The popularity of the hit medical drama, Grey's Anatomy, has brought about the acting comeback of Patrick Dempsey, aka McDreamy. He is supposedly working with Avon to produce a new fragrance line. Avon? Yep, his wife is Avon's global creative color director. Who knew? Add another $5 million to the Dempsey family savings account.
Implications - Celebrity endorsement is one of the many ways in which brands have captured attention and created loyalty among their customers over the years. Extreme fans are devoted in every way to the celebrity they admire, and are therefore likely to purchase anything the celebrity endorses. Thus, endorsement continues to be a major element of successful branding for today's companies.
Patrick Dempsey Fragrance
Avon's McDreamy
Trend Themes
1. Celebrity Endorsement - Opportunities for brands to capture attention and create loyalty by partnering with popular celebrities to endorse their products or services.
Industry Implications
1. Fragrance - Disruptive innovation opportunities for fragrance companies to collaborate with celebrities and create exclusive fragrance lines.
2. Cosmetics - Potential for disruptive innovation through collaborations between cosmetics brands and celebrities, leveraging their star power to promote new beauty products.
3. Marketing - Opportunities for marketing agencies to create impactful campaigns that leverage celebrity endorsements to build brand loyalty and drive sales.