Why F1 needs a marketing department

Why F1 needs a marketing department

Formula 1 has never had to worry about marketing itself before, as teams, sponsors and venues did the job. DIETER RENCKEN reckons change is now desperately required

Imagine being CEO of a multi-billion-dollar purveyor of products - automobiles, burgers, widgets, whatever - active in 200 territories, yet the company has absolutely no need for a coordinated marketing department. That's because its suppliers (and their suppliers and partners) underwrite high-profile campaigns across the globe.

So the company accounts contain but four basic line items - sales (income); cost of sales (disbursements); operating costs and personnel - while enjoying the complementary services of third-party marketing campaigns. It's a commercial dream that must surely facilitate annual gross profits of 30 per cent or more.

To continue reading this feature...

You must have an AUTOSPORT+ subscription. Prices start from just $1.50 per week and give you full unrestriced access to all news and features. View package options? Magazine subscriber?

AUTOSPORT+

from just $1.50 per week

  • Get unlimited access to AUTOSPORT with news and views from the paddock
  • Enjoy AUTOSPORT+: subscriber-only analysis, comment and top-quality pictures
  • Explore every F1 stat in the world’s best motorsport database

Pay as you go

Read this feature right now for just

39c