BOOK REVIEW
“HOW BRANDS BECOME ICONS”
AUTHOR: DOUGLAS B. HOLT
COURSE TITLE: BRAND MANAGEMENT
SUBMITTED TO: SIR KAMRAN SIDDIQUI
SUBMITTED BY: SHIZA JAVED
STUDENT ID: 2011-1-92-12783
SECTION: B
1. Are you proud of this assignment? Why? Why not?
Yes, I am very proud of this assignment. I personally really like some popular and successful brands like Coca Cola (tops my list of favorites) and have heard a lot about Volkswagen, Nike, Mountain Dew, Budweiser, ESPN. I know these brands and I know they are quite popular and I know that these are brands that everyone has heard of, these are brands that are almost everyone’s favorite but what I didn’t know was their success story and how these brands became big cultural icons. This book …show more content…
Harley-Davidson Company (HDC) story – On page 155, the story of HDC is discussed which is considered to be everyone’s favorite corporate turnaround story and managers can learn a lot from it. HDC was doing really well till 1953 and was the sole American motorcycle manufacturer in 1953 but in 1960s, Honda and Kawasaki entered and dominated the motorcycle market. HDC was bought by another company AMF and by 1980, HDC was on the verge of bankruptcy. It was then that the senior managers of HDC took over the company and turned the company around. This turnaround took place by making 2 changes: restoring the quality of product and getting close to the customer. Managers should listen carefully to the customer and corporate profits will follow.
4. Brand Manager as composer of the brand myth [page 219] – Brand managers must compose the brand myth that respond to society’s new cultural needs or else they lose the strategic direction of the brand.
All these practical implications are generalizable across the borders and culture because everywhere around the world these principles and practices can be used if managers want to build an iconic brand. This book introduces principles of cultural branding which managers can use to their advantage for building cultural iconic brands. How brands become icons is supposed to be a manual for brand managers all over the world to guide them how marketing efforts can be more …show more content…
On page 130, Figure 5-3, a graphic representation of how Volkswagen leverages cultural and political authority to reinvent its myth has been provided. In the United States, Volkswagen’s Beetle was one of the most influential iconic brands in 1970. Volkswagen adopted mind share advertising and abandoned its myth. Arnold Communications’ task was to find a way to recapture the strength of Volkswagen. Arnold was supposed to rethink the original myth so that it could address a new social change. Arnold leveraged the cultural and political authority.
2. On page 138, Figure 6-1 shows that brand loyalty is a product of the social network. Understanding this figure through the example of ESPN, in order to know about the drivers of ESPN’s brand loyalty, it first requires specifying what customers find valuable about the brand then identifying the mechanisms that maintain their loyalty over time.
3. On page 210, Figure 9-1 shows the Cultural Brand Management Process. It has been explained through the figure that in order to build an iconic brand, managers must assemble four kinds of Cultural knowledge. First we need to document the brand’s cultural and political authority, then identify the new cultural contradictions, immerse the brand team in populist worlds, and develop empathetic understanding of followers’ identity
“HOW BRANDS BECOME ICONS”
AUTHOR: DOUGLAS B. HOLT
COURSE TITLE: BRAND MANAGEMENT
SUBMITTED TO: SIR KAMRAN SIDDIQUI
SUBMITTED BY: SHIZA JAVED
STUDENT ID: 2011-1-92-12783
SECTION: B
1. Are you proud of this assignment? Why? Why not?
Yes, I am very proud of this assignment. I personally really like some popular and successful brands like Coca Cola (tops my list of favorites) and have heard a lot about Volkswagen, Nike, Mountain Dew, Budweiser, ESPN. I know these brands and I know they are quite popular and I know that these are brands that everyone has heard of, these are brands that are almost everyone’s favorite but what I didn’t know was their success story and how these brands became big cultural icons. This book …show more content…
Harley-Davidson Company (HDC) story – On page 155, the story of HDC is discussed which is considered to be everyone’s favorite corporate turnaround story and managers can learn a lot from it. HDC was doing really well till 1953 and was the sole American motorcycle manufacturer in 1953 but in 1960s, Honda and Kawasaki entered and dominated the motorcycle market. HDC was bought by another company AMF and by 1980, HDC was on the verge of bankruptcy. It was then that the senior managers of HDC took over the company and turned the company around. This turnaround took place by making 2 changes: restoring the quality of product and getting close to the customer. Managers should listen carefully to the customer and corporate profits will follow.
4. Brand Manager as composer of the brand myth [page 219] – Brand managers must compose the brand myth that respond to society’s new cultural needs or else they lose the strategic direction of the brand.
All these practical implications are generalizable across the borders and culture because everywhere around the world these principles and practices can be used if managers want to build an iconic brand. This book introduces principles of cultural branding which managers can use to their advantage for building cultural iconic brands. How brands become icons is supposed to be a manual for brand managers all over the world to guide them how marketing efforts can be more …show more content…
On page 130, Figure 5-3, a graphic representation of how Volkswagen leverages cultural and political authority to reinvent its myth has been provided. In the United States, Volkswagen’s Beetle was one of the most influential iconic brands in 1970. Volkswagen adopted mind share advertising and abandoned its myth. Arnold Communications’ task was to find a way to recapture the strength of Volkswagen. Arnold was supposed to rethink the original myth so that it could address a new social change. Arnold leveraged the cultural and political authority.
2. On page 138, Figure 6-1 shows that brand loyalty is a product of the social network. Understanding this figure through the example of ESPN, in order to know about the drivers of ESPN’s brand loyalty, it first requires specifying what customers find valuable about the brand then identifying the mechanisms that maintain their loyalty over time.
3. On page 210, Figure 9-1 shows the Cultural Brand Management Process. It has been explained through the figure that in order to build an iconic brand, managers must assemble four kinds of Cultural knowledge. First we need to document the brand’s cultural and political authority, then identify the new cultural contradictions, immerse the brand team in populist worlds, and develop empathetic understanding of followers’ identity