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Speaking exclusively to Marketing, Marzena Bogdanowicz said the support of the marketing industry would be crucial to a successful bid process.

The government will decide whether to lend its backing to a bid by the end of the month.

Bogdanowicz said staging the Games would provide British brands with a global showcase. The structure for commercial partnerships for a London bid was still being decided, she said, and a campaign would be developed to get companies on board.

"We've had interest from a number of companies, and are looking for partners to provide both financial support and value-in-kind," she said. "Although the host city would be London, the whole country would get involved."

The British Olympic team's partners, Rover and Adidas, are believed to be among the brands interested in supporting the bid process.

Paris and New York are among the cities expected to bid for the 2012 Games.