Brand Preference Dissertation

Brand Preference Dissertation-37
Marketwatch reports that a simple announcement from a brand signing a celebrity or athlete can cause stock prices to rise slightly and increase sales by 4% on average.After Chanel signed Nicole Kidman in 2003, it was reported that global sales of the promoted Chanel’s perfume increased by 30%.

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While celebrity endorsements certainly help to attract consumers, its direct influence on the consumers’ purchasing decisions are inconclusive.

In the book , researchers found that 85% of people surveyed said that celebrity endorsements enhanced their confidence in and preference for a product, but only 15% said that celebrities had an impact on their purchase decisions.

Social media celebrities, such as Kim Kardashian or Justin Bieber, can be paid $20,000 for a single, 140-character tweet.

However, as these kinds of product placements disguised as normal posts can be regarded as a deceptive form of marketing, there are efforts underway to help identify these sponsored posts as ads.

Consumers feel more sympathetic towards a brand, if their products are promoted by a celebrity they admire or relate to.

It’s a simple psychological effect: Subconsciously people believe that purchasing a product that’s promoted by a celebrity they admire, will allow them to emulate the celebrity’s desired traits or attract similar people into their lives.

The effect is that, if consumers happen to be fans, they place a higher value on products that celebrities are endorsing – it is as if they are receiving advice from a valued friend.

With celebrities vouching for or promoting their products, brands can increase awareness, trust and familiarity, which are important variables in the purchase decision-making process.

And when Nike and Tiger Woods inked an endorsement deal in 2000, Nike’s market share went from 0.9% to 4% in 6 months.

However, after Nike decided to keep Woods despite his highly publicized scandal, the company suffered a loss of

It’s a simple psychological effect: Subconsciously people believe that purchasing a product that’s promoted by a celebrity they admire, will allow them to emulate the celebrity’s desired traits or attract similar people into their lives.

The effect is that, if consumers happen to be fans, they place a higher value on products that celebrities are endorsing – it is as if they are receiving advice from a valued friend.

With celebrities vouching for or promoting their products, brands can increase awareness, trust and familiarity, which are important variables in the purchase decision-making process.

And when Nike and Tiger Woods inked an endorsement deal in 2000, Nike’s market share went from 0.9% to 4% in 6 months.

However, after Nike decided to keep Woods despite his highly publicized scandal, the company suffered a loss of $1.7 million in sales and 105,000 customers.

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It’s a simple psychological effect: Subconsciously people believe that purchasing a product that’s promoted by a celebrity they admire, will allow them to emulate the celebrity’s desired traits or attract similar people into their lives.The effect is that, if consumers happen to be fans, they place a higher value on products that celebrities are endorsing – it is as if they are receiving advice from a valued friend.With celebrities vouching for or promoting their products, brands can increase awareness, trust and familiarity, which are important variables in the purchase decision-making process.And when Nike and Tiger Woods inked an endorsement deal in 2000, Nike’s market share went from 0.9% to 4% in 6 months.However, after Nike decided to keep Woods despite his highly publicized scandal, the company suffered a loss of $1.7 million in sales and 105,000 customers.The Pepsi legacy was later continued by the most famous celebrity we know of, Beyoncé.She was paid millions to promote the carbonated drink, which outraged health advocacy groups.Jennifer Aniston is another celebrity with “star power” as she tops the list of celebrity endorsements.Known for her youthful complexion, she has been endorsing Smart Water since 2010.The ads were rolled out via Instagram, which sure was a canny move since Gomez is the most-followed person on Instagram with a huge, global fan following.The post scored more than one million likes in the first two hours it was posted.

.7 million in sales and 105,000 customers.

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