Cambridge Business Association
A New Brand World
Book

A New Brand World

8 Principles for Achieving Brand Leadership in the 21st Century

Scott Bedbury and Stephen Fenichell
Penguin, 2003
First Edition: 2002
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Editorial Rating

9

Qualities

  • Innovative
  • Applicable

Recommendation

This pretty good book about brands and brand management is not as neat and orderly as the subtitle suggests - the so-called "8 principles" are rather vague meandering digressions. But the digressions are immensely entertaining and even educational. Learning how Nike and Starbucks handle marketing is quite worthwhile. Of course, the author oversimplifies, overpromises and overpromotes himself. But what do you expect of a marketing maven? The book’s big virtue is that it repeatedly reinforces the fact that brand building boils down to having the common sense to think first about what you are trying to accomplish, and then set about doing it without getting distracted. How simple to say, how hard to do. If you want to try, getAbstract says this is just the book for you to read over your morning cup of coffee from guess who.

Summary

Brand Awareness: Marketing Pyrite

Pyrite, a mineral commonly known as "fool’s gold," deceived many a sourdough. Its yellow glitter mocks the precious glow of gold. Brand awareness is a lot like pyrite - it looks a lot more valuable than it really is, and has fooled many a marketing manager. Few, if any, brands were ever as well known as Marlboro. Yet Marlboro’s brand awareness did not translate into sustainable pricing power. Marlboro built brand awareness, but it failed to keep improving its products and marketing. As a result, by the early 1990s, the Marlboro brand was neither relevant nor resonant. By contrast, consider Harley Davidson, which earned $600 million in 2000 from parts, accessories and general merchandise - a very healthy complement to its $2.2 billion in revenue from motorcycle sales. Harley Davidson allows customers to keep customizing their experience of the brand. Marlboro does not. The contrast between Harley Davidson and Marlboro underscores the importance of change. Product and marketing strategies have to change if brands are to survive. Brands that do not change become commodities, and commodities have no brand value.

Coffee, ironically, was...

About the Authors

Scott Bedbury, CEO of the consulting firm Brandstream, was senior vice president of marketing at Starbucks from 1995 to 1998. Prior to that he spent seven years heading advertising for Nike. Stephen Fenichell is the co-author or author of several business books, including Other People’s Money: The Rise and Fall of OPM Leasing Services and What Matter Most. He is also the author of Daughters at Risk: A Personal DES History.

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