Analysis of the Marketing Strategy of the Formula One Group in the United States - Taking the Miami Grand Prix as an Example

Abstract

The research is conducted with the success of the first Miami Grand Prix in 2022. As a grand prix that has never been held in the region, the Miami Grand Prix achieved a great increase in terms of the number of fans attending during the grand prix and fans watching the race online compared to the Austin Grand Prix last year. The research focused on analyzing the marketing strategy of Formula One Group in the United States taking the Miami Grand Prix as an example and utilized the literature review method and case analysis method to conclude an ultimate successful marketing model that may apply to other places in the world. The marketing model consists of stream media propaganda and sports partnerships two pre-race marketing campaigns, value-added events during the race weekend and the native driver which would bring consistent exposure of Formula One to the country throughout the season and attract more potential fans to come to the race weekend.