October 23, 2007
Is ‘Cool’ the Best Brand Accolade?
By Bernice Hurst, Managing Director, Fine Food Network
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.
BrainTrust
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I seems to me that “cool” brands typically have no significant me-too competition. It’s awfully tough to be unique, profitable, and well-known simultaneously, particularly in retailing, where the copycats are fast and agile.
Cool is hard to define and it changes with time and each generation. Sometimes cool becomes classic and other times cool ends up in the “what were they thinking” file. One attribute missing from the list which is likely to grow in importance is greenness, especially with younger people. The Aston Martin is cool (but really, how many of them do you see?), but the Smart Car will be cooler when it’s launched in the U.S. Green will be the new cool.
Frankly, every one of the items listed in the survey can drive “cool factor” but one that is missing in the survey (but not the Query) is “solves a driving need or desire that no one else does.” Google has based most of their development on this…they figure out what people want, give it to them, and then figure out how to profit from them. Inventors have relied on this for years and we could all start making lists of innovative products and services that are rooted in this.
On the other hand, we as retail people are always trying to expose stuff to people to create lust for something that they have no real need for. Where does that lust come from? In my opinion, many of them are rooted in the the social factors and trends that are defining what’s cool by each demographic/psychographic “tribe.”
The ticket for both is to figure out what’s going to strike either a needs-based or lust-based desire in our consumers, serve it up at every touch point in a positive manner and stay dedicated to staying the bleeding edge. And, look at the innovative brands called out for strategic “how to” inspiration. As Bernice notes, this is a world of changing needs so we need to stay firmly ahead of those needs to be successful!
Cool is trendy and that’s just fine,
But the highest accolade for a brand is “mine.”
It seems to me that “cool’ brands are those brands that have carved out a dominant position at the cutting edge of product adoption. They are the pioneers of new technologies, products and services. Their name becomes synonymous with the segment they dominate, much like Kleenex, the classic example.
These brands project an image and significance far beyond just the product or service they offer. They become an integral part of the lifestyle and attitude of early adopters, in a way that spreads throughout, until they become embedded in the culture itself.
The Beatles and Virgin Records/Atlantic were the last two major (cool) brands emanating from the U.K. Perhaps Tesco (a little), a few other pop/rock groups, and a couple of beers could also qualify. There’s also bad food and irrelevant tabloid news of the Royals. So, for comments on “cool” to come from the U.K. is gently jocular. (I would never, ever use the term “laughably ludicrous.” Trust me on this.)
“Cool” is a wonderful accolade or label, but it must be from a reliable source. (My reliable source was Grace Ann Dexter in high school. Thanks, Grace Ann, for referring to me as “cool.”) Besides an endorsement from Grace Ann, “cool” depends on our personal paradigms. Some of us determine what is cool for ourselves, but most depend on others to tell them (entertainment critics, fashion magazines, peer groups, forums, blogs, etc.). After all, who can explain the overweight girls squeezing into hip-hugger jeans, cropped tops exposing their midriffs, with excess bulges appearing here and there? Why would they do that to themselves if they had any self-sense of cool? And, why doesn’t anyone tell them?
“Cool” is both innate and learned. We have all had our “cool” moments that came from within. But to learn “cool,” we have to possess the right antennae. We’ve all been exposed to others’ cool moments during which we could decide for ourselves depending on our receptivity. My first exposure to Pink Floyd’s “Money” from “Dark Side Of The Moon” was from an 8-track player in a buddy’s car in the middle of a substance-addled night. He warned me that it was cool, and I knew instantly that he was right. On another occasion, a different friend advised me that burgundy polyester leisure suits with a “full-Cleveland” were cool. My receptors were cool to the idea. (A “full-Cleveland” is a white belt with white shoes. A “half-Cleveland” is either the belt or shoes by themselves. Admit it, you were curious.)
Cool American brands include Apple, Corvette, Sperry Topsiders, DirecTV, Spielberg, Barcalounger, Nordstrom’s, NIV, Elvis, Ghirardelli, Anchor Steam, Bose, Ben & Jerry’s, Marilyn Monroe, Mrs. Fields, and countless others. America is the fountainhead of cool. After all, this is where the term originated.
