young and growing population of United States. The market sector has great potential for NASCAR as the population was growing at a greater rate and it was anticipated to become thrice after forty years and the segment has increasing wealth rate with about $1 trillion of wealth in 2014. The sector shows affinity with cars and truck culture, but require a more focused marketing towards inviting the section towards racing.


Kids are likewise one of the prospective target market sector for NASCAR, as they are more linked socially than other groups. Automobile racing games established by Citigroup Asset Management Case Study Help can be a potential source of gaining attention of kids towards NASCAR track racing. NASCAR needs more attention towards personalizing and enhancing its digital functions to draw in the kids target market.

This huge expense makes the segment potential for NASCAR marketing technique of increasing its fan base. The market section thinks about NASCAR as an organization lacking in developing a multiculturalism environment. NASCAR should take various actions to improve the experience of Generation Y consumers in its events.

5 C's of Marketing

5 C's of marketing helps in taking decisions concerning marketing.


It needs to make PESTLE analysis in order to understand climate or context in which NASCAR is working. PESTLE means political, economic, social, technical, legal and environmental and is stated above.


Citigroup Asset Management Case Study Help is a vehicle racing business with having USP of high quality car racing with a global structure. Its sector is sports group and events.


Collaborations includes suppliers, suppliers and alliances of Citigroup Asset Management Case Study Analysis. It is collaborated with different racing teams which are participating in racing. It also teamed up with Turners Sport for digital rights. NASCAR used to get pay check of around $15 million annually from Turner Sports. There are variety of cons behind this deal. NASCAR had to get approval from Turner Sport if it desire to create its Facebook page, twitter account or even mobile application. Turner Sport likewise had rights of each and every single video which is shoot during race at track.


The customer of Citigroup Asset Management Case Study Help are its viewers. They target consumers with having age of 15-60 years. Fan base of NASCAR consisted of married males with a typical age of 47, which passes their fandom to their children and develop generational commitment.


The direct competitors of NASCAR are Formula 1 and Moto GP. Groups normally represents sponsors in NASCAR and the medium of advertising is drivers. It can be stated that motorists and race cars and trucks are rivals. If they got better opportunity in terms of rewards and tv direct exposure, these chauffeurs can go versus NASCAR.

Marketing Methods.

1. Developing and Maintaining Facebook Page.
Among the possible target audience segments for NASCAR is Hispanics which is the growing population segment of U.S.A. but sadly NASCAR had actually been not able to bring in the this targeted segment. In order to attract the young growing generation the NASCAR should market by utilizing social media like Facebook. It must establish a Facebook page containing the info relating to the races and the locations of tracks to make the customer informative about the core operations of Citigroup Asset Management Case Study Help. It needs to likewise update its Facebook page on day-to-day basis to supply info about its approaching events. This would make the target audience section more helpful about the business and would result in drawing in large fans base.
2. Developing and Upgrading Accounts of Secret Drivers.
Citigroup Asset Management Case Study Solution motorists has a low star power as compare to players of other sports. The bad contacts with fans result in less attraction of audiences towards the racers and a low star power. Star power is a crucial element for bring in audiences towards tracks and towards television.
3. Establishing New Games and improving present games for kids.
Kids spent most of their time on playing games and utilizing smart devices. Sadly, kids playing NASCARA have a worst experience of playing its video games. As an outcome, they are less attracted towards the sport. In order to bring in these kids, NASCARA should enhance its present racing video games by presenting customization in the cars and trucks i.e. altering colours, choice of speed, presenting group racing in the game, utilizing much better graphics associated with the racing tracks and presenting different levels in the video game. All these adjustments in the current game would provide better experience to kids.
Along with it, NASCAR needs to likewise build new games related to racing like kids racing with kids characters as chauffeurs, animation racing with racing in between various cartoon characters with an option of picking the favourite cartoon character for the kids. These techniques would enable the company to attract one of its potential target sections.
4. Introducing multiculturalism at events.
NASCAR events are made up of fans with extremely few cultural variety, due to expense of arrival in events, making it unattractive for the consumers perceiving sport occasions as social occasions i.e. Generation Y clients. As the Generation Y customers are a potential target market for NASCAR, therefore the business must take particular procedures to attract this potential target market.
5. Improving Client Experience at Tracks.
Because on the race day audiences got dissatisfied, NASCAR must work on infrastructure and features at tracks. Audiences have lots of expectations from NASCAR due to the fact that in exact same market other companies are supplying better services than NASCAR. Then its fans might moved to its rivals, if NASCAR do not work on this concern. According to fans there were not appropriate centers were readily available as compare to other sports companies. So NASCAR needs to make certain that it supply sufficient facilities that includes cleaned up washrooms, comfy seating plan. They should likewise provide WIFI services and ease of access of charge card throughout that track. It must be likewise make certain that there are enough jumbo turns put at all required places. There should be also food stalls that offer quality food to viewers. In this method viewers will be having pleasant experience at the day of event. (See Appendix B).

Marketing Budget plan

Marketing budget plan made on the basis of the above methods for the duration of 5 years from 2011 to 2015, reveals the expense related information for the marketing strategies. It can be seen that strategy 5 of improving consumer experience at tracks would require greatest initial financial investment and cost and method 4 of presenting multiculturalism will require least expensive initial financial investment with lowest even more per year expense.
NOTE: The worths about expense are assumed on rational basis due the absence of figures and facts associated with cost in the case research study. Inflation rate of United States is assumed to be 10%.

On the basis of deep analysis of the external and internal factors of Citigroup Asset Management Case Study Solution triggering the decrease of television viewership rate and participation rate at tracks, the above marketing strategies are recommended to NASCAR to increase its fan base in long term. These methods would manage internal elements like bad client experience at tracks, insufficient social networks marketing, incapable digital medias like games, absence of culturalisms at tracks and so on, in addition to with external factors like shifting of fans towards other sports, demographical modifications in America and changing domesticity designs.