The Trouble with Celebrity Endorsements

Celebrity spokespeople are expensive and risky, and they don't always pay off

Tiger Woods is one of the greatest athletes of all time. He's also a product-endorsement gold mine. I have no trouble believing that Tiger actually prefers to use most of the products he endorses, including his Nike (NKE) equipment, Titleist (FO) golf balls, Gatorade sports drink, Gillette razors, American Express (AXP) card and Tag Heuer (LVMH) watch. But Buick (GM)? That's a stretch. Yet GM has paid Woods millions of dollars to stand up for the brand.

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