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Livesheer, a youth-focused clothing brand, signs a contract with the organizers of a music festival. Under the contract, the organizers of the music festival promise to display the brand's banners across the venue. Also, as part of its promotional strategy, Livesheer distributes some of its goodies for free among the crowd. This scenario exemplifies _____.
A. sponsorshipB. cross-sellingC. lobbyingD. vertical integration

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NeuroTravel

Answer:

The correct answer is a) Sponsorship.

Explanation:

When it comes to sponsorship between two companies, it refers to the agreement they make so that one of the companies helps the others to promote its brand or product, benefiting from an economic incentive or the same product.

For example, in the case of the Livesheer company, they help sponsor the music festival with the agreement that the organizers promote their clothing brand at the festival through advertisements, as well as let them deliver a sample of their product to potential customers. This strategy is achieved through the sponsorship that Livesheer will give to the event organizers.

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