Posted in Marketing & Strategy Articles, Total Reads: 701
, Published on 23 February 2016
Every brilliant individual on this earth aspire to see himself/herself as a Nobel Laureate. Superficially we all know what a Nobel Prize is and how it portrays a personality to all new level. But a very few know how it does. The coveted Nobel Prize has reached this elevated position over the years. A brief on how it branded itself.
Brand heritage is defined as an identify of a brand which is found in its core values, long history, track record and special symbols which speaks for the organization.
The Nobel Prize, even though not a corporate brand has a rich “heritage quotient”. The following are the elements that contributed to its rich heritage.
1) History attached: The Nobel Prizes are awarded in the name of Alfred Nobel (1833-1896), a Swedish inventor. The Prizes are awarded to the few who have contributed the greatest benefit to the humankind. The core here is the will of Alfred Nobel. That is why the prize winners refer to “The Will” with the symbol ‘W’. At first place the awards were given in the areas of Medicine, Peace, Literature, Physics, and Chemistry. But later in 1968 Economics Sciences was also added to the list. In spite of that the brand image was not dissolved because the later also focused in honoring the benefit of mankind.
2) Longevity: The prizes were awarded from 1901. This made a great impression because it started in times when nationalism was strong in all countries. French, Germany, Italy all were so nationalistic because of ongoing wars that time. With the good will it was made clear that the prizes were for achievements, which benefitted mankind, anywhere. They are not restricted to only Scandinavia or Sweden or Europe even.
3) Symbols: The Nobel Prize involves lots of symbols both tangible and intangible. The award is presented by Scandinavian monarch and greeted with the traditional flowers from San Remo, Italy, where Alfred spent last days of his life. And also there is a traditional phone call to each winner on the morning of prize ceremony.
4) Track record: Since 1901 this prize has been awarded to 900 people and organizations. Each Laureate adds a new feather to its crown with every benefit conferred to the humankind.
5) Core values: The core value lies in the will. The essence of awarding the one who pays back to society is the center of Nobel Prize.
A NETWORKED BRAND
The brand or heritage identity is created by the network of brands associated with it. For example Airbus, which began as a group of independent European firms, challenged the likes of Boeing, Lockheed and other alike. In similar way Nobel Prize partially got the recognition with the network of brands involved. The Literature laureates’ are chosen by Swedish Academy. Prizes in Physics and Chemistry are chosen by Royal Swedish Academy of Sciences and Karolinska institute choses prize winner for Medicine. And Peace prize is awarded by Norwegian Nobel Committee. All the organizations are the rich in their own way and some are even older than Nobel Prize. The underlying thing here is that, when different organizations with their own identity, richness come together and make the Noble Prize happen, the richness gets added, which on a whole gives the best picture possible. Not exaggerating, there is no Nobel Laureate, who when he/she dies, without having his/her first line describing “ HIDDEN, who won Nobel Prize for his work in BLANK”. Such is the value attributed to Nobel Prize.
In similar way the concept of building a heritage to any corporate brand depends on core values of organization, track record, symbols attached and thwarting all pressures in its run. There are many corporate brands which have built heritage for over a century and they are the ones that remain in consumers’ heart.
This article has been authored by Naveen Kadiyam from DMS,IITD