Celebrity entrepreneurs can sell their own products better than those stars who simply endorse those of other companies, according to business analysts writing in this month's issue of Inderscience's International Journal of Entrepreneurship and Small Business. Those celebs are not only more heavily involved in their own products and so have a vested interest in sales, but their direct connection to the product makes them more effective in communicating why you, the consumer, should buy it.
Endorsements by the rich and famous have long been a staple of the advertising industry. They can give an otherwise mundane product, such as a shaver or carpet cleaner, a sprinkle of star dust and turn lacklustre sales into lucrative blockbusters. They can even boost sales still further for classic brands that only need a marketing shot in the arm. Market research has shown repeatedly that celebrities can "instantly" add personality and appeal to even unknown products and make or break recognised brands.
However, pop stars, sports personalities, and film actors quick to exploit their fame and image, have themselves begun creating their own brand identity. Think about Kylie's lingerie, Paul Newman's Own food products, and Celine Dion's perfume. These and many other celebrity entrepreneurs can advertise and endorse their product directly, cutting out a third party company from the business deal.
Erik Hunter of Jönköping International Business School in Sweden working with Per Davidsson of the Brisbane Graduate School of Business, Australia, have carried out the first analysis of the marketing of celebrity products and have found that a celebrity's own involvement in the product is truly the key to its success compared with the old-style endorsement marketing.
They add that from the consumer's perspective, the celebrity's involvement in their product essentially rubs off and adds to the value of the product compared with a product being endorsed but not celebrity branded.
There are four main groups who will benefit from Hunter and Davidsson's detailed analysis. First the celebrity entrepreneurs themselves who can find out whether or not being fully involved in a product is a more effective use of their "celebrity capital" rather than simply being paid to endorse an independent brand. Secondly, marketing executives and advertising agencies can discover whether they can get better value for money in selling a product in this way. Thirdly, academic researchers and economists hoping to understand consumer decisions will benefit from the analysis.
Finally, consumers and consumer groups can become better informed as to whether a celebrity truly values their product or whether it is exploitation in the name of fame. After all, do you know whether Kylie wears her own-brand lingerie, or Celine scents up with her perfume? Does Paul Newman really drizzle his Own salad dressing on his salads? Find out and you will be on to a marketing winner.
Jim Corlett | alfa
New measure for the wellbeing of populations could replace Human Development Index
07.11.2018 | International Institute for Applied Systems Analysis (IIASA)
Because not only arguments count
30.10.2018 | Max-Planck-Institut für Mathematik in den Naturwissenschaften (MPIMIS)
Researchers at the University of New Hampshire have captured a difficult-to-view singular event involving "magnetic reconnection"--the process by which sparse particles and energy around Earth collide producing a quick but mighty explosion--in the Earth's magnetotail, the magnetic environment that trails behind the planet.
Magnetic reconnection has remained a bit of a mystery to scientists. They know it exists and have documented the effects that the energy explosions can...
Biochips have been developed at TU Wien (Vienna), on which tissue can be produced and examined. This allows supplying the tissue with different substances in a very controlled way.
Cultivating human cells in the Petri dish is not a big challenge today. Producing artificial tissue, however, permeated by fine blood vessels, is a much more...
Faster and secure data communication: This is the goal of a new joint project involving physicists from the University of Würzburg. The German Federal Ministry of Education and Research funds the project with 14.8 million euro.
In our digital world data security and secure communication are becoming more and more important. Quantum communication is a promising approach to achieve...
On Saturday, 10 November 2018, the research icebreaker Polarstern will leave its homeport of Bremerhaven, bound for Cape Town, South Africa.
When choosing materials to make something, trade-offs need to be made between a host of properties, such as thickness, stiffness and weight. Depending on the application in question, finding just the right balance is the difference between success and failure
Now, a team of Penn Engineers has demonstrated a new material they call "nanocardboard," an ultrathin equivalent of corrugated paper cardboard. A square...
09.11.2018 | Event News
06.11.2018 | Event News
23.10.2018 | Event News
16.11.2018 | Health and Medicine
16.11.2018 | Life Sciences
16.11.2018 | Life Sciences