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Automobile Races and the Marketing of Places: A Geographic and Marketing Exploration of IndyCar Racing in the United States

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ABSTRACT

IndyCar events attract thousands of spectators and over one million television viewers. Additionally, IndyCar is the most elite form of motorsport that races on oval speedways, natural terrain road courses, and temporary street circuits. This research utilizes case studies of IndyCar events contested on each of these three venue types (Iowa Corn Indy 250 – oval speedway; Indy 200 at Mid-Ohio – road course; Grand Prix of St.Petersburg – street circuit). Previous research in figurational sociology, place marketing, and mega-events provide a framework used to identify key similarities and differences among the perceived and observed benefits and costs of an IndyCar race on their host cities and regions.in...

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Potential Negative Outcomes From Sponsorship For a Sport Property

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Sponsorship funding has become a staple source of revenues for many sport events, but there are two types of potentially negative outcomes for properties that may be associated with it: operational risk and reputational risk. Operational risk occurs when sponsors insist on changing the rules or format of the event, or when they exercise undue influence on its content, timing, location or participants. The primary source of reputational risk is increased public sensitivity to the negative health impacts of some product categories, most prominently those of tobacco, alcohol, gambling and products that are high in fat, salt or sugar that may make it contentious for a sport property to partner with companies in these product classes. Similar controversy from public sensitivity may emerge around issues of corporate social responsibility, as expectations grow

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Risk Management in Sports Sponsorship

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Abstract

Sports sponsorship, a new form of corporate marketing, has become a major source of funding for sports teams and events.

As an entrepreneurial activity, sports sponsorship entails a degree of risk for the company which, like all enterprise risks, must be managed and controlled using effective, efficient programmes that analyse and assess the potential impact on the company’s finances and reputation, thereby allowing the sponsor to take steps to avoid or mitigate such risks.

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Identifying Two-Sided Markets

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A two-sided market can create value by simplifying and accelerating transactions, as well as lower their cost for the parties it connects. As a two-sided network grows, successful platforms are able to scale. Users, seeing a larger potential marketplace, will then pay a higher price to access the platform. Two-sided marketplaces have an advantage over traditional one-sided markets (often found in service or manufacturing-oriented businesses), which at some point experience diminishing returns on market growth (customer acquisition).

A two-sided market is often defined by the relationship the intermediary has with the external groups or agents on its platform. This relationship is seen in pricing in particular. Those that oversee platforms must maintain equilibrium between both sides of the network, sometimes subsiding the more price-sensitive side a...

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Consuming Research on Brand Recognition on Mobile Phones Purchase in Beijing

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Abstract

Brand management has become increasingly important, given the rapid changes in the global market and the elevation of competition. A sound brand image creates clear product differentiation, consumer preference and loyalty. In the beginning, the entire market of Chinese mobile telephone was occupied by the foreign companies. This phase has continued over ten years until the beginning of 1999, when some homebred brands entered the mobile phone market in succession. After five years, the homebred brands formed a certain scale. At present there are several hundred brands of mobile phones in China, including foreign brands such as Nokia, Motorola, Samsung and Chinese brands such as Amoi, Bird, TCL. However, most of Chinese use cell phones of Nokia, Motorola and Samsung due to their good brands. This dissertation aims to study brand and brand recognition in order to identify its importance to...

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The Broad Scope of Franchise Laws: Traps for the Distribution Contract Drafter

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The number of states enacting laws restricting a franchisor’s sale or termination of franchises has increased over the years. An understanding of the existing laws is important for every supplier and distributor of goods and services, because such statutes have been held to apply to far more than the traditional fast food hamburger operation. In some states, for example, if a supplier of a branded product merely requires a distributor to maintain a 90-day inventory and participate in a promotional program, a “franchise” under the applicable statutory definition may exist, with disclosure and registration requirements imposed on the supplier and extensive rights granted by law to the distributor. The supplier’s failure to comply can lead to serious penalties.

