Beyond the Checkered Flag: Unravelling the Mechanisms of Corporate Sports Sponsorship in Formula One Racing

Abstract

Formula One Racing is a globally influential sport with a widespread presence. Numerous major international companies utilise Formula One Racing as a means to establish and reinforce their brand equity on a global scale through Corporate sports sponsorship. However, the effectiveness and mechanisms of Corporate sports sponsorship remain relatively unexplored in academic literature. This study addresses this gap by investigating the impact of leveraging strategies on Corporate sports sponsorship effectiveness in Formula One Racing, focusing on emotional arousal, attitudes, and visual attention mechanisms through the utilisation of neuroscientific methods such as eye-tracking and measuring of GSR. Priming emerges as a pivotal factor, enhancing stimuli processing, memory retrieval, and brand awareness. It also deepens consumer attitudes towards sponsored brands. Attitudinal intensity also proved to be the highest indicator of brand recognition, however, emotional arousal and visual attention show no significant relationship with brand recognition. The insights offer practical guidance for Corporate sports sponsors and teams, aiding in the development of effective sponsorship activations and campaigns. Additionally, the study contributes to understanding Corporate sports sponsorship effectiveness and consumer behaviour in Formula One Racing, presenting a framework for optimising sponsorships. Future research could explore these findings' generalisability with lesser-known brands in Formula One Racing and investigate priming's impact on brands with low initial attitudinal intensity, further enriching the understanding of consumer behaviour in Corporate sports sponsorship.