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NASCAR (National Association for Stock Vehicle Vehicle Racing) is a company performing series of Stock Vehicle racing in United States and acting as an approving body for driving the guidelines for Stock Car Racing. 2) Stock Vehicle Racing by NASCAR is the second largest viewer sport, with highest number of sponsors. 1) The other sources of earnings for Citigroup Asset Management Case Study Analysis consists of; 10% of the overall revenue from tv rights, sanctioning charges i.e. $1-2 million per race, and licencing NASCAR brand name to companies.

NASCAR has a closed business culture with the non-interventionist technique. The building of Vehicle of Tomorrow by NASCAR, with an intent of security for the chauffeurs, brought various stress among the stakeholders of the sport.
Executive Summary
The interaction audit, carried out in 2010, exposed that in spite of the fact that the service highly rely on the interactions in between its stakeholders, there was no identifiable organisation communication technique. (

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

Citigroup Asset Management Case Study Help viewers was highly faithful to the sport and the brand names connected with the NASCAR, making it appealing for sponsors and corporate marketers.

Problem Statement.

The company is currently dealing with the problem of declining rates of attendance at racing tracks and rates of tv viewers. This can put a substantial impact on its incomes from sponsors, media rights, and from other sources of profits.

Situational Analysis.

Although the company was quite effective till 2005 with its traditional marketing strategies, however not long after 2005 the company starts facing various issues consisting of decrease of its fan base. Several external as well as internal aspects are responsible for the decline. Internal factors consist of; insufficient investment in social networks and other digital medias of.

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 household system in America was changing resulting in decrease of impact of married male fan base over their youngsters. Together with it understandings about automobile was also altering with viewing automobile an automobile to reach at point B from point A, rather than as an enjoyable job. Other difficulties for Citigroup Asset Management Case Study Help includes the shift of its fans to other sports as they were enhancing their fan's experience enabling access to their broadcasts out of the houses through jumbo turns, Wi-Fi access, and so on. These all difficulties were tending the business to modify its marketing methods.

SWOT Analysis.


In SWOT analysis, strengths specified as business's qualities which are different from its competitors. These are company's core competencies on which company efficiency or business success based upon. Citigroup Asset Management Case Study Solution core competencies includes it has rights of determining guidelines as sanctioning body. Rules and guidelines relating to expert stock cars and truck racing are determined by NASCAR like if any group with required abilities and resources can enter into races by following guidelines and guidelines 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 United States. Its races were utilized to relay in more than 150 countries around the world with more than $56 million earnings. The primary sources of their profits originate from television rights, approving charges, 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 likewise large resource of fans and business sponsors. Due to the fact that of biggest brand name commitment of fans toward brands advertised by NASCAR, all the occasions of NASCAR are sponsored by corporates. (See Appendix A).

Weak points.

Weak points of NASCAR includes its close culture which is non collaborative. Citigroup Asset Management Case Study Solution establishes Cars and truck of Tomorrow without cooperation so result is that drivers did not like that principle. It was also discovered that NASCAR had no reliable strategy for service communication.
Porter's 5 Forces Analysis

Opportunities in SWOT analysis are external aspects which can be beneficial to company or the external elements on which business is having competitive advantage. NASCAR typically utilized to rely on conventional media sources like regional paper for promotion of its sports. Typically these traditional media sources try to cover their house team and specific kind of occasions. NASCAR likewise came to know from these conventional media outlets that sport was tough to cover. Media landscape likewise altered from traditional to digital landscape. Papers failed. NASCAR can deal with its capabilities to get maximum possible gain from this new digital landscape. NASCAR have underinvestment in digital resources. So it can capitalize in social and digital media to get its advantages. Digital rights of NASCAR were likewise offered to Turner Sports. NASCAR utilized to earn money check of around $15 million every year from Turner Sports. There are number of cons behind this deal. NASCAR had to get approval from Turner Sport if it desire to develop its Facebook page, twitter account or even mobile application. Turner Sport also had rights of every video which is shoot throughout race at track. If media sources like papers, publications and cable channels wish to post videos of races on their particular pages then they are required to pay licensing fees to Turner Sport. So NASCAR can deal with conditions and try to negotiate with Turner Sports to get optimal advantages of it. Star power plays really important role in generating revenues from every sport. However it was noted that Citigroup Asset Management Case Study Analysis is lagging in this location i.e. star power. For instance when sports fans were asked regarding popular stars and stars then NASCAR driver was not found even in top twenty responses. NASCAR can put efforts in this location too for profits generation. They ought to assist their drivers that how they can become sport stars. 4 strategic focuses which are produced by research group can also be functioned as chance for NESCAR. These four strategic focuses compares and analysis Citigroup Asset Management Case Study Help strategies.


