Celebrity Endorsement of Advertisements Boosts Sales and Product Image Research Paper

Celebrity Endorsement of Advertisements Boosts Sales and Product Image - Research Paper Example This claim has been widely accepted in the marketplace, making almost 15% of the advertisement in the US to incorporate this strategy with an estimated $50 billion being spent globally on endorsements and corporate sponsorships (Crutchfield 23). Michael Jordan Endorsement of Nike’s Advertisement Nike is said to have spent over $475 million out of its $1.7 billion annual advertisement budget for the endorsement of athletes for its products (Elberse and Verleun 23). In this paper, focus shifts to how the endorsement of Michael Jordan affected the company’s sales and the company as a whole. Michael Jordan has been in the headlines as one of the most successful athletes according to Kellner, remaining relevant in the media even after his retirement in 1999. His achievements include leading the Chicago Bulls of America to NBA championships in six out the eight seasons when he played for the team which made him be associated with winning and deification of own prowess. Simmer s, Damron-Martinez and Haytko refer a celebrity to that person known for â€Å"well-knowingness.† A celebrity endorser in addition has been defined as that person enjoying public recognition which would be used by such a person, on behalf of consumer products by appearing in advertisements with it (Gunter, Oates and Blades 19).