World is moving out of Brand Ambassadors?? What is your say…
Today the number of companies, yes I refer to MNC’s, endorsed by BIG BUDGET Brand Ambassadors are going all time low. Atleast that is what i have learned during my short time at LG Electronics.
The possible reason for this could be, people relate more to the endorsee than the endorsed product. Where on one side this can be a potential danger for the company hiring the endorsee. It can be that extra mile for the next company which hires it.
Let’s discuss this in detail -
Suppose LG hires Mr. Branson for endorsing it’s products. Yes, Mr. Richard Branson. and the sales graph starts the takes off. Now when contract ends Mr. Branson thinks it to be a good investment in electronics firms and thus is born Virgin Electronics… SO What!!
The contract is over and Mr. Branson can do what ever he likes but …. Research indicates that with the endorser the customer base or the target Market also shifts it’s paradigm and creates a potential threat to the earlier company.
This is also true when the endorsee instead of starting a new enterprise, joins a competitor of the earlier firm
So is it worth spending millions on something that can be a potential threat in the future
What is your say ??
I would like to have a feed back ….
