According to a study by two economics pro- fessors at the University of Californ

Question

According to a study by two economics pro- fessors at the University of California, Davis,6 another example of an athlete who lost significant “brand value” is Tiger Woods, who destroyed an estimated $12 billion in stock market value of the firms sponsoring him—Accenture, Gillette, Nike, PepsiCo (Gatorade), and Electronic Arts (EA). As a manager, what lessons about celebrity endorse- ments can you draw from the examples of Phelps and Woods? What are some general take-aways that a strategist should keep in mind?

Explanation / Answer

while selecting a celebrity as brand ambassadors, one should consider the 360 degrees area of the celebrity. ofcourse professionally they will be the leaders and they are the winners in their respective areas. but we also consider what they are personally, about their family, friends and community also. because every action of them is keenly observes by the media, and if they make any small mistake by knowingly or unknowingly, it is going to be effect on the other things or other areas.

here when it comes to Tiger woods, he will be richest sports person and he is the top player in golf for the years being, but personally he cheated his family, his wife and his childrens are not interested even to look at him. there will not be any people who accepts and likes these kind of people as their representatives.

even in the case of Phelps aslo, he is the number one player in the area of swimming, he won many gold medals in Olympics. but he unknowingly encourtages smoking of manjuana- which causes to health problems to the people. so, these actions shown negative impact on the firms which were appointed these two celebrities as their brand ambassadors.

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