Bank of America Sports Sponsorship Case Solution

1. Marketing Plan

The marketing plan for Bank of America will focus more on Return on Investment (ROI) criterion. Hence, the marketing plan will focus on future activities whose financial impacts can be estimated and directly linked to the sponsorships. Firstly, amongst the available marketing options to the Bank of America, it needs to be decided whether the Bank will sponsor more of international events or be content with local sponsors and sporting events.

The ROI is expected to be greater if the sporting events involve direct exposure with the intended target audience. Therefore, the audience at NASCAR is likely to become future individual and small business customers for Bank of America. Although the title of being the ‘Official Bank of NASCAR’ 2007 onwards is a very costly affair, the NASCAR motor racing can be treated as a flagship event of the Bank of America.

Secondly, the Olympics take place after a gap of four years but have been an important part of the legacy of Bank of America. As compared to NASCAR motor racing, sponsorship of Olympics would be more focused- that is, the athletes can wear shirts and various sports equipment labeled as ‘Bank of America.’ This will be more useful for Summer or Winter Olympics taking place in countries where the bank currently does not have a strong presence.