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by Andrew Hill, Financial Times
Celebrity endorsement is the most irritating form of brand-boosting marketers have yet conceived – and that’s saying something. George Clooney flirting over a Nespresso coffee machine; Andy Murray fumbling for his Rado watch in what should have been his moment of US Open glory; Brad Pitt intoning “Chanel No 5: inevitable” in the new “groundbreaking” scent campaign: the product of such tie-ups is almost always cloying or annoying or both.
To finish reading the article, you must register on Financial Times. The full article can be found at: http://www.ft.com/cms/s/0/1c06724a-1910-11e2-af4e-00144feabdc0.html
Research published in the Journal of Advertising Research on ‘The Economic Value of Celebrity Endorsements’ was referenced in this Financial Times article. In the JAR paper, the authors Anita Elberse (Harvard Business School) and Jeroen Verleun (Barclays Capital) reported that endorsements by professional athletes generated an average 4% increase in turnover and a 0.25% increase in stock market returns. Read the JAR paper here.
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