P&G's sponsorship formula: Pampers' 3-to-1 payout on partnership investment
How does Procter & Gamble find the right kind of sponsorship partner?
According to Marc Pritchard, Global Marketing and Brand-Building Officer, there are two considerations, one financially pragmatic and the second more focused on brand DNA.
In a keynote address at the 2012 IEG Annual Sponsorship Conference in Chicago, Pritchard explained, "We look for partnerships in almost everything we do because it's a critical part of our business strategy. We evaluate what we do best, what someone else can do better and how we can join forces to do what neither of us can do on our own. We believe this can be a competitive advantage for P&G."
He continued: "The breadth of our brands gives us access to a wide range of partners that can yield more possibilities for innovation. This is more important than ever because the world is moving at such a fast pace, and we need partners to help us win."