Programa de continuidad | Spanish
NEW DATE. Originally scheduled for October 18th, this event will finally take place on January 30th.
ESADE Alumni’s latest talk in the Refresher Programme series was “I want this brand! How to build desirable brands and remain a market leader, by Oriol Iglesias (Lic&MBA 98 / PhD 06), associate professor in ESADE’s marketing management department.
Having a desirable brand is the secret to differentiating oneself from the competition. This is the main concept of the book ¡Quiero este marca! by Oriol Iglesias and Nicholas Ind. The idea arose from several market surveys for which they held a series of workshops in Nuremberg, Paris, London, New York and Barcelona with more than 800 different types of brands and 30 interviews of influential people, such as Adidas CEO and Ferran Adrià.
On the basis of the results obtained, they evaluated how brand value is created. It requires, on the one hand, brand pressure leverage based on investment to achieve market penetration, adspend and price promotions to become a market leader. On the other hand, brand desire leverage must be used to connect emotionally with users and give them a sense of belonging. “In this way, a company that manages to use both forms of leverage equally can achieve steady, sustainable growth, said Iglesias.
The professor explained that a desirable brand originates in the sources of desire: social identity, relevant meanings, authenticity, sensuality and surprise. Iglesias explained that the first thing to do is to create a group of loyal customers to interact with and make contact with their lifestyle. In this way, on the basis of the company’s history and identity and also by keeping one’s promises, trust and reliability can be achieved. “In other words, real, meaningful value can be created. The famous red leather Hermès handbag, for example, is one of the most sought after bags on the market because Grace Kelly used it – which is why it is called the Kelly bag. A story more than one hundred years old that endows an object with meaning and personality. In addition, the company uses fine materials and occasionally launches limited editions. All this makes the Hermès handbag a desired brand. There is a two-year waiting list for potential buyers and it costs €3,000, said the speaker.
The creation of a desirable brand is based on five pillars: customer experience, storytelling, in-house corporate culture, co-creation and principles. “Having very solid principles enables us to grow with a greater focus on values, said Iglesias. This makes it necessary to sell off lines of business that do not tally with such values and cause a lack of credibility, and invest in lines of business that offer opportunities.
Storybuilding entails building a brand narrative on the basis of personalisation, simplicity and immediacy. One example is Asics which analyses its customers’ tread to find the most suitable shoe.
As for co-creation, Iglesias explained that the company must open up and seek the cooperation of other partners. The management must foster principles such as opening up to external influences and clients in order to become more innovative, whilst respecting the company’s identity. One must also try to forge links with the community and, at the same time, create surprises. One danger is when the brand is watered down and loses its identity. It is, therefore, important to ensure a continuity of values within this approach. Iglesias wound up his talk by saying, “We must keep track of what happens outside if we want to remain relevant and innovative.
Each member may bring a maximum of one guest.
See you there!
How to get to ESADE:
Public transport: Bus (22, 64, 78, 63 and 75), Metro (L3 Maria Cristina) and FGC (L6 Reina Elisenda).
Car: NEW municipal parking B: SM in c / Marqués de Mulhacen, 51.
For further information:
esadealumni@esade.edu