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2008
NASCAR Marketing Plan: New York
Dr. Lu
SES 533
4/22/08
Andy Havens
Blake Rizner
1
Table of Contents
I. Executive Summary
II. Background
Mission
Vision
Product
Competitive Environment
Objectives
Conclusion
III. Target Markets
Market Demographics
Market Needs
Market Trends
IV. Market Forecast
Market Growth
Target Market Growth
Conclusion
V. SWOT
Strengths
Weaknesses
Opportunities
Threats
Conclusion
VI. Marketing Strategy
Marketing Objectives
Financial Objectives
Target Marketing
Positioning
Strategy Pyramid
Market Research
Conclusion
2
VII. Marketing Mix
Product
Price
Place
Promotion
Public Relations
VIII. Marketing Budget
IX. Sales Forecast
X. Implementation / Controls
XI. References
3
I. Executive Summary
Overthe past fewyears NASCARhasbeentryingtodeveloparace track on StatenIslandinNew York
City.Many concernsabouttrafficissuesandbudgetconcernshave drawncontroversy,butnow building
a track onStatenIslandhas become more realistic.Surveyshave beenconductedand revealmore
acceptancesto NASCARfromthe local community.Here atthe StatenIslandRace ManagementTeam
we are dedicatedtobringthe NASCARexperience tothe greatstate of New York.Locatedon the
boroughof StatenIsland,our companywill bringoutthe verybestof the communityandhelpto further
create an evengreatercity.Our sloganis“the race is on”assuringpeople that NASCARishere andis
here to stay,so getreadyfor a great experience.We hope toprovide agreatand memorable experience
for the fanswhile providingrevenue forthe local community.
4
II. Background
Mission
“The NASCARcommunityisbuiltonasharedpassionfora sport unlike anyother.Withover75 million
fans,we want oursport to looklike Americaandattractthe besttalentandthe most dedicatedfansin
the world."
Vision
“To provide customerswiththe bestentertainmentexperience racinghastoofferand be the leaderand
innovatorinthe sportand entertainmentindustry.”
Product
The product offeredisactuallythe physical locationof the StatenIslandRace Track andsounding
attractions.The purpose of the race track isto brings new experience tothe citywhile generatingmore
profitandrevenuesforthe localsandthe sport.Extensionsof the productwouldinclude memorabilia
such as shirts,hats,race daygiveaways,and NASCARposters.
Competitive Environment
NASCARlieswithinthe competitive environmentthatcontainsleisureandentertainment productsor
servicesthatare both sportand non-sportrelated. Competitionforconsumer’s discretionaryincomeis
fierce and has onlyincreased due tothe currentlessfavorable economicconditions. Withinthe
segmentof sportentertainment NASCARisnotonlyindirectcompetitionwithotherracingevents,such
as the open-wheeledIndie carseries,butwithothersportentitiessuchasthe NFL,MLB and the NHL.
To compete inthiscategory sport organizationsare continuallytryingtoenhance theirproductofferings
to appeal toa largerpopulationandenhance the total productandexperience.
5
III. Target Markets
Market Demographics
The U.S. Census Bureauconductsa nationwide census every10years. The lastcensuswas conductedin
the year 2000. From1990 to 2000 the population of the UnitedStates increasedby arecord breaking
32.7 millionpeople. Of that32.7 million New Yorkaccountedfor684,000. This684,000 increase
representeda26.7% rise inNewYork’stotal populationbringingitto18,976,457. This putsNew York in
the top three mostpopulatedstatesalongwithCaliforniaandTexas respectively. Whenconsidering
metropolitanareaswithatotal populationof 5,000,000 or more, New York-NorthernNew Jersey-Long
Island,NY-NJ-CT-PA ranksfirstholding29.9% share of the total populationof metropolitanareas. This
meansthat NewYorkand the surroundingareas have a large,as well asdense populationmakingitan
attractive environmenttoofferproductsorservices.
Age
The medianage of the NewYork populationwas35.9 yearsold. Of the tenlargestcitiesNew Yorkhas
the highestmedianage. However,75.3% of the populationis18 and older while only12.9% of the
populationis65 and older. ThismeansthatalthoughNew Yorkhas a large populationitison average
an olderpopulationwhencomparednationally.
Gender
In NewYork,48.2% of the populationismale and51.8% isfemale. Whencomparednationallymale’s
make up slightlylessandfemale’smake upslightlymore of the populationinNew York. However,when
lookingatthe percentchange ingenderfrom1990 to 2000 the male populationincreasedby6% while
the female populationincreasedjustslightlylesswith5%. Thismeansthatwhile the femalepopulation
isslightlyhigherwhencomparedtootherstates,the male populationisgrowingandslowlycatchingup
to national averages.
6
Race
NewYork’spopulationispredominantlyWhite accountingfor61%. The nextlargestgroupis blackor
AfricanAmericanwhichmakesup14% and isfollowedcloselybyHispanicswhoaccountfor13% of the
population. Inplaceswith populations of 100,000 or more,New Yorkhad the largestWhite population
withover3.8 million.
Education
Whenlookingatthe level of educationwe considerthose whoare 25 years of age or older. InNewYork
84.1% of the populationhasobtainedahighschool degree orhigher. The State ranks tenthinthe
nationforindividualswhohave obtainedaBachelor’s degree at31% of the population. Thismeansthat
the populationisonaverage a highereducatedpopulation.
Income
The medianhouseholdincome forNewYorkis$51,384 per year,whichranks14th
in the nation. The
medianfamilyincomeis$61,138 per year. The percentage if individualslivingbelowthe povertyline in
NewYork currentlystandsat14.2%, whichisslightlyhigherthanthe national average of 13.3%.
61%14%
5%
13%
7%
White Black or African American Asian Hispanic
7
Median Household Income by County: New York
Employment
As of March 2008 the unemployment rate forthe state of New York was 4.8% reportedbythe Bureauof
Labor Statistics. Thisisbelowthe national rate of 5.1% postedduringthe same period. This
unemploymentrate hasstayedbelow5% inNew Yorkfor the lastthree years. Thismeansthat New
York has a stable economyandisresilientinthe face of macro economicconditions.
Marital Status
As of 2000 53.3% of malesand47.1% of females were married inthe state of New York. These numbers
fall belownational averagesby8.4%. Thismeansthat New York’spopulationiscomprisedof more
single peoplethanaverage.
8
Language
Of the populationinNewYork,28%speaka language otherthan Englishathome. Thisis muchhigher
than the 17.8% national average. Of all foreignlanguagesspokenathome Spanishisthe mostpopular
inthe Northeastwith4.5 millionpeople speakingthe language.
Market Needs
Accordingto Maslow’sHierarchyof Needs,afterphysiological andsafetyneedsare fulfilled,the third
layerof human needsissocial. Thispsychological aspectof Maslow'shierarchyinvolvesemotionally-
basedrelationshipsingeneral,suchasfriendship, intimacy,andfamily. Humansneedtofeel asense of
belongingand acceptance. Thissense of belongingcancome from a large social group or small social
connections. NASCAR’sgoal istooffera productthat fulfillsthe thirdmostimportanthumanneedby
providingalarge social groupto whichpeople canassociate themselveswith. Consumerswill benefit
fromproduct usage ina numberof waysincluding:
 Socialization
 Entertainment
0.0 1.0 2.0 3.0 4.0 5.0
All Other Languages
Asian and Pacific Island Languages
Other Indo-European Languages
Spanish
Millions
Non-English Languages Spoken at Home
Region: Northeast
9
 Social Bonding
 Immediate Acceptance
Satisfyingtheseneedsinafunand excitingwayata reasonable price will provide customerswitha
tremendousvalue infulfillingthisneed.
Market Trends
The top six marketingtrendsthat are and will affect NASCARinclude:
The Merging of Sports and Entertainment
Withthe advancementof sportmarketingwe have seensportevolve fromnational pastimestobig
businessentertainment. Professional Sporthasbecome anentertainmentmachinethatcompeteshead
to headwithall otherformsof entertainment. The arenaof competitionhasbecome the stage andthe
athleteshave become the stars. Anexample of thiscanbe foundinthe explosionof productextensions
such as music,in-game entertainment,half time shows,dance/acrobaticteams,andmanyotherforms
of creative programmingdeliveredtothe audience toincrease theirlevel of entertainment.
