Chat with us, powered by LiveChat I need some assistance with these assignment. the scope and domain of nascars branding strategy Than | Economics Write

I need some assistance with these assignment. the scope and domain of nascars branding strategy Thank you in advance for the help! The Scope and Domain of NASCAR’s Branding StrategyNASCAR has integrated multifarious marketing initiatives into a branding strategy that is well-organized. The paper discusses the scope and domain of marketing branding strategy that NASCAR employed to further its endeavors. Television was one of the company’s branding strategy reach. Initially, one had to watch the company’s racing event in person. As time went by, say mid 1970s, the company started receiving extensive television coverage. Thereafter, NASCAR relied on television as its medium for branding and all races in Winston Cup were televised. However, every track had to negotiate its contract with television. implying that each race anchored on different network. This was a hindrance for NASCAR. Thus, the company established its domain by signing contracts with television channels expanding broadcasting to about 167 countries (Aurand, 431). NASCAR also reached out to other companies by establishing co-branding relationships with them to gain competitive advantage. It also established scholarships from a great deal number of companies. The company was able to leverage its sponsors by ensuring that the outcome of sponsorship benefits both the company and the sponsors (Aurand, 431-432). For instance, drivers were expected to race incredibly, be available for marketing functions and be answerable to sponsors. Its profitability in sponsorship investment attracts more sponsors, however at the expense of expertise co-branding. In fact from the 2005 report, fans seemed to appreciate the company’s relationship with corporate sponsorship which earns NASCAR more credit and hence more customers. NASCAR extends its domain by involving fans in the sport, thus fans feel close connection with drivers enhancing the brand image of the sport. In conclusion, NASCAR needs to comprehend sustainable development for the safety of all. Its impact on the environment is grim and is likely to jeopardize both the company and the future environment. It should abort the use of harmful fuel such as leaded gasoline. Work citedAurand, Timothy and Judson, Kimberly. Case 11 NASCAR: Can’t Keep a Good Brand Down. Illinois: Northern Illinois University.

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