Assignment #1

Assignment #1 - To: Michael Dore From: Sarah Lowery...

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To: Michael Dore From: Sarah Lowery Subject: Assignment #1 Five Management Philosophies Throughout the past years, NASCAR has best followed the Marketing Concept of the five management philosophies and strategies. For example, in the September 5 th Fortune article titled “NASCAR: Fastest Growing Sport”, the CEO of Home Depot creatively uses a photograph of Tony Stewart climbing a fence, with the words “Hey Tony, we have ladders”, underneath it. He then allowed customers to bring in the ad and receive a 10% discount. Another example in the same article of the Marketing Concept is the fact that 72% of NASCAR fans are more likely to buy a product (any product) if it has the NASCAR logo on it. Phil Chancy of San Martin, California states: “Absolutely, I don’t care what it is…gasoline, auto parts or whatever. If it has NASCAR on it, that’s the one I’m going to buy.” The NASCAR logo on anything will entice customers to buy it, even produce distributers put the logo on their potatoes, lettuce, and tomatoes and saw a 20% increase in sales! NASCAR focuses on the needs and wants of their target customers, and delivers to them exactly what they need, from auto parts to potatoes, better than their competitors do. NASCAR, of course receives a percentage of all products sold with their logo on it. They used the “sense and respond” method of production, and found the right products for their customers. I feel NASCAR has achieved above and beyond in competitors in
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Assignment #1 - To: Michael Dore From: Sarah Lowery...

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