Sunday, February 8, 2009
How Much Ka-Ching in Celebrity Endorsements?
BusinessWeek reports that celebrity endorsers like Alicia Keys and Elton John (both endorse Yamaha pianos) are being asked to do more to earn their money. Makes the marketer's money go further, but it's also a good move from the perspective of reinforcing the connection between the celebrity and the brand through multiple exposures. And what celebrity wouldn't want more exposure? Still, in the current economic environment, I wonder how many buyers are lining up for the Elton John Limited Edition Signature Series Red Pianos by Yamaha, which are priced in the high 5 figures?