At its core, economics is all about how people make choices. Choices are necessary because we live in a world of scarcity. Even the richest among us have to decide how to allocate our resources. When it comes to racing there are several ways that the economy can have an effect on it. The economic downturn that began in the late 2000s and persisted through the early 2010s has revealed how much NASCAR relies on a healthy, growing economy.
When Jack Roush decides to have one less race team on the track, he does so not because he doesn’t like the team that is racing, but because fielding a race team is expensive. Mr. Roush has a lot of money, but he is limited to the number of teams he can put on the track. Race fans make choices too. We
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Those without a job will cut back on things they see to be unessential. Here is where NASCAR begins to feel the pinch. No matter how much you want to see a race, if you have a lack of funds, you cut the trip to Daytona out of the budget. That much we understand, but there are other forces at work that may impact the bottom line of NASCAR more than just those who are directly out of work.
As the unemployment rate rises, even those who have jobs begin to get a little nervous. Seeing their neighbors and co-workers losing their jobs makes the employed start to wonder, “Am I next?” Therefore, they are likely to cut back on extra spending as well. So, next year’s trip to Daytona gets cut from their budget, just in case. Ticket sales start to fall not only because the unemployment rate is rising, but also because people are feeling less secure in their finances.
As the unemployment rate was falling in the early 2000s, attendance was on the rise, but as the unemployment rate began to climb starting in 2008, attendance started to fall, and in 2010 we seen a drop below the 4 million-attendance mark for the first time since 2003. As people either lose their jobs, or fear losing their jobs, they don’t just cut back on trips to the track. They start to cut back on spending in other areas such as areas where the team sponsors feel it in their pocketbooks. Less spending by consumers means less income for the corporate sponsor, which means less spending by those sponsors on
NASCAR community is made up of sports personalities. The community values sports and champions sporting activities with the aim of fostering peace and unity (Batchelor 226). They have always achieved significant gains with the sporting initiatives concerning the transformation of the way of life of the southern people including other parts of the nation. Likewise, NASCAR is a sporting community that coordinates multiple auto-racing sporting events. The community started its activities in 1948, and the brain behind its formation is known as Bill France. It was formed to spearhead motorsports stock-car racing that is highly prominent. The community’s objective was to foster cultural practices, provide a
To David Barton, the biggest race he has won would be The GatorNationals. This was a significant moment to david because it was a start of a new era. In his words, “ To some people winning indie is the biggest thing, but it doesn't compare to the GatorNationals in Florida, because it was the beginning of a new era of muscle cars.” This accomplishment was achieved from experience at Ray Barton Racing engines. In other words, by working in his dad's business. Racing has always been what David does. It’s what he grew up around. David has done this job full time since 16 or 17. This job was also his father's, Ray Barton.
“Racing is about discipline and intelligence, not about who has the heavier foot. The one who drives smart will always win in the end.”
The more a sport becomes commercialized, the higher the cost of participating for the athlete. One example would be that there are entry fees established to help raise monies that will be awarded to the winner and the sponsoring company.
He started from the bottom and now he is on top with the big dogs, Nascar is not just about left turns, there is a lot more than just that in the sport. It is about how much banking and routs to take on certain tracks, it is about the history of the sport. Drivers have to know when to pit and change tires, get more fuel and tell the pit crew to adjust the wedge. Nascar requires years and years of training, You also have to have sponsors to get a race car. In this paper you will find out what nascar is really about.
Is nascar a dangerous sport? Nascar is dangerous but not as dangerous as you think. Many people think nascar is one of the most dangerous sports. Nascar has changed dramatically over the past few years. Nascar has many different rule to make sure people stay safe. Nascar drivers have to do certain things just to get behind the wheel for the first time. When nascar was first introduced in 1948, they didn't have very many rules at all. I'm going to explain how nascar has changed from 1948 to 2017.
Carroll Shelby,the inventor of mustang once said, Racing has reached the point where it is pricing the young driver, no matter his talent, out of the game.
