Question: 1 Olympians generally do not turn into global phenomena One

1. Olympians generally do not turn into global phenomena. One reason is that they are highlighted only every four years (e.g., not too many people follow competitive swimming or downhill skiing [think Lindsey Vonn] outside the Olympics). How did Michael Phelps transform his competitive advantage as an athlete into a “global brand”?
2. Following the Beijing Olympics, a photo published by a British tabloid showed Michael Phelps using a “bong,” a device for smoking marijuana, at a party in South Carolina. Kellogg’s withdrew Phelps’ endorsement contract. What does this incident tell you about maintaining and increasing brand value over time?
3. According to a study by two economics professors at the University of California, Davis, another recent example of an athlete who lost significant “brand value” is Tiger Woods, who destroyed an estimated $12 billion in stock market value of the firms sponsoring him—Accenture, Gillette, Nike, PepsiCo (Gatorade), and Electronic Arts (EA). As a manager, what lessons about celebrity endorsements can you draw from the examples of Phelps and Woods? What are some general take-aways that a strategist should keep in mind?

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  • CreatedDecember 12, 2014
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