Students Perceptions about Celebrity Endorsement Nedim Kadri,

International Burch University Faculty of Economics, Management Department, Francuske revolucije b.b. ! """ #arajevo, Bi$,%&' ()&("'&(
ne*im.ka*ric+gmail.com

Abstract: ,he instrument of celebrity en*orsement has no-a*ays become a pervasive element in a*vertising an* communication management. It is unanimously accepte* that celebrity en*orsement can grant e.traor*inary characteristics to a pro*uct or service that may have lacke* other-ise. ,he great number of celebrities en*orsing bran*s has been increasing over the past *eca*es. ,he purpose of this stu*y is to e.amine perceptions of the stu*ent population in Bosnia an* $er/egovina 0hereafter name* Bi$1 about the celebrity en*orsement. 2uestionnaire is *esigne* an* use* to survey a ran*omly selecte* sample of university stu*ents an* !)3 usable responses -ere obtaine*. During the research, five hypotheses have been teste*. Data -ere analy/e* by performing *escriptive statistics an* 4hi5#6uare test. 4hi5#6uare test -as use* to analy/e relationship bet-een nationality of respon*ents an* factors that influence *ecision of choosing celebrity en*orser by firm. Fin*ings sho- that stu*ents perceive celebrities as a very important factor in a*vertisements. Keywords: celebrity endorsement, students, advertising, consumer perceptions

1. IN !"#$C I"N
,he emergence of the concept calle* celebrity en*orsement has create* the nee* to un*erstan* ho- an* -hy this concept is use* as a tool of promotion. Despite the cost an* the risks involve* -ith this techni6ue of a*vertising, it has been use* 6uite e.tensively in the present era. 7ll over the -orl*, celebrities have been use* for *ifferent types of bran*s. Everyone is e.pose* to
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a*vertisements, especially young population. ,he marketing lan*scape has become more *ifferentiate* by a*vertisements, an* it is very easy to get notice*. In*ee*, even though celebrity en*orsement represents some risks, it is a largely use* metho* to reach competitive a*vantage by companies. ,o*ay, companies spen* millions each year for the en*orsement of their pro*ucts8services by celebrities. It is al-ays a great challenge for marketers to *etermine the meaning consumers associate -ith the bran* in or*er to select the right celebrity an* to buil* the right celebrity en*orsement concept. In fact, there are many factors influencing the effectiveness of a celebrity en*orsement strategy -hich are not taken into consi*eration -ell enough. 7lthough the tren* in celebrity a*vertising is gaining momentum in Bi$, there is limite* information on ho- Bosnian consumers perceive the a*vertising of bran*e* pro*ucts by celebrities, especially stu*ent population. 7re there *ifferences in their perceptions to-ar*s pro*uct en*orsement by celebrities9 Is the celebrity key motivation factor -hen they are buying a pro*uct9 ,hese 6uestions are particularly important as there -ere no prior stu*ies or information relate* to these issues. :ith gro-ing competitiveness in to*ay;s in*ustry an* similarity of pro*ucts an* services offere* by *ifferent companies, it has become increasingly important that companies i*entify the best -ay of a*vertising their market offerings. E.ploring such information -ill help companies to i*entify the appropriate marketing strategies nee*e* to attract ne- customers an* retain e.isting ones. <ne promising segment -hich arguably, has not been given enough attention is the younger age group. 4ompanies -hich are planning to cultivate this vibrant market segment must un*erstan* ho- in*ivi*uals belonging to such segments perceive celebrity en*orsement that companies are using in their a*vertising. Furthermore, stu*ents constitute significant population of consumers an* it seems very important to fin* out their opinion about this process. By investigating stu*ents; perceptions about celebrity en*orsements this stu*y -ill help marketers to see if celebrity a*vertisements are more effective than non5celebrity a*vertisements as -ell as if celebrity can have the po-er to change stu*ents; perceptions about the pro*uct.
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,his stu*y analy/es celebrity en*orsement through e.isting literature an* brings attitu*es of stu*ent population in Bi$ about this matter. In follo-ing sections basic *efinitions of celebrity an* en*orsement, historical backgroun* of this marketing strategy, the reasons -hy celebrities are use* in a*vertisements, as -ell as research objectives an* hypothesis -ill be presente*. $o*ata -ere collecte* for this stu*y -ill be presente* in metho*ology section. Follo-ing metho*ology section, five hypotheses -ill be teste*. Data -ill be analy/e* by performing *escriptive statistics an* 4hi5#6uare test. 4hi5#6uare test -ill be use* to analy/e relationship bet-een nationality of respon*ents an* factors that influence *ecision of choosing celebrity en*orser by firm. 7s last part of this stu*y, results from *escriptive analy/es an* 4hi5#6uare test -ill be presente* together -ith the conclusion section -ere *ifferent suggestions for marketers an* other company representatives -ill be provi*e*, in or*er to improve 6uality of the service as -ell as *esign of ne- a*vertising offers.

