Celebrity Endorsement: Diminishing Returns. How to build an iconic brand?
In the ‘90s, Sachin Tendulkar, then considered as the “God of cricket,’ revealed to the awe struck kids that ‘Boost is the secret of my energy.’ Kids believed him and took the claim seriously and cajoled their parents into buying the health drink as one of the essential grocery. Such is the power of the celebrity endorsement. It makes a lasting impression on the admiring fans, young or old, and strongly motivates them to emulate their favourite idols. In 1760s, Josiah Wedgwood, the founder of the Wedgwood brand of pottery and chinaware, used royal endorsements to create an aura around the name of his company’s products that gave the brand a value far beyond the actual attributes of the product itself. In India, the credit for the first celebrity brand endorsement goes to the popular yesteryear’s film actress Ms. Leela Chitnis. In 1941, she endorsed Lux- the soap brand. This opened up a new avenue for the celebrities to endorse brands and earn substantial income, which has now s