Economic down turn was experienced in late 2000 which can be threat for NASCAR due to the fact that if there is economic down turn then individuals would be having less return on investment. Economic down turn also results in boost fuel costs which also affected NASCAR. Now if NASCAR make substantial investments in new sections which are based on brand-new customers then it may deal with negative comments from its core fan base.

Porter's 5 Forces Analysis

It is important to comprehend market in which business is working because NASCAR's bottom line i.e. net earnings is greatly depends on this. There are 5 forces that are utilized to determine profitability, intensity and beauty of NASCAR company.

Competitive Rivalry

This force suggests capability of rivals. Groups typically represents sponsors in NASCAR and the medium of marketing is drivers. For that reason it can be stated that drivers and race cars are competitors. If they got better chance in terms of prizes and tv exposure, these chauffeurs can go against Citigroup Asset Management Case Study Help. Then viewers can move to those other interesting automobiles and chauffeurs, if viewers take pleasure in other race cars and drivers more than NASCAR. NASCAR could be having hazard from its 2 direct competitors that is Solution 1 and Moto GP. They need to produce competitive advantages for motorists so they don't move to other competitors.
Swot Analysis
Provider Power

The supplier power indicates the variety of suppliers are available in industry and what is the cost associated with supplier if company shifts from one provider to another. In this market there is supply monopoly because motorists with needed resources and skills are limited.

Purchaser Power

This force is concerning to clients that is it simple for customers to move to other products. If there is more switching expense is associated then clients are less most likely to switch. In the case of NASCAR clients are its viewers. Because viewers will having low changing cost, viewers can switch to other competitors quickly.

Danger of Replacement

Alternatives are referred as alternatives. The replacements in this case can be other entertainment indicates like audiences can shift to other sports. There are broad range of alternatives are available in this scenario which recommends that risk of alternative is high.

Threat of New Entry

It is defined as how it is easy for any company to enter in that particular market. When it comes to Citigroup Asset Management Case Study Solution risk of brand-new entry is low. Due to the fact that if any company requires to go into in this service than they have to make heavy investments. They need to develop vehicles and racing tracks and also requires to pay significant amount to chauffeurs for switching.

PESTEL Analysis


It can not be concluded from case study that there would be modification in resource allocations. NASCAR had actually got gain from lower tax policies which results in increasing in profits. So they made heavy investments in the research and advancement. As NASCAR is working in different markets so it requires to face different guidelines. It is also kept in mind that Citigroup Asset Management Case Study Help has dealt with increased scrutiny relating to regulatory. Every federal government has various concern so NASCAR needs to be prepared for it as priority can be moved to other sector.


Financial elements consists of tax rate, currency exchange rate, financial performance of that particular company, conditions of labour market, inflation rate etc. If there is government intervention in the marketing and sales sector, fortunes of the NASCAR and its competitors can be impacted. NASCAR can leverage capabilities of staff members to produce new chances and enhance existing chances.


Each has various social worths and norms. It helps in understanding relating to society and preference of consumers.


Innovation has impact on almost every business. It consists of innovation in business technique. In this case of Citigroup Asset Management Case Study Help it can be noted that business are heavily spending for research study and development. NASCAR ought to likewise work on its media rights policy with Turner Broadcasting System.

Vrio Analysis
Legal plays an essential function in every country since every country has various legal conditions. Citigroup Asset Management Case Study Analysis needs to be ensure that they protect their legal rights in every county so any business does not harm to its legal rights.


Environmental factors are likewise important for every business. Due to the fact that typically governments do not allow those organisation which can damage to environment. These environmental elements consists of laws concerning contamination, environment change, safe waste disposal, policies concerning insurance coverage and so on. NASCAR requires to ensure that its cars are not creating contamination more than appropriate level.

7 P's of Marketing


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


Rates technique of NASCAR for its race events tickets is based upon the venue and importance of the racing occasions. Together with race events tickets, NASCAR also charge various service fees to its stakeholders and earns earnings. For instance it charged approving costs of $1-2 million per race usually in 2005.


Marketing strategy of Citigroup Asset Management Case Study Solution is extremely based upon its fan base. A strong fan base share its fandom with others and increase the variety of viewers for NASCAR races. The business is not entirely relied upon its fan base for its promotion and promote through regional radio stations too. The business has also embraced the retailing media of promotion, in which the company offers products with its logo.


NASCAR have its racing tracks in various cities in United States. The most important tracks of NASCAR includes Atlanta Motor Speedway in Georgia, Car Club Speedway in California and Darlington Raceway in South Carolina. It attempts to conduct its races in the majority of the cities in United States to grasp nationwide appeal.


Nestle people method is consisted of supplying much better experience to its audiences, its fan base and to all of its stakeholders. Individuals are an important element of Citigroup Asset Management Case Study Solution A marketing method as its events are the source of home entertainment for crowd. Its individuals method includes efforts to provide much better experience to its Fans, Race Drivers, Crew, Occasion Organizers and so on, all of which come under individuals technique of NASCAR.


