Celebrity endorsements are common across lifestyle products even basic things as groceries are being endorsed by celebrities, but when it comes to investing does endorsement of a mutual fund scheme or a broking service or an insurance product by a celebrity (specifically from sports, music or cinema) change the investors /buyers behavior towards such product. Does celebrity endorsements have relevance when it comes to personal financial planning.
The endorsement of any product or service by a celebrity has been a verified and veritable marketing and advocacy strategy over time since it has been proven to drive positive impact towards the patronage of such good or service. A celebrity endorsement influences patronage of goods and services positively. Creative use of celebrity endorsement drive traffic towards patronizing financial product.
Thanks to all who answered and to those who recommended this question. Can you suggest how to go about conducting a research in the above topic through both primary and secondary data.
For me, it can have a negative response in that I will not buy certain items because I don't respect the celebrity or do not feel they are genuine in their endorsement.
You could show a study sample, pictures of various items with no endorsement and with endorsement and ask them for their opinion rating the product and the celebrity. Add to the fun by adding fake celebrity endorsement with highly undesirable products (e.g. cream for piles, dog poo bags etc.) Good Luck, MJB
Adding to all the previous answers, it may also depend on the brand image and personality of the celebrity. Some of them have trust engraved with their image, like Big B, Dhoni etc. If these kind of celebrities can sell real estate projects which is also considered as an investment. Then why not other forms of investment.
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