Introducing Formula 1 Racing to the United States
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Transcript of Introducing Formula 1 Racing to the United States
Formula 1
RacingBringing Advanced Technology and Speed
to the United States
Presented By:
Michael Kanago
Marsha Buchanan
Scott Horn
Paula-Kaye Herdsman
Carrie Qin
NASCAR? NASCANT!
• Jeff Gordon couldn’t have said it better
“If they want to see the most technically advanced car that
exists...faster than anything that is humanly possible in your mind, then
go and see a F1 race”
Formula 1 vs NASCAR Demographics
• Wealthy, educated Males: mid 20’s-mid 40’s
• Average disposable income of $70,000
• Mainly in the Northeast
Formula 1:
NASCAR Demographics
SWOT Analysis
Strength Highest class of auto racing
Perception: most expensive, high-end and glamorous sport
World-wide fan following
Highly advanced purpose-built fallacy
Weakness No famous local racer
Expensive tickets
Haven’t gained an American fan base
Perception: dangerous, lack of entertainment
Opportunity Creating more job opportunities (add to the economy)
The success of the host of US F1 in Austin-Texas
Americans’ enthusiasm toward sports and advanced technology
Convenient transportation, lower air ticket price
Threat Competition with NASCAR
The popularity and loyalty of other sports in the US (football)
Miss out financially
MLS and Formula 1: A Blueprint
Major League Soccer
• 3rd largest attendance in U.S. pro sports
• Largest growth rate of any U.S. pro league
• 10th largest attendance rate of any professional soccer
league
• 2nd youngest fan base; 3rd highest average income
MLS and Formula 1: A Blueprint
Source: theatlantic.com, 2014
MLS and Formula 1: A Blueprint
The MLS Recipe for Success
• Know your (young, liberal) demographic
• Follow the (urban) money
• Think of the children
• Import
MLS and Formula 1: A Blueprint
Source: sportworldmap.com, 2014
Proposal: Sponsorships
• Acura, one of our clients, is owned by Honda
• Honda is getting involved in Formula 1 racing
• Lower barrier of entry
Proposal: Sponsorships
• jetBlue: another client of Mullen
• Provides international travel
Proposal: Sponsorships
• Red Bull sponsors two top 10 F1 drivers
• Broad digital/social media presence
Proposal: Sponsorships
• Under Armour invests in technology
• Niche markets
Proposal: Sponsorships
• American “Craft beer” of AB-InBev
• Access to major urban markets
• Largest growing bev. segment
among young, affluent pros
Proposal: Sponsorships
• NBC is bringing Formula 1 to a larger audience
• NBC heavily promoted the Monaco Grand Prix
• John Miller, NBC Sports Group President: F1 is a “perfect fit”
Advertising Tactics: Social Media
• Formula 1’s Facebook page: nearly 370,000 Likes
• Red Bull’s Facebook page: nearly 45 million Likes
• Red Bull Racing’s Facebook page: nearly 4 million Likes
• Cross-share links of different pages
• Boosts Formula 1’s number of Likes
Social Media Continued
• Instagram: 15 second videos and pictures
• @F1’s Twitter: 924,000 followers
• Snapchat: joined the advertising game
• Formula 1 mobile applications
Advertising Tactics:
Magazine/Digital
dadfsd
Magazines Continued: Popular
Science
Readership Demographics
Advertising Tactics: Out-of-Home
Signage in urban areas of interest
• Digital Billboards,
public transit hubs
• High visibility &
impact in drawing
new consumers
Advertising Tactics: Promotional Events
NBC Sports Group Sponsored Documentary
• Spiritual sequel to NBC’s 2014 F1 film, “1”
• Explore the sport’s great American drivers
• Follow Gene
Haas’s pursuit of
American F1 team
Advertising Tactics: Promotional Events
Sponsored “Formula Chicago” city race
• Red Bull, Goose Island,
jetBlue, Under Armour, etc.
• Watch parties in MLS
cities, sponsored by
Red Bull
Implications
Formula E Racing
Corporate Social Responsibility
• 150 MPH
• Two zero Emission tanks
• 25-30 Minute Battery Life
•Speed up electric car
development
Baby Formula 1
Junior Formula Racing
• Camps
• Junior Leagues
• Clubs for Kids
• Ages 5-17
• Girls and Boys
2014 Racing
Implications
1. Corporate Social Responsibility
2. Stealth Marketing via young crowd
Bibliography
• (n.d.). Retrieved September 14, 2014, from http://www.f1outdoors.com/f1-outdoors-kart-racing-for-kids.asp
• (2014, September 14). Retrieved January 1, 2014, from http://www.mirror.co.uk/news/world-news/formula-
1-cars-given-electric-41888
13
• 2014 Popular Science Media Kit. (2014, January 1). Retrieved September 12, 2014.
• "About." mullencom RSS. N.p., n.d. Web. 10 Sept. 2014. <http://www.mullen.com/about/>.
• "HLG Nascar Licensing and license negotiations." HLG Nascar Licensing and license negotiations. N.p., n.d.
Web. 15 Sept. 2014. <http://www.hlglicensing.com/nascar.htm>.
• "Hill Holliday." Can F1 Finally Break in to the United States?. N.p., n.d. Web. 12 Sept. 2014.
<http://www.hhcc.com/thinking/can-f1-finally-break-in-to-the-united-states>.
• "Honda Returns to F1 Racing as Engine Supplier to McLaren." Bloomberg.com. Bloomberg, n.d. Web. 15
Sept. 2014. <http://www.bloomberg.com/news/2013-05-16/honda-returns-to-f1-racing-as-engine-supplier-to-
mclaren.html>.
Thank You
Questions?