Corporate Brands With A Heritage
Corporate Brands With A Heritage
Corporate Brands With A Heritage
WITH A HERITAGE
ABSTRACT
This paper articulates a concept of heritage brands,
based primarily on fi eld case research and studies of
practice
A heritage brand is one with a positioning and value
proposition based on its heritage
They describe how to identify the heritage that may
reside in a brand and how to nurture, maintain and
protect it, particularly through the management
mindset of brand stewardship to generate stronger
corporate marketing.
CORPORATE MARKETING
O v e r the l a st de ca de, a signifi ca nt shi ft of e m pha sis se em s t o
ha ve oc c u rre d in te rm s of bot h m a r ket ing sc hola r sh i p a n d
m a na gem e nt pr a ct ic e, a s m ore a tte ntio n is being pa id t o
o rga niz a ti on s bey on d t he ir produc ts a nd ser v ic es.
Ba lm e r c a l ls t h is a re a c or por a te m a r ket ing, a nd i n tro du c ed a
c or por a te m a r ket in g m i x c onsi sti ng of t e n el em en t s (T he 1 0 Ps of
C or por a te m a r ket in g). Re ce ntly refi ned to 6
T he six ele m en t s a re
c or por a te ide nt it y (c ha r a ct er ) ,
c or por a te co m m u ni c a ti ons (c om m uni ca tions) ,
sta ke holder s (c on stit uenc ie s) ,
c ov e na nt ( co r po r a te br a nd prom ise ),
c or por a te im a ge a n d re puta t ion (c once pt ua l isa t ion )
o rga nisa ti on a l cu l tu re s (c ult ure ).
RESEARCH METHODOLOGY
Searched for brands with heritage and also people
with experience in managing such brands.
In total, we have explored the heritage of more than
20 brands in a multiple-case design. Volvo, IKEA, BBC,
Jaguar, IBM, SEB (Wallen- berg Bank) and Patek
Phillipe are in- depth case studies, while the other
brands such as Bentley have served as illustrations.
Conducted more than 30 one- to-three-hour
interviews with executives experienced in being
stewards of brands with a heritage or heritage
brands.
DEFINING A BRANDS HQ
Here are fi ve major elements that indicate whether
and how much heritage may be present or potentially
found in a brand.
BENEFITS OF HERITAGE
Heritage can provide a basis for distinctiveness in
positioning, which can generate competitive advantage
E.G translating into higher prices and margins, and
retaining customers to whom heritage is meaningful.
Heritage can add to the brands value proposition with
depth, authenticity, and credibility for the customer/
consumer.
Heritage can help build a special relationship with a
range of non- customer stakeholders
An example is gaining support for the company in diffi cult
times such as a sudden product problem for which the
company was not responsible.
A SENSE OF RESPONSIBILITY
An omnipresent sense of responsibility for the brand
is the broadest dimension of stewardship cited in
interviews
Erik Belfrage, long-time personal advisor to the
Wallenberg family: The brand is bigger than you
are? Well, this is true for all of us in this house [fi rm].
The Wallenbergs themselves are the brand.We need
to be very careful handling the brand and our
heritage (March 2006).
LONG-TERM CONTINUITY
When you are assigned to the responsibility for a
brand ... you have become part of a long process. You
treat what has been done before with respect, and
you want to leave an even stronger brand to the
person who comes after you Luic Tassel, Marketing
manager, Procter & Gamble (August 1997).
Beyond continuity alone is the search for continued
improvement. Patek Philippes Director of public
relations Jasmina Steele described this
baton pass aspect of stewardship: Each generation
brings something to the brand. Without handing on
knowledge and tradition we would have to start the
brand all over again (January 2007).
ADAPTABILITY
Despite the importance of safeguarding brand
heritage, stewardship does not mean inaction or
discouraging change.
On the contrary, adaptability is a very important
element of stewardship. People with fresh ideas
should have the opportunity to under- stand and
share insights on what the company is all about.
Indeed, sometimes one needs to change in order to
stay the same.
Example
modifying the product or its positioning without
aff ecting the underlying values of the brand meaning.
CONCLUSION
A BRAND WITH A HERITAGE HAS A STORY TO TELL
Brand heritage is an often unrecognized and
frequently under tapped corporate asset.
The process is to uncover, to extract, to protect and
to nurture the value of a companys or organisations
brand heritage.
We believe heritage brand stewardship is an
important vehicle for companies to protect their
heritage and foster a heritage-oriented mindset.
Heritage is and can be a vibrant part of how
companies think about themselves and the values
they off er their stakeholders.
THANK YOU