Endorsements are a manifestation of promoting that uses well known identities or big names who summon a high level of recognition, trust, and appreciation or mindfulness among the people. Such individuals promote for an item loaning their names or pictures to advertise an item or organization. Sponsors and customers trust such support, or underwriting by a celebrity, will impact purchasers positively. There are many risks in using celebrity endorsements but group research for Nike has proven that the rewards outweigh the risks. This type of advertising connects more with the people that the company is selling to. Ordinary people won’t have much of an impact on a product. Celebrities are famous and people admire them. These ads will work well for aspiration of a brand. Therefore the more famous the endorser, the more expensive the product will be.
Nike has many celebrity endorsements. The American sports brand is the biggest in the world with a total worth of ...view middle of the document...
5. Derek Jeter. Jeter has signed a 100 million 10 years endorsement deal with Nike back in 2008.
6. LeBron James. Signed a 7 year 93 million deal with Nike in 2004 and now got an extension worth 10 million a year for the next 10 years.
7. Roger Federer. Federer has an endorsement deal of 100 million. 10 million for 10 years with Nike.
8. Maria Sharapova. 8.5 million Endorsement deal over 10 years with Nike.
9. Kevin Durant. Signed a 7 year contract worth 60 million endorsement deal with Nike.
10. Kobe Bryant. Signed a 5 year deal worth 40 million with Nike.
11. Cristiano Ronaldo. The highest paid football player in the world racks in 8 million a year for the next 10 years with his endorsement deal with Nike.
Like numerous different organizations, Nike utilizes supports and subsidizing to help authorize their business. This helps in keeping Nike in the public eye. By finishing so they can keep on striving and develop their brand, an imperative part to promoting. At the point when Nike supports top level players it aides make preference in the market which in turn helps ensure the proceeding triumph and gainfulness of the organization. With their purpose as role models, athletes establish their importance in our society. Most athletes are so “righteous”; they are looked upon more than anyone else to play these types of roles. Many children look up to their favorite athlete and try to be like them for example Nikes slogan for the air Jordan’s was “be like mike”. As is in many circumstances, athletes take advantage of their position. Many visit public schools, children's hospitals, hold sports clinics, and start to donate their wealth to many charities. Nike today is one of the world’s largest brands with its 49.36 billion market cap which makes it #24 on the Forbes list of the world’s most valuable brands. Its celebrity endorsements to top professional athletes have played a huge part in its success in the market. In a business you have to spend money to make more money. That is particularly accurate in sports, where there's dependably a premium on the most popular gear and the next upcoming breakout star. In any case sooner or later, a sound regimen transforms into an unsafe offer to support and increase performance.