Corporate Marketing
As showninthe graph below the businessof advertisingisseeingimmense change inthe industry.
Corporationshave shiftedawayfromtraditional methodsof advertisingandhave begun tomarkettheir
productsor servicesthroughthe use of sponsorship. Since we know that66% of sponsorshipdollarsare
allocatedtosport,thishas an increasingimpactonsportbusiness. Since NASCARisone of the highest
grossingsportentitiesin regardstosponsorshipthisisatrendtheywill have tomonitorclosely. One of
theirbiggestchallengesistocontinue toincrease sponsorshiprevenue withoutdilutingthe value.
10
Annual Growth of Advertising, Sales Promotion, and Sponsorship
Digital and Web Content
Keepingconsumersengagedandconnectedisessential inmovingconsumers towardsheavyuserson
the escalatorof involvementandconsumption. The increase use of digital andwebcontentisessential
inkeepingconsumersengagedandconnected. Associetytransforms towardbeingmore technological
and informationdriven, NASCARmustsatisfy thatneedbyprovidingeasily accessibleinformationin
multiple formats. WiththeirpartnershipwithTurnerbroadcastmedia, NASCARhasdone agreatjob
thusfar on providingcustomerswhattheydemand. However,itisimportanttostayproactive inan
industrysegmentthatchangesatsuch a highpace.
Increased Number of Media Sources
As we move intothe digital age consumersare becomingmuchmore aware andcreative abouthow
theyconsume differentformsof media. The numberof mediasourcesnow availabletothe consuming
publichasgrownfrom three or fourto almostcountless. Where people usedtogettheirnewsand
informationfromprint,radio,andTV,theynow getit fromblogs,podcasts, YouTube,chatrooms,and
manymore. To ensure thatconsumersare receivingthe correctinformationregarding NASCARandits
brand,special attentionmustbe paidtoemergingmediasources.
People Brands
In the lastdecade the importance of brandinghascome to the forefrontinthe mindsof marketers. A
new phenomenon thathasbeenunique tosportinthe area of brandingisthe emergence of “People
11
Brands.” Sportsstars such as Michael Jordan,DavidBecham, andTigerWoods have developed
personalizedbrandsuniquetoownlikeness. Thisprovidesconsumernotonlyaconnectiontoa specific
sport buta personalitywithinthatsportas well. Itisinthe bestinterestof NASCARtodevelop
personalitiessuchasDale Jarred,Dale EarnhardtJr., BobbyLaBonte,as well asothersto provide the
customersthe opportunitytoassociate and alignthemselveswiththeirfavorite personality.
Globalization
As the speedof informationandtravel increasewe are seeingashrinkingeffectof the globe. Withan
immense numberof newmarketsanda growingnumberof consumers worldwide,the rewardsfor
global expansionare immense. Itisimportantfor NASCARtohave the foresighttobegina relationship
withconsumersabroad.
12
IV. Market Forecast
Market Growth
It isimportantto ensure thatproductof NASCARwill continue toflourishinthe New Yorkarea,nowand
inthe future. Toassure these desiredresultscome tofruition,the organizationneedstomake sure that
the marketin whichtheywishtoenterhasthe potential forgrowth.
To determine thispotentialwe have lookedtothe CensusBureau andfoundpredictionsinpopulation
change for the Middle Atlanticregionfrom2000 to 2030. Whenwe lookat these projectionswe find
that the marketis predictedtogrowbutat a verysmall rate. The area with the greatestpotential for
growthis NewJerseywitha16.5% increase inpopulationexpectedbetween2000 and 2030. Because
thisissuch a large marketwitha dense population there shouldnotbe muchcause for concernabout
the minimal amountof projectedgrowth. Yes,some otherareashave muchhigherlevelsof projected
growth;howeverthese areasare notalready densely populatedlike the Middle AtlanticRegion.
Change in Population in the Middle Atlantic Region
Numerical
change 2000-
2010
Numerical
change
2010-2020
Numerical
change
2020-2030
Numerical
change
2000-2030
Middle Atlantic 1,374,529 779,519 222,144 2,376,192
.New York 467,215 133,248 -99,491 500,972
.New Jersey 603,881 443,404 340,805 1,388,090
.Pennsylvania 303,433 202,867 -19,170 487,130
% Change in Population in the Middle Atlantic Region
Percent
change 2000-
2010
Percent
change
2010-2020
Percent
change
2020-2030
Percent
change
2000-2030
Middle Atlantic 3.5 1.9 0.5 6.0
.New York 2.5 0.7 -0.5 2.6
.New Jersey 7.2 4.9 3.6 16.5
.Pennsylvania 2.5 1.6 -0.1 4.0
13
Target Market Growth
As we knowthe targetmarketfor NASCARconsistsof:
 38% female/62%male
 38% w/collegedegree
 18% retired/unemployed;10%part-time;72% full time
 Average age between25-44yearsold
 64% married
Whenconsideringthe graphbelowwe findthatthe targetage demographicforNew Yorkis projectedto
maintaina consistentlevelof around2 millionfromnow until 2030. While we see nomajorsignsof
growthin thisareathere are still alarge numberof potential customersinthistargetage range without
any signsof shrinking.
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
2000 2005 2010 2015 2020 2025 2030
ProjectedPopulationsof SelectedAge Groups:NewYork
5-13 Years 14-17 Years 18-24 Years 25-44 Years 45-64 Years 65 Years and Over
14
Potential customers ineachmarketsegmentare expectedtogrow more sothan the categoryof age.
Signsof thiscan be foundinthe market analysis table.
Market Analysis of Potential Customers
Customer Growth 2010 2015 2020 2025 2030
WeekendGetaway
Customers
13% 21,032 22,142 23,476 24,932 26,349
Tourist 9% 10,985 12,014 12,834 13,573 14,111
Local Community 11% 13,251 13,944 14,722 15,532 16,029
Total 33%
Conclusion
In conclusionwe see thatthere isa sufficientamountof potentialgrowthinthismarkettomore than
supportthe introductionof NASCARevents. If NASCARwasable toattract evenonly2% of the current
populationof NewYorkthatwouldstill give themandattendance of 380,000 people,farsurpassingthe
80,000 seatcapacity of the proposedtrackinStatenIsland.
15
V. SWOT
Strengths
The organizational strengthsof NASCARinclude:
 NASCARBrand
 Finical Health
 SoundBusiness Practices
 WorldClassEvents
 WebPresence
 ProfessionalPersonalities
 Fan Base
Weaknesses
The organizational weaknessesof NASCARinclude:
 ProductDilution
 SponsorshipDilution
 Undesirable image
Opportunities
The industryopportunitiesfor NASCARinclude:
 IncreasedCorporate Interest
 Accessto WorldBusinessCenters
 Large / Dense Populationof Potential Customers
 Accessto Large HispanicandAfricanAmericanPopulations
 Tear DownStereotypes
 Increase Popularity
 Developmentof YoungFans
Threats
The industrythreatsforNASCARinclude:
 Image / Lifestyle Clash
 Intense Competition
 Political Opposition
 AreaConstraints/Costs
16
Conclusion
In conductinga SWOT analysisforthe StatenIslandProjectwe are able toevaluate the potentialbenefit
of movingintothisunique market. Aswe know, NASCARhasproventobe a top performerinthe
industrywithmanystrengthsandfew weaknesses. Inthe organizationscurrentpositiontheyare poised
to maintainanoffensivepositioninthe marketusingtheirstrengthstogoafteropportunitieswhile
stavingoff threats. For example,inthisnew marketof “BigBusiness” NASCARcantake advantage of
thissituationbyusingtheirstrengthsof havingagreat brandwithone of the largest,mostdedicatedfan
base inthe worldtodevelopnewpartnershipsandbusinessopportunitiesinone of the top economic
centersinthe world. NASCARcan alsouse itsstrengthof professional personalitiessuchasJuan Puablo
Montoya to openupand expose that Hispanicmarket.
