Final Post: Reflection

Hello everyone! As the semester is coming to an end, this will be my final post. This semester has brought me a wealth of knowledge about marketing and I have tried to use that knowledge to help you understand the marketing within NASCAR. I also have used everything that I have learned in my marketing class to put on an event. I tried to focus on the main points that I believe are most important to marketing.

In my first blog post, I discussed the diversification analysis of NASCAR. This took into account looking at current and new products with current and new markets. My second post looked at the voices of NASCAR and how they use opinion leaders. My third post was about market segmentation and looked to the many different aspects of NASCAR fans. Finally, in my last post, I wrote about the new product process and how NASCAR must keep on using new products to stay up to date with technology and what the fans want to experience. All of these helped to convey marketing concepts and terminology.

Marketing can be seen everyday almost everywhere you look. There is not much that is seen that is not a form of marketing. When you look at objects, there will most likely be a brand name on it. Everywhere you go will have some sort of marketing to keep you going there or keep you buying the products.

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In order for marketing to exist, there must be someone there who is willing and able to buy the product or service. The customers have great power over what products succeed and what products fail. However, customers do not always know if they want a product or even need a product. This is where the marketing comes in which the company tries to give the information needed in order for the customers to know how to use and give a reason why they should buy their product or service. The marketing process starts and ends with customers.

There are many roles of marketers. When marketers advertise, they are trying to gather information in order to get it out to their target markets, those who they believe will buy the product most. Before sending out an advertisement, research needs to be done in order to have people put into groups of similar nature in order to effectively advertise. Once the advertisement goes out, information is collected based on how effective the advertisement is. This can be based off of sales revenue, reactions, and how many people it reached. This impacts the market research and finances of a company.

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Companies have moral and ethical standards when it comes to advertising. Sometimes there are issues that companies have within an advertising campaign or just as a company in general. This past week, Starbucks was in the news because they were racially profiling two black men and had them arrested because they did not buy anything, but there were other people in the restaurant that also did not buy anything, but nothing was done. This led to some bad news and people wanting to boycott Starbucks. After this, Starbucks found it to be their responsibility and this is leading to them closing 8,000 stores one day for bias training. This is Starbucks trying to show they have a responsibility to their customers that they are fair and ethical. https://www.nytimes.com/2018/04/17/business/starbucks-arrests-racial-bias.html

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Lastly, I would like to write about my experience in advertising for this class. A group of friends and I had to make a commercial for an event that we ran. Our event was a Guitar Hero Tournament to benefit the Make-A-Wish Foundation of Vermont. For our commercial, I never realized how much work went into them. First, we needed to come up with a storyline for the commercial, had to prepare, film, and edit. We also made some posters in order to spread the word about our event. Word of mouth was the best method of advertising for us as people spread the word and the event grew to what we expected. We believe that our event was a success as we only spent $3 and made over $200 to benefit Make-A-Wish.

I would like to thank you for following me on this journey. As my marketing knowledge grew, it came through in the blog posts. I hope I was beneficial in your learning about marketing and the marketing within NASCAR. It was great to write about two things that I am passionate about. Below you will see a picture of my favorite driver, Denny Hamlin, in victory lane at New Hampshire Motor Speedway (I attended this race). Once again, thank you for reading!

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