IIPM set to beat economic slowdown
Okay guys, the sublime, never-ending and blissful honeymoon that the celeb Brand Ambassadors elite club [read: Bollywood & cricket stars] enjoyed, pocketing insane mega-bucks by endorsing brands for companies, could have hit a killer road-block! The new Companies Bill 2008 proposes to toss any – or every – celeb into the slammer for up to three years, if found guilty of being party to propagate misleading claims and inducing customers to buy the product advertised. The companies involved are under the scanner as well. If found guilty, they will have to shell out a cool Rs.50 lakh [from a piddly Rs.1 lakh, earlier] in fine, for cheating and frauding the unguarded consumer. However, there is one bright spark. The Prosecution will have to ‘conclusively prove’ that the celeb endorser was aware he/she was making a false statement or representation – or that he/she did what he/she did, without ascertaining the facts.
The ad-frat, industry & celeb-management guys appear dumbstruck at what, they believe, is a ‘draconian’ move. Hot-shot photographer Atul Kasbekar leads the charge by going on record stating, “This is ridiculous! How on earth can a celeb be held responsible for worms in the brand of chocolate he endorses?!” Sanotsh Desai, head honcho of the Future Group, believes that the dice is – very unfairly – loaded against the celebs. “A penalty of Rs.50 lakh for the company and jail sentence for the celebrity is absurd.”
Anuja Chauhan, Executive Creative Director, JWT (whose debut novel The Zoya Factor is making big waves with the chick-lit diwanas) brings her own spin to the table. “I think its a good idea... specially if the brand endorser is endorsing the brand as himself... as in as Shahrukh Khan as opposed to as Rahul/Raj, or as Amitabh Bachchan as opposed to as Dadaji or whatever... and specially when the brand is targeting a lower or more rural SEC of consumer who truly take what the celebrity says to be the Gospel Truth. When some international brand comes to India and tries to woo me, I don’t know the brand, I just know the endorser. He’s the guy I totally believe in, he’s the one who introduces me to the brand and vouches for it. It’s like a friend introducing a stranger to you. So if the stranger takes you for a ride, you will go to your friend only, and say, yaar tooney toh mujhe duba hi diya...”
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Source : IIPM Editorial, 2009
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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