%. &I E!A $!E !E'IE(

%.1. A de)inition o) celebrity and endorsement In the literature, there are 6uite many *efinitions of celebrities, state* from *ifferent perspectives, but in this research, -e bring t-o *efinitions from -i*ely kno-n e.perts in this matter. Frie*man = Frie*man 0!> >1 e.plain that ?a celebrity is a person such as an actor, sportsman, entertainer, etc, who is different from the general public and is recognized by them, because of his or her achievements. Celebrities are people who enjoy public recognition by a large share of a certain group of people whereas attributes like attractiveness, extraordinary lifestyle are just examples, and specific common characteristics cannot be observed, though it can be said that within a corresponding social group celebrities generally differ from the social norm and enjoy a high degree of public awareness 0#chlecht, )""&1. <n the other han* @oll 0)""(1 provi*e* a *efinition of en*orsement by stating thatA ? ndorsement is a channel of brand communication in which a celebrity acts as the brand!s
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spokesperson and certifies the brand!s claim and position by extending his"her personality, popularity, stature in the society or expertise in the field to the brand. %.%. Customer perceptions about celebrity endorsement

4ustomer perceptions about celebrity en*orsement have been of big interest by researchers in past several years. ,he results of previous stu*ies sho-e* that the highest benefit of involving celebrities in a*vertising is to create e.posure an* attention from consumers. Barticular *ifferences an* similarities are present in the impact of celebrity en*orsements an* hoconsumers perceive them. :hile there is a positive impact of celebrity en*orsements on attention an* e.posure of consumers, its connection to positive attitu*es to-ar*s bran*s an* purchase *ecision is less un*erstan*able 0Bis-as, $ussain, = <;Donnell, )"">1. 7ccor*ing to Er*ogan et al., )""! consumers perceive that information coming from celebrity, especially famous spokesperson has more similarities -ith their lifestyle an* interest in comparison to the unkno-n persons. Both, theory an* practice have proven that the use of celebrities in a*vertising is a goo* -ay for attracting attention of a public 0<hanian, !>>!1. 4elebrities are very popular among the public an* they enjoy in being seen by vast majority of people. Coo* looks, interesting lifestyles an* *ifferent backgroun*s are just some of celebrities; special characteristics that are *ifferentiating them from or*inary people, -hich guarantee them a great amount of the public;s attention. 4elebrity en*orsers are use* by the companies because they are consi*ere* to have something that is calle* D;stopping po-er;;, i.e., a celebrity can be a useful tool to *ra- attention in a*vertising messages *irecte* to public. 7**itionally, consumers usually have perception that, -hen a celebrity en*orses a company, it tells that the company has goo* reputation, pro*ucts or goo* customer service an* their pro*ucts are -orth of buying.
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7ccor*ing to Escalas = Bettman 0)""&1, some people are buil*ing image of themselves from bran* associations base* on celebrity en*orsementE they *o that in a manner that is consistent -ith self5relate* nee*s, such as self5enhancement. For e.ample, a consumer may imagine about himself to be a sportsman an* nice *resse*, like Davi* Beckham, -ho is no- en*orsing many bran*s, inclu*ing 7*i*as an* Bolice sunglasses. 7ccor*ing to his *esire to look more like Beckham, the consumer may choose to play football in 7*i*as shoes an* -ear Bolice sunglasses -hen not playing the football game. 7s a result of that process, he may create a self5bran* connection to these bran*s en*orse* by Beckham, -hich helps to him to create his self5concept aroun* the images of being athletic an* -ell *resse*. ,hanks to this, he -ill communicate -ith others representing this self5image of him. #chlecht *)""&1 analy/es the connection bet-een consumer perceptions about celebrity en*orsements an* bran*s, by applying a theory of -i*ely accepte* principles of ho- consumers; bran* attitu*es an* thoughts can be positively influence*. #he foun* in her stu*y that celebrity en*orsement strategies can un*er the right circumstances in*ee* justify the high costs associate* -ith a*vertising. 7ccor*ing to 7mos, $olmes = #tratton 0)""'1 there is a relationship bet-een use of a celebrity en*orser an* the effectiveness of that en*orsement. ,his result emphasi/es the high risk associate* -ith using celebrity en*orsers as -ell as the great impact of scan*als attache* -ith celebrities. #ilvera = 7usta* 0)""F1 highlight characteristics of a*vertisements that make them effective in *elivering messages. ,he fin*ing propose that en*orsement a*vertising effectiveness can be strongly influence* by consumers; perceptions concerning -hether the en*orser truly likes the pro*uct. ,his research also suggests that a*vertisers shoul* put more effort not only into selecting right en*orsers, but also into provi*ing strong arguments an* e.planations for -hich reason en*orsers actually *o like the pro*ucts they en*orse.