17
VI. Marketing Strategy
Marketing Objectives
The main marketingobjectivesforthisprojectinclude:
 Create positive awareness of the NASCARproductinthe NY market
 Increase Fortune 500 Sponsorshipby 1%-1.5% (22million)
 Reach maximumattendance of 80,000 for each endeveryeventinStatenIsland
 Increase salesof ancillaryproducts6%
 Increase aviditylevelsinthe male andfemale 18-24 age range
 Obtaina 10% firstyearand a 2% increase share of the New Yorkarea marketeverysubsequent
year
Financial Objectives
The finical objectivesforNASCARinthe New YorkMarketinclude:
 Increase revenuesby10% overthe next5 years
 Obtaina 10% firstyearand 2% increase share of the New York area marketeverysubsequent
year
 Increase profitmarginsby5%
 Stable earningsduringperiodsof recession
Situational Analysis
Enteringthe NewYorkmarketexposes NASCARtomaynew situationsneverbeforeencountered bythe
organization.
Issues
 Exclusive
 Traditional
Opportunities
 EconomicCenter
 BusinessPartnership
 Image Transformation
18
Trends
 Social
 Business
Competitive Analysis
Competitioninthisregionisveryhighdue tothe large amountof sportand non-sportentertainment
options. These includebutare not limitedto:
Professional Sports
 NFL
o NY Jets
o NY Giants
o BuffaloBills
 MLB
o NY Yankees
o NY Mets
 NBA
o NY Knicks
o NJNets
 NHL
o NY Rangers
o NY Islanders
o NJDevils
 MLS
o NewYork RedBulls
College Sports
 Syracuse
 St. Johns
 NYU
 FordumUniversity
 Cornell University
19
Target Market
Groups of individualstowhomthe sportof NASCARcouldbe successfullypromotedtoinclude:
Demographics
 38% female/62%male
 38% w/collegedegree
 18% retired/unemployed;10%part-time;72% full time
 Average age between25-44yearsold
 64% married
Psychographics
 Social class
 Values
 Lifestyles
Product Benefit
 Thrilling
 Association
 Status
 Entertainment
Product Usage
 Heavy
o Seasonticketholders
 Medium
o Individual eventticketpurchasers
 Light
o Recreational sportconsumers
Positioning
The NASCARproductmust be redesignedtocapture a special place inthe mindof our targetconsumer
inthe NewYorkarea. Withso many formsof competition, NASCARmustdifferentiate theirproductand
positionitdifferentlythan itscompetitors.
In itsnature the sport itself isunique inmanyaspectswithregardstothe traditional fieldandball
sports. However,withsuchdeeplyrootedhistorical andtraditional tiestothese long-establishedsports,
NASCARwill have tofulfill the needforaunique sporting/entertainment experience.
20
To accomplishthis NASCARshouldpositionitself withinthe New Yorkmarketinsuch a way that
accomplishesdifferentiation. Thisunique positioningwill be accomplishedbycustomizingthe elements
of Product,Price,Place,Promotion,andPublicRelations. These elementsof the MarketingMix are
explainedindetail insectionVIIof thismarketingplan.
Strategy Pyramid
Strategy
Drive NewBusiness
and Cultivate
Relationships
Tatics
Advertising
Personal Selling
Pablicity
SalesPromotion
Programs
TV,Print,Radio,Internet
Coporation, Grassroots, Community
Clinics,Contests,PressRelses
TicketPackeges,SponsorPromo,Discounts,Cupons
21
Marketing Team
Due to the size andthe scope of boththe marketand thismarketingplan,itwill needtobe
implementedbyateam a skilledmarketingprofessionals. Here isour proposal:
Tactical Timeline
The timeline forwhichwe willuse toensure properimplementationof thisplanisasfollows:
VP
Marketing
Regional
Director
Corporate
Partners
Corporate
Sales
Corporate
Sales
Grassrouts
Street Team
Community
Community
Team
Research
Community
Intorduction
Develop
Corporate
Partners
Increase
Brand
Awareness
Impliment
Marketing
Plan
Evaluate
22
Market Research
To determine changesinthisspecificmarketovertime ourfocusshouldbe onconductingregular
narrow studies. These studies shouldinclude:
 CustomerSurveys
o AvidityLevels
o Behavioral Patterns
o BuyingPatterns
 Market Surveys
o Position
o Growth
 Market Reports
o Competition
o Market Share
o Trends
To deliveraproductthe customerwill love we needtoknow exactlywhattheydesire. We will doour
bestto obtainthisinformationthroughquantitative,qualitative,andCRMdrivenstudies. Tomaintaina
highlevel of awarenessconcerningthe competitive environmentwe competeinwe mustobtainas
much informationaspossible. We will achievethisthroughmarketsurveysandmarketreports.
23
VII. Marketing Mix
Product
The product offeredisactuallythe physical locationof the StatenIslandRace Track andsounding
attractions.The purpose of the race track isto brings new experience tothe citywhile generatingmore
profitandrevenuesforthe localsandthe sport.Extensionsof the productwouldinclude memorabilia
such as shirts,hats,race daygiveaways,and NASCARposters.
Price
NASCARwill continuethe traditionof pricingticketsaccordingtorace venue andprestige.Since Staten
Island’seconomycontinuestogrowandis a small boroughwitha bigcity feel,pricesforthe Staten
IslandRace will be slightlyhigherthanotherracesprices.Pricingforadmissionsisbasedonthree
factors;the pricingof otherraces insimilarmarkets,pricingof competingvenueswithinthe city,and
whatthe race andbring andadd to NewYork City. Itis veryimportantthe value of the productrelates
closelytothe value of the price,inotherwordsour customersgettheirmoney’sworth
A Similarrace suchas UAW Dodge 400 in Las VegassellsticketsrangingfromS105 forbasic ticketsto
$275 for higherendluxurysitting.Thisisthe price range that the StatenIslandRace wouldbe lookingto
sell,due to the fact that NewYorkCityis a big vacationandtouristlocationjustlike LasVegas. Belowis
a price chart forthe 2009 UAW Dodge 400 Race
2009 UAW Dodge 400 NASCAR Tickets
UAW-DaimlerChrysler 400 Race · 3/01/09
Section Rows
1-10
Red
Rows
11-27
White
Rows
28-49
Blue
All Rows
Section 1 or 3 $105 $165 $210 -
Section 2 $160 $155 $220 -
Section 4 -- $115 $165 -
Earnhardt Terrace - - - $275
Petty Terrace - - - $275
24
NewYork Cityiswell verse inthe sportsthatit offers.Mostsportfans view New Yorkasaccountable for
producingsome of the bestsportsteamsin the world.Thiswill be nodifferentforthe StatenIsland
NASCARRace.Withthisin minditisimperative thatthe race also pricesitsadmissionsbythe same
standardsand reasoningasotherteamsfoundinNew York do.All sportsand teamslocatedinNewYork
Cityhave theiradmissionspricedrelativelyhighcomparedtothe average.Thisisdue mainlytothe
prestige of manyof the teamslocatedinNew York as well asthe amenitiesthe cityhastooffer.Thisis
alsosomethingtoconsiderwhensettingafinal price forthe StatenIsland NASCARRace
The race will alsobringaddedvalue tothe city.A new marketwill encompassthe cityand NASCARfans
will be eagertoexplore whatNewYorkCityhasto offer.Withall of appropriate aspectsexaminedand
takingintoconsiderationthatitwouldbe the firstyearof the race The StatenIslandRace Management
Team findsitsuitable tohave aprice range from$100 to $ 300 dollarsdependingonthe seats.
Place
The StatenIslandRace Track is the largestsportsfacilityproposedforNew YorkCityinrecentyears.The
track wouldseat80,000 fans,watchingcars race arounda track three-quartersof amile long,neara
new620,000 square foot retail mall ona 675-acre site.The site isa formerBATXoil tank farmlocated
off the West Shore Expressway,southof the GoethalsBridge inBloomfield,StatenIsland.The locationis
the largestvacant industrial propertyinNew YorkCity.Buildingatrackon thisarea wouldrevitalize the
westshore,butmostimportantlyturnwaste landintouseful profitableland.