Numerous company procedures are needed to perform racing events in an efficient way. These procedures consist of; appropriate schedule of time, plan for viewers, selling tickets, arrangement of space for sponsors, handling logistics etc. These all procedures contribute I developing NASCAR image, improving viewers experience and increasing fan base.

Physical Evidence.

Essential physical proofs for the NASCAR consists of the existence of its racing tracks, stock automobiles and racing events. In addition to it, its retailing brands including tee shirts, caps, goodies and so on, likewise function as a physical evidence for NASCAR.

Product Life Cycle Evaluation.

The racing events by NASCAR was presented on June 19, 1949. At the very first phase competition for NASCAR was low, as the competitors drove the vehicles comparable to the cars and trucks driven by common individuals.


After conducting its first race effectively the company moved towards developing its own tracks. The very first Citigroup Asset Management Case Study Help based track, particularly the Darlington Raceway track, was started 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 growth of racing tracks the business moved towards broadcasting its races on tv in 1979. The first occasion broadcasted on television was flag-to-flag coverage of Daytona.

In 1972, William France Jr., became the president of NASCAR and n about 3 years, he transformed NASCAR from a regional Sport popular company into one with international fan base. He started a brand-new era of lucrative sponsorships and television agreements for NASCAR.


The maturity duration for NASCAR started with the efforts of William France Jr., with the company having large range of earnings sources. The company has about 500 sponsors with broadcasting its events in about 150 nations. The business has large number of tracks in most of the cities of United States.


The significant causes of decrease consist of the financial crisis of 2008, which increased the cost of showing up at tracks for audiences due to increasing fuel prices, and the shifting of its fan base towards other sports.

Market Segmentation.

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


The geographical segmentation of Citigroup Asset Management Case Analysis is based upon the geographical existence of its tracks in numerous states and cities in United States, and the television broadcasting of its events in numerous countries. The company has 23 tracks in about 20 states of America and has tv broadcast through various Medias i.e. TNT, ESPN, ABC and Fox, in about 150 countries.This large geographical division provides the business regional in addition to global fan base.


The group division of NASCAR is likewise highlydiverse based upon the gender, earnings and age of the consumer. Its current fan base is majorly comprised of male married fans with an average age of 47 years and an earnings around $30-50 thousands. However currently NASCAR is attempting to increase its target audience to the young growing population and kinds too. To increase the market segment of its market NASCAR ought to modify its marketing techniques to attract more age groups and lower its prices to go into in the marketplace segment with a low average earnings.( htt1).


The psychological characteristics of most of the fans are quite comparable. NASCAR has a fan base with a commitment. NASCAR fans perceive it compulsive to purchase tickets and see the races when in a week. 71% of them prefer to buy products with a NASCAR brand. They are rather extrovert and are willing to join other fans while racing. They desire quality racing with low price at practical area. NASCAR has attempted to increase the quality of its racing by presenting stage racing, they also have actually attempted to lower rates and make the occasion more hassle-free by presenting live racing.


Behavioural segmentation of Citigroup Asset Management Case Study Solution is based upon the behaviour of fans in terms of seeing the race reside on the tv or by going in the occasions. Presently, the fans preference is towards watching the race at home on tv rather than going, as the client experience at NASCAR tracks is not favourable as well as expensive. This preference makes the rates for participation lower than the rates for television viewers. NASCAR has to alter the behaviour of its fan base by presenting qualitative services at its tracks.

Target Market.


Among the possible target audience of Citigroup Asset Management Case Study Analysis was Hispanics; the young and growing population of United States. The marketplace sector has great potential for NASCAR as the population was growing at a higher rate and it was anticipated to end up being 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 need a more focused marketing towards welcoming the segment towards racing.


Kids are also one of the possible target market section for NASCAR, as they are more linked socially than other groups. Producing fan base amongst kids can supply a potential increase in the number of fans for racing due to their connection. Kids spend the majority of their times in playing and using mobile phones video games. Automobile racing games developed by Citigroup Asset Management Case Study Analysis can be a possible source of gaining attention of kids towards NASCAR track racing. NASCAR's digital functions related to kids are not capable of getting the attention. NASCAR requires more attention towards customizing and improving its digital features to bring in the kids target audience.

This huge expenditure makes the section potential for NASCAR marketing technique of increasing its fan base. The market segment thinks about NASCAR as an organization lacking in producing a multiculturalism atmosphere. NASCAR ought to take various actions to enhance the experience of Generation Y consumers in its events.

5 C's of Marketing

5 C's of marketing helps in taking choices relating to marketing.


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


Citigroup Asset Management Case Study Help is a car racing business with having USP of high quality automobile racing with an international structure. Its sector is sports team and events.


