Oh no, Senator John Kerry is looking to prohibit financial institutions receiving TARP funds from using sponsorship and says it's an "idiotic abuse of taxpayer money." What a shame.
Through sponsorship activities (which is just one way in which corporations keep in contact with their target audiences), companies learn to understand their customers' passion points. They learn how to build closer relationships with customers and how to add value to their experiences.
Sponsorship is much more than a one-time event, it's an investment in the community, life style and passion whether it be art, sports, music, food, film or philanthropic focused.
Sen. Kerry doesn't seem to understand that sponsorship goes beyond throwing money at a celeb to pose for an ad, it' a vital strand in the marketing mix which allows companies to keep in contact with customers through collaborative partnerships. Nothing but win-win.
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