Bank of America Case Study

Problem Statement

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.

Background

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 Corporate and Investment Banking.

The headquarters of Bank of America is located in Charlotte, North Carolina. One of the banks business strategies is to serve as a leading financial partner and advisor across all major sports. Owners, leagues and franchises can turn to them with all banking needs. The bank spent more on sponsoring sports then any other bank in the US based bank. Sports such as major and minor baseball, the PGA-tour, NASCAR and NFL.

Bank of America 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 commitment to serving its customers and communities.

Official Bank of Baseball

Since 1880 Baseball was generally considered a part of America’s heritage and also a part of Bank of America’s culture that sponsored their employee baseball teams. And in 2004 the bank became the first company ever to be designated the Official Bank of Baseball.

Sports Sponsorship Philosophy and Selection Criteria

In 2006 Ray Bednar joined the Bank of America as senior VP and global sponsorships executive, he was there to oversee the strategy and activation deployment for the company’s expansive sport sponsorships portfolio.

His largest responsibility lied with the...