An increase in demand is likely to raise prices, and higher prices will motivate the producer to increase the supply.
Celebrity marketing is a strategy that uses a well-known individual to promote a product. An actor, musician, athlete, former politician, or cartoon character are just a few examples of this famous individual. They just need to be well-known to the target demographic; they don't have to be global superstars.
For instance, a well-known skateboarder may be well-liked among young males who consume energy drinks but unknown to the general public.
An endorsement of a product by a celebrity can be either explicit or tacit. Some celebrity marketing strategies attempt to imply that the star personally uses and appreciates the product.
Others just use the celebrity to enhance the brand's image, depending on their reputation rather than an explicit endorsement of the product.
Learn more about celebrity marketing here:
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