@elationship bet-een celebrity en*orsements an* bran*s -as e.amine* by Mukherjee 0)"">1, as -ell as the impact of celebrity en*orsement on consumerGs buying behavior. In his opinion, celebrity en*orsement is al-ays a t-o5e*ge* s-or* an* it has a number of positivesHif properly matche* it can *o miracle for the company, an* if not it may pro*uce a very negative conse6uences for the bran* an* company at all. Can *)""(1 investigates the 4hinese consumer;s behaviors to-ar* celebrity an* non5celebrity a*vertisement. ,he results sho- that 4hinese consumers like celebrity -ho has more professional career skills, appearances, communication skills etc. $unter = Davi*sson 0)""'1 e.plore impact of negative information about celebrity to consumer perception about bran*. 4onclusion is that negative information might lea*s to negative attitu*e to-ar*s the bran*. But, that is not case if company is le* by celebrity. #aleem 0)"" 1 highlighte* that a celebrity en*orsement is becoming very important part of marketing structure. #he proposes that marketers shoul* use celebrities in a*s -hen there is no or very little pro*uct *ifferentiation. But, -hen marketers have to focus on more *iverse market, multiple celebrities en*orsement 0more than one celebrity in a single a*vertisement1 coul* be an ans-er. Ioernig = Boy* 0)"">1 take an e.ample of famous athlete an* unkno-n mo*el in or*er to e.amine the roles of pro*uct en*orser D;match;; -ith celebrity an* non5celebrity en*orsers. ,he results sho- that a famous athlete is more effective -hen en*orsing a sport bran* than a non5 sport bran*. In her paper @afi6ue, 0)"!)1 investigate* the customer perceptions about celebrity en*orsements -ith respect to their physical attractiveness, source cre*ibility an* congruence on customers; bran* perception an* purchase intention. In her paper she teste* the efficacy of this marketing tool. Data that -ere collecte* from !"& respon*ents in 6uestionnaire form have been factor analy/e*. 7n* also she use* 7J<K7, @egression 7nalysis an* 4ronBach;s 7lpha to verify the *evise* mo*el. @esults of her stu*y sho-e* that celebrity en*orsements *o have impact on customer;s perception an* purchase intention.
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Bugha/hen*i, Baskaran, Brakash, = Balamurugan, 0)"!)1 in their stu*y e.plore* the consumer perceptions to-ar*s single celebrity en*orsement an* multiple celebrity en*orsement more than one celebrity in a single a*vertisement for high an* lo- involvement pro*ucts an* services. ,hey *esigne* 6uestionnaires an* *eliver them to three hun*re* university stu*ents to assess the impact of multiple an* single celebrities; en*orsement -ith respect to high an* lo- involvement pro*ucts. In their stu*y they use* regression an* t test analyses an* results of these analyses sho-e* that the customer perceptions to-ar* a*vertisements, bran* an* purchase intentions are more positive for multiple celebrities; a*s.

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!esearc, "b-ecti.e

,he topic of celebrity en*orsements an* its elements is *eeply ackno-le*ge* in aca*emic literature, but -hat makes this research out of the or*inary is that it enables us to un*erstan* the celebrity en*orsement process from a stu*ent;s point of vie-. Jot much has been seen in the stu*entGs light *espite the fact of it being perceive* as a potential market segment for celebrity en*orse* pro*ucts. 7ttitu*es of stu*ent population are changing at a rapi* pace an* they are becoming more a-are of the pro*ucts that they use to *efine their Dself;. ,he research is carrie* out to obtain a vieamong stu*ent population about celebrity en*orsement. Is it as positive as it is assume* to be9 Most a*vertisements, majorly focuses on the young generation, therefore their perception about the celebrity en*orse* form of a*vertisement is out of most importance, also getting to kno- the attitu*e the youth provi*es the kno-le*ge of the most current inci*ents or attitu*es of any country, hence the youth has been targete* in this research. ,he research un*ertaken on celebrity en*orsement in this stu*y -ill be useful on both aca*emic an* professional platform, as it looks into the perception of stu*ents on celebrity en*orsement, provi*ing theory for scholarly an* *irectives for managers an* professionals.
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%./.

!esearc, 0ypot,eses

In this research, -e *evelope* 3 hypotheses -hich are going to be teste*. #$ Celebrity advertisements are more effective than non%celebrity advertisements. #& 'ale endorser is more effective as compared to female endorser. #( Celebrity has the power to change students! perceptions about the product. #) *here is no relationship between nationality of students and factors that influence decision of choosing celebrity endorser by firms. #+ *here is no relationship between gender of students and type of celebrity who is preferred to be seen in advertisements the most.

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Data for the stu*y -ere collecte* through a survey *elivere* to stu*ents in Bosnia an* $er/egovina. 7 total of )"" 6uestionnaires -ere *istribute* to stu*ents -ho live in *ifferent cities in Bosnia an* $er/egovina. <f the )"" 6uestionnaires, !)3 -ere accepte* as usable for the stu*y. 2uestionnaire -as consiste* from )" items. @esults have been analy/e* by using #B## soft-are. Data -ere analy/e* by performing *escriptive statistics an* 4hi5#6uare test. 4hi5 #6uare test -as use* to analy/e relationship bet-een nationality of respon*ents an* factors that influence *ecision of choosing celebrity en*orser by firm. 7ll 6uestions have been man*atory to ans-er in or*er to create clear picture about attitu*es of respon*ents. @esults of these fin*ings -ill be presente* in follo-ing section.

/. !ES$& S
In the follo-ing pages e*ucational, national an* gen*er structure of our respon*ents -ill be presente*. 7fter that hypotheses -ill be teste*. ,7BLE ! E*ucational level of respon*ents

Un*ergra*uate stu*ent Cra*uate stu*ent ,otal

Fre6uency >" &3 !)3

Bercent ) )' !""

Kali* Bercent ) )' !""

7s -e can see from table !, there -ere >" un*ergra*uate stu*ents 0 )M1 an* &3 gra*uate stu*ents 0)'M1 that -e use* in the sample for our stu*y.

,7BLE ) Jationality of respon*ents Fre6uency Bosnian ,urkish #erbian Bakistani Mongolian ,otal '& &) ! ) !)3 Bercent ((.F )3.( 3.( ".' !.( !"" Kali* Bercent ((.F )3.( 3.( ".' !.( !""

Looking at the table ) -e can fin* information about subjects; nationality. 2uestionnaire -as *istribute* to stu*ents of *ifferent national backgroun*s. Bosnians -ere again vast majority 0((,FM1, ,urkish 0)3,(M1, Mongolians 0!,(M1, #erbians 03,(M1. 7lso, there -as one stu*ent from Bakistan 0",'M1.

