Tiger Woods helped to break new ground at Nike (NKE-$64.82): successfully communicating that Nike was more “than the shoes” (to paraphrase a 1991 Michael Jordan ad). Golf apparel and related accessory sales rose from some $120 million in fiscal 1996 to approximately $500 million in 2005 (which by then also included “Swoosh” brand expansion to golf balls and other equipment items).
The Tiger Woods scandal, however, reinforces a recognized danger of celebrity endorsements — in a crowded and competitive market (like golf), the sponsor will often leverage the myth of celebrity personality to try and raise product(s) profile above total brand clutter in the market.
Will Tiger’s continued relationship with Nike prove toxic to NikeGolf brands and sales?
Read More at BNET Advertising….
Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.
The Tiger Woods scandal, however, reinforces a recognized danger of celebrity endorsements — in a crowded and competitive market (like golf), the sponsor will often leverage the myth of celebrity personality to try and raise product(s) profile above total brand clutter in the market.
Will Tiger’s continued relationship with Nike prove toxic to NikeGolf brands and sales?
Read More at BNET Advertising….
Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.
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