The Korean craze Gangnam Style is know all over the world. With its catchy tune, it’s impossible not to notice. Most of us think that it’s just a catchy song and nothing more, but to Korean businesses and stock buyers, it presents a real money-making opportunity. The power of celebrity endorsement is nothing new when it comes to marketing your product, but I never really gave much thought to how powerful it could be until I came arcoss Tamsin McMahon‘s article on Macleans’ Business Blog. Psy, the creator of Gangnam Style, is not only bringing in better sales for those who endorse him but also boosts in market share price. Companies such as DI Corp., who have seen their stock price soar to 500% of its original value, are taking full advantage of Psy’s fame. In business, if you want to be successful, you have to get yourself noticed by customers. Differentiation from your competitor is very important to get customers to pick your product over all the others. For customers, if they see their favorite pop (or in this case K-Pop) star, they are more inclined to buy a product. When a popular figure, such as Psy, associates himself with your product it gives you the competitive edge you need to make your product the one customers choose.
https://www.youtube.com/watch?v=oHDacG_ESf8&feature=player_embedded
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