Management Class 494, I Executive Summary Case

Management class 494, I Executive Summary case title Nascar: A Branding Success. Marketting Strategy book O.C. Ferrel, I international student, I write summary formal words make an international student essay IA, I sounds weird write Executive summary a I write.

NASCAR executive summary

NASCAR, short for The National Association for Stock Car Auto Racing, is a relatively small size firm, but which also has an increased importance within the national and international auto racing events. The success of the organization is based on several key features, including the dedication of the staff members to high quality operations and services, the wide reach of the company outside the geographic borders, but also, the strength of its marketing approach.

The marketing team of NASCAR is highly skilled and qualified, and, along the years, has produced some of the more successful measures to attracting the attention of the audience, as well as its trust and loyalty. In other words, the result of the marketing efforts has been represented by the creation of a strong brand, which precedes the company worldwide, and guarantees the satisfaction of the audience, as well as the final success of the firm.

The branding strategy of NASCAR is generally complex, with efforts made in numerous directions. One important direction in this sense is represented by the efforts made by the company in order to link its image and reputation with other reputable firms. In this setting, NASCAR tried to unite forces with top economic agents, in a co-branding effort. This measure allowed the capitalization of the marketing efforts in the meaning that the companies joined forces and the result was that of a combined success.

Still, in spite of its branding success, the company is currently faced with the severe problem of the economic recession, which is negative impacting its marketing operations.

"The most recent economic crisis has hit NASCAR hard. The majority of sports are suffering as sponsors pull their endorsements. Yet for NASCAR, which depends so much on its brand alliances and partnerships with other companies, the pullout of sponsors will have an even greater impact" (Ferrell and Hartline, 2010).

In this setting, the company is faced with three alternative choices. The first is that of maintaining the status quo and hoping for the best; the second is that of striving to find other sources of endorsements, whereas the third is that of reshaping its internal policy in order to become less dependent on endorsements. The table below reveals the pros and cons associated with each alternative solution:

Pros

Cons

1.

Maintain status quo

Simple approach which does not engage additional efforts or resources

Continued exposure to current risks; potentially sustained demise of the company

2.

Diversify sources of endorsement

Possibility to increase the company's budgets through endorsements from other companies

Economic hardship affects both current and potential sources of endorsement