Complete Unit 3.docx - Complete Unit 3 According to this...

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Complete Unit 3 According to this week’s reading assignment understanding consumers and businesses processes for purchasing decision is beneficial to build relationships (Ferrell &Hartline, 2014). One of the most significant moments in the history of automobile racing was the first INDY 500 held back May 30, 1911 (Hall, 2012). Market Segmentation is dividing the total market for a group or product into segmented groups (Ferrell &Hartline, 2014). Tony George was President of the Indianapolis Speedway, created the IRL or the International Racing League as an open wheeled league that would compete with Championship Racing Teams (CART), the new league was disruptive to open-wheeled racing in the United States. As team owners were forced to decide whether they would stay with CART or move over to the new IRL (Ferrell &Hartline, 2014). CART was concerned that the interest of Americans in open-wheeled racing was being forced to focus on the promotion of foreign racers. Tony George developed the IRL to bring support back to America with open-wheeled racing (Ferrell &Hartline, 2014). Hence, this was a forced market segmentation. The split was not successful for several reasons. First, the IRL members only allowed IRL members of the IRL to race in the Indy 500 because George forced CART members to form their own event on the same day as the Indianapolis 500 (Ferrell &Hartline, 2014). CART drew over one hundred thousand spectators when it held the United States 500 at the Michigan International Speedway on the same Memorial Day Weekend (Ferrell &Hartline, 2014). There began a dispute between the two entities of IRL and CART which resulted in lawsuits (Ferrell &Hartline, 2014). A third reason for the unsuccessful split was while these two continued to dispute left them distracted on keeping an audience which allowed stock car racing to reinforce its standing as the favorite motor sport in the United States (Ferrell &Hartline, 2014). Lastly, the U.S. population lost interest during this time period in open-wheeled racing, and sponsors began to discontinue their relationship with IRL and CART. There was no benefit from the split of IRL and CART nor did open-wheeled racing maintain any momentum in the U.S. (Ferrell &Hartline, 2014). The split results of course were not the intentions of Tony George and this was a setback to open-wheeled racing (Ferrell &Hartline, 2014). This being an unpredictable sport and market the lack of attention was of course not the results George was anticipating and had there been more research he could have anticipated the stock racing consumer and audience (Ferrell &Hartline, 2014). Tony George intended to provide a cost- controlled oval track series to make the sport more accessible to drivers and team owners who could not afford CART’s million-dollar cars, George actually started the feud in open-wheeled racing. He forced a market segmentation that could not work because of the lack of investigating results. Perhaps a VALS survey could have identified his audience and the split was not enough to bring IRL to market. The races are different and

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