25
Promotion
Througha promotionscampaign,The StatenIslandRace ManagementTeamwill promotethe tackand
NASCARheavily. A campaignwill be focusedonthe phrase “the race is on” due mainlyinpartto New
York Citiesfastpace life style,anddeterminationtobe the best.Anin-depthadvertisingcampaignwill
launchthe newsof the StatenIslandRace Track and get fansexcitedforopeningday.Advertisements
will be placedin the NewYorkTimes,the DailyNews,andthe New YorkPost.$100,000 for 6 mountsof
advertisementswouldbe allocatedtopace half page ads inthe sportsectionsof mostlythe DailyNews,
NewYork Post,andthe GothamGazette (StatenIsland’slocal paper). Researchshowsthatthose who
are mostlylikelytoattendaNASCAReventare alsomore inclinedtoreadthe Dailynewsorthe New
York Post. Advertisinginthe NewYorkTimeswill create national exposure.
A majorityof advisementswillbe launchedviathe webandtelevisioncommercials.Another$100,000
wouldbe givenby NASCARaswell ascollectedfromthe StatenIslandRace ManagementTeam.This
wouldcover3 mountsof 30 secondadson televisionaswell aswebpresence onESPN.com,
NASCAR.com,andsportsillustrated.com.Publicitywill be soughtforththroughpromotingoncity
billboardsandtaxi cab,bus,and subwaysignage.$40,000 dollarswill be spentadvertisingonthe ground
level,i.e.subways,busses,andbillboards.A majorityof advertisementsandpromotionswill be targeted
to fansof othersports.YankeesgamesandKnicksgamesare perfectopportunitiestopromote the race
and handout free promotionsandmediakits.
Public Relations
Most of the publicrelationseffortswill be focusedoncommunityinvolvement.Sincethe ideaof
buildingatrack inStatenIslandhassteeredupsome negativity,itisimportant forThe StatenIsland
Race ManagementTeamas well as NASCARtohave a presence inthe community.Appearancesfrom
NASCARdriversaswell as NASCARexecutivesthroughoutthe Citywill increase awareness.Charity
eventsandfundraisersforlocal schoolsandyouthleagueswill gainthe muchneededsupportfrom
residents. NASCARdriverswillbe scheduledtomake local appearancesonce amonthat othersporting
events,parties,andmuseums.Communityeventssuchasparkrestorations,youthleague fundraisers,
marathons,parades,andcity cleaningeventswillbe heldonce amonthuntil openingday.
26
VIII. Marketing Budget
Line-Item Budget
Our marketingbudgetisbasedonourscompany’sgoalsandobjectivesthe schedule we have setto
meetthese goals.Ourresearchteamhasalso examinedthe industryaverage of marketingdollarsspent
as a percentof sale forsimilarcompaniesinthe sportsindustry.Ourproposedbudgetisrealisticin
comparisontoothersimilarcompanies. Ourmarketingteamhasalsoestimatedwhatourimmediate
competitor’sadvertisingandmarketingbudgetsare we hope thatthiswouldallow ustobecome
competitiveandpossiblygainmore marketshare.
Marketing Budget: New York
Category Quantity Cost per Unit Subtotal
Advertising
Brochures 5,000 $0.15 $750.00
Mailings 15,000 $0.04 $600.00
postcards 15,000 $0.03 $450.00
Television 90 $1,100.00 $99,000.00
Radio 25 $200.00 $5,000.00
Newspapers 20 $5,000.00 $10,000.00
Billboards 3 $2,000.00 $6,000.00
Bus sides 10 $800.00 $8,000.00
Subwayposters 25 $500.00 $12,500.00
PublicRelations
Charityevents 10 $500.00 $50,000.00
DriverPromotions 10 $500.00 $50,000.00
Sponsorships 5 $2,000.00 $10,000.00
Promotions
Productgiveaways 100 $8.00 $800.00
ProductDiscounts 300 $3.00 $900.00
Special offers 200 $2.50 $500.00
Totals 35,798 $12,613.72 $254,500.00
27
IX. Sales Forecast
Six Year Forecast
Beginningin2007, NASCARhasimplementedaneightyear,$4.48 billiontelevisiondeal thatwill
increase the organizationsrevenueby40 % eachyear. NASCAR,whichbringsin$555 millionayearin
annual revenue fortelevisedprofessional sports,isrankedbehindthe NFL,NBA,andMLB. The research
on NASCARtracksand revenue islimitedbutanestimate suggeststhatthe average NASCARrace track
makesabout$500,000 a year,withabout$300,000 beingprofit.Thisiswhatour teamforecastsforthe
upcomingseasons.The firstyears will be spenttryingtomake backmoneyspentonopeningand
establishinganewrace track. It is estimatedthatinfouryearsour race track will startseeingsteady
revenue.Within6yearswe hope tosurpassthe average revenue earningfora NASCARrace track.
28
X. Implementation / Controls
Implementation
Since we have takenconsiderablecare inthe preparation of thisplanwe will implementitaccordingto
plan. However,asthe marketchangesour marketingmix canalsobe adjustedtoaccommodate for
those changes. We are dedicatedtofulfill ourcustomers’needsatall times.Consumerwantsmight
change overtime;thiscan easilybe addressedbychangingouradvertisingmessage.We planto
implementourmarketingplan inconfidence withall membersof ourorganizationonboardandinline
withour missionandvision.
Controls
To measure the progressandlevel of performance we will implementthe use of amarketingscorecard.
Thisscorecard will be usedtoreevaluate the performance of the planasitrelatestoour objectivesas
well ascustomersatisfaction. Thisscorecardwill be appliedtothe planona bi-monthlybasisaswell as
immediatelyaftereachevent.
29
XII. References
Allen Gregory (23 January).COLUMN: WillNASCAR return to its roots? McClatchy - Tribune
BusinessNews. Retrieved April 15, 2008, from ABI/INFORMComplete database. (Document
ID: 1417093071).
Barry Janoff (2008, February). NASCAR's 50th Daytona 500 Offers Golden
Opportunities. Brandweek,49(5),14. Retrieved April 3, 2008, from ABI/INFORM
Complete database. (Document ID: 1429467201).
Bran Strickland (22 April). NASCAR: A numbers game. McClatchy - TribuneBusiness News.
Retrieved April 3, 2008, from ABI/INFORM Complete database. (Document
ID: 1466450611).
Bureau of Labor Statistics, Regional Resources; New York. Retrieved April 18, 2008, from:
http://www.bls.gov/ro2/ro2_ny.htm
George O'Brien(2007, August). Marketing vehicles. BusinessWest,24(6),32. Retrieved April 5,
2008, fromABI/INFORM Complete database. (Document ID: 1324338201).
www.Staten Island NASCAR track.com.Retrieved April 20, 2008 from
http://www.statenislandNASCARtrack.com/news/sticking_together_for_NASCAR_track_sta
ten_island.htm
www.tickco.comRetrievedApril 20, 2008 fromhttp://www.tickco.com/NASCAR-las-vegas-uaw-
dodge-400-tickets.htm
Lander, B., (2005) NASCAR, the largest proposed NYCsports stadium of all. GothamGazette
Retrieved April 20th from
http://www.gothamgazette.com/article/landuse/20050614/12/1442
Stewart, L., James, M. (2005) It's Pedal to Metal on New TV Deal: NASCAR announces a $4.48-billion
pact with fournetworks that willrank it fourth in annual revenue for televised professional
sports. USC MarshallRetrieved April 20 from
30
http://www.marshall.usc.edu/execed/programs/sbi/sbipress/pedal-to-metal-on-new-tv-
deal.htm
Tom Lowry (2004, February). The PrinceOf NASCAR; Brian France, son of stock-carracing's
founding family, has taken charge at a critical moment. Can he make the multibillion-dollar
machine go even faster? Business Week,(3871),90-98. Retrieved April 18, 2008, from
ABI/INFORM Complete database. (DocumentID: 547225381).
