Volvo Ocean Race: Overview, Marketing, History

46 CASE STUDIES
sponsors the brand name receives frequent mention in media reports.
• No gender bias: Almost uniquely for a major international sporting event
men and women compete on equal terms in the Volvo Ocean Race.
• Multinational teams and crews: the mix of nationalities amongst the crews
sailing the yachts reinforced EF’s business case on the importance of
language skills.
STRATEGY
EF Education created a subsidiary company in Sweden called EF Yacht Racing
AB to run Team EF. The syndicate allocated a budget of USD16.8 million over
the three years of which EF Education contributed USD11 million (the
remainder coming from other sponsors). This equated to approximately
USD5.6 million per annum.
USD11 million was spent on building two boats and EF also spent an additional
USD5.8 million on exploitation of the sponsorship.
EF’s strategy was to differentiate itself from other competitors in several ways.
For the first time in the history of the race, the company entered two teams –
EF Language with an all male crew and EF Education with an all female crew.
The use of two boats offered additional publicity and better economies of scale
in all aspects of the race.
EF commissioned the British design agency, Tomato, to create a striking and
distinctive graphic profile for the yachts. Tomato created a modern and
dramatic design covering the yacht and sails and this design was carried over
into clothing and merchandise.
Even the decision as to where to build the yachts was driven by the desire to
maximise publicity. Göteborg in Sweden was chosen because, as a city with a
long boat building tradition, it had a good natural linkage and, as a major city,
was more accessible to the media.
INTERNAL EXPLOITATION
Internal marketing was geared towards creating the strongest possible sense of
involvement and ownership amongst EF’s employees.
PRESENTATIONS
Presentations were made to EF staff all over the world before and after
the race.