Business Ethic

Business Ethics 301

Tiger Woods is a very influential figure in the golf business. Tiger has won numerous PGA tours and majors. He was the youngest player to ever win the Masters at age 21. The golf world has been waiting for a player like Tiger Woods. He is an exciting player to watch, because you never know what he will do next. Tiger Woods turned to the pro league on Aug 27, 1996, Tiger has impacted all parts of the golf world as of today. He has brought so much money to the golf business to include endorsement deals, TV contracts, and the ticket sales throughout the years. According to his success the TV and corporate executives reports that the money has raised and is still rising in the golf business.

According to CBS Sports, their network’s golf ratings were up 24 percent since Tiger Woods started playing. PGA Tour commissioner Tim Finchern said that tournament purses will keep rising because of the increased TV revenue. Tiger Woods brings so many people to an event that gets paid an appearance fee. The tournaments pay him to show up, because they know that they will bring in much more money. Nike gave him a 5 year 40 million dollar deal. Before the deal, Nike’s golf sales were around 100 million dollars a year. After Tiger Woods signed, golf sales jumped to 250 million dollars. Tiger has had many endorsement deals to name a few Titlist, American Express, Rolex, Nike, and Buick.

Credibility and image is everything when it comes to marketing effectively using celebrity role models. Fact of the matter is that the image of a celebrity can be tainted within matter of minutes. Just like Tiger Woods scandal, he was put on blast by media in minutes. By law he was innocent until he opened his mouth and admitted to his immorality. Companies such as Gillett, Gatorade, Accenture, and AT&T quickly began pulling endorsement deals from the table. The companies feared the bad publicity and the image consumers would now associate with Tiger Woods and his sex scandal....