,7BLE & Can*er of respon*ents use* in the sample

Fre6uency Male Female ,otal 3 3" !)3 Bercent (" F" !"" Kali* Bercent (" F" !""

For this stu*y as a sample -e use* both, males an* females. In table & -e can notice that there -ere 3 male respon*ents 0("M1 an* 3" female respon*ents 0F"M1 use* in the sample.

7fter -e fin* out proportion of e*ucational, nationality an* gen*er backgroun*, -e are going to test our hypotheses. #$ Celebrity advertisements are more effective than non%celebrity advertisements. ,7BLE F #tu*ents; perceptions about the effectiveness of celebrity a*vertisements as compare* to non5celebrity a*vertisements Fre6uency #trongly Disagree Disagree Jeutral 7gree #trongly 7gree ,otal !! )F !> & &F !)3 Bercent '.' !>.) !3.) )>.( ) .) !"" Kali* Bercent '.' !>.) !3.) )>.( ) .) !""

,he percent of stu*ents -hich agree -ith statement 03(,'M1 is much more higher than percent of stu*ents -hich *isagree -ith this statement 0)'M1. #o $ ! is accepte*, accor*ing to stu*ents; opinion, celebrity a*vertisements are more influential than non5celebrity a*vertisements.

#& 'ale endorser is more effective as compared to female endorser.

,7BLE 3 #tu*ents; perceptions about the effectiveness of male en*orser as compare* to female en*orser

Fre6uency #trongly Disagree Disagree Jeutral 7gree #trongly 7gree ,otal ) F) )3 )" !! !)3

Bercent )!.( &&.( )" !( '.' !""

Kali* Bercent )!.( &&.( )" !( '.' !""

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,he percentage of stu*ents -ho *isagree -ith this statement 033,!) M1 is slightly bigger than percentage of stu*ents -hich agree 0)F,' M1. #o, $ ) is rejecte*, in stu*entsG vie-, male en*orser is not more effective as compare* to female en*orser.

#( Celebrity has the power to change students! perceptions about the product ,7BLE ( Influence of celebrity on stu*entsG perceptions about the pro*uct
Fre6uency #trongly Disagree Disagree Jeutral 7gree #trongly 7gree ,otal > )' )' &( )F !)3 Bercent .) )).F )).F )'.' !>.) !"" Kali* Bercent .) )).F )).F )'.' !>.) !""

From the table ( -e can clearly see that F'M of stu*ents believe that celebrity has the po-er to change their perceptions about the pro*uct, -hile )>,( M *isagree -ith that statement. ,he rest of population is neutral 0)),FM1. #o, $ & is accepte*, stu*ents believe that celebrity can change perceptions about pro*ucts to some e.tent. #) *here is no relationship between nationality of students and factors that influence decision of choosing celebrity endorser by firms. ,7BLE @elationship bet-een nationality of stu*ents an* factors that influence *ecision of choosing celebrity en*orser by firms 4ost of Bopularit Bhysical Jationality ac6uiring <ther ,otal y attractiveness celebrity & )& ! ( '& Bosnian !3 3 3 &) ,urkish & ! " & #erbian ! " " " ! Bakistani ! " ! " ) Mongolian 3 &! )& !F !)3

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FICU@E ! @elationship bet-een nationality of stu*ents an* factors that influence *ecision of choosing celebrity en*orser by firms ,7BLE ' 4hi5#6uare ,est Kalue Bearson 4hi5#6uare Likelihoo* @atio Linear5by5Linear 7ssociation J of Kali* 4ases !&.&(&>F !).>!FF( ".F"" ' !)3 *f !) !) ! 7symp. #ig. 0)5 si*e*1 ".&F& ".& 3 ".3)

4hi5#6uare test is use* to analy/e is there any relationship bet-een nationality of respon*ents an* factors that influence *ecision of choosing celebrity en*orser by firm. From the table, -e can see that p5value is ".&F& an* level of significance is "."3. #ince p5value is higher than level of significance, -e -ill accept $F. For majority of stu*ents, popularity of celebrity is the most important factor. #+ *here is no relationship between gender of students and type of celebrity who is preferred to be seen in advertisements the most

