Celebenomics: The Branding Genius of Kardashian
By Jo Piazza Posted Feb 23rd 2010 01:55PM
Sometimes while watching the antics of Kim, Khloe, Kourtney, Kris and Bruce on 'Keeping Up With the Kardashians,' we forget that beyond being a kooky family, they're also a money-making machine.
However, we were reminded just last week how fantastic a manager Kris Jenner is when Kim unveiled her latest endeavor: The Kim Kardashian Vanilla Cupcake Mix.
"Kim Kardashian had gained notoriety for her lifestyle, so I think it makes sense for her to have a diverse portfolio of endorsements that all encompass different areas of her lifestyle. Celebrities need to maximize their earning power while they can, so having a number of different options is a good thing," explains Rob Wilson, financial advisor with Blazer Capital Management.
Now, endorsing sweets might seem at odds with Kim's other gig as a spokeswoman for Quick Trim Diet Cleanse, but it is actually a genius example of Kimmie hedging her bets. Not only is the Kardashian clan appealing to a variety of consumers, but they're minimizing the risk from any one of their investments.
"She is definitely hedging, but I would take it a step further and say she is maximizing her exposure. For example, the target market for the cupcake brand and diet cleanse are completely different -- but they both know who she is and they'll follow her, regardless of whether she is liked or not. Marketers want people who are easily recognized to represent their products," explains Todd Schoenberger, the managing director for LandColt Trading in San Antonio. "Kim is simply maximizing her entire audience. It's the smart way to do it, because a lot of spokespeople will stick with only one industry or sector rather than introducing themselves to other core areas."
Sure, the cupcake market may spike and then taper off, but then what will start making dividends in its place? That's right, the diet industry. Because people pigged out on cupcakes, now they want to lose some quick pounds and Kim has them covered. Oh those Kardashians; they're getting folks on their way up and on their way down.
"Diversifying is one of the smartest financial moves you can make. Most people have to work with one paycheck, but as a celebrity -- and a savvy marketer and brand manager at that -- she's able to diversify her income streams," says Alexa von Tobel, CEO of LearnVest, the personal finance primer for smart ladies.
Laugh at Kim and her multiple spokeslady gigs all you want, but at the end of the day, Kim Kardashian will be laughing all the way to the bank.
Kim Kardashian Photos
©BAUER-GRIFFIN.COM Kim Kardashian in good spirits as she departs Los Angeles International Airport NON-EXCLUSIVE February 21st, 2010 Job: 100221NE1 Los Angeles, California www.bauergriffin.com www.bauergriffinonline.com
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