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Today is a world of fragmented
markets. There may be no
dominant group of buyers or producers, but there are
many producers chasing many buyers. Every producer/company is trying
to maximize its share in the total market segment to optimize
its profit. They are adopting various marketing strategies to achieve
this goal. Companies are trying various combinations of their
4Ps Product, Price, Place (distribution) and Promotion also known
as marketing mix. Promotion mix has always been one of the
most important factors while drafting marketing strategies. One of
the most important elements in the promotion mix is
advertising. Advertising helps companies to convey their offerings to
present and potential customers.
Celebrity endorsement is today being used as a tool to fight
the battle of mind-share and market-share. It is one of the
advertising techniques being used heavily by the marketers. Companies
are spending huge amounts to get their products endorsed by famous
public figures, also known as celebrities. Signing popular film
personalities and sportspersons for product endorsements by top brands
has been in vogue for quite some time now.
According to McCracken, a celebrity endorser is:
"any individual who enjoys public recognition and who uses
this recognition on behalf of a consumer good by appearing with it in
an advertisement (marketing communications
(marcoms)). When celebrities feature in marcoms, they bring their
own culturally-related meanings, thereto, irrespective of the
required promotional role." |
