Celebrity Endorsement Are a Waste of Money
Contents
1. Introduction 2. What is a new product
3. Why new product
4. The process for new product introduction
5. Pros and Cons associated with new products
6. Reasons why new products and services fail
7. Conditions when frequent new products are necessary
Celebrity endorsers are a waste of money. Before delving into the topic lets look at the two examples which portrait the two sides of the coins of the topic: Nike, a global brand, getting sports celebrity Michael Jordan to endorse its products. So successful was the collaboration that Nike and Jordan launched a new brand variant called the Air Jordan line of sport shoes. Nike pulled off a very similar coup in the sports industry when it joined forces with the ace golfer Tiger Woods to enter the golf category with its apparel, equipment and accessories. Nike chose to associate with the best golfer in the world and have him endorse the brand. As is known today, Nike has emerged highly successful in golf. Let’s look at the other side of the coin. During the 1992 summer Olympics, Reebok spent $25 million on an ad campaign featuring the two track and field stars. Dan vs. Dave commercials ran almost non-stop, asking which would be the world's best athlete and saying that the debate would be settled in Barcelona. The fact that Dan failed did not win a single medal in '92 when he failed to score in the pole vault and Dave only captured bronze on a broken foot made the spots downright laughable.
INTRODUCTION
Businesses have long sought to distract and attract the attention of potential customers that live in a world of ever-increasing commercial bombardment. Everyday consumers are exposed to thousands of voices and images in magazines, newspapers, and on billboards, websites, radio and television. Every brand attempts to steal at least a fraction of an unsuspecting person's time to inform him or her of the amazing and different attributes
1. Introduction 2. What is a new product
3. Why new product
4. The process for new product introduction
5. Pros and Cons associated with new products
6. Reasons why new products and services fail
7. Conditions when frequent new products are necessary
Celebrity endorsers are a waste of money. Before delving into the topic lets look at the two examples which portrait the two sides of the coins of the topic: Nike, a global brand, getting sports celebrity Michael Jordan to endorse its products. So successful was the collaboration that Nike and Jordan launched a new brand variant called the Air Jordan line of sport shoes. Nike pulled off a very similar coup in the sports industry when it joined forces with the ace golfer Tiger Woods to enter the golf category with its apparel, equipment and accessories. Nike chose to associate with the best golfer in the world and have him endorse the brand. As is known today, Nike has emerged highly successful in golf. Let’s look at the other side of the coin. During the 1992 summer Olympics, Reebok spent $25 million on an ad campaign featuring the two track and field stars. Dan vs. Dave commercials ran almost non-stop, asking which would be the world's best athlete and saying that the debate would be settled in Barcelona. The fact that Dan failed did not win a single medal in '92 when he failed to score in the pole vault and Dave only captured bronze on a broken foot made the spots downright laughable.
INTRODUCTION
Businesses have long sought to distract and attract the attention of potential customers that live in a world of ever-increasing commercial bombardment. Everyday consumers are exposed to thousands of voices and images in magazines, newspapers, and on billboards, websites, radio and television. Every brand attempts to steal at least a fraction of an unsuspecting person's time to inform him or her of the amazing and different attributes