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,7BLE > @elationship bet-een gen*er of stu*ents an* type of celebrity -ho is preferre* to be seen in a*vertisements the most
Cen*er Male Female ,otal 7thletes ' ( !F Footballers &" > &> Mo*els )" )) F) 7ctors ! !& &" ,otal 3 3" !)3

FICU@E ' @elationship bet-een gen*er of stu*ents an* type of celebrity -ho is preferre* to be seen in a*vertisements the most

,7BLE !" 4hi5#6uare ,est

Kalue .3))'> F .'!)3 ) !.( 3'& ) !)3 *f & & !
7symp. #ig. 0)5si*e*1

Bearson 4hi5#6uare Likelihoo* @atio Linear5by5Linear 7ssociation J of Kali* 4ases

"."3 "."3 ".!>3

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4hi5#6uare test is use* to analy/e is there any relationship bet-een gen*er of respon*ents an* celebrity -ho is preferre* to be seen in a*vertisements the most. From the table, -e can see that p5value is "."3 an* level of significance is "."3. #ince p5value is higher than level of significance, -e -ill accept $3. Footballers are favorite celebrities for male stu*ents, -hereas mo*els are favorite celebrities for female stu*ents.

/. C"NC&$SI"N
In to*ay;s serious a*vertising clutter, -ith the purpose to *ifferentiate pro*ucts from competitors, celebrity en*orsement strategy can be a successful competitive tool for companies in establishe* an* saturate* markets. ,here -ill not be place for real pro*uct *ifferentiation in markets, as long as the company selects the ?rightN celebrity. In this paper, stu*ents; perceptions about celebrity en*orsements -ere analy/e*. #tu*ents believe that celebrity a*vertisements are more influential than non5celebrity a*vertisements. 4elebrity en*orsement a*vertising strategies can un*er the right con*itions give goo* reason for the high costs for this kin* of a*vertising. <n the other han*, companies must kno- the fact that the usefulness of celebrity a*vertising is mostly to the *egree of *ra-ing consumers; attention an* may not automatically transform to purchase behavior. It is crucial for marketers to be a-are of consumer perceptions about celebrity en*orsement in this respect. Even though many stu*ies sho- that gen*er or cross gen*er interactions bet-een en*orsers an* target segment of customers are assorte* an* incapable to provi*e any course to practitioners, 0Er*ogan, !>>>1 this stu*y sho-e* that stu*ents *on;t perceive male en*orser more effective than female en*orser. 7nother fin*ing that can be useful information to marketers is that stu*ents perceive that celebrity has the po-er to change their perceptions about the pro*uct. ,he present research also suggest that marketers shoul* choose celebrity en*orser -ho is the most popular in or*er to target stu*ent population in Bi$. <ther characteristics of celebrity seem
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6uite irrelevant for stu*ents. It is very interesting fact that majority of respon*ents of all national groups perceive celebrity popularity as the most important factor. ,here is no a significant relationship bet-een gen*er of stu*ents an* celebrity -ho is preferre* to be seen in a*vertisements. Male stu*ents prefer footballers as celebrity en*orsers, -hereas female stu*ents prefer actors as celebrity en*orsers. For marketers, it is very important fact -hen creating a*vertising messages to stu*ent population in Bi$. <n the other han* there is no significant relationship bet-een nationality of stu*ents an* factors that influence *ecision of choosing celebrity en*orser by firms Because this research has concentrate* its attention on stu*ents, researches con*ucte* in the future can focus on a *ifferent range of age an* profiles of persons in Bosnia an* $er/egovina, -hich coul* reveal various vie-points an* information about this topic. ,he population of Bosnia an* $er/egovina is not very big, but in its small si/e bares great *iversity. ,hus various researchers targeting various groups of people -ith *ifferent ethnicities an* also accor*ing to their socio5economic classes nee* to be con*ucte*.