The Anti-saloon league museum is a standing testament of a period long gone. Located within the Westerville Ohio library, it houses important artifacts and memorabilia from the Prohibition era. At the height of its popularity, the league was a national organization which boasted branches across the United States.4. Along with various Christian organizations, the league was able to marshal resources that enabled it to bring the prohibition fight to congress and the senate. Tours and group presentations expose curious visitors to the inner workings of the league. Video footage taken from the height of the organizations power allows onlookers to explore the conditions that led to the ban on alcohol being enforced to such a magnitude.
“I think fear is what keeps us from going over the edge. I mean, as a race car driver, I don't think what makes a good race car driver is a fearless person. I think it's somebody that is comfortable being behind the wheel of something that's somewhat out of control.” -Jeff Gordon (brainyquote). Jeff Gordon has grown up around racing whether it was BMX, quarter-midget, or sprint car, he was always racing.
NASCAR should create a new racing series while creating a linkage of suppliers, vendors, buyer, and customers through informational, technological, social and structural linkages (Ferrell & Hartline, 2014). Intensive distribution should be utilized to offer as many sales opportunities as possible and gain exposure (Ferrell & Hartline, 2014). The new series should generate interest in new and existing fans while simultaneously converting other sports fans to watch and attend NASCAR events through the use of social media, advertisements, sponsorships, and endorsements.
The National Football League (NFL) and NASCAR thrive on sponsors and vice versa. An NFL game is by far the most watched single game event in the country and gaining popularity exponentially worldwide. Their championship, the Super Bowl, is arguably the most watched television program in that particular year. In NASCAR, the Daytona 500 is their “Super Bowl” and is a very large event in its own right. Corporations all over the world jump on these mega advertising vehicles with the hope that their name is popularized which will result in profitability. In many cases, most of those who do buy airtime during NFL games, the Super Bowl, and during the major NASCAR races are very visible names and products that we already know
NASCAR has done a good job with its branding because according to Trendafilova fifty percent of the income comes from sponsorships (Trendafilova, 2014). NASCAR could have adapted to the unleaded gasoline a lot sooner, but this is not the reason for their economic downturn. The truth is that all sports had an economic downturn even coveted college football. The NCAA had to adapt to an un-eventful end of its season by implementing a college football playoff system which increases television rating for the last part of the season. This is important because NASCAR did this well before the NCAA by creating a new playoff system with two wild cards. The trouble is not with NASCAR branding. The trouble lies with the overall economy paired with the
Often those who aren’t at the front lines don’t understand the issues being faced. The corporation must first understand the safety concerns the drivers face, and validate those concerns as legitimate. That would go a very long way to helping the drivers feel better about the corporation. Next, the corporation should scale back its qualifying all-cars against the clock decision. While exciting for the fans, the same action can be felt with fewer cars. The corporation should also find a way to work with the drivers so they know they are more than just assets to the company; they are actual people and are risking their lives for the corporation’s profit. I think once the relationship is mended between the corporation and the drivers, many of the other issues will fix themselves.
Additionally, the split was highly unsuccessful because the Motorsport that was once in high standing started to diminish and lacked appeal. Furthermore, the IRL needed to move away from its traditional approach to the sport and gain new ground and further promote the sport as entertaining, adventurous, and entice it as a sport for younger audiences as well. Tanier (2016) believes, the split was unsuccessful due to confused sponsors and partners, television networks, editors of sports pages, and fans began to gravitate to a more organized and growing in popularity, NASCAR. Furthermore, relevant and important sponsorships dried up and driver recognition descended. Meanwhile, CART began to buckle. All the while, major contributors such as Honda and Toyota bailed on CART. Moreover, they further had issues with sponsorship and major partnerships left. Many of these partnerships were vital to the sport in how they furnished vital parts such as the engines and technical support to the teams (Ferrell & Hartline, 2014). Even more enthralling, the IRL struggled to find corporate partners as a feeble economy and a broken market for open-wheel racing made both the IRL and CART less attractive to sponsors. Likewise, the sponsors no longer desired to be a part of an event that was failing and people hardly showed an interest in the actual sport. On top of that, the sponsors as well as the individuals that previously watched the sport focus shifted to a more organized
challenges, however, are the most difficult ones to face and overcome. Some environmental issues that