*******400-600 words with reference and no plagarism*******

George Foreman was a professional boxer who made a comeback by endorsing grills. Foreman does not own the company that makes the grills, but he became the face of the brand. At first, people were not certain whether he was an expert on grills or fat-free cooking, but Foreman soon became thought of as the expert on this product and this type of cooking. Think of the concept of utility and how Foreman’s role as a celebrity endorser affects the marginal utility of these grill products. Answer the following:

·  How do people’s budget, income, and substitution effects fit in?

·  How do you think this influences the demand curve for indoor grill products?

·  Are these choices made rationally?

Answer preview

George Foreman has no expertise in grill preparation or fat-free cooking.  However, a person may wonder why customers were more attracted to grill which endorsed by George Foreman.  Celebrity endorsement has an impact in the marginal Utility.  According to Rafique & Zafar, (2012), the advertisement appeals to the conscious and subconscious mind.  Therefore, celebrity advertisement appeals to the customers buying pattern or influences people buying decisions.  The utility of the George Foreman Grill products increases when George Foreman is used as the face of the brand.  On the other hand, the marginal Utility declines when a celebrity is caught in a scandal or…

 

(450 words)