Funny not to see Chipotle on the list as they are clearly one of the coolest brands out there. Reason? Same reason given for most ‘cool’ brands; NEVER SELLING OUT. Always remaining true to their core idea, which for Chipotle is simple, high-quality, great tasting food in an ‘easy’ environment…and they haven’t varied.
I also think that the “founder” factor contributes a lot to this lack of sell out. Think of all the cool brands and how many of their founders are still on board in some way providing influence and clear, brand-right thinking.
The organization that evaluates their definition of “cool” invariably leaves out the other factors that some may consider very appropriate. A British organization would invariably consider an Aston Martin cool, but more cool than a Ferrari or Lamborghini? How do any of these fit into the “cool” factor compared to a 100 inch Plasma? The audience determines the “Cool” factor here and the relative comparative measure is more social than corporate. One social circle considers elite German cars far above those Italian cars, where others might consider this the opposite. Mark Twain said it best when he said there were “lies, damn lies and statistics.” This also applies to how we measure the cool factor, and what influence it has in marketing a product.
Two words I omitted and Ben alluded to are “perceived exclusivity.” Cool brands are something special to each of us and are things that make us special in the eyes of others if we have it and they don’t.
Aston Martin–great choice. The epitome of cool ever since James Bond slipped into the driver’s seat.
I don’t think there is one definition of cool. But if you had to come up with something, cool is something everyone wants but few can have. Eighty years after their inception, brands like Chanel and Cartier are cool. Breitling, classic Jaguars (the XKE, a 1966 Shelby Cobra 427, Harrods, Harvey Nichols.
Come to think of it, so is Target and Starbucks for many consumers. It seems I’ve negated my own definition. Maybe cool is simply whatever you think it is.
I think the comments above get it right that “cool” seems to be a great idea with no “me-too” competition. (Great way of describing it!) I think, however, “cool” has been overused too much and is becoming less trendy in the land of lexicon. There are “cool” references in the media, mainstream and otherwise, and it really makes me stop and think whether I really agree with all of these references.
Its obviously very subjective, and hard to use unless in the company of like-minded individuals. Marketers, are you paying attention?
Being one of the ‘cool’ brands is quite an honor, I’m sure, but it also would be a tag that is extremely hard to maintain. Considering that there are lots of upstart products and services that are willing to earn a cool reputation by being different that the typical, how does one maintain their edge once they become popular or mainstream? That’s tough!
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I seems to me that “cool” brands typically have no significant me-too competition. It’s awfully tough to be unique, profitable, and well-known simultaneously, particularly in retailing, where the copycats are fast and agile.
Cool is hard to define and it changes with time and each generation. Sometimes cool becomes classic and other times cool ends up in the “what were they thinking” file. One attribute missing from the list which is likely to grow in importance is greenness, especially with younger people. The Aston Martin is cool (but really, how many of them do you see?), but the Smart Car will be cooler when it’s launched in the U.S. Green will be the new cool.
Frankly, every one of the items listed in the survey can drive “cool factor” but one that is missing in the survey (but not the Query) is “solves a driving need or desire that no one else does.” Google has based most of their development on this…they figure out what people want, give it to them, and then figure out how to profit from them. Inventors have relied on this for years and we could all start making lists of innovative products and services that are rooted in this.
On the other hand, we as retail people are always trying to expose stuff to people to create lust for something that they have no real need for. Where does that lust come from? In my opinion, many of them are rooted in the the social factors and trends that are defining what’s cool by each demographic/psychographic “tribe.”
The ticket for both is to figure out what’s going to strike either a needs-based or lust-based desire in our consumers, serve it up at every touch point in a positive manner and stay dedicated to staying the bleeding edge. And, look at the innovative brands called out for strategic “how to” inspiration. As Bernice notes, this is a world of changing needs so we need to stay firmly ahead of those needs to be successful!
Cool is trendy and that’s just fine,
But the highest accolade for a brand is “mine.”
It seems to me that “cool’ brands are those brands that have carved out a dominant position at the cutting edge of product adoption. They are the pioneers of new technologies, products and services. Their name becomes synonymous with the segment they dominate, much like Kleenex, the classic example.
These brands project an image and significance far beyond just the product or service they offer. They become an integral part of the lifestyle and attitude of early adopters, in a way that spreads throughout, until they become embedded in the culture itself.
