Endorsement Contracts Between Sports Stars and Product Manufacturers
INTRODUCTION-
The relationship between sports celebrities and product manufacturers in terms of endorsements has undergone a heavy transformation in the last one and a half decade. In recent times, the endorsement by sports celebrities has emerged as one of the most successful marketing communication tools that can help, both, the athlete and the agent who earn a large amount of income. The statistic given below shows the income (salaries and endorsements) of the highest-paid soccer players in the world in 2016. In most cases, the amount earned by athletes through such endorsement deals is twice the amount earned on the field.
As most of the income (can be seen from the statistical …show more content…
For many athletes, public image is an essential parameter to bring company forward for the contract. Athletes with excellent sports skills are generally very famous and well-liked by the audience and can generate remarkable endorsement power. Selection of Gender and age for particular product have received the significant impact on the viewer. However, there is a mixed view in literature about the impact of Gender and age on the viewer. Some studies carried out by Boyd and Shank have found that male celebrities are more effective endorsers whereas others have found females to be more effective. According to Ding et al., there is no effect of gender on the viewer. In the same way, there is a mixed opinion about age in the literature. But according to Hsu et al., younger endorsers are effective in a specific advertising area focused toward market targeting youngers. Statistical survey shown below gives the idea about the age wise classification of person who have selected product via celebrity endorsement.
In most cases, the age of the athletes is within 18-35. The retired athletes are also endorsed by number of companies but in the present paper, study has been done only for the athletes with age below 35. It is always better to select proper athlete who meets the requirement of the product and who can attract the specific as well as general public towards the product.
Athletes success can double the visibility and strength of the product. Therefore, company has to look after the training, fitness, behavior in the game, character style, discipline and motivating the athlete. These all things are always under the examination of the
INTRODUCTION-
The relationship between sports celebrities and product manufacturers in terms of endorsements has undergone a heavy transformation in the last one and a half decade. In recent times, the endorsement by sports celebrities has emerged as one of the most successful marketing communication tools that can help, both, the athlete and the agent who earn a large amount of income. The statistic given below shows the income (salaries and endorsements) of the highest-paid soccer players in the world in 2016. In most cases, the amount earned by athletes through such endorsement deals is twice the amount earned on the field.
As most of the income (can be seen from the statistical …show more content…
For many athletes, public image is an essential parameter to bring company forward for the contract. Athletes with excellent sports skills are generally very famous and well-liked by the audience and can generate remarkable endorsement power. Selection of Gender and age for particular product have received the significant impact on the viewer. However, there is a mixed view in literature about the impact of Gender and age on the viewer. Some studies carried out by Boyd and Shank have found that male celebrities are more effective endorsers whereas others have found females to be more effective. According to Ding et al., there is no effect of gender on the viewer. In the same way, there is a mixed opinion about age in the literature. But according to Hsu et al., younger endorsers are effective in a specific advertising area focused toward market targeting youngers. Statistical survey shown below gives the idea about the age wise classification of person who have selected product via celebrity endorsement.
In most cases, the age of the athletes is within 18-35. The retired athletes are also endorsed by number of companies but in the present paper, study has been done only for the athletes with age below 35. It is always better to select proper athlete who meets the requirement of the product and who can attract the specific as well as general public towards the product.
Athletes success can double the visibility and strength of the product. Therefore, company has to look after the training, fitness, behavior in the game, character style, discipline and motivating the athlete. These all things are always under the examination of the