Is 'Cool' the Best Brand Accolade?
Superbrands, which describes itself as an "international organization tasked with identifying best practice in brand management" has just announced the results of its third annual CoolBrands research to come up with the "coolest" brands.
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The Coolbrands report is based on a YouGov survey of more than 2000 members of the British public and the Coolbrands Council consisting of advertising executives, journalists and fashion designers among others. Explaining that previously the strongest brands were "invariably large, established names," the company decided that other "dynamic and interesting" brands were being overlooked.
Of those making the top 20 list, 50 percent were in the online, technology or gaming categories. These included Google, eBay, Amazon and Playstation. One company counted three brands - Apple, iPod and iTunes. Aston Martin, which was number one last year, retained its position this year. Other luxe-type purchases, such as Danish home electronics group Bang & Olufsen, lingerie maker Agent Provacateur, Ducati, Rolex, Prada. Virgin Atlantic, chocolate purveyor Green & Black's and the Tate Modern museum, also made the list.
Stephen Cheliotis, chairman of the CoolBrands Council, said that the top 20 reflect "changing needs, wants and interests... You could argue that it is split into two pretty clearly defined categories. On the one hand things can become cool by virtue of their necessity or prevalence in your life, like Google or Amazon. On the other, the things you really want but may know you will never get - like a Rolex or a Ferrari - are considered just as cool."
"Cool is not an easily definable formula - if it were every brand would be trying to harness and replicate that formula," said Lee Farrant, CoolBrands Council member and partner at RPM, a British marketing agency. "It is elusive but you know it when you see it."
Discussion questions: What criteria would you use to define "cool" and what value does it have for a brand? How has that criteria changed over the years? Which American brands best fit your criteria?
[Author's comment] This may or may not apply to American brands. Cool itself
may not even be a significant marketing angle or of importance to American
consumers. But if any group can form a Council to identify the next cool
wave, it would be RetailWire's BrainTrust and faithful contributors.
Let's hear what you think.