Followers are the consumers who value a brand the most. Next are insiders who are somewhat critical to a brand. The author has linked the success of a brand with the cultural understanding of consumers while discussing the theory for the development of iconic brands. Douglas Holt has given some valuable suggestions for development of the branding strategy. The suggestions are based on the in-depth study of the historical records of some key iconic brands, such as, Harley-Davidson, BMW, and Coca Cola. One of the main points that Holt has raised in the book is that brands do not become icons by focusing only on the benefits and functions; rather the more important thing in this regard is to create a valuable place for the brand in the national culture. The author has come up with a new branding model named ‘cultural branding’. Cultural branding is a phenomenon that is applicable to a range of categories in which consumers adopt the use of products as things which can express their identities. Some prime examples of cultural branding are also discussed in the book that can be used to express consumer identity. Some of the main examples include famous places, politicians, musicians, cartoon characters, famous heroes and heroines, and sports stars. Apart from this, the author has asserted that companies need to follow hybrid strategies to create iconic brands, such as, Apple, Harley, and Coke. The author has given example of BMW, which is a renowned automobile company, by saying that the company focuses on cultural branding along with a conventional focus on quality reputation in order to remain on top. The author has given example of Budweiser advertising in the initial chapters to show the role of advertising and marketing in creating iconic brands. Advertising is the key to success of a product in any particular market. If a company succeeds in creating a positive image about its products in the mind of consumers, the ways towards forming an iconic brand becomes easier. To make a product an important part of the popular culture, companies need to develop and follow such marketing and advertising strategies that can set a high place for the brands in any particular society or culture. In the book, the author has proposed three key principles that validate the creation of an iconic brand. The first principle given by the author is that iconic brands are those which are able to deal with the severe contradictions in society. Iconic brands go beyond the functional benefits by grouping the collective desires of people of the society. Next principle is that iconic brands inject a sense of independence and strength in the mind of consumers. Such words are used in the ads that make a person escape from the realities of life. The last principle is that iconic brands work as status symbols for people. For example, a person owning a BMW car and wearing a Rolex watch is assumed top be a successful person in the society and that perception is usually same all over the world. These are the principles that are mentioned in the book by Douglas Holt that confirm the value of a brand as an iconic brand. The author has used the case studies of some of the most famous iconic brands to support the proposed principles regarding development of iconic brands. The main point raised in the book is that cultural understanding is the factor that plays the most vital role in building an iconic brand. Moreover, it is also
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DOUGLAS HOLT - HOW BRANDS BECOME ICONS [Your name goes here] [Your class name goes here] [Due date of the paper] How Brands Become Icons: The Principles of Cultural Branding This book is mainly about the value of cultural branding and the principles underlying this concept…
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