Social media has had a negative effect on sponsorships of the olympics due to the fact that brands can advertise their product via facebook or twitter for free rather than paying millions of dollars to promote it on the olympics. A big question now a days is, are sponsorships even worth it now that unofficial brands can piggyback the successions of the olympic events.
An example of the halo effect in the Olympics is when people will buy Nike brand shoes because their favorite athlete wore them in an event. this is also an example of brand equity.
Nike has made a very smart slogan; MakeitCount where they are able to advertise without bieng an actual Olympic sponsorship.
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