Abstract
The bubble appears to have burst in high-tech stocks — or at the very least has deflated. Investors seem to be returning to the safe long-term bets of the old-economy companies. This correction in the market is an ideal opportunity to review what has been happening to those companies that have been establishing themselves on the Net.
This paper takes a look at what lessons the new economy can learn from the old, and also how the Internet is fundamentally changing how companies manage their brands. The basic premise is that on the Internet the brand itself must be at the heart of the business strategy. The emphasis shifts from brand to ‘branded experience’, and becomes an issue for the whole company. The key principles of how to develop your brand remain the same, but the need for speed means that how you manage it will change forever.
This paper draws on the authors' extensive experience of building brands online and offline, and of aligning/integrating internal values and behaviours with external manifestation of the brand.
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1co-founded the lab after almost 20 years of experience of working on strategic, planning and marketing issues. She has worked as an inner city business adviser, a health facilities management consultant, and a strategic planning director in a communications agency prior to specialising in brand strategy, organisation and communications. In recent months she has researched the developing e-commerce marketplace and has been focusing on bringing commercial and marketing disciplines to bear on the new online world.
2has 18 years of client-side experience in developing and implementing service brand strategies with blue-chip companies. As head of brand strategy at NatWest she led the brand work stream within a complete overhaul of the group's direction, developing the new brand strategy, internal staff mobilisation and advertising and promotional programmes. In 1999 she moved to management consulting, initially within NatWest, where she developed the customer proposition and media launch programme for NatWest's Internet bank. She now specialises in bringing the disciplines of conventional marketing to bear on dot.com developments — identifying and delivering cohesive external and internal strategies, activities and staff behaviours to achieve consistent, branded customer service. She regularly lectures on brands and organisational development across Europe.
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Rubinstein, H., Griffiths, C. Branding matters more on the Internet. J Brand Manag 8, 394–404 (2001). https://doi.org/10.1057/palgrave.bm.2540039
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DOI: https://doi.org/10.1057/palgrave.bm.2540039