Conduct a SWOT analysis for NASCAR at this point in its history.
NASCAR has a lot of success when it comes to branding. Since the companies origination
in 1948 their popularity has soared, and are the top auto racing series in the United States
(Ferrell & Hartline, 414). NASCAR is also the second most popular sport right behind the
NFL, but NASCAR fans are said to be the most brand-loyal (Ferrell & Hartline, 414).
While NASCAR has many strengths and opportunities that help it be the thriving company
that it is, the company also faces numerous internal weaknesses and external threats.
NASCAR’s brand loyalty and branding alliances are their two greatest strengths. The
company has hundreds of branding alliances with different sponsors which helps to
provide them with a greater competitive advantage (Ferrell & Hartline, 420). NASCAR
takes their sponsorship deals extremely seriously making companies want to align with
them. This concept of co-branding has been found to be extremely profitable, and saves
the companies from having to promote themselves through traditional media. Due to the
fact that NASCAR fans are the most brand loyal customers, partnering with NASCAR is
very desirable to other companies. NASCAR prides itself on having such high brand
loyalty, and they do things to show their fans that they care. There is a great sense of
community within NASCAR and fans feel as though they are engages in the sport (Ferrell
& Hartline, 423). These two factors attribute to NASCAR’s brand loyalty.
While there are a number of internal weaknesses, one major weakness that NASCAR faces
