How to grow a successful celebrity-focused brand: Moving beyond conventional branding theory to create brands that connect with consumers.
Fraxedas Alvarez, Julio Alan (2019)
Fraxedas Alvarez, Julio Alan
2019
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2019120324420
https://urn.fi/URN:NBN:fi:amk-2019120324420
Tiivistelmä
The purposes of this thesis are to present and debate about the viability of existing theories on how to grow a brand that it is built around a celebrity’s image. This research seeks to verify, based on the experience of celebrity-focused brands founders and CEOs, if this type of brands offers any possible advantage against brands that are only product or service-focused.
The research has been conducted through primary data collection of the qualitative type. The author has chosen to approach this research with face to face interviews in order to make the most of each question and the answers of each of the respondents. The interviewees are the two founders and owners of two celebrity-focused brands. Both of them count on a long expertise in marketing and advertising from decades of work in the industry prior to founding their company.
Building a celebrity-focused brand can prove to be cost-efficient and more effective when establishing valuable connections with consumers, in comparison to product and service-focused brands. However, it is important to understand and know how utilise in the best possible way all of the marketing advantages that this type of brands can offer, especially the exploitation of the effect that parasocial interactions can have between the celebrity and the consumers. In addition to that, it results fundamental to also have clear alternatives on how to manage the risks that can exist because of dealing with a celebrity.
It is also equally important the use of modern promotion and placement channels, in order to become more competitive against bigger brands in the same industry sector.
The author recommends to those readers considering the idea of building a brand around a celebrity’s image but that do not count on big budgets, to rely on the aforementioned inputs and to not necessarily follow step by step conventional approaches on market research and defining a target audience.
The research has been conducted through primary data collection of the qualitative type. The author has chosen to approach this research with face to face interviews in order to make the most of each question and the answers of each of the respondents. The interviewees are the two founders and owners of two celebrity-focused brands. Both of them count on a long expertise in marketing and advertising from decades of work in the industry prior to founding their company.
Building a celebrity-focused brand can prove to be cost-efficient and more effective when establishing valuable connections with consumers, in comparison to product and service-focused brands. However, it is important to understand and know how utilise in the best possible way all of the marketing advantages that this type of brands can offer, especially the exploitation of the effect that parasocial interactions can have between the celebrity and the consumers. In addition to that, it results fundamental to also have clear alternatives on how to manage the risks that can exist because of dealing with a celebrity.
It is also equally important the use of modern promotion and placement channels, in order to become more competitive against bigger brands in the same industry sector.
The author recommends to those readers considering the idea of building a brand around a celebrity’s image but that do not count on big budgets, to rely on the aforementioned inputs and to not necessarily follow step by step conventional approaches on market research and defining a target audience.