What happens to the sponsorship market when the golfing icon, the world’s first billionaire athlete, decides to take an indefinite break from pro golf in favour of other, more controversial pursuits? Mayhem would be an understatement. Understandably, Tiger Woods has been dumped by Accenture Plc. While some have been supportive, others like Swiss watch maker Tag Heuer plan to spend the next few weeks assessing their relationship with Woods. But the golfer’s fall from grace will, in all probability, hurt the multi billion dollar sponsorship market bad. As Woods continues to get lurid and unrelenting media coverage for his personal demons, the $12 billion a year endorsement industry is aware that their poster boy has more potential to harm than help brands right now. And given the stakes, it seems that the worst sufferer in this entire episode will be the PGA Tour. Not everyone views Woods as a negative asset however. Gillette (a unit of US consumer giant Procter & Gamble) for one does not plan to sever its ties completely with the icon and plans to support Woods’ desire for privacy by limiting his role in marketing programs. Nike (supposed to be Wood’s best known endorsement) goes a step ahead and is standing by Woods; with CEO Phil Knight stating that these indiscretions are but a minor blip. Clearly, not everyone is abandoning Woods, who earns an estimated $100 million a year from endorsements. Sponsors like Electronic Arts Inc, TLC Vision Corp, Upper Deck, Berkshire Hathaway Inc’s NetJet et al plan to stick with Woods. Whoever said golf wasn’t a team sport needs a reality check!
Gyanendra Kashyap
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
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Gyanendra Kashyap
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
IIPM enters into media education
IIPM makes record 10,000 placements in five years
TSI exposes b school ranking scamsters Mahesh Peri of Career 360 and Premchand Palety of C fore. - For Complete Sting Operation Video Click Here
Pioneer Exposes the fraud called Mahesh Sharma and Mahesh Peri of Career 360 and Barbel Schwertfeger of mba-channel.com
IIPM Related Links
Follow Arindam Chaudhuri on Twitter
IIPM B School on Twitter
Management guru Arindam Chaudhuri’s latest blockbuster book, Discover The Diamond In You
Detail of all IIPM branches
IIPM - Admission Procedure
IIPM, GURGAON
IIPM 3-year full-time Integrated (MBA BBA) Programme
IIPM 2-year full time Programme (leading to the award of the MBA degree from IMI)
