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Complete 11 pages APA formatted article: Consumers' Attitude towards Celebrity Endorsements in Advertising.
Complete 11 pages APA formatted article: Consumers' Attitude towards Celebrity Endorsements in Advertising. The total advertising expenditure in the US for the same year was a whopping $279.6 billion (U.S. Annual Advertising Spending Since 1919, 2008). Also in the UK, the advertising industry provides almost thirteen thousand jobs, which shows how it has helped the British economy (Whyte, n.d.). This is because capitalism has engendered an emphasis on consumerism wherein economies rely mostly on consumption expenditure (Busler, 2002). For instance, consumption expenditure accounted for an estimated 68% of US GDP (Busler, 2002). Consequently, companies have to rely on—aside from product and service quality and other strategies needed to produce what consumers will buy—advertising in order to attract consumers (Busler, 2002).
Hence, based on these facts, it cannot be denied that advertising plays a major role in today’s cutthroat world of business. The competition is so fierce that a supermarket in the US is known to carry an estimated twelve thousand brands in their store—and that is just a supermarket, it does not even include department stores and other industries where brand names are important (Kulkarni and Gaulkar, 2005). Because of this, numerous advertising strategies—where the avenues used are the different types of media: TV, film, print, and radio—have been developed throughout the years to make sure that the billions spent on it are worthwhile. Moreover, because of the proven significance of advertising to various businesses, whether big or small, innumerable studies have been conducted in order to ascertain its effects on consumer behavior and attitudes—as the end goal of advertising is, of course, to sell products and increase revenues for companies. .