Formula 1 finally landed a new racing venue in the United States after roughly five years of effort from its owner Liberty Media.
Formula 1 will race the next decade in the Miami market after securing a venue and landing financial backers. And with the move, parent company Liberty Media’s U.S. strategy is taking shape.
Click here to read the story at cnbc.com.
- What is a global product?
- What is Formula 1?
- Is Formula 1 a global product? Why or why not?
- Why is a presence in the U.S. important to Formula 1’s growth strategy?
- What is competition for the entertainment dollar?
- How might this story offer an example of competition for the entertainment dollar?
- What is a SWOT analysis?
- How might Formula 1 conduct a SWOT analysis as it pursues new fans in the United States?
- How might a star American driver improve the product from the perspective of a U.S. fan?
- What is leadership?
- Why do you think leadership is important for leagues who want to grow internationally?