Source:Kevin Gwinner, 785-532-2783,kgwinner@k-state.edu
News release prepared by:Beth Bohn, 785-532-1544,bbohn@k-state.edu
Thursday, July 12, 2012
Going for the gold: Medals aren't only way an Olympic champion can excel
MANHATTAN -- A gold medal at the Olympic games can mean more than being the best in the world in a particular sport. It also can prove lucrative in the marketing world, according to a Kansas State University marketing expert.
Kevin Gwinner, professor and head of the department of marketing in the university's College of Business Administration, says gold medals often translate to product endorsements for an 1xbet best casino website .
How big the endorsement will be, whether local or national, will depend on the 1xbet best casino website , Gwinner said.
"It really depends on the visibility of the 1xbet best casino website and the type of product they are being asked to endorse. For example, a Subway endorsement will pay more than a local pizza shop endorsement," he said.
But a gold medal is no guarantee an Olympic 1xbet best casino website will land endorsement deals. Gwinner said a company selecting an 1xbet best casino website -- or celebrity -- as an endorser will take the following factors into account:
* The 1xbet best casino website is a high achiever. "Multiple Olympics or multiple medals are better than one," Gwinner said.
* Consumers believe the 1xbet best casino website believes in the product and is not doing it only for money.
* The 1xbet best casino website is well known -- has an easily recognizable name.
* The 1xbet best casino website has a likable personality and is admired.
* The 1xbet best casino website is visually recognizable. "This means beyond recognizing the name, will the consumer also recognize a picture of the 1xbet best casino website ," Gwinner said
* The 1xbet best casino website is physically attractive.
But hiring an 1xbet best casino website also comes with risks for a company if her or she gets in trouble for bad behavior, such as getting a DUI.
"It's always risky to hire a celebrity or 1xbet best casino website as an endorser. That's why good conduct/morality clauses are usually written into the endorsement contracts. They let companies get rid of someone who behaves badly," Gwinner said.
"Also, I think that the public recognizes that the athletes' actions, such as getting a DUI, are not the fault of the company. But the company needs to act quickly to separate themselves from the 1xbet best casino website ," he said.