The Beatles and Virgin Records/Atlantic were the last two major (cool) brands emanating from the U.K. Perhaps Tesco (a little), a few other pop/rock groups, and a couple of beers could also qualify. There’s also bad food and irrelevant tabloid news of the Royals. So, for comments on “cool” to come from the U.K. is gently jocular. (I would never, ever use the term “laughably ludicrous.” Trust me on this.)
“Cool” is a wonderful accolade or label, but it must be from a reliable source. (My reliable source was Grace Ann Dexter in high school. Thanks, Grace Ann, for referring to me as “cool.”) Besides an endorsement from Grace Ann, “cool” depends on our personal paradigms. Some of us determine what is cool for ourselves, but most depend on others to tell them (entertainment critics, fashion magazines, peer groups, forums, blogs, etc.). After all, who can explain the overweight girls squeezing into hip-hugger jeans, cropped tops exposing their midriffs, with excess bulges appearing here and there? Why would they do that to themselves if they had any self-sense of cool? And, why doesn’t anyone tell them?
“Cool” is both innate and learned. We have all had our “cool” moments that came from within. But to learn “cool,” we have to possess the right antennae. We’ve all been exposed to others’ cool moments during which we could decide for ourselves depending on our receptivity. My first exposure to Pink Floyd’s “Money” from “Dark Side Of The Moon” was from an 8-track player in a buddy’s car in the middle of a substance-addled night. He warned me that it was cool, and I knew instantly that he was right. On another occasion, a different friend advised me that burgundy polyester leisure suits with a “full-Cleveland” were cool. My receptors were cool to the idea. (A “full-Cleveland” is a white belt with white shoes. A “half-Cleveland” is either the belt or shoes by themselves. Admit it, you were curious.)
Cool American brands include Apple, Corvette, Sperry Topsiders, DirecTV, Spielberg, Barcalounger, Nordstrom’s, NIV, Elvis, Ghirardelli, Anchor Steam, Bose, Ben & Jerry’s, Marilyn Monroe, Mrs. Fields, and countless others. America is the fountainhead of cool. After all, this is where the term originated.
Funny not to see Chipotle on the list as they are clearly one of the coolest brands out there. Reason? Same reason given for most ‘cool’ brands; NEVER SELLING OUT. Always remaining true to their core idea, which for Chipotle is simple, high-quality, great tasting food in an ‘easy’ environment…and they haven’t varied.
I also think that the “founder” factor contributes a lot to this lack of sell out. Think of all the cool brands and how many of their founders are still on board in some way providing influence and clear, brand-right thinking.
The organization that evaluates their definition of “cool” invariably leaves out the other factors that some may consider very appropriate. A British organization would invariably consider an Aston Martin cool, but more cool than a Ferrari or Lamborghini? How do any of these fit into the “cool” factor compared to a 100 inch Plasma? The audience determines the “Cool” factor here and the relative comparative measure is more social than corporate. One social circle considers elite German cars far above those Italian cars, where others might consider this the opposite. Mark Twain said it best when he said there were “lies, damn lies and statistics.” This also applies to how we measure the cool factor, and what influence it has in marketing a product.
Two words I omitted and Ben alluded to are “perceived exclusivity.” Cool brands are something special to each of us and are things that make us special in the eyes of others if we have it and they don’t.
Aston Martin–great choice. The epitome of cool ever since James Bond slipped into the driver’s seat.
I don’t think there is one definition of cool. But if you had to come up with something, cool is something everyone wants but few can have. Eighty years after their inception, brands like Chanel and Cartier are cool. Breitling, classic Jaguars (the XKE, a 1966 Shelby Cobra 427, Harrods, Harvey Nichols.
Come to think of it, so is Target and Starbucks for many consumers. It seems I’ve negated my own definition. Maybe cool is simply whatever you think it is.
I think the comments above get it right that “cool” seems to be a great idea with no “me-too” competition. (Great way of describing it!) I think, however, “cool” has been overused too much and is becoming less trendy in the land of lexicon. There are “cool” references in the media, mainstream and otherwise, and it really makes me stop and think whether I really agree with all of these references.
Its obviously very subjective, and hard to use unless in the company of like-minded individuals. Marketers, are you paying attention?
Being one of the ‘cool’ brands is quite an honor, I’m sure, but it also would be a tag that is extremely hard to maintain. Considering that there are lots of upstart products and services that are willing to earn a cool reputation by being different that the typical, how does one maintain their edge once they become popular or mainstream? That’s tough!