Swot Analysis – Irl
SWOT Analysis
Strengths:
1. Family friendly
2. Cost friendly
These specific strengths help the IRL meet its customers needs by making their events more cost and family friendly. At a time when our economy is struggling; it not only helps the IRL boost business and recognition, but it also brings new attractions to the consumers. This allows the IRL the ability to differentiate its strengths from its biggest competitor NASCAR.
Weaknesses:
1. Smaller television audiences
2. Sponsorships
Unfortunately the IRL is still in the shadow of NASCAR. However, with the new marketing tactics the IRL league is putting into place these smaller television audiences will grow and the sponsorships will follow with time. The IRL has already come along way over the past years.
Opportunities:
1. Targeting new consumers
2. Adding more locations
The IRL made a great move when following in the footsteps of NASCAR and including celebrity endorsements. This is a new way for the IRL to target new consumers and bring attention to the league. Another great opportunity that the IRL is taking advantage of it adding more locations for the races, again this helps to target additional consumers and allows them to show their diversity from that of NASCAR.
Threats:
1. NASCAR
2. Losing drivers
The IRL faces two big threats, their biggest competitor NASCAR