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Differences Between Politically Connected and Nonconnected Firms: A Cross-Country Analysis

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Despite the fact that corruption has a negative aggregate economic effect on a country’s investment and growth,agrowing body of literature has pointed out that political connections may be beneficial to specific firms. Academic studies reporting evidence on how connections provide sources of value have identified only a few differences between connected and nonconnected firms, such as preferential access to credit

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Why a Federal Right of Publicity Statute Is Necessary

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Introduction

The time has come for a federal right of publicity statute. Because of technological advances, expressive works and advertisements are increasingly disseminated on a national, if not international, scale. Right of publicity law, however, remains entirely a creature of state law. Different states have widely divergent right of publicity laws. This divergence results in a multistate patchwork that forces national content producers to engage in self-censorship and tailor their content to the laws of states that provide the least amount of protection to free speech rights. The outsized role of Indiana’s right of publicity law provides a good example. In recent years, numerous lawsuits have been brought against non-Indiana defendants for violations of Indiana right of publicity law by celebrities and heirs of deceased celebrities who have had little or no connection to Indiana. The reason is simple. Indiana’s right of publicity statute...

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Fictional Characters and the Right of Publicity: Policies, History, and Conflict

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I. Introduction to the Right of Publicity

Much discussion has centered on the parameters of the right of publicity as it relates to actors and the fictional character which they portray. The Ninth Circuit has provided the most expansive definition of the right of publicity; however, many critics believe the court’s decisions were ill-conceived and only added to the confusion surrounding the right of publicity. This paper addresses the right of publicity and its origin. It then discusses the Federal Copyright Act and the confusion it causes regarding the right of publicity. The next portion goes on to discuss different ways in which the right of publicity could be preempted by the Federal Copyright Act. Part IV addresses possible First Amendment issues which the publicity right could face, and the likelihood of a publicity right claim surviving a First Amendment defense...

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Artist Publicity Agreements

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10. This Agreement shall not be construed to create a partnership or joint venture between Artist and Publicist.

It is an Agreement between independent contractors. Artist desires to benefit from that which the Publicist can do. Artist desires to compensate Publicist. Artist does not desire to obligate himself to pay Publicist large amounts of dollars per hour, day, week, month, year, or any other period. Artist does desire a relationship to exist between the compensation to Publicist and Artist's ability to pay. Artist understands the difficulties in finding a 100% accurate manner in measuring the value of Publicist's services. Occasionally in the business an Artist pays to a person performing the services Publicist shall perform on behalf of Artist, a percentage of the income of the Artist. Both parties understand that Artist may have the benefit of receiving work from Publicist which...

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The Murder In Merger: Mergers And Acquisitions As Violent Events Of Organisational Transition

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Abstract

Drawing on my work as an organisational development practitioner, my PhD research and an international research project this paper considers participant and media generated ‘texts’ of mergers and acquisitions (M&As). Using an interpretative textual analysis based on a psychoanalytic framework the paper explores re-presentations of M;As and the impact this has on our understanding of this area of organisational activity. Four M;A cases (Nestles/Pfizer’s Baby Food, AOL/Time Warner, Body Shop/L’Oreal and London Film Makers Co-op/London Electronic Arts) are used as illustrative studies.

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FIA Concorde Agreement Business Model in F1

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The Concorde Agreement is a contract between the business division of FIA – also called “Formula One Administration” (FOA) and all the F1 teams, which dictates the terms by which the teams compete in races and in return obtain their share from media broadcasting royalties, on-track advertising, and fees from the racetrack owners. The most recent version of the contract was signed in 2013.

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A Letter Of Intent Is Enforceable. A Letter Of Intent Is Not Enforceable.

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Is a Letter of Intent enforceable?

Unfortunately, there is no simple answer to whether a Letter of Intent (“LOI”) will be enforceable. It could be: (A) yes; (B) no, not at all; (C) some parts yes, and some parts no; (D) no, but it will be treated as if it were; and (E) no, but it may affect the parties’ later agreement. While most courts understand the non-binding concept of an LOI and its role in a commercial transaction, there are exceptions where a court will treat the terms of the LOI as the “real deal.”

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Best Practices on Contract Design in Public Private Partnerships

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1. Best Practices on Risk Allocation

One of the most important issues in designing a Public-Private Partnership (PPP) contract for infrastructure projects is the allocation of the project’s risks between the public and private parties. As we have discussed in the companion paper, the risk allocation is a means to give appropriate incentives for the private partner to perform according to the contract terms, thus achieving value for money.

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