| Celebrity endorsements have been becoming a very popular strategy in marketing communication. How to improve endorsing effectiveness of celebrity and prevent negative endorsing effectiveness are the important questions that both theorital scholars and practical managers are concerned with. Many enterprises have realized that they should consider the match-up between endorser and product. However, due to the limit of all aspects of the situation, they cannot always cooperate with celebrities that are fit with their products. In this situation, how can enterprises make more favorable decisions? Furthermore, kinds of negative information about celebrity frequently emerge in media of China market.How will endorsed products be affected by these negative information? In addition, many listed companies in China have also taken celebrity endorsement as marketing strategy widely. For these companies, will contract of celebrity endorsement cause positive performance in equity market? How will endorsing effectiveness of economic be impacted by celebrity/product fit and other factors? In view of the importance of these questions, the article investigates the impact of celebrity/product fit and negative information about celebrity. The conclusions of article have certain theoretical values for the further development and thorough study, and provide reference basises and guidances for celebrity endorsement decisions of enterprises.Firstly, the article exames the impact of celebrity/product fit on endorsing effctiveness of psychology. In the research area of celebrity endorsement, previous documents about match-up hypothese mainly focus on the impact of celebrity/product fit on endorsing effectivess, without deep analysis conbined with consumer characteristics in different segment markets. The article reconfirms the match-up effect by experiment studies, that is celebrity endorsements are evaluated more favorably in brand attitude and purchasing intention when celebrity and endorsed product are fit in expertise dimention than not fit. Results also show that, thinking style of consumer will have different impatct on perceived fit between celebrity and product and endorsing effctiveness of psychology. That is, when celebrity endorses the unfit products in expertise dimension, holistic thinkers show more favorable perceived fit, brand attitude and purchasing intention than analysis thinkers. And when celebrity endorses the fit products in expertise dimension, holistic thinkers show similar perceived fit, brand attitude and purchasing intention than analysis thinkers.Secondly, the article investigates the impact of negative information about celebrity endorser on endorsing effctiveness of psychology. Previous studies have done a lot of researches from different prospectives, including associated learning, responsibility attribution, country’s culture and affection cognition. Based on prospective of search-allignment for the first time, the article analyzes the impacting mechanism of celebrity’s negative information comprehensively, with synthesizing celebrity images, types of negative information and attitude certainty. Results show that when prior attitude certainty of consumer is low, for competence-image celebrity, compared to morality-image celebrity, negative competence information could lead to more attitude revision toward both celebrity and brand; for morality-image celebrity, compared to competence-image celebrity, negative morality information could lead to more attitude revision toward both celebrity and brand; for dual-image celebrity, compared to competence-image celebrity, negative competence information could lead to less attitude revision toward both celebrity and brand; for dual-image celebrity, compared to morality-image celebrity, negative morality information could lead to less attitude revision toward both celebrity and brand. Results also show that when prior attitude certainty of consumer is high, for competence-image celebrity, compared to morality-image celebrity, negative morality information could lead to more attitude revision toward both celebrity and brand; for morality-image celebrity, compared to competence-image celebrity, negative competence information could lead to more attitude revision toward both celebrity and brand; for dual-image celebrity, negative competence information could lead to less attitude revision toward both celebrity and brand compared to morality-image celebrity, and lead to the similar attitude revision toward both celebrity and brand compared to competence-image celebrity; for dual-image celebrity, negative morality information could lead to less attitude revision toward both celebrity and brand compared to competence-image celebrity, and lead to the similar attitude revision toward both celebrity and brand compared to morality-image celebrity.Thirdly, the article assesses the impact of celebrity/product fit and negative information about celebrity endorser on economic effectiveness based on China’s stock market. Most previous studies in celebrity endorsement areas center about psychology effectiveness, with neglect about economic effectiveness. Especially, no researchers pay attention to the economic effectiveness of celebrity endorsement in China market. By the method of event study, the article firstly investigates the impact of celebrity endorsement contract and negative information on performance of cooperation companies in China’s stock market. Results show that announcements of celebrity endorsement have insignificant positive effect on stock market performance of cooperated company; furthermore, there are significant positive relationship between abnormal returns and celebrity/product fit; endorsements of high-technology industry products coincide with significant less abnormal returns than other industries. Results also show that when the strength of the associative link between the company and the celebrity is strong, celebrity’s negative information will lead to negative short-term abnormal returns of cooperated companies; furthermore, abnormal returns in stock market of celebrity’s negative information are negative related with strength of the associative link significantly. |
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