4. !E5E!ENCES
7mos, 4., $olmes, C. = #tratton, D. 0)""'1. E.ploring the @elationship bet-een 4elebrity En*orser Effects an* 7*vertising EffectivenessA 7 2uantitative #ynthesis of Effect #i/e. ,nternational -ournal of .dvertising, ) 0)1, )">O)&F. Bis-as, #., $ussain, M., = <;Donnell, I. 0)"">1. 4elebrity En*orsements in 7*vertisements an* 4onsumer BerceptionsA 7 4ross54ultural #tu*y. -ournal of /lobal 'arketing, &&0)1, !)!O!& . *oiA!".!"'"8"'>!! (">") (3>F" Bugha/hen*i, 7., Baskaran, D. I. 7., Brakash, M. @., = Balamurugan, @. J. 0)"!)1. 7 #tu*y on Effectiveness of Multiple an* #ingle 4elebrity En*orsement on 4onsi*erable Bro*uct 7*vertisements In 4hennai Berceptive, In*ia. 0ar ast -ournal of 1sychology and 2usiness, 30)1, !!O!'. @afi6ue, M. 0)"!)1. Impact of 4elebrity 7*vertisement on 4ustomers; Bran* Berception an* Burchase Intention. .sian -ournal of 2usiness and 'anagement 4ciences, $0!!1, 3&O( . Escalas, P.E. = Bettman, P.@. 0)""&1. Qou 7re :hat ,hey EatA ,he Influence of @eference Croups on 4onsumer 4onnections to Bran*s. -ournal of Consumer 1sychology, !&0&1, &&>5&F'. Er*ogan, B.R., Baker, M.P. = ,agg, #. 0)""!1. #electing celebrity en*orsersA ,he practitionerGs perspective. -ournal of .dvertising 5esearch, F!0&1, &>5F'.
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Frie*man, $. $. = Frie*man, L. 0!> >1. En*orser effectiveness by pro*uct type. -ournal of .dvertising 5esearch. !>031, (&5 !. Can, :. 0)""(1. ffectiveness of Celebrity @etrieve* March !3, )"!& from ndorsement .dvertising in Chinese 'arketplace.

httpA88e*issertations.nottingham.ac.uk8))38!8"(M7li.-g!.p*f $unter, E. = Davi*sson, B. 0)""'1. Celebrity ntrepreneurship6 *he ffect of 7egative Celebrity ,nformation on the 7ew 8enture. In Babson 4ollege Entrepreneurship @esearch 4onference. ,he University of Jorth 4arolina, 4hapel $ill. 3O Pune )""'. Ioernig, #. I. = Boy*, ,. 4. 0)"">1. ,o catch a tiger or let him goA ,he match5up effect an* athlete en*orsers for sport an* non5sport bran*s. 4port 'arketing 9uarterly, !'0!1, !35& . Mukherjee, D. 0)"">1. ,mpact of Celebrity ndorsements on 2rand ,mage . <nline. 7bstract from #ocial #cience @esearch Jet-ork, Electronic Baper 4ollection. @etrieve* 7pril ), )"!& from httpA88ssrn.com8abstractS!FFF'!F <hanian, @. 0!>>!1. ,he Impact of 4elebrity #pokespersons; Berceive* Image on 4onsumers; Intention to Burchase. -ournal of .dvertising 5esearch, &!0!1, F(53&. @oll, M. 0)""(1. 2randing and Celebrity ndorsements. @etrieve* Pune !!, )"!& from httpA88---.venturerepublic.com8resources8bran*ingTcelebritiesTbran*Ten*orsementsTbr an*Tlea*ership.asp #aleem, F. 0)"" 1. Qoung 7*ult Berception ,o-ar*s 4elebrity En*orsementA 7 4omparative #tu*y of #ingle 4elebrity an* Multiple 4elebrities En*orsement. uropean -ournal of conomics, 0inance and .dministrative 4ciences, '0!1, !)'5!&>. #chlecht, 4. 0)""&1. 4elebrities; impact on bran*ing. Center on /lobal 2rand :eadership6 4olumbia Business #chool. #ilvera, D. $. = 7usta*, B. 0)""F1. Factors Bre*icting the Effectiveness of 4elebrity En*orsement 7*vertisements. uropean -ournal of 'arketing, &'0!!8!)1, !3">5!3)(. &ist o) acronyms 7J<K7A 7nalysis of variance Bi$A Bosnia an* $er/egovina

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