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Miaoda: The phenomenon of sky-high price endorsements in the pet industry
发布时间 : 2024-01-16
作者 : jumbo
访问数量 : 28
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The wave of celebrity endorsements started in May, and the number of celebrity endorsements has been increasing rapidly, as if the floodgates have been opened. Many well-known celebrities have begun to endorse pet products.

Why does this happen? This is related to changes in the general environment and changes in consumers' consumption habits.

 Miaoda: The phenomenon of sky-high price endorsements in the pet industry

In the past, the pet industry relied on price or reputation for quality, but now with the consumption of the entire pet industry Upgrading, further enriching products, and the consumption habits of the new generation of consumers have changed dramatically, and competition has become increasingly fierce. In such a general environment, the market share of many brands is being squeezed and gradually shrinking, while brands with higher quality and more popular with young people stand out. Inviting celebrity endorsements is one of the innovations and upgrades of brands. Way.

However, inviting celebrities also carries great risks. In addition to the risk of the celebrity's personality collapsing, inviting celebrities to endorse often requires huge costs, including endorsement fees and subsequent marketing and promotion expenses. In addition to the high endorsement fees, after inviting celebrities to endorse, brands often need to invest a large amount of marketing funds for simultaneous publicity and promotion to maximize the effect of celebrity endorsements. If you just officially announce the spokesperson and do nothing else, the "realization" ability of celebrity endorsements will often be unsatisfactory.

 Miaoda: The phenomenon of high-priced endorsements in the pet industry

Therefore, whether it is necessary to invite celebrities to endorse, brands should comprehensively consider the company's own brand genes, brand strength, Brand tonality, etc., we need to carefully measure and make prudent decisions instead of blindly following the trend. As a pet product company, it is the last word to make sure that we make our own products well.

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