Article on Examiner.com takes a look at NASCAR’s marketing challenges and opportunities. Jon Ackley offers his perspective on some of the sport’s major issues.
As a brand new NASCAR fan, I am enjoying the array of sponsors and recognizing their specific products in stores. I can see now where the brand loyalty statistics come from because just today I saw Coke Zero in a grocery store and remembered getting a sample of it at the concessions at RIR. However, it has been reported recently that many big brand sponsors are pulling out of the Sprint Cup Series. Jim Beam and Jack Daniels both announced recently that they are not including NASCAR in their marketing plans in the near future. In addition, Lowe’s has announced that it will not hold the naming rights for the Lowe’s Motor Speedway after an 11-year relationship with Speedway Motorsports Inc. Is the declining economy to blame? Are companies struggling with the high costs of marketing and advertising their products within the Sprint Cup Series? It is really interesting and coincidental that two liquor companies pulled out, one after the other. Are NASCAR fans more likely to buy beer than liquor? What is the future for alcoholic beverages and sponsorship?
I am not sure exactly what is going on with these particular companies but I am assuming it is a combination of issues. It will be interesting to see what happens with the naming rights of the Charlotte Motor Speedway and if any other alcoholic beverage company announces an ending sponsorship.
And that’s the view from here.