Case 11 - IndyCar_ Jacob Fiero
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Apr 3, 2024
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Jacob Fiero
Case 11 - IndyCar:
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.
Many external factors have impacted and continue to impact IndyCar and its marketing efforts. One of the most significant external factors that affected IndyCar was the split between CART and IRL in
1996 which resulted in a decline in popularity and sponsorships for the racing organization. Another external factor would be the rise of NASCAR as the dominant force in the American motorsport racing industry. The rival league to IndyCar has attracted more fans and sponsors which has affected the racing league's popularity. COVID-19 is another external factor that affected IndyCar’s marketing efforts. This is because due to the pandemic, IndyCar had to cancel and postpone races with limited fan attendance which affected the league's revenue. Lastly, another external factor that is affecting IndyCar is the broadcasting deal it made with NBC which has brought the league new opportunities and exposure. Out of these factors the external factor of NASCAR seems to be the biggest threat and the new broadcasting deal with NBC is the league's biggest opportunity.
2.
What advantages does IndyCar possess over NASCAR? How should these advantages be used by IndyCar to compete with NASCAR?
When it comes to some of the advantages IndyCar has over NASCAR, one would include that it has a more diverse range of tracks for events. This can be seen with IndyCar having races on road courses, ovals, and street courses. Whereas NASCAR does not have as much variety when it comes to race tracks. This can make IndyCar more interesting for fans to watch due to the driving being more intense and exciting. Another advantage IndyCar has over NASCAR is how its events are positioned. IndyCar’s events are positioned more as entertainment events where fans can partake in activities such as kid's zones, beach volleyball, wine tastings, live concerts, etc. Whereas NASCAR events are more positioned just about the race that is happening. This can make IndyCar’s events more fun and popular to go to for fans than NASCAR.
3.
What can IndyCar learn from NASCAR’s success? Are there elements of NASCAR’s marketing strategy that IndyCar could adopt?
There are many things IndyCar could learn from NASCAR’s success. Firstly, NASCAR has done
a great job at marketing itself to a large audience. They have created a brand that is recognizable to fans
across the country. IndyCar could benefit from adopting this marketing strategy by investing more into its
marketing efforts to attract new fans and increase viewership. Another aspect IndyCar can learn from NASCAR’s success is by continuing to improve safety measures for its drivers. NASCAR has made significant strides in improving the safety of its drivers. IndyCar should continue to prioritize driver safety by implementing new technologies and safety protocols.
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