Wednesday, November 20, 2019
The Trouble with Celebrity Endorsers Article Example | Topics and Well Written Essays - 2000 words
The Trouble with Celebrity Endorsers - Article Example Another point raised is brand equity. Brand equity is something that the company builds over time in order to differentiate itself from the other competitors in the market. The article suggests that instead of leveraging on celebrityÃ¢â¬â¢s image, the brand should be able to develop its own equity through leaving out costly promotion into adding more product features, etc. Having learned in marketing that promotion is a key to creating customer awareness, I believe that companies should invest in promotion especially in the first months or years of a brand in order to introduce it to consumers. However, in the latter life, the real value should be delivered to customers. This article opens my eyes to the challenges faced by marketing strategist. Promotion is far more complicated than having celebrity wears the product or recommends the brand. There should be an alignment in the image of the celebrity as well as the celebrity being used for promotion. The article highlights how Nokia is faring through the economic downturn in industrialized economies especially the United States. The past months have witnessed how the world economic leader in the past is undergoing the recession. As a consumer, I have read and seen how investment firms collapse, laborers laid-off, and even the more profitable retailersÃ¢â¬â¢ close down. Looking at in a marketing viewpoint, this change in the business environment challenges businesses to reinvent themselves and their various strategies in order to survive. NokiaÃ¢â¬â¢s response to the situation is to cut cost in order to maintain profitability. However, the low demand brought about by the bleak economic outlook and lower purchasing power of customers remains the key consideration. Thus, companies should focus on strategies other than minimizing operations and marketing costs.