Formula 1’s expansion in the U.S. is in motion, now it needs a star American driver

Formula 1 finally landed a new racing venue in the United States after roughly five years of effort from its owner Liberty Media.

Formula 1 will race the next decade in the Miami market after securing a venue and landing financial backers. And with the move, parent company Liberty Media’s U.S. strategy is taking shape.

Click here to read the story at cnbc.com.

Discussion Questions:

1. What is a global product?
2. What is Formula 1?
3. Is Formula 1 a global product? Why or why not?
4. Why is a presence in the U.S. important to Formula 1’s growth strategy?
5. What is competition for the entertainment dollar?
6. How might this story offer an example of competition for the entertainment dollar?
7. What is a SWOT analysis?
8. How might Formula 1 conduct a SWOT analysis as it pursues new fans in the United States?
9. How might a star American driver improve the product from the perspective of a U.S. fan?
10. What is leadership?
11. Why do you think leadership is important for leagues who want to grow internationally?