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52 in 52: Class 13 – Professor Clarizio (Principles of Marketing)

Posted on April 6, 2017 - Posted in: Blog

In late March, I visited with Professor Clarizio’s Principals of Marketing class.  Guest Speaker John Chuhran of NASCAR (National Association for Stock Car Auto Racing), was already speaking when I got there a few minutes late (sorry!), but I quickly caught up with the presentation. 

Mr. Chuhran, in his official gear, touting Perry Ellis, Ferrari, Maserati and Scandia, among other brands, explained to the group that auto racing was the first sport to kick into commercialization, very soon after NASCAR first formed in 1948. 

He explained that drivers, pits, arenas, and even fans sport brand names.  A shared piece from 1995 now on YouTube from an ABC News program, Day One.  In it, fans who were interviewed explained that their brand loyalty was aligned with the NASCAR drivers they support, and that they even purchase branded gear to support their driver so drivers can continue to keep their cars in top shape.  Essentially, fans sponsor the sponsor, and the sponsor sponsors the driver.  This is a behavior unique to NASCAR, except in the HipHop world.

Another important detail showed that the winner’s circle included (and still does include) sponsor hats that the winning driver must be photographed in.  Brand sponsors pay top $ for that privilege.

John further shared that the 1980’s were the wild west of NASCAR sponsorship, and that the market became less regional and more national over time, while sponsors could also better sponsor regional television because of increased technology.

NASCAR was also the first sport to segment their television sponsorship.  In 1992, for the first time, half of the season went to NBC and the other half to Fox.

In 2008, the great US recession saw a dip in NASCAR attendance, a loss in television viewership, and decreased revenues for sponsors.  Also, about the same time, we began to see a new official campaign, the Drive for Diversity, to reach a more diverse audience.  The jury is out on whether that might be a success.

However, the story Mr. Chuhran told could be applied, as a promotional and marketing strategy, to many industries.  It was a fascinating discussion that many of the students truly enjoyed, as did I!

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