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ABSTRACT
International products can achieve mass adoption in some countries, while languishing outside the mainstream in other countries. Theoretically, global organizations can manage market entry and divergent demand by practicing a niche portfolio strategy that requires marketers to appropriately prioritize and cultivate key resources in underdeveloped niches while maintaining dominant status in traditional markets. The authors use the international context of Formula One Racing to examine how market resources influence demand for the sport in 19 different geographically defined niches across four continents. Hierarchical regression analysis demonstrates positive incremental demand effects for participant, spectator, and sponsor-based resources, while media-based resources were nonsignificant.
Notes
For example, the lowest priced admission for a family of four to attend the 2013 British Grand Prix at Silverstone (3-day general admission) is $802 (€376).
Advertising rate data were not available for networks in Bahrain in 2007 or 2010, Australia in 2010, or Japan in 2010. The final data set thus, includes 72 observations (19 countries over 4 years minus these four data points).
Listed domestic companies are the domestically incorporated companies listed on the country's stock exchanges at the end of the year.
The year 2007 is used as the base year and was thus excluded from the regression analysis.
While not reported in , the results of a Durbin-Watson test (1.85) indicate autocorrelation is not an issue with the data. Additionally, multicollinearity does not appear to be an issue as the Variance Inflation Factor (VIF) for each independent variable is below 4, well below the recommended cutoff of 10 (O’Brien, Citation2007).