U.S. CensusBureau,FactSheet;NewYork. RetrievedApril18,2008, from:
http://factfinder.census.gov/servlet/ACSSAFFFacts?_event=ChangeGeoContext&geo_id=16000
US3651000&_geoContext=&_street=&_county=New+York&_cityTown=New+York&_state=&_zi
p=&_lang=en&_sse=on&ActiveGeoDiv=&_useEV=&pctxt=fph&pgsl=010&_submenuId=factsheet
_1&ds_name=ACS_2006_SAFF&_ci_nbr=null&qr_name=null&reg=null%3Anull&_keyword=&_in
dustry=

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Nascar Marketing Plan

  • 1. 2008 NASCAR Marketing Plan: New York Dr. Lu SES 533 4/22/08 Andy Havens Blake Rizner
  • 2. 1 Table of Contents I. Executive Summary II. Background Mission Vision Product Competitive Environment Objectives Conclusion III. Target Markets Market Demographics Market Needs Market Trends IV. Market Forecast Market Growth Target Market Growth Conclusion V. SWOT Strengths Weaknesses Opportunities Threats Conclusion VI. Marketing Strategy Marketing Objectives Financial Objectives Target Marketing Positioning Strategy Pyramid Market Research Conclusion
  • 3. 2 VII. Marketing Mix Product Price Place Promotion Public Relations VIII. Marketing Budget IX. Sales Forecast X. Implementation / Controls XI. References
  • 4. 3 I. Executive Summary Overthe past fewyears NASCARhasbeentryingtodeveloparace track on StatenIslandinNew York City.Many concernsabouttrafficissuesandbudgetconcernshave drawncontroversy,butnow building a track onStatenIslandhas become more realistic.Surveyshave beenconductedand revealmore acceptancesto NASCARfromthe local community.Here atthe StatenIslandRace ManagementTeam we are dedicatedtobringthe NASCARexperience tothe greatstate of New York.Locatedon the boroughof StatenIsland,our companywill bringoutthe verybestof the communityandhelpto further create an evengreatercity.Our sloganis“the race is on”assuringpeople that NASCARishere andis here to stay,so getreadyfor a great experience.We hope toprovide agreatand memorable experience for the fanswhile providingrevenue forthe local community.
  • 5. 4 II. Background Mission “The NASCARcommunityisbuiltonasharedpassionfora sport unlike anyother.Withover75 million fans,we want oursport to looklike Americaandattractthe besttalentandthe most dedicatedfansin the world." Vision “To provide customerswiththe bestentertainmentexperience racinghastoofferand be the leaderand innovatorinthe sportand entertainmentindustry.” Product The product offeredisactuallythe physical locationof the StatenIslandRace Track andsounding attractions.The purpose of the race track isto brings new experience tothe citywhile generatingmore profitandrevenuesforthe localsandthe sport.Extensionsof the productwouldinclude memorabilia such as shirts,hats,race daygiveaways,and NASCARposters. Competitive Environment NASCARlieswithinthe competitive environmentthatcontainsleisureandentertainment productsor servicesthatare both sportand non-sportrelated. Competitionforconsumer’s discretionaryincomeis fierce and has onlyincreased due tothe currentlessfavorable economicconditions. Withinthe segmentof sportentertainment NASCARisnotonlyindirectcompetitionwithotherracingevents,such as the open-wheeledIndie carseries,butwithothersportentitiessuchasthe NFL,MLB and the NHL. To compete inthiscategory sport organizationsare continuallytryingtoenhance theirproductofferings to appeal toa largerpopulationandenhance the total productandexperience.
  • 6. 5 III. Target Markets Market Demographics The U.S. Census Bureauconductsa nationwide census every10years. The lastcensuswas conductedin the year 2000. From1990 to 2000 the population of the UnitedStates increasedby arecord breaking 32.7 millionpeople. Of that32.7 million New Yorkaccountedfor684,000. This684,000 increase representeda26.7% rise inNewYork’stotal populationbringingitto18,976,457. This putsNew York in the top three mostpopulatedstatesalongwithCaliforniaandTexas respectively. Whenconsidering metropolitanareaswithatotal populationof 5,000,000 or more, New York-NorthernNew Jersey-Long Island,NY-NJ-CT-PA ranksfirstholding29.9% share of the total populationof metropolitanareas. This meansthat NewYorkand the surroundingareas have a large,as well asdense populationmakingitan attractive environmenttoofferproductsorservices. Age The medianage of the NewYork populationwas35.9 yearsold. Of the tenlargestcitiesNew Yorkhas the highestmedianage. However,75.3% of the populationis18 and older while only12.9% of the populationis65 and older. ThismeansthatalthoughNew Yorkhas a large populationitison average an olderpopulationwhencomparednationally. Gender In NewYork,48.2% of the populationismale and51.8% isfemale. Whencomparednationallymale’s make up slightlylessandfemale’smake upslightlymore of the populationinNew York. However,when lookingatthe percentchange ingenderfrom1990 to 2000 the male populationincreasedby6% while the female populationincreasedjustslightlylesswith5%. Thismeansthatwhile the femalepopulation isslightlyhigherwhencomparedtootherstates,the male populationisgrowingandslowlycatchingup to national averages.
  • 7. 6 Race NewYork’spopulationispredominantlyWhite accountingfor61%. The nextlargestgroupis blackor AfricanAmericanwhichmakesup14% and isfollowedcloselybyHispanicswhoaccountfor13% of the population. Inplaceswith populations of 100,000 or more,New Yorkhad the largestWhite population withover3.8 million. Education Whenlookingatthe level of educationwe considerthose whoare 25 years of age or older. InNewYork 84.1% of the populationhasobtainedahighschool degree orhigher. The State ranks tenthinthe nationforindividualswhohave obtainedaBachelor’s degree at31% of the population. Thismeansthat the populationisonaverage a highereducatedpopulation. Income The medianhouseholdincome forNewYorkis$51,384 per year,whichranks14th in the nation. The medianfamilyincomeis$61,138 per year. The percentage if individualslivingbelowthe povertyline in NewYork currentlystandsat14.2%, whichisslightlyhigherthanthe national average of 13.3%. 61%14% 5% 13% 7% White Black or African American Asian Hispanic
  • 8. 7 Median Household Income by County: New York Employment As of March 2008 the unemployment rate forthe state of New York was 4.8% reportedbythe Bureauof Labor Statistics. Thisisbelowthe national rate of 5.1% postedduringthe same period. This unemploymentrate hasstayedbelow5% inNew Yorkfor the lastthree years. Thismeansthat New York has a stable economyandisresilientinthe face of macro economicconditions. Marital Status As of 2000 53.3% of malesand47.1% of females were married inthe state of New York. These numbers fall belownational averagesby8.4%. Thismeansthat New York’spopulationiscomprisedof more single peoplethanaverage.
  • 9. 8 Language Of the populationinNewYork,28%speaka language otherthan Englishathome. Thisis muchhigher than the 17.8% national average. Of all foreignlanguagesspokenathome Spanishisthe mostpopular inthe Northeastwith4.5 millionpeople speakingthe language. Market Needs Accordingto Maslow’sHierarchyof Needs,afterphysiological andsafetyneedsare fulfilled,the third layerof human needsissocial. Thispsychological aspectof Maslow'shierarchyinvolvesemotionally- basedrelationshipsingeneral,suchasfriendship, intimacy,andfamily. Humansneedtofeel asense of belongingand acceptance. Thissense of belongingcancome from a large social group or small social connections. NASCAR’sgoal istooffera productthat fulfillsthe thirdmostimportanthumanneedby providingalarge social groupto whichpeople canassociate themselveswith. Consumerswill benefit fromproduct usage ina numberof waysincluding:  Socialization  Entertainment 0.0 1.0 2.0 3.0 4.0 5.0 All Other Languages Asian and Pacific Island Languages Other Indo-European Languages Spanish Millions Non-English Languages Spoken at Home Region: Northeast
  • 10. 9  Social Bonding  Immediate Acceptance Satisfyingtheseneedsinafunand excitingwayata reasonable price will provide customerswitha tremendousvalue infulfillingthisneed. Market Trends The top six marketingtrendsthat are and will affect NASCARinclude: The Merging of Sports and Entertainment Withthe advancementof sportmarketingwe have seensportevolve fromnational pastimestobig businessentertainment. Professional Sporthasbecome anentertainmentmachinethatcompeteshead to headwithall otherformsof entertainment. The arenaof competitionhasbecome the stage andthe athleteshave become the stars. Anexample of thiscanbe foundinthe explosionof productextensions such as music,in-game entertainment,half time shows,dance/acrobaticteams,andmanyotherforms of creative programmingdeliveredtothe audience toincrease theirlevel of entertainment. Corporate Marketing As showninthe graph below the businessof advertisingisseeingimmense change inthe industry. Corporationshave shiftedawayfromtraditional methodsof advertisingandhave begun tomarkettheir productsor servicesthroughthe use of sponsorship. Since we know that66% of sponsorshipdollarsare allocatedtosport,thishas an increasingimpactonsportbusiness. Since NASCARisone of the highest grossingsportentitiesin regardstosponsorshipthisisatrendtheywill have tomonitorclosely. One of theirbiggestchallengesistocontinue toincrease sponsorshiprevenue withoutdilutingthe value.
