NASCAR: AMERICAN MADE

NASCAR has been an American sporting icon for decades. Thousands of American families of all ages and sizes enjoy NASCAR events on a weekly basis. Nothing helps create a fond family memory of these experiences like a piece of official NASCAR memorabilia such as a T-shirt or baseball cap. Unfortunately, the vast majority of NASCAR memorabilia is manufactured outside of the United States. Recently, a renewed effort has been made to bring manufacturing of these items back to within the United States of America.

Charlotte Motor Speedway has identified this issue and is taking strides to adjust the situation. Charlotte Motor Speedway is located in North Carolina and is owned by parent company Speedway Motorsports Inc. SMI currently has a 50 percent share in the rights to a majority of NASCAR and team specific merchandise. Marcus Smith, president of Speedway Motorsports Inc., has begun to direct the company to order as much “Made in the USA” merchandise as possible. Smaller items such as pens, key chains, and other similar trinkets will continue to be manufactured overseas. However, larger items such as sweatshirts and jackets will begin production inside the US.

Smith recognizes that this new operation will involve more cost but states that it is only right to have American-made merchandise for such a traditionally patriotic sport. Smith believes that American NASCAR patrons will be more inclined to purchase merchandise if they are visually assured that items are made here in the United States of America. HR

Hall of Fame Attendance and Sponsorships Spur Cuts

In a tough economy cutting costs is always at the top of discussion, but how does the economy affect the motor sports market? Moreover, how do you avoid cutting costs to the point where people are not losing jobs? Unfortunately, the NASCAR Hall of Fame (HOF) is looking to cut between $2.5 million and $3 million annually in order to balance its budget. The reason for cutting costs is that attendance figures have not reached the level anticipated in Charlotte’s bid for the HOF. However, Tim Newman, CEO of the Charlotte Regional Visitors Authority (CRVA), stated in a recent NASCAR.com article that cutting costs at NASCAR’s HOF will not impact plans for any current or future exhibits nor the laying off of 27 ful-time employees. Nevertheless, the NASCAR Hall of Fame has witnessed a decline in the number of people visiting due to a poor and sluggish economy.
Subsequently, when trying to win the business of Hall of Fame participants, NASCAR finds itself competing with places like the Rock and Roll and the Country Music Hall of Fame, two other good attendance draws. Surprisingly, other sources reported that attendance at NASCAR was lower than expected during the summer months. The sluggish turnouts have resulted in a net loss of around $3 million for NASCAR. However, NASCAR is on par with anticipated attendance figures between 250,000 and 350,000 running close to Baseball’s Hall but just ahead of Pro Football’s Hall attendance according to this year’s projected forecast. Meanwhile, Country Music and Rock and Roll Hall’s first year’s attendance for both venues was estimated at around 800,000 respectively compared to the 800,000 respectively for the NASCAR Hall. In spite of a slow economy, NASCAR’s Hall of Fame was still the leader with around 300,000 as compared to baseball’s 280,000 and football’s 196,000. In retrospect, football’s highest attendance ever in the early 70′s was around 247,000. In conclusion, the NASCAR Hall is planning a new advertising campaign to help boost attendance.
It’s important to understand the dynamics of a sluggish economy whether it’s a lack of interest from tourists or the fact that people are just not flocking to the Hall of Fame on which millions were spent building. Ultimately, it’s important to remember that some individuals are able to visit the NASCAR Hall only by dipping into their discretionary income. Tim Newman suggested that there are several local promotions in the works; if successful, the local attendance could make budgets cuts less severe. AS

NASCAR Education

There is a negative stereotype that circles the world of NASCAR. It is sometimes hard to get people to break their stubbornness and watch a NASCAR race. I feel that there are still many people who do not have the desire to experience what NASCAR has to offer to the sports world. I recently had a conversation with one of my co-workers. I was discussing with her my enrollment in the Business of NASCAR class and she was stunned but also somewhat bothered by the fact that there is a class offered on NASCAR. The questions she presented were “What is so great about NASCAR that they would go as far as to have a class about it? What is the point? It is a boring thing to watch and is not a sport at all.” To the defense of the sport, I generously shared with her the information obtained from class.

