Third Party Endorsement - Definition & Meaning
What is Third Party Endorsement?
Third party endorsement is defined as solicited or unsolicited recommendation from an entity or individual who is neither manufacturer nor seller of the product/service. This recommendation maybe from loyal customer or from a business associate who are well known to the customers
Third Party Endorsement is a powerful tool as it persuades or convinces consumer to buy a certain product/service and consumer goes ahead with it as he/ she trusts the endorser
Types of Third Party Endorsements
Expert Endorsements
In this type of endorsements, an expert is selected as an endorser. When an expert gives positive feedback/opinion of any product/service, customers believe it because of vast experience and knowledge which an expert possess. This leads to the more sales of the product/service.
Media Endorsements
In this type of endorsements, newspapers or televisions are used as endorser. When product/service details are published in editorial section of any newspaper or shown in advertisements in any TV channels, a credibility is added. This credibility makes customers, purchase products/services, thus increasing sales.
Celebrities Endorsements
In this type of endorsements, celebrities endorse a particular product/service. Celebrities who are public figures can influence customers because of their fan following. Customers believe in celebrities and will buy whatever products/services they endorse.
Examples
(Expert Endorsement) :Mike Goulian, famous American aviator, endorses brand Castrol.
(Media Endorsement) :Newspaper “The Hindu” is endorser of management college, IIPM.
(Celebrity Endorsement): Shahrukh Khan is endorser of brand Pepsi in India.
Hence, this concludes the definition of Third Party Endorsement along with its overview.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
Browse the definition and meaning of more similar terms. The Management Dictionary covers over 1800 business concepts from 5 categories.
Continue Reading:
