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NASCAR Kinetics: Marketing in Motion Case 2
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2. Introduction In 1990, M&M’S took the role of becoming a sponsor of NASCAR. Later on, the “Official Chocolate of NASCAR”, M&M’S would become the favorite of all fans. M&M’S in 1999 would final have Red and Yellow riding along with known drivers such as Ken Schrader, Elliot Sadler, and current driver, Kyle Busch.
3. Relationship They both provide forms of entertainment. NASCAR provides in the form of sports. M&M’S provides in the form of pleasure. They both have recognizable mascots. NASCAR: Digger and his family M&M’S: Red, Yellow, and family.
4. Relationship NASCAR fans always have their favorite driver or teams. M&M’S has campaigned to fans to “Vote for your Favorite M&M’S Character” contest. Fans got to choose their favorite color character.
5. Retail Promotion An incentive program for retailers is a key ingredient when looking for shelf space in their stores. Creating a promotional push for store associates to partake in to receive rewards on products within the stores, especially M&M’S and NASCAR products. EXAMPLE: Kansas Speedway has two Wal-Mart's less than 20 minutes away. Create a competition between each of the stores to push out the most M&M’S race weekend. End result: The store with the largest sale of M&M’S product, all associates receive a gift on behalf of M&M’S and NASCAR.
6. In-Store Promotion To continue “The Most Colorful Fan Contest” done by NASCAR and M&M’S, the contest winners will be placed on a cardboard cut out as the face of next year’s retail promotion. The cut out will be used as a display on the ends of aisles and at checkouts in major retail stores, holding M&M’S product for consumers.
7. Promotion Strategy The display would be similar to the image below. The cut out would sponsor both NASCAR and M&M’S and the most colorful fan of that year. Slogans would be placed on the cut out enticing next year’s contestants to out do the winner of this year. “Are you this COLORFUL?” “How COLORFUL can you be?”
8. Sell-In Strategy When in retail stores, price is a huge factor in purchasing a product, even if it is as small as candy. When placing M&M’S on the shelves, place a suggested price next to a discounted price, to show consumers the possible bargain they are receiving. Consumers are more inclined to buy when they feel they are receiving a bargain on a product.
9. Sell-In Strategy In combination with M&M’S products, consumers have the ability to receive promotional items when buying a bag of M&M’S. The promotional items should have a higher perceived value than the M&M’S, such as apparel or replicated race cars from NASCAR series. These do not have to be given out with each purchase. EXAMPLE: Coca-Cola Rewards and using codes placed on bottles and cans. M&M’S codes can be placed on the inside of wrappers and they can be redeemed online.
10. Multi Channel Media Retailers could hold advertisements of M&M’S at checkout computer screens in order to entice impulse buyers to spend that little extra for a sweet tasting treat. This channel is the most important channel. It uses all five of the human senses (taste, touch, see, hear, and smell). It is the only channel which accepts cash payments instantly. It gives consumers immediate gratification.
11. Conclusion A sponsor, like M&M’S, is full of creativity and likeness to NASCAR, that allows for unbound market growth. Each new color that is added to the M&M’S family allows for a new “Official Chocolate of NASCAR” to be seen on store shelves.