  • 11. 10 Annual Growth of Advertising, Sales Promotion, and Sponsorship Digital and Web Content Keepingconsumersengagedandconnectedisessential inmovingconsumers towardsheavyuserson the escalatorof involvementandconsumption. The increase use of digital andwebcontentisessential inkeepingconsumersengagedandconnected. Associetytransforms towardbeingmore technological and informationdriven, NASCARmustsatisfy thatneedbyprovidingeasily accessibleinformationin multiple formats. WiththeirpartnershipwithTurnerbroadcastmedia, NASCARhasdone agreatjob thusfar on providingcustomerswhattheydemand. However,itisimportanttostayproactive inan industrysegmentthatchangesatsuch a highpace. Increased Number of Media Sources As we move intothe digital age consumersare becomingmuchmore aware andcreative abouthow theyconsume differentformsof media. The numberof mediasourcesnow availabletothe consuming publichasgrownfrom three or fourto almostcountless. Where people usedtogettheirnewsand informationfromprint,radio,andTV,theynow getit fromblogs,podcasts, YouTube,chatrooms,and manymore. To ensure thatconsumersare receivingthe correctinformationregarding NASCARandits brand,special attentionmustbe paidtoemergingmediasources. People Brands In the lastdecade the importance of brandinghascome to the forefrontinthe mindsof marketers. A new phenomenon thathasbeenunique tosportinthe area of brandingisthe emergence of “People
  • 12. 11 Brands.” Sportsstars such as Michael Jordan,DavidBecham, andTigerWoods have developed personalizedbrandsuniquetoownlikeness. Thisprovidesconsumernotonlyaconnectiontoa specific sport buta personalitywithinthatsportas well. Itisinthe bestinterestof NASCARtodevelop personalitiessuchasDale Jarred,Dale EarnhardtJr., BobbyLaBonte,as well asothersto provide the customersthe opportunitytoassociate and alignthemselveswiththeirfavorite personality. Globalization As the speedof informationandtravel increasewe are seeingashrinkingeffectof the globe. Withan immense numberof newmarketsanda growingnumberof consumers worldwide,the rewardsfor global expansionare immense. Itisimportantfor NASCARtohave the foresighttobegina relationship withconsumersabroad.
  • 13. 12 IV. Market Forecast Market Growth It isimportantto ensure thatproductof NASCARwill continue toflourishinthe New Yorkarea,nowand inthe future. Toassure these desiredresultscome tofruition,the organizationneedstomake sure that the marketin whichtheywishtoenterhasthe potential forgrowth. To determine thispotentialwe have lookedtothe CensusBureau andfoundpredictionsinpopulation change for the Middle Atlanticregionfrom2000 to 2030. Whenwe lookat these projectionswe find that the marketis predictedtogrowbutat a verysmall rate. The area with the greatestpotential for growthis NewJerseywitha16.5% increase inpopulationexpectedbetween2000 and 2030. Because thisissuch a large marketwitha dense population there shouldnotbe muchcause for concernabout the minimal amountof projectedgrowth. Yes,some otherareashave muchhigherlevelsof projected growth;howeverthese areasare notalready densely populatedlike the Middle AtlanticRegion. Change in Population in the Middle Atlantic Region Numerical change 2000- 2010 Numerical change 2010-2020 Numerical change 2020-2030 Numerical change 2000-2030 Middle Atlantic 1,374,529 779,519 222,144 2,376,192 .New York 467,215 133,248 -99,491 500,972 .New Jersey 603,881 443,404 340,805 1,388,090 .Pennsylvania 303,433 202,867 -19,170 487,130 % Change in Population in the Middle Atlantic Region Percent change 2000- 2010 Percent change 2010-2020 Percent change 2020-2030 Percent change 2000-2030 Middle Atlantic 3.5 1.9 0.5 6.0 .New York 2.5 0.7 -0.5 2.6 .New Jersey 7.2 4.9 3.6 16.5 .Pennsylvania 2.5 1.6 -0.1 4.0
  • 14. 13 Target Market Growth As we knowthe targetmarketfor NASCARconsistsof:  38% female/62%male  38% w/collegedegree  18% retired/unemployed;10%part-time;72% full time  Average age between25-44yearsold  64% married Whenconsideringthe graphbelowwe findthatthe targetage demographicforNew Yorkis projectedto maintaina consistentlevelof around2 millionfromnow until 2030. While we see nomajorsignsof growthin thisareathere are still alarge numberof potential customersinthistargetage range without any signsof shrinking. 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 2000 2005 2010 2015 2020 2025 2030 ProjectedPopulationsof SelectedAge Groups:NewYork 5-13 Years 14-17 Years 18-24 Years 25-44 Years 45-64 Years 65 Years and Over
  • 15. 14 Potential customers ineachmarketsegmentare expectedtogrow more sothan the categoryof age. Signsof thiscan be foundinthe market analysis table. Market Analysis of Potential Customers Customer Growth 2010 2015 2020 2025 2030 WeekendGetaway Customers 13% 21,032 22,142 23,476 24,932 26,349 Tourist 9% 10,985 12,014 12,834 13,573 14,111 Local Community 11% 13,251 13,944 14,722 15,532 16,029 Total 33% Conclusion In conclusionwe see thatthere isa sufficientamountof potentialgrowthinthismarkettomore than supportthe introductionof NASCARevents. If NASCARwasable toattract evenonly2% of the current populationof NewYorkthatwouldstill give themandattendance of 380,000 people,farsurpassingthe 80,000 seatcapacity of the proposedtrackinStatenIsland.
  • 16. 15 V. SWOT Strengths The organizational strengthsof NASCARinclude:  NASCARBrand  Finical Health  SoundBusiness Practices  WorldClassEvents  WebPresence  ProfessionalPersonalities  Fan Base Weaknesses The organizational weaknessesof NASCARinclude:  ProductDilution  SponsorshipDilution  Undesirable image Opportunities The industryopportunitiesfor NASCARinclude:  IncreasedCorporate Interest  Accessto WorldBusinessCenters  Large / Dense Populationof Potential Customers  Accessto Large HispanicandAfricanAmericanPopulations  Tear DownStereotypes  Increase Popularity  Developmentof YoungFans Threats The industrythreatsforNASCARinclude:  Image / Lifestyle Clash  Intense Competition  Political Opposition  AreaConstraints/Costs
  • 17. 16 Conclusion In conductinga SWOT analysisforthe StatenIslandProjectwe are able toevaluate the potentialbenefit of movingintothisunique market. Aswe know, NASCARhasproventobe a top performerinthe industrywithmanystrengthsandfew weaknesses. Inthe organizationscurrentpositiontheyare poised to maintainanoffensivepositioninthe marketusingtheirstrengthstogoafteropportunitieswhile stavingoff threats. For example,inthisnew marketof “BigBusiness” NASCARcantake advantage of thissituationbyusingtheirstrengthsof havingagreat brandwithone of the largest,mostdedicatedfan base inthe worldtodevelopnewpartnershipsandbusinessopportunitiesinone of the top economic centersinthe world. NASCARcan alsouse itsstrengthof professional personalitiessuchasJuan Puablo Montoya to openupand expose that Hispanicmarket.
