People admire celebrities and if those celebrities say that they like a product then the admirer will like that particular product, too. The concept of celebrity endorsement is simple and widely used as a part of promotional and marketing strategy throughout the world. In India celebrity endorsements are the backbone of the endorsement industry.
It is tough to analyse the impact of celebrity endorsements on the sales of a particular product but it is apparent that when a prominent public figure endorses a product the psychological effect will drive the audience to buy the product and will add to the profits of the trader as well as the celebrity. One of the global corporate finance companies found that “the total value of the top 15 celebrity brands in India is worth over US$691 million”.
Associate
LexOrbis
Although it is evident that celebrity endorsements are big-money transactions, with recent developments in the industry and with the proposal to replace the Consumer Protection Act, 1986, with the Consumer Protection Bill, 2015, celebrities will no longer enjoy a free lunch in the endorsement industry.
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