Collaborations consists of distributors, suppliers and alliances of Citigroup Asset Management Case Study Solution. It is worked together with various racing teams which are taking part in racing. It also teamed up with Turners Sport for digital rights. NASCAR used to get pay check of around $15 million every year from Turner Sports. There are variety of cons behind this offer. NASCAR had to get approval from Turner Sport if it desire to produce its Facebook page, twitter account or even mobile application. Turner Sport likewise had rights of every single video which is shoot throughout race at track.


The consumer of Citigroup Asset Management Case Study Solution are its viewers. They target consumers with having age of 15-60 years. Fan base of NASCAR comprised of married males with a typical age of 47, which passes their fandom to their children and create generational loyalty.


The direct competitors of NASCAR are Solution 1 and Moto GP. Groups normally represents sponsors in NASCAR and the medium of marketing is drivers. It can be said that drivers and race vehicles are competitors. If they got much better chance in terms of rewards and television direct exposure, these chauffeurs can go against NASCAR.

Marketing Methods.

1. Preserving and developing Facebook Page.
One of the possible target markets sections for NASCAR is Hispanics which is the growing population sector of USA but sadly NASCAR had been not able to attract the this targeted section. In order to draw in the young growing generation the NASCAR should market by using social networks like Facebook. It needs to develop a Facebook page including the info relating to the races and the locations of tracks to make the consumer useful about the core operations of Citigroup Asset Management Case Study Analysis. It must likewise update its Facebook page on daily basis to supply details about its approaching events. This would make the target audience sector more useful about business and would result in drawing in large fans base.
2. Developing and Updating Accounts of Key Drivers.
NASCAR chauffeurs has a low star power as compare to gamers of other sports. Its ranks 7th in terms of star power (see Case Display). The major factor behind it is that, the racers mostly play in teams and are unable to develop a crucial account and keep a close contact with fans. The poor contacts with fans lead to less tourist attraction of audiences towards the racers and a low star power. Star power is an essential element for bring in viewers towards tracks and towards television. The star power for the motorists at NASCARA could be enhanced by producing and upgrading accounts of key motorists by NASCARA itself. This would remove the requirement of requiring motorists to keep their accounts and would result in increasing fans attention towards NASCARA drivers.
3. Establishing New Games and improving present games for kids.
Kids spent the majority of their time on playing games and using smart devices. Regrettably, 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 ought to improve its existing racing video games by introducing personalization in the vehicles i.e. changing colours, choice of speed, presenting group racing in the video game, utilizing better graphics related to the racing tracks and introducing numerous levels in the game. All these modifications in the present video game would supply much better experience to kids.
In addition to it, NASCAR needs to also develop brand-new video games associated with racing like kids racing with kids characters as motorists, cartoon racing with racing between various animation characters with a choice of picking the preferred cartoon character for the kids. These methods would enable the business to draw in among its potential target sectors.
4. Presenting multiculturalism at events.
NASCAR occasions are comprised of fans with really few cultural diversity, due to cost of arrival in occasions, making it unsightly for the customers perceiving sport occasions as social occasions i.e. Generation Y consumers. As the Generation Y clients are a prospective target market for NASCAR, therefore the company ought to take particular steps to attract this possible target market.
5. Improving Client Experience at Tracks.
Citigroup Asset Management Case Study Analysis should work on infrastructure and amenities at tracks since on the race day viewers got disappointed. Because in exact same industry other business are offering much better services than NASCAR, viewers have lots of expectations from Citigroup Asset Management Case Study Analysis. IF NASCAR don't work on this issue then its fans may moved to its rivals. According to fans there were not adequate centers were offered as compare to other sports suppliers. NASCAR needs to make sure that it provide adequate facilities that includes cleaned washrooms, comfy seating plan. They ought to likewise offer WIFI services and accessibility of credit cards throughout that track. It needs to be likewise make sure that there suffice jumbo turns put at all required places. There must be likewise food stalls that supply quality food to audiences. In this method audiences will be having pleasant 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, shows the cost associated information for the marketing techniques. (See Appendix B). It can be seen that technique 5 of improving consumer experience at tracks would need greatest initial investment and expense and method 4 of introducing multiculturalism will need lowest initial financial investment with least expensive further each year expense. The business ought to focus on the resource allowance on these techniques on the basis of its readily available resources and the possible advantages which the method would offer.
NOTE: The worths about expense are assumed on reasonable basis due the absence of facts and figures related to cost in the event research study. Inflation rate of United States is assumed to be 10%.

On the basis of deep analysis of the internal and external aspects 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 run. These techniques would manage internal aspects like bad client experience at tracks, inadequate social networks marketing, incapable digital medias like video games, lack of culturalisms at tracks and so on, in addition to with external factors like moving of fans towards other sports, demographical changes in America and altering family life designs.