Repositioning of Formula One - Analysis, Implications, and Recommendations for a Successful Transition

Jakub Valníček

Master's thesis

Abstract:

The aim of this Master Thesis is to analyze the process of repositioning of the Formula One racing series from a motor sport company to a global entertainment brand since its acquisition by Liberty Media, an American mass media company, in 2017. The Thesis presents a comprehensive review of theoretical frameworks along with an analysis of the sport’s history to lay a solid foundation for a qualitative examination of the specific steps Formula One has taken in order to change its perception and reposition itself on the global entertainment market. The SMART Goal Framework complemented by an expert interview are used as the main methods for analysis of the Formula One Corporate Strategy, which outlines the future direction of the sport and thereby its repositioning efforts. The Thesis produces a set of recommendations for each area of the Corporate Strategy in order to improve the repositioning process of Formula One.

Abstract:

The aim of this Master Thesis is to analyze the process of repositioning of the Formula One racing series from a motor sport company to a global entertainment brand since its acquisition by Liberty Media, an American mass media company, in 2017. The Thesis presents a comprehensive review of theoretical frameworks along with an analysis of the sport’s history to lay a solid foundation for a qualitative examination of the specific steps Formula One has taken in order to change its perception and reposition itself on the global entertainment market. The SMART Goal Framework complemented by an expert interview are used as the main methods for analysis of the Formula One Corporate Strategy, which outlines the future direction of the sport and thereby its repositioning efforts. The Thesis produces a set of recommendations for each area of the Corporate Strategy in order to improve the repositioning process of Formula One.

Keywords

SMART Goal Framework, Motorsport, Formula One, Repositioning Strategy, Brand

Keywords

Repositioning Strategy, Brand, SMART Goal Framework, Formula One, Motorsport

Language used: English

Date on which the thesis was submitted / produced: 25. 8. 2021

Thesis defence

• Date of defence: 24. 9. 2021
• Supervisor: Martin Machek
• Reader: David Duroň

Vysoká škola ekonomická v Praze

Master programme:
International Management