I am in marketing and private companies make stupid decisions, too. For example Castrol (owned by BP) is the “Official Motor Oil of the NFL.” If Castrol was the official motor oil of NASCAR or NHRA, it would make sense. But, whose purchasing decision for motor oil is going to be affected by an NFL sponsorship. Obviously some Castrol executives want to be wined and dined at Super Bowl.
Castrol executives -- and their customers!
I was in the advertising business. And I would agree that a NASCAR sponsorship would have value. But so does an NFL sponsorship, for different reasons.
Advertisers aren't incapable of making bad decisions. But, more often than not, there are good reasons for making decisions that some individuals might not fully understand.