StudentShare solutions
Triangle menu

Marketing - Essay Example

Not dowloaded yet

Extract of sample
Marketing

For this reason, brands must select celebrity endorsements very carefully because the expense needed for celebrity endorsement is large yet there are many risks involved simply due to the fact that a brand cannot control a celebrity's actions in either their professional or personal lives. For brands that are looking to be successful, the easiest way to do this is by associating the brand with a celebrity that already has success. The hope is that consumers will associate the success of the celebrity with the brand they are supporting. The reality is that this is very often not the case, yet it is human nature to link one success with another. The trick that marketers have is trying to convince the target market that the celebrity really does support the brand and stands for the values of the brand. Celebrity often have their own fan bases, usually in the entertainment and sporting industries, so a key reason why marketers want to use celebrities to endorse a product is to have access to these loyal groups of fans. Some high-profile companies are willing to spend millions of dollars in order to attract celebrities that are well-known. One such example occurred in January of 2013 when Nike signed world number one golfer Rory McIlroy to be its major celebrity icon. Although the terms of the deal were never released, many insiders to the deal estimate that McIlroy will make $100 million over the next five years or up to $250 million over 10 years (Crouse 2013). While this may seem like crazy money, Nike is betting on the fact that McIlroy will remain a force in the golfing world for some time yet. Because of his relatively young age, 23, he has the potential to dominate the golfing world over the next decade. When McIlroy steps up for the winning putt at some of golf's major events, Nike wants the world to see McIlroy with his Nike cap on, the Nike swoosh on his shirt, and the Nike golf club that he is using. However, if a celebrity does something that brings shame to a brand, then it may have a long-term effect on the brand. Just recently, the well-known Paralympian Oscar Pistorius shot dead his girlfriend in his South African home. Although the details of his actions are still to be determined in a court of law, some of Pistorius' main sponsors were quick to distance themselves from the controversy (Davis 2013). One popular new ad was a Nike ad in which Pistorius starred in. The tagline of the ad was that Pistorius was "the bullet in the chamber" (Davis 2013). The ad was quickly pulled by Nike when it realized how ironic this advertisement was considering the circumstances. Celebrity endorsements will continue to be lucrative for brands that are looking to increase their reach to consumers, but there are also some downsides involved if that celebrity falls from the public eye. If celebrities are used to help market products and services, then a brand needs to be very selective and only select celebrities that stand for the values of the brand. Bibliography Crouse, Karen. "McIlroy's Well-Remunerated Risk." NYTimes.com. Jan. 14, 2013. http://www.nytimes.com/2013/01/15/sports/golf/rory-mcilroy-announces-deal- with-nike-golf.html?_r=0 (accessed Feb. 20, 2013). Davis, Rebecca. "Oscar Pistorius dropped by sponsors." The Guardian. Feb. 20, 2013. ...Show more

Summary

Word Count: 643 words How celebrity endorsement will help to do marketing of products and services? It is well-known in the advertising industry that having a celebrity endorsement of a product is likely to increase its sales. Even though it may cost to bring a celebrity onboard, firms only do so because they believe that they can more than make their money back…
Author : jed88
Marketing essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Marketing"
with a personal 20% discount.
Grab the best paper

Related Essays

Marketing
A marketing concept embraces the philosophy that good marketing strategy always has the needs and wants of the target market in mind. Marketing concepts are formed as creative approaches to the problem of how to get a product needed and desired by a group of consumers to be selected and purchased by this group.
2 pages (500 words) Essay
Marketing
The Marketing Teacher (2000) cited Barwell to expound on the term by indicating that “the marketing concept is a philosophy, not a system of marketing or an organizational structure. It is founded on the belief that profitable sales and satisfactory returns on investment can only be achieved by identifying, anticipating and satisfying customer needs and desires” (Marketing Teacher, par.
2 pages (500 words) Essay
Marketing
Hence marketing becomes one of the most crucial aspects of a business. Kotler et al (2007:7) has defined market as ‘a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others’.
1 pages (250 words) Essay
Marketing
The guerilla marketing campaign of the T-Mobile company was run for five consecutive months by sponsoring near to 25 events in the local festivals, state, and county fairs. T-Mobile has very well comprehended the importance of such marketing initiatives for the company’s success by activating 5,000 new accounts at such events and organizing more than 26,000 “Mobile Makeovers” (Chipps 1).
1 pages (250 words) Essay
Marketing
This is because the objectives of the issues involved can have resemblance. Whether large or small, most marketers if not all, always struggle to meet customer requirements and at the same time meeting their own commercial and marketing objectives. The marketing planning process needs the harmonization of open- based decisions at the peak of the commercial level with more closely distinct actions at the bottom.
4 pages (1000 words) Essay
Marketing
Nevertheless, due to competition, every industry market being totally customer-oriented, the marketing of products differs from marketing of services. Again, marketing financial services
6 pages (1500 words) Essay
Marketing
This will be followed by the example of M&S and will deal with various aspects of the company, like the macro and micro factors that impact the company and the target markets of the company
11 pages (2750 words) Essay
Marketing
It is in this reason that the proponent of this paper tries to gather information about the basic concept of marketing and the probable impacts of internet on the dominant logic of marketing. Considering that the traditional-based marketing has
11 pages (2750 words) Essay
Marketing
Vodafone is one of those companies which have been effectively utilizing the major types of direct marketing channels. Vodafone’s promotional strategies include advertising
1 pages (250 words) Essay
Marketing
It is a broad term that encompasses human activities relating to the market. Thus, it could be said to be a social process through which
4 pages (1000 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation