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FROM BRANDING TO HERITAGE (5) - Coggle Diagram
FROM BRANDING TO HERITAGE
(5)
LONGEVITY AND TRAJECTORIES OF BRANDS
(1980S)
The rise of Conglomerates
Union of different companies operating in unrelated industries by acquisition (luxury, food, beverage is really strong)
New Marketing strategies
Companies have more financial and human resources to develop strategies
The globalization and liberalization of markets
Competition in the world's major markets (more brands)
GLOBAL BRANDS
Brands that become leader in their categories
Standard communication
They adapt more
LONGEVITY
ENTREPRENEURSHIP
Traditional
: creates the oroduct and the brand, focus on production, quality, continuity; single-brand firm (family owned)
Expanded
: reinvents existing brands through marketing strategies, storytelling; focus on the experiential value of the brand
GLOBAL BRANDS
Brands that become leader in their categories
Standard communication
They adapt more
Brand globalized after a change in ownership
Brands created by large multibrand firms
Founder-led brands
OWNERSHIP
Personality-centered
: who created the brands
Organization - centered: who adapt and change the brands for longlife success
LIFE OF BRANDS
Stage 1: Pragmatic, non-transferable knowledge
Dependence on the founder's ideas
Brand is local and rooted in culturally/geographically close markets
Stage 2:
Becoming international and entering new markets
Stronger marketing knowledge
Hire managers with capabilities
Stage 3:
Needing broader marketing capabilities and access to global markets
Strong entrepreneurial and organizational skills
HERITAGE and STORYTELLING
USED AS A MARKETING STRATEGY TO SURVIVE THE GLOBAL MARKET COMPETITION
Creating the
Social Idealization
by beign
unique
Heritage is
irreproducible
and has a
social value
Tangible Heritage
production sites, infrastructures
places used for social activities
Intangible Heritage
Skills and techniques
Ideas, values, symbols
Luxury brands draw on their
origins and history
to affirm
distinctive identity