NASCAR - the 4 Ps, integrated marketing communications, and...

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NASCAR was founded in 1948 when Bill France, whose family still owns and runs the organization, had the vision and grasped the opportunity to develop a central, sanctioning body for stock car auto racing. Stock car auto racing is now the fastest growing sport in the United States, with attendance at events greater than the NBA Final, Super Bowl, and World Series combined . Due to its excellent deployment of a well-crafted marketing strategy, many consider NASCAR an example of a marketing phenomenon. Some refer to it as a marketing vehicle within a marketing vehicle because in addition to doing a great job of marketing its own sport, NASCAR also provides an incredibly rich sponsorship opportunity to outside companies and sponsors. The video provides an abundance of examples illustrating NASCAR’s successful use of
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Unformatted text preview: the 4 Ps, integrated marketing communications, and the personal selling process. However, the lynchpin of this organizations marketing success has been its ability to convert its target market into an extremely brand loyal fan base with a unique emotional attachment to the sport. This consumer base consistently gives NASCAR not only its free time, but also a generous portion of its discretionary income. Because its fans are three times more likely to buy a NASCAR sponsors products, this organization does not have a problem attracting corporate participation to its licensing program. While other industries struggle for customers, NASCAR can barely satisfy its fanatical fan base....
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This note was uploaded on 12/08/2009 for the course COLL COLL148 taught by Professor Forgot during the Spring '08 term at DeVry Chicago.

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