Marketing Strategy For Indycar : An Open Wheel Racing Sport Based On America.with Auto Racing
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2) Executive Summary 2.1) Synopsis
Our case analysis looks in depth at IndyCar which is an open-wheel racing sport based in America.With auto racing becoming more popular in the U.S. IndyCar is trying to compete with its top rival NASCAR in hopes of regaining fans and finding new sponsors to help keep IndyCar as a leader in the motorsports market. This analysis will take a deeper look at IndyCar’s internal and external environments as well as their customer environment and a complete SWOT analysis. To help with IndyCar’s issues, a problem statement as well as a few alternatives to help solve their problem will also be discussed in greater detail.
2.2) Major aspects of recommended strategy/ marketing plan
Our marketing strategy for IndyCar is to help solve the problem of different ways for IndyCar to strengthen its standing in the American motorsports market, in order to grow as a spectator sport in the auto racing industry. Alternatives like creating new relationships, ensuring the safety of drivers, and offering free advertising space are some of the ways to help IndyCar strengthen their presence in the motorsports industry.
3) Situation Analysis
After reading the IndyCar case it is best to start analysing their internal environment. Beginning with the target market for IndyCar which is mostly males between the ages of 25 and 60. Although IndyCar targets an older market they are trying to get a much younger audience by doing things like