Description
Hi, Please make power point slides using this info
Unformatted Attachment Preview
1
Demand for Celebrity Licensing and Branding in Saudi Arabia
Student’s Name
Institutional Affiliation
Course Number
November 7, 2023
2
Demand for Celebrity Licensing and Branding in Saudi Arabia
For firms such as CMG Worldwide and WorldwideXR, market research on the need
for celebrity licensing and branding in Saudi Arabia entails researching the cultural,
economic, and societal factors that influence the market. Saudi Arabia is increasingly
interested in celebrity culture, particularly entertainment, sports, and fashion. As customers
seek methods to engage with their favorite celebrities and influencers, the demand for
celebrity licensing and branding is gradually expanding.
Market Demand
Market Demand
Saudi Arabia is experiencing a significant increase in its interest in celebrity culture,
which spans various industries such as entertainment, sports, and fashion. This rising demand
is supported by a confluence of variables that have produced a great thirst in the country for
celebrity licensing and branding. Celebrities, whether of local or international origin, have
enormous cultural significance. These people have played key roles as cultural icons,
representing social ideals and beliefs. They are not simply entertainers but influencers who
shape lives and preferences in the Kingdom. Furthermore, the growth of social media
platforms has had a transformational impact on the landscape. Social media platforms such as
Instagram, Snapchat, and Twitter have enabled direct and intimate contact between
celebrities and their large following in Saudi Arabia. Because of this digital connection,
customers strongly desire to align themselves with the products, fashion lines, and
experiences sponsored or associated with their favorite celebrities (Badawi & Basif, 2023).
Target Audience and Preferences
The target audience for celebrity licensing and branding in Saudi Arabia is a dynamic
and changing demographic environment. It primarily focuses on the fast-growing young adult
population and the emerging middle class. These people are distinguished by their digital
3
connectivity and innate desire for a modern and globalized lifestyle. They are eager to
communicate with their favorite celebrities in novel ways since they have a strong presence
on social media platforms and want to stay current on the current trends. This audience’s
tastes include a wide range of products and experiences associated with celebrities, such as
fashion lines and fragrances (Alanmi & Alharthi, 2023).
Potential Competitors
Local and international enterprises with a significant presence in the fashion and
entertainment industries may be potential competitors for celebrity licensing and branding in
the Saudi market. Due to established links with worldwide personalities, international firms
may already have a competitive advantage. Local players may concentrate on catering to the
Saudi market’s distinct interests and values. Companies such as CMG Worldwide and
WorldwideXR may encounter competition from both domestic and foreign sources.
PESTEL Analysis
Political: With the Vision 2030 plan, Saudi Arabia has undergone significant political and
economic reforms to diversify the economy and reduce its reliance on oil. This allows foreign
companies to invest in entertainment, technology, and branding. However, regulatory hurdles
connected to censorship and content approval may still exist, impacting celebrity branding
initiatives (Fadil et al., 2023).
Economic: Saudi Arabia’s economy is heavily reliant on oil earnings, and oil price changes
can considerably impact consumer spending. Companies looking to enter the market should
regularly watch oil price developments and consider how they might affect the target
audience’s disposable income and purchasing power (Fadil et al., 2023).
Social: Saudi society is going through a generational transformation, with an increasing
youth population that is more open to modern and global influences. Because of the younger
generation’s fondness for social media and digital platforms, opportunities for digital
4
celebrity branding and virtual experiences abound. Understanding local cultural norms and
values is critical for brand engagement success (Fadil et al., 2023).
Technological: Saudi Arabia is actively investing in technical developments and cultivating a
growing population of tech-savvy citizens. Augmented reality (AR), virtual reality (VR), and
immersive experiences are on the upswing, creating an ideal atmosphere for firms like
WorldwideXR to offer novel digital experiences and celebrity-related items.
Environmental: While celebrity licensing and branding have a low environmental impact,
there is a growing global awareness of sustainability and eco-friendly activities. To meet
changing consumer values, new entrants should consider implementing sustainable practices
into their operations and products (Fadil et al., 2023).
Legal: Branding and licensing in Saudi Arabia are influenced by distinct legal and cultural
concerns. Companies must know local rules and restrictions regarding content, licensing
agreements, and celebrity promotion. Censorship standards and cultural sensitivities must be
followed (Fadil et al., 2023).
5
References
Alanmi, M., & Alharthi, S. (2023). The impact of digital marketing on consumer buying
behavior in Saudi Arabia: Brand Popularity as a mediator. Journal of Business and
Management Review, 4(6), 412–438. https://doi.org/10.47153/jbmr46.6552023
Badawi, N. S., & Basif, A. A. (2023). The impact of consumer-based brand equity on
consumer attitude and intention towards electronic word-of-mouth: An empirical
study on luxury brands in Saudi Arabia. Innovative Marketing, 19(3), 11–20.
https://doi.org/10.21511/im.19(3).2023.02
Fadil, A., Davis, P. K., & Geraghty, J. (2023). A Mixed-Method Approach to Determine the
Successful Factors Affecting the Criticality Level of Intermediate and Final Products
on National Basis: A Case Study from Saudi Arabia. Sustainability, 15(7), 6023.
https://doi.org/10.3390/su15076023
Outline
Demand for Celebrity Licensing and Branding in Saudi Arabia
Market Demand
•
Saudi Arabia is experiencing a significant increase in its interest in celebrity culture,
which spans various industries such as entertainment, sports, and fashion. This rising
demand is supported by a confluence of variables that have produced a great thirst in
the country for celebrity licensing and branding. Celebrities, whether of local or
international origin, have enormous cultural significance.
•
The target audience for celebrity licensing and branding in Saudi Arabia is a dynamic
and changing demographic environment. It primarily focuses on the fast-growing
young adult population and the emerging middle class. These people are distinguished
by their digital connectivity and innate desire for a modern and globalized lifestyle.
•
Local and international enterprises with a significant presence in the fashion and
entertainment industries may be potential competitors for celebrity licensing and
branding in the Saudi market.
PESTEL Analysis
•
A comprehensive analysis of the political, economic, social, technological,
environmental, and legal factors in KSA.
Purchase answer to see full
attachment