What she learned from our discussion made her think that just maybe there is more to NASCAR then 43 cars driving fast in circles. There is an actual business behind the sport. She seemed to become curious about other aspects of NASCAR, which leads me to the reason of the need for NASCAR education for people that have no knowledge of the sport. I think that not only would that be a great way to grow the interest in the sport, but also the viewership, sponsorships and the overall excitement of the sport itself. I talked to one person and answered her questions and left a positive impression on her; imagine what could happen if everyone had that same opportunity that she had to learn about NASCAR. RP

More People, More Money

Elaborating on a discussion of the concession stands at NASCAR, it’s no surprise in this financially driven society that the number of merchandise options, both physical and virtual, are available to the multitude of NASCAR enthusiasts that represent likely the most diverse fan base in all of professional sports.
Possibly my favorite aspect of the NASCAR.com store was the custom shop page, a truly genius idea in my eyes. In this part of the website a fan, regardless of affiliation or level of NASCAR intensity, can select from many different types of clothing and outerwear as well as use numerous combinations of designs specific to NASCAR or its drivers. A wrinkle in the options that really benefits NASCAR is an extensive version of something I have seen in other similar sites, be they Greek school organizations or sports teams or anything similar. Each piece of merchandise, especially basic clothing, has not only the two basic sides (front and back) available for screen printing, but five possible positions: front, back, both sleeves, and an extra area at the top of the back for an optional driver’s signature or nameplate to make the shirt or sweat shirt that much more authentic. This personalizing comes with an extra $5 charge, a perfectly reasonable cost for “genuineness”. While most major sports’ websites do have the side sleeve option, the personal aspect of NASCAR’s edition – autographs, actual driver pictures – enables NASCAR to cater to that many more fans. Speaking specifically fiscally, the occurrence of more numerous merchandise options translates directly to a higher profit margin. The age old equation applies: More people, more money; more money, more fun.

It all comes back to business appeal and profitability, and while the NASCAR.com site cannot provide the atmosphere of a real NASCAR race, it does a great job of providing as extensive a selection of any particular brand of merchandise I’ve seen. The ability to cater to all types, shapes, and sizes really gives NASCAR a great deal of flexibility in the sales department. What other store offers grill covers, binoculars, cooler cushions, and satellite dish covers all with your favorite drivers’ name and number on it, and even some with the ability to be personalized further? The every-man nature of NASCAR’s business plan is really one to latch on to, and something I believe will continue to remain successful – as long as the gas doesn’t run out. DO

Lap of Luxury!

As I sat in a corporate suite at Richmond International Raceway during a memorable weekend, I was thankful for another opportunity to experience “The Suite Life.” My mother’s employer has been a sponsor of NASCAR for years, as a way to network with their employees and clients.

The suite is located on the third floor of a glass building that sits just behind the start/finish line at RIR. It features TV’s with live race coverage, a bar area with plenty of food and beverages and comfortable seating for about 65 guests. A satellite radio allowed me to tune into a specific driver of my choice throughout the race. The front wall of the suite is smoked glass, affording a great view of the track. Pit passes are also available. The pits are less than a hundred feet away. Many of the pits are within easy viewing. Directly in front of the suite is victory lane. Although my favorite driver didn’t participate in that Friday’s race, Carl Edwards, #33 won the race. Once you experience NASCAR life in a suite, you won’t want to experience it no other way! AS

Is the thrill of NASCAR gone?

After attending my first NASCAR Sprint Cup Series race at Richmond International Raceway, I made an observation about the empty seats at the track. Other sports organizations such as NFL and MLB have been seeing an increase in viewership and attendance. So, why is there a decline in attendance at the race tracks and viewership on TV? I speculate that the recent economical crisis has had a significant impact. In this financial environment, people have been lucky to keep their roof over their heads since money is tight. One thing is for certain: it becomes clear that what one wants and what one can do financially may not be the same. I also speculate that the interest of NASCAR is declining due to the lack of rivalries among the NASCAR drivers and the lack of rear car bumping leading to spinouts and accidents, which really draws attention and gets the adrenaline flowing. How many times this season have you notice feuding among drivers? I’m pretty sure you can count them on one hand.

Another thing that is rarely seen in recent competition is the bickering among drivers and the pushing and shoving while on the track. Maybe having good sportsmanship or not wanting to cause conflict has taken all the action away. Another speculation of why the interest of NASCAR has declined is the fact that Jimmie Johnson has won the “Race for the Chase Sprint Cup Series” for the last four consecutive years. The fact that Jimmie Johnson has won the Chase have some wondering if the Chase is rigged, if he has an advantage over everyone else, or if he’s just that good. People are tired of the same old same old results occurring; they want change, but not too much change. Finally, the alternative ways of tuning into NASCAR is another speculation as to why popularity is declining. NASCAR no longer has to be watched on TV; it can be watched online through computers or other electronic devices, listened to on the satellite radio, recorded on DVR or TIVO, or watched by catching the recap of ESPN Sport Center when it airs. It can be speculated that all of these factors are impacting the declining interest of NASCAR. So, what can be done to get the adrenaline running again in NASCAR? CB

Is the thrill of NASCAR gone?

After attending my first NASCAR Sprint Cup Series race at Richmond International Raceway, I made an observation about the empty seats at the track. Other sports organizations such as NFL and MLB have been seeing an increase in viewership and attendance. So, why is there a decline in attendance at the race tracks and viewership on TV? I speculate that the recent economical crisis has had a significant impact. In this financial environment, people have been lucky to keep their roof over their heads since money is tight. One thing is for certain: it becomes clear that what one wants and what one can do financially may not be the same. I also speculate that the interest of NASCAR is declining due to the lack of rivalries among the NASCAR drivers and the lack of rear car bumping leading to spinouts and accidents, which really draws attention and gets the adrenaline flowing. How many times this season have you notice feuding among drivers? I’m pretty sure you can count them on one hand.

Another thing that is rarely seen in recent competition is the bickering among drivers and the pushing and shoving while on the track. Maybe having good sportsmanship or not wanting to cause conflict has taken all the action away. Another speculation of why the interest of NASCAR has declined is the fact that Jimmie Johnson has won the “Race for the Chase Sprint Cup Series” for the last four consecutive years. The fact that Jimmie Johnson has won the Chase have some wondering if the Chase is rigged, if he has an advantage over everyone else, or if he’s just that good. People are tired of the same old same old results occurring; they want change, but not too much change. Finally, the alternative ways of tuning into NASCAR is another speculation as to why popularity is declining. NASCAR no longer has to be watched on TV; it can be watched online through computers or other electronic devices, listened to on the satellite radio, recorded on DVR or TIVO, or watched by catching the recap of ESPN SportsCenter when it airs. It can be speculated that all of these factors are impacting the declining interest of NASCAR. So, what can be done to get the adrenaline running again in NASCAR? CB

Current Events

There appears to be a lot of buzz surrounding this season of NASCAR. There also seems to be a lot of disappointment as far as sponsorship goes.

For instance, Wal-Mart just recently passed on sponsoring Jeff Gordon, who is arguably one of the better known names to the casual fans of NASCAR. Apparently Wal-Mart is seeking to have its presence felt across the sport among many drivers instead of just one. With Wal-Mart playing this financial game of lolligagging, the No. 24 still remains without a sponsor beginning in 2011.

On a lighter note, M&Ms host company, Mars Chocolate North America just got done holding its third annual “NASCAR’s Most Colorful Fan” contest. Entering was fairly simple: all you had to do was send a colorful racing themed photo. The incentive for entering was brilliant, as all participants received 15% off an online order on NASCAR.com’s superstore. Expect a winner to surface soon, as the contest just ended September 6!

CG

My NASCAR Experience

As occupants of this solid rock, also known as Earth, all humans have one strong commonality to each other. We all have experiences! In some cases, those experiences can be traumatic, but we are truly blessed to experience situations where we acquire something favorable from our experiences. On September 5, 2010, I finally viewed the true treasure of NASCAR.
Firstly, I must state that I am not a sports fan in any respect. However, I do cheer for the Giants, Jets and Yankees, but just because I am from New York. When it comes to sports I don’t appreciate the art from which it springs. I don’t study and research all of the technical details of sports like I research for school or my career. However, as a 20 year old young man, on the cusp of adulthood, there is one thing that I can tell that I do in reference to sports and that is giving sports a chance.
On a recent Sunday, as an act of doing my scholastic research for my Business of NASCAR (MGMT 491) course, I watched the NASCAR -sponsored Emory Healthcare 500. This was the first time ever that I watched a NASCAR race, and I can truly say that I was impressed. Watching the sheer speed of those cars circling that 100 plus year old track was amazing. I can only imagine the adrenaline gushing into the atmosphere at the track. Prior to this viewing I always wondered why did people like auto racing, but it’s more than just auto racing–it’s a magical experience. MF