An intersing story came to my mind when i went to my first marketing class of 2010. This is the Tiger Woods Story.
If you havent heard about this story, then please come out of your cave or rock you have been hiding under and join, us “people”.
His perfect athelete image fell quicker than the speed of light. Till now, Gatorade has ditched and many more were on the brink of parting ways with him too. These include AT&T, Gillette, which are his main sources of income offfield
From my point of view, there were many reasons why he lost his endorsements, and marketability.
1. The minute the story broke of the car accident, his team should have had a vague prepared statement that scratched the surface as it related to the seriousness of the situation—i.e. this was more than an accident and the truth will come out soon.
2. He shouldve came out publicy and apologized to his wife publicly and discuss his situation no matter how bad it is.
3. He could have contacted his endorsements in hopes they woulndt drop him.
Living in the 21st century, the world is a media driven socity. Therefore it is very easy for ones credibility they work so hard to build to be stripped away in a matter of minutes. The TIger Woods sex scandal is a classic marketing crisis