Breaking News: Michael Jordan Has Announced departing from NASCAR and Reason Why…..
Imagine for a second that you’re in charge of marketing at a large company. Ever since you’ve been at the company it’s had a large investment in a sponsorship that’s been fruitful for your brand exposure.
But as you take a closer look at the financials, you see that the dividends the sponsorship once paid may not be there anymore.
The exposure the sponsorship gets has been steadily decreasing for years but your company’s costs aren’t going down accordingly. It’s not the opportunity it once was.
It’s not hard to envision a similar scenario playing out at Target in recent months as the company evaluated its investment in Chip Ganassi’s race teams.
The company announced last season that it would leave IndyCar at the end of 2016 and said Friday that it wouldn’t be renewing its deal as Kyle Larson’s primary sponsor in the No. 42 car.
Larson is a sponsor’s dream. The 25-year-old is potentially NASCAR’s most exciting driver and has three wins in the last 36 races.
He’s second in the points standings and, per Nielsen’s metrics, has generated more exposure for Target than any other company in NASCAR over the past season.
Yet he’s not the reason why Target ended its sponsorship. NASCAR and American auto racing is.
