Impact of Celebrity Endorsement on Consumers Dissertation

Impact of Celebrity Endorsement on Consumers - Dissertation Example The advent of globalization and liberalization in the world markets has brought increased competition at the local level as well. Now, there are products and services that are available anywhere in the world and the customers are given a wide array of choice to choose from. There are a variety of products, substitutes, prices and overall value packages that are now made available to the customer due to the rapid development of information and communication technologies as well as logistics management. The changes in the technological and the global business environment have brought additional pressures on the organization to remain viable and competitive in the market. Organizations now have to invest in new product development strategies, look out for ways of reducing costs and expanding distribution channels and reaching out to the largest number of customers using their limited budgets. Consumer awareness, consumer acceptance and retention and consumer feedback have become an impo rtant guiding factor for the organizations to develop products and markets (Perrault et al, 2000). Researchers have increasingly found that the customers are greatly influenced by the fact that they can easily attain more information about the product or service, that they are able to recall the product or the brand and that their friends or family are already using the product. This means that the more the brand awareness, the greater the chance that the products will be bought by the customers and also recommended to others by them.