Thanks to a little show called Drive to Survive, as well as fresh ownership by way of Liberty Media, Formula 1 has never been more popular.
Click here to read the story at vox.com.
- What is Formula 1 (F1)?
- What is a marketing plan?
- What is ‘Drive to Survive’ and how did it help to boost the popularity of F1 in the United States?
- Why is the United States market important to F1?
- Why do you think a marketing plan would be important to help F1 establish a strategy for cultivating a U.S. fanbase?
- How have races like the Miami Grand Prix and Las Vegas Grand Prix helped F1 to grow?
- What else has happened that led to F1’s significant and rapid U.S. growth?
- This news story suggests that not all F1 business strategies are “fan friendly.” What does that mean and why is that important?
- What are demographics?
- Based on what you learned in this story, how would you describe the demographics of the typical U.S. Formula 1 fan?
- According to this story, F1 officials suggested the Las Vegas Grand Prix event would generate more than $1 billion in economic impact. However, that figure may have been over-inflated. How so?
- The headline of this story suggests that F1 grew too fast. How is that possible and what is the fallout from growing too quickly?
- What can F1 do to get back on track? Be prepared to discuss your answers in class.