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
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