- Pages: 3
- Word count: 605
- Category: Corporation
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1: Identify the external factors that have impacted and continue to impact IndyCar and its marketing efforts. Which factors appear to be IndyCar’s greatest opportunities and threats?
IndyCar has a few advantages over NASCAR being in the U.S. NASCAR has almost all of their drivers being white males from the U.S., were as IndyCar has drivers from All over the world which has given them an advantage in have a more divers driver base. In this Case study it is brought out to be a threat, however I believe that it can be a great advantage for IndyCar in diversifying their field, then they can strategically focus on the right market. I think one of their threats is the fact that they want to stay on the oval market even though NASCAR has the entire oval track racing covered. They have to keep a divers track layout which will keep the racing exciting.
2: What are IndyCar’s greatest strengths? Which weaknesses would you recommend IndyCar attempt to convert into strengths? How might these weaknesses be converted?
IndyCar has seen growth year over year since they have merged the CART and IRL series racing into one league. They have strong sponsors that appear will want to resign or other sponsors will fill that gap quickly. They have a new CEO that is promoting the IndyCar Series and pairing it with multiple brands and also putting into a kid’s movie that is sure to bring awareness among young crowds. On the other hand they are having a hard time finding funding for races in China that had to be cancelled and Baltimore that had to change promoters. I think if they are exploring the right markets and not holding onto or seeking empty markets they will have no trouble finding places to hold races.
3: What advantages does IndyCar possess over NASCAR? How should these advantages be used by IndyCar to compete with NASCAR?
IndyCar has a much more divers driver field than NASCAR, which means that IndyCar appeals to more people than just people in the South or Mid-West U.S. This can not only be played to compete against NASCAR with ethnic groups in finding another fan base. Also this can be used to compete against more sports other than motor sports it now puts sports like soccer into the equation as well.
4: What can IndyCar learn from NASCAR’s success? Are there elements of NASCAR’s marketing strategy that IndyCar could adopt?
I think IndyCar has been adopting their strategy however they shouldn’t mimic what NASCAR does they should listen to what their fans want out of IndyCar. Just like NASCAR fans want the oval track IndyCar fans want the road courses. I think if they continue to find more people that are interested in the sport in different markets and promot the races in those areas the will have long term success.
5: What steps should IndyCar take to move beyond the death of Dan Wheldon and reassure both fans and drivers about the safety of IndyCar racing?
First that IndyCar had to do and has done is replace the old Dallara chassis that they have been using for too long. The new cars are far more safe than the old ones and I think that was a huge step in the right direction. Furthermore after every crash they have to do a thorough investigation, consult all the drivers and release their findings to the public and with an action plan on how they are going to make it more safe in the future.