  • 18. 17 VI. Marketing Strategy Marketing Objectives The main marketingobjectivesforthisprojectinclude:  Create positive awareness of the NASCARproductinthe NY market  Increase Fortune 500 Sponsorshipby 1%-1.5% (22million)  Reach maximumattendance of 80,000 for each endeveryeventinStatenIsland  Increase salesof ancillaryproducts6%  Increase aviditylevelsinthe male andfemale 18-24 age range  Obtaina 10% firstyearand a 2% increase share of the New Yorkarea marketeverysubsequent year Financial Objectives The finical objectivesforNASCARinthe New YorkMarketinclude:  Increase revenuesby10% overthe next5 years  Obtaina 10% firstyearand 2% increase share of the New York area marketeverysubsequent year  Increase profitmarginsby5%  Stable earningsduringperiodsof recession Situational Analysis Enteringthe NewYorkmarketexposes NASCARtomaynew situationsneverbeforeencountered bythe organization. Issues  Exclusive  Traditional Opportunities  EconomicCenter  BusinessPartnership  Image Transformation
  • 19. 18 Trends  Social  Business Competitive Analysis Competitioninthisregionisveryhighdue tothe large amountof sportand non-sportentertainment options. These includebutare not limitedto: Professional Sports  NFL o NY Jets o NY Giants o BuffaloBills  MLB o NY Yankees o NY Mets  NBA o NY Knicks o NJNets  NHL o NY Rangers o NY Islanders o NJDevils  MLS o NewYork RedBulls College Sports  Syracuse  St. Johns  NYU  FordumUniversity  Cornell University
  • 20. 19 Target Market Groups of individualstowhomthe sportof NASCARcouldbe successfullypromotedtoinclude: Demographics  38% female/62%male  38% w/collegedegree  18% retired/unemployed;10%part-time;72% full time  Average age between25-44yearsold  64% married Psychographics  Social class  Values  Lifestyles Product Benefit  Thrilling  Association  Status  Entertainment Product Usage  Heavy o Seasonticketholders  Medium o Individual eventticketpurchasers  Light o Recreational sportconsumers Positioning The NASCARproductmust be redesignedtocapture a special place inthe mindof our targetconsumer inthe NewYorkarea. Withso many formsof competition, NASCARmustdifferentiate theirproductand positionitdifferentlythan itscompetitors. In itsnature the sport itself isunique inmanyaspectswithregardstothe traditional fieldandball sports. However,withsuchdeeplyrootedhistorical andtraditional tiestothese long-establishedsports, NASCARwill have tofulfill the needforaunique sporting/entertainment experience.
  • 21. 20 To accomplishthis NASCARshouldpositionitself withinthe New Yorkmarketinsuch a way that accomplishesdifferentiation. Thisunique positioningwill be accomplishedbycustomizingthe elements of Product,Price,Place,Promotion,andPublicRelations. These elementsof the MarketingMix are explainedindetail insectionVIIof thismarketingplan. Strategy Pyramid Strategy Drive NewBusiness and Cultivate Relationships Tatics Advertising Personal Selling Pablicity SalesPromotion Programs TV,Print,Radio,Internet Coporation, Grassroots, Community Clinics,Contests,PressRelses TicketPackeges,SponsorPromo,Discounts,Cupons
  • 22. 21 Marketing Team Due to the size andthe scope of boththe marketand thismarketingplan,itwill needtobe implementedbyateam a skilledmarketingprofessionals. Here isour proposal: Tactical Timeline The timeline forwhichwe willuse toensure properimplementationof thisplanisasfollows: VP Marketing Regional Director Corporate Partners Corporate Sales Corporate Sales Grassrouts Street Team Community Community Team Research Community Intorduction Develop Corporate Partners Increase Brand Awareness Impliment Marketing Plan Evaluate
  • 23. 22 Market Research To determine changesinthisspecificmarketovertime ourfocusshouldbe onconductingregular narrow studies. These studies shouldinclude:  CustomerSurveys o AvidityLevels o Behavioral Patterns o BuyingPatterns  Market Surveys o Position o Growth  Market Reports o Competition o Market Share o Trends To deliveraproductthe customerwill love we needtoknow exactlywhattheydesire. We will doour bestto obtainthisinformationthroughquantitative,qualitative,andCRMdrivenstudies. Tomaintaina highlevel of awarenessconcerningthe competitive environmentwe competeinwe mustobtainas much informationaspossible. We will achievethisthroughmarketsurveysandmarketreports.
  • 24. 23 VII. Marketing Mix Product The product offeredisactuallythe physical locationof the StatenIslandRace Track andsounding attractions.The purpose of the race track isto brings new experience tothe citywhile generatingmore profitandrevenuesforthe localsandthe sport.Extensionsof the productwouldinclude memorabilia such as shirts,hats,race daygiveaways,and NASCARposters. Price NASCARwill continuethe traditionof pricingticketsaccordingtorace venue andprestige.Since Staten Island’seconomycontinuestogrowandis a small boroughwitha bigcity feel,pricesforthe Staten IslandRace will be slightlyhigherthanotherracesprices.Pricingforadmissionsisbasedonthree factors;the pricingof otherraces insimilarmarkets,pricingof competingvenueswithinthe city,and whatthe race andbring andadd to NewYork City. Itis veryimportantthe value of the productrelates closelytothe value of the price,inotherwordsour customersgettheirmoney’sworth A Similarrace suchas UAW Dodge 400 in Las VegassellsticketsrangingfromS105 forbasic ticketsto $275 for higherendluxurysitting.Thisisthe price range that the StatenIslandRace wouldbe lookingto sell,due to the fact that NewYorkCityis a big vacationandtouristlocationjustlike LasVegas. Belowis a price chart forthe 2009 UAW Dodge 400 Race 2009 UAW Dodge 400 NASCAR Tickets UAW-DaimlerChrysler 400 Race · 3/01/09 Section Rows 1-10 Red Rows 11-27 White Rows 28-49 Blue All Rows Section 1 or 3 $105 $165 $210 - Section 2 $160 $155 $220 - Section 4 -- $115 $165 - Earnhardt Terrace - - - $275 Petty Terrace - - - $275
  • 25. 24 NewYork Cityiswell verse inthe sportsthatit offers.Mostsportfans view New Yorkasaccountable for producingsome of the bestsportsteamsin the world.Thiswill be nodifferentforthe StatenIsland NASCARRace.Withthisin minditisimperative thatthe race also pricesitsadmissionsbythe same standardsand reasoningasotherteamsfoundinNew York do.All sportsand teamslocatedinNewYork Cityhave theiradmissionspricedrelativelyhighcomparedtothe average.Thisisdue mainlytothe prestige of manyof the teamslocatedinNew York as well asthe amenitiesthe cityhastooffer.Thisis alsosomethingtoconsiderwhensettingafinal price forthe StatenIsland NASCARRace The race will alsobringaddedvalue tothe city.A new marketwill encompassthe cityand NASCARfans will be eagertoexplore whatNewYorkCityhasto offer.Withall of appropriate aspectsexaminedand takingintoconsiderationthatitwouldbe the firstyearof the race The StatenIslandRace Management Team findsitsuitable tohave aprice range from$100 to $ 300 dollarsdependingonthe seats. Place The StatenIslandRace Track is the largestsportsfacilityproposedforNew YorkCityinrecentyears.The track wouldseat80,000 fans,watchingcars race arounda track three-quartersof amile long,neara new620,000 square foot retail mall ona 675-acre site.The site isa formerBATXoil tank farmlocated off the West Shore Expressway,southof the GoethalsBridge inBloomfield,StatenIsland.The locationis the largestvacant industrial propertyinNew YorkCity.Buildingatrackon thisarea wouldrevitalize the westshore,butmostimportantlyturnwaste landintouseful profitableland.
