'Bank of America Case Study Essay\r'

'Problem record\r\nCan swear of the States initiate, transmigrate or terminate disparate sponsorship opportunities. Which of the different sponsorships will study the biggest ability to sustain the desire’s condescension segments fulfil there business objectives, and which is could damage them.\r\n terra firma\r\n argot of the States was operating in 29 states, District of Colombia and 43 unconnected countries, serving individual customers, small to gist market businesses and large corporations. They provided a modify range of financial assistances, such as vernacularing, investing and asset management. All this by means of three business segments: planetary Consumer and downhearted Business positing, Global wealth and Global Corporate and Investment m integrityy boxing. The headquarters of jargon of the States is located in Charlotte, northward Carolina.\r\nOne of the fixs business strategies is to serve as a leading financial retainer and advisor acros s all study romps. Owners, leagues and franchises can turn to them with all banking needs. The bank spent more on sponsoring sports hence any other bank in the US based bank. Sports such as major and minor baseball, the PGA-tour, NASCAR and NFL. Bank of the States actually grew from many smaller banks, as regional banks where acquired the bank got sport relationships along with the smaller banks; which were kept to show their loyalty to serving its customers and communities.\r\nOfficial Bank of baseball game\r\nSince 1880 Baseball was generally learned a business office of America’s heritage and alike a part of Bank of America’s culture that sponsored their employee baseball teams. And in 2004 the bank became the first family eer to be designated the Official Bank of Baseball.\r\nSports donorship philosophical system and Selection Criteria\r\nIn 2006 Ray Bednar join the Bank of America as major(postnominal) VP and spheric sponsorships executive, he was t here to make out the strategy and activation deployment for the company’s expansive sport sponsorships portfolio. His largest responsibility lie with the application of more difficult and straightforward business criteria, beyond his employment to the handed-down marketing/promotional considerations and making sponsorships closings.\r\nBednar explained:\r\nWe argon a Bank. If we sponsor, we expect banking relationships. We ar concerned about getting banking business sooner of just generating stake 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 retrace of business.\r\nNASCAR\r\nWith a broad reach as 1800 racing events and more than 110 tracks in 36 states it is ranked number one corporate fight and per-event attendance, and number twain in television viewership. Given Bank of America’s long involvement with NASCAR, they could continue to exp and their association with the sport and benefit and build excitement for fans across the coun resolve. But is this an appropriate and effective programme for targeting multiple customer segments.\r\nU.S surpassing commissioning\r\nThe banks involvement with the Olympic team gores moxie to 1921. But in 1992 a nonher bank, Bank America became the Official Bank Sponsor of the U.S Olympic team. What Bank of America today faced was whether the USOC and the Olympic Games remained a well(p) strategic fit with the bank? Should the bank renew its sponsorship beyond its 2008 commitment? Would world(a) reach associate well with the banks school of thought and selection criteria?\r\nDallas Cowboys\r\nBank of America had been pertain in the financing of the Dallas Cowboys. Bednar faced the decision of whether or not to renew the sponsorship with the NFL-team, how had to consider on how the return on enthronisation on objectives approaches could be applied.\r\nBank of America PGA tournam ents\r\nTwo of their major sponsorships in golf game were the Bank of America Championship in the Boston area and the Bank of America Colonial in Fort Worth, Texas. They recognise the risk of losing the relationships with club members, entirely not as enough to justify the continue investment. How could the implement this exit strategy and serene maintain existing banking relationships\r\nRecommendations\r\nThe name of the company clearly states who the costumers should be. My recommendations would be to focus on the sponsorships within the America. NASCAR, NFL and Baseball are expectant opportunities to create relationships with their costumers. They might even try to become the Official bank of NFL one day. With that said I cypher the bank should try and sponsor less of the global sporting events such as the Olympic committee. The PGA tour, while it is played in the US it is televised in the whole world and since they are not reaching towards that market, I think less sponsor ship should be put in this event as well. As for the boodle marathon they should sell the event but stay as sponsor.\r\nQuestion\r\nIf Bank of America would like to go global, would they have to change their name to something less flag-waving(prenominal)?\r\n'