Celebrity Endorsement a Literature Review
The article discusses the significance of marketing communication of products and services through celebrity endorsement campaigns. In the current business environment, marketing communication is significant and requires that businesses design strategies that offer a competitive advantage for their products and services. This entails marketing mix elements, such as product design, branding, packaging, designing, pricing, and place among others. Most organizations use celebrities in their communication strategies to boost their brands. This process involves huge investments in terms of money alongside endorser qualities, such as attractiveness, likeability, and trustworthiness aimed at generating desirable campaigns.
The following factors need to be considered in selecting celebrity endorsers for the campaign to be successful:
- Attractiveness and credibility of the celebrity
- Product and celebrity match
- The message and product match with the celebrity
- The degree of celebrity involvement
- Number of endorsements by the celebrity
- The general meaning
Other factors that are considered in using celebrities in brand marketing are the economic visibility of the endorsers, regulation factors, compatibility, and marketing strategies.This article asserts that celebrity endorsement is an effective competition strategy in a highly competitive market. Nevertheless, the findings also stipulate that this strategy can only be achieved by choosing the right celebrity for the campaign.
A Consumer Perspective on Foreign Market Entry: Building Brands through Brand Alliances
The article discusses about organizations that seek to penetrate into other nations’ markets that encounter huge expenditures in establishing brand awareness and image. The financial investments that are required by an organization to enter into a new market can be a barrier to the entry. Establishing a brand in another nation calls for total commitment and determination, particularly for small organizations. The common costs in this venture include brand awareness expenditures, transportation and distribution costs, and communication campaign in establishing a brand image.
These factors have made several organizations to seek for different strategies of introducing branded products to cut down the expenditures and maintain high returns. Therefore, for small organizations entering into foreign markets, building brand alliances is significant in lending important reputational asset.
The research and findings of this article indicate that co-branding can take place under strategic alliance between organizations. Nevertheless, for organizations to fully benefit from the alliance strategy, such a deep relationship is not mandatory. In the analysis of the brand alliance concept with regard to the entry of unknown brand into a different nation’s market, the article has found out that brands can improve their evaluations through an alliance with well-known established brands in the market.
Why You Aren’t Buying Venezuelan Chocolate
Chocolate El Rey is an organization that processes one of the best cacao beans globally. The organization also commands a high premium for its cacao, which is a similar ingredient used by chocolate powerhouses in Switzerland and Belgium. El Rey has also come up with its own chocolate brand that sells globally. However, this brand is restricted to its home market in Venezuela. Moreover, many people are not willing to pay the same price as compared to other chocolate brands like Godiva or Lindit because the product is from Venezuela.
Consumers have been conditioned to believe that quality and excellent chocolate is made in Europe. This provenance paradox has made different products across the world to be authenticated with the country of origin. Many consumers have associated particular products with certain geographies and that is why some product names are associated with nations, for instance, French wine and Swiss watches. Competing products from developing nations, as it is in this case with Venezuelan chocolate, are considered inferior even when they are excellent products making them not to command a fair price.
Brand building and market positioning as in the case with products from Japan, for instance, auto organizations’ products that command the global market, can reverse this situation. Using social media, organizations can overcome this provenance paradox through consumer reviews and creating a level field of all brands.