Can Bank of America initiate, renew or terminate different sponsorship opportunities. Which of the different sponsorships will have the biggest ability to help the bank’s business segments accomplish there business objectives, and which ones could damage them.
Bank of America was operating in 29 states, District of Colombia and 43 foreign countries, serving individual customers, small to middle market businesses and large corporations. They provided a diversified range of financial assistances, such as banking, investing and asset management.
All this through three business segments: Global Consumer and Small Business Banking, Global wealth and Global ...view middle of the document...
His largest responsibility lied with the application of more difficult and explicit business criteria, beyond his employment to the traditional marketing/promotional considerations and making sponsorships decisions.
We are a Bank. If we sponsor, we expect banking relationships. We are concerned about getting banking business instead of just generating brand awareness and brand association, or generating more retail traffic. Sponsorships for Bank of America is ultimately a banking business decision- a decision to help our line of business.
With a broad reach as 1800 racing events and more than 110 tracks in 36 states it is ranked number one corporate involvement and per-event attendance, and number two in television viewership.
Given Bank of America’s long involvement with NASCAR, they could continue to expand their association with the sport and benefit and build excitement for fans across the country. But is this an appropriate and effective platform for targeting multiple customer segments.
U.S Olympic Committee
The banks involvement with the Olympic team gores back to 1921. But in 1992 another bank, Bank America became the Official Bank Sponsor of the U.S Olympic team.
What Bank of America now faced was whether the USOC and the Olympic Games remained a good strategic fit with the bank? Should the bank renew its sponsorship beyond its 2008 commitment? Would global reach associate well with the banks philosophy and selection criteria?