Magazine article Marketing

Teams Should Be the Driving Force in F1 Sponsorship

Magazine article Marketing

Teams Should Be the Driving Force in F1 Sponsorship

Article excerpt

Recent seasons have seen Formula 1 attracting new categories of sponsors which bring teams the opportunity to become marketing-led not marketing-laden. Now is the time for F1 teams to wrest back the equity which has flowed over the years to their title sponsors (tobacco), engine providers, some drivers and even the F1 Association itself.

The new sponsors come from the global growth sectors - international services and high technology brands like Andersen Consulting, HSBC, HP, MasterCard, Henderson Investors and Computer Associates. And the brand-hungry Far Eastern tigers (Malaysian government, Korean Air) are using F1 as a stage for their global economic ambitions. Others, like hip energy drink Hype, are intent on building a fast-moving global brand in the quickest lap-time (Williams).

These organisations bring fresh perspectives with their focus on relationship marketing, innovative brand building, alliances, integrated communications and new media. The more teams can drive their acquisition strategy to cluster like-minded sponsors with synergistic brand values, and use their values to resolve visual, national and commercial mis-matches, the more they can develop their own future-proof identities.

Andersen Consulting are business partners as well as sponsors of the Williams team. Last year we helped Williams move their factory and are now working with them on a five-year business strategy. HSBC, currently accelerating the 're-corporatisation' of their banking brands is one of the main sponsors to brand new team Stewart Grand Prix. …

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