CAROLINE. Ever heard the name? A student advertising freelancer. (Still no clue). It was Caroline who designed Nike’s SWOOSH logo for $35 in 1971. (Today you will have to pay a little more than that to buy the swoosh on a pair of ordinary Nike sneakers.)
Time ushers change and change requires the old to be replaced by the new. Business is no different; it has witnessed a fair share of evolution. Once upon a time, the quest was for everything tangible. Cash, real estate, machinery, inventory, investments were the means of defining the strength of a company.Today, wealth resides in the intangible. Companies spend millions to maintain their priceless goodwill, patents and most importantly, their irreplaceable BRANDS. You have just seen Nike’s humble beginning; now let us look at THE Nike which we are more familiar with.
Today Nike’s brand value alone is more than 10 million dollars and without doubt its greatest asset is its logo. Scientifically it has been proven that the swoosh is more than just a feel good factor, it has the ability to light up your brain! ( had caroline known all this, would she have asked for a little more than the anonymity that she ultimately got.)
How many of us aware of the people behind successful companies? While, how many of us cannot identify the big brands which make these companies important? The answers of these two questions in a subtle way state—
Brands have become such a major economic force in the global economy that they have become more important than the very firms which sustain them. They have become the means of delivering market value, shareholder wealth, livelihood, prosperity and culture. You think I am overrating them? Read on.
WOULD a woman who enters a Louis Vuitton / Chanel store be willing to purchase its uber exclusive hand bags at the ever so reasonable price of 50,000 Rupees, IF (and I should underline it), if you were to completely STRIP the brand off the product? Nokia sells in India, as if the phones were being distributed for free. Do you know why? The answer is simple— because its nokia.
No answer will make less sense, and at the same time, no other answer can make such perfect sense (it merely depends on your point of view). You must understand that when we Indians purchase luxury goods (be it cell phones or apparel), it is not the product that we seek; rather it is the value that the product adds to us that we try to find. And the aura around the nokia brand is so much so that Indians are simply mesmerized by it.
This was merely a glimpse into the astonishingly persuasive world of brands. And that brings me to my next question—- How did all this exactly happen? Patience. Ingenuity. And most importantly–an alliance which was about to shape the world as we know it today. We know them as very dear friends, the perfect complements, brands and marketing.
It has been this alliance that has resulted in prosperity beyond possibility. Today, together they...