  • 26. 25 Promotion Througha promotionscampaign,The StatenIslandRace ManagementTeamwill promotethe tackand NASCARheavily. A campaignwill be focusedonthe phrase “the race is on” due mainlyinpartto New York Citiesfastpace life style,anddeterminationtobe the best.Anin-depthadvertisingcampaignwill launchthe newsof the StatenIslandRace Track and get fansexcitedforopeningday.Advertisements will be placedin the NewYorkTimes,the DailyNews,andthe New YorkPost.$100,000 for 6 mountsof advertisementswouldbe allocatedtopace half page ads inthe sportsectionsof mostlythe DailyNews, NewYork Post,andthe GothamGazette (StatenIsland’slocal paper). Researchshowsthatthose who are mostlylikelytoattendaNASCAReventare alsomore inclinedtoreadthe Dailynewsorthe New York Post. Advertisinginthe NewYorkTimeswill create national exposure. A majorityof advisementswillbe launchedviathe webandtelevisioncommercials.Another$100,000 wouldbe givenby NASCARaswell ascollectedfromthe StatenIslandRace ManagementTeam.This wouldcover3 mountsof 30 secondadson televisionaswell aswebpresence onESPN.com, NASCAR.com,andsportsillustrated.com.Publicitywill be soughtforththroughpromotingoncity billboardsandtaxi cab,bus,and subwaysignage.$40,000 dollarswill be spentadvertisingonthe ground level,i.e.subways,busses,andbillboards.A majorityof advertisementsandpromotionswill be targeted to fansof othersports.YankeesgamesandKnicksgamesare perfectopportunitiestopromote the race and handout free promotionsandmediakits. Public Relations Most of the publicrelationseffortswill be focusedoncommunityinvolvement.Sincethe ideaof buildingatrack inStatenIslandhassteeredupsome negativity,itisimportant forThe StatenIsland Race ManagementTeamas well as NASCARtohave a presence inthe community.Appearancesfrom NASCARdriversaswell as NASCARexecutivesthroughoutthe Citywill increase awareness.Charity eventsandfundraisersforlocal schoolsandyouthleagueswill gainthe muchneededsupportfrom residents. NASCARdriverswillbe scheduledtomake local appearancesonce amonthat othersporting events,parties,andmuseums.Communityeventssuchasparkrestorations,youthleague fundraisers, marathons,parades,andcity cleaningeventswillbe heldonce amonthuntil openingday.
  • 27. 26 VIII. Marketing Budget Line-Item Budget Our marketingbudgetisbasedonourscompany’sgoalsandobjectivesthe schedule we have setto meetthese goals.Ourresearchteamhasalso examinedthe industryaverage of marketingdollarsspent as a percentof sale forsimilarcompaniesinthe sportsindustry.Ourproposedbudgetisrealisticin comparisontoothersimilarcompanies. Ourmarketingteamhasalsoestimatedwhatourimmediate competitor’sadvertisingandmarketingbudgetsare we hope thatthiswouldallow ustobecome competitiveandpossiblygainmore marketshare. Marketing Budget: New York Category Quantity Cost per Unit Subtotal Advertising Brochures 5,000 $0.15 $750.00 Mailings 15,000 $0.04 $600.00 postcards 15,000 $0.03 $450.00 Television 90 $1,100.00 $99,000.00 Radio 25 $200.00 $5,000.00 Newspapers 20 $5,000.00 $10,000.00 Billboards 3 $2,000.00 $6,000.00 Bus sides 10 $800.00 $8,000.00 Subwayposters 25 $500.00 $12,500.00 PublicRelations Charityevents 10 $500.00 $50,000.00 DriverPromotions 10 $500.00 $50,000.00 Sponsorships 5 $2,000.00 $10,000.00 Promotions Productgiveaways 100 $8.00 $800.00 ProductDiscounts 300 $3.00 $900.00 Special offers 200 $2.50 $500.00 Totals 35,798 $12,613.72 $254,500.00
  • 28. 27 IX. Sales Forecast Six Year Forecast Beginningin2007, NASCARhasimplementedaneightyear,$4.48 billiontelevisiondeal thatwill increase the organizationsrevenueby40 % eachyear. NASCAR,whichbringsin$555 millionayearin annual revenue fortelevisedprofessional sports,isrankedbehindthe NFL,NBA,andMLB. The research on NASCARtracksand revenue islimitedbutanestimate suggeststhatthe average NASCARrace track makesabout$500,000 a year,withabout$300,000 beingprofit.Thisiswhatour teamforecastsforthe upcomingseasons.The firstyears will be spenttryingtomake backmoneyspentonopeningand establishinganewrace track. It is estimatedthatinfouryearsour race track will startseeingsteady revenue.Within6yearswe hope tosurpassthe average revenue earningfora NASCARrace track.
  • 29. 28 X. Implementation / Controls Implementation Since we have takenconsiderablecare inthe preparation of thisplanwe will implementitaccordingto plan. However,asthe marketchangesour marketingmix canalsobe adjustedtoaccommodate for those changes. We are dedicatedtofulfill ourcustomers’needsatall times.Consumerwantsmight change overtime;thiscan easilybe addressedbychangingouradvertisingmessage.We planto implementourmarketingplan inconfidence withall membersof ourorganizationonboardandinline withour missionandvision. Controls To measure the progressandlevel of performance we will implementthe use of amarketingscorecard. Thisscorecard will be usedtoreevaluate the performance of the planasitrelatestoour objectivesas well ascustomersatisfaction. Thisscorecardwill be appliedtothe planona bi-monthlybasisaswell as immediatelyaftereachevent.
  • 30. 29 XII. References Allen Gregory (23 January).COLUMN: WillNASCAR return to its roots? McClatchy - Tribune BusinessNews. Retrieved April 15, 2008, from ABI/INFORMComplete database. (Document ID: 1417093071). Barry Janoff (2008, February). NASCAR's 50th Daytona 500 Offers Golden Opportunities. Brandweek,49(5),14. Retrieved April 3, 2008, from ABI/INFORM Complete database. (Document ID: 1429467201). Bran Strickland (22 April). NASCAR: A numbers game. McClatchy - TribuneBusiness News. Retrieved April 3, 2008, from ABI/INFORM Complete database. (Document ID: 1466450611). Bureau of Labor Statistics, Regional Resources; New York. Retrieved April 18, 2008, from: http://www.bls.gov/ro2/ro2_ny.htm George O'Brien(2007, August). Marketing vehicles. BusinessWest,24(6),32. Retrieved April 5, 2008, fromABI/INFORM Complete database. (Document ID: 1324338201). www.Staten Island NASCAR track.com.Retrieved April 20, 2008 from http://www.statenislandNASCARtrack.com/news/sticking_together_for_NASCAR_track_sta ten_island.htm www.tickco.comRetrievedApril 20, 2008 fromhttp://www.tickco.com/NASCAR-las-vegas-uaw- dodge-400-tickets.htm Lander, B., (2005) NASCAR, the largest proposed NYCsports stadium of all. GothamGazette Retrieved April 20th from http://www.gothamgazette.com/article/landuse/20050614/12/1442 Stewart, L., James, M. (2005) It's Pedal to Metal on New TV Deal: NASCAR announces a $4.48-billion pact with fournetworks that willrank it fourth in annual revenue for televised professional sports. USC MarshallRetrieved April 20 from
  • 31. 30 http://www.marshall.usc.edu/execed/programs/sbi/sbipress/pedal-to-metal-on-new-tv- deal.htm Tom Lowry (2004, February). The PrinceOf NASCAR; Brian France, son of stock-carracing's founding family, has taken charge at a critical moment. Can he make the multibillion-dollar machine go even faster? Business Week,(3871),90-98. Retrieved April 18, 2008, from ABI/INFORM Complete database. (DocumentID: 547225381). U.S. CensusBureau,FactSheet;NewYork. RetrievedApril18,2008, from: http://factfinder.census.gov/servlet/ACSSAFFFacts?_event=ChangeGeoContext&geo_id=16000 US3651000&_geoContext=&_street=&_county=New+York&_cityTown=New+York&_state=&_zi p=&_lang=en&_sse=on&ActiveGeoDiv=&_useEV=&pctxt=fph&pgsl=010&_submenuId=factsheet _1&ds_name=ACS_2006_SAFF&_ci_nbr=null&qr_name=null&reg=null%3Anull&_keyword=&_in dustry=