The Nobel Prize: A 'Heritage-based' Brand-oriented Network

Mats  Urde; Stephen A. Greyser

Working Paper | HBS Working Paper Series | 2014

The Nobel Prize: A 'Heritage-based' Brand-oriented Network

Abstract

Purpose — Understanding the Nobel Prize as a 'true' heritage brand in a networked situation and its management challenges, especially regarding identity and reputation.

Methodology — The Nobel Prize serves as an in-depth case study and is analysed within an extended corporate brand identity framework that incorporates reputation.

Findings — The Nobel Prize is a 'true' corporate heritage brand (in this case, organizational brand). It is the 'hub' of a linked network of brands—"a federated republic". The brand core of the Nobel Prize is its set of core values supporting and leading to its promise; "for the benefit of mankind". The core constitutes a hub around which the essential award-granting institutions, as well as the Nobel Foundation and other related entities and stakeholders gravitate. The laureates represent the Nobel Prize track record. The Will of Alfred Nobel, described as "The Nobel Prize federation's constitution" is interpreted by us as indicating a brand-oriented approach within a network of interrelated institutions and organisations.

Research implications — The concept of 'brand-oriented networks' is introduced. An individual organisation's approach to its marketplace, brand-resources and strategy may to varying degrees be brand-oriented. This study suggests that brand-orientation also applies to a network of brands. Separately, the extended version of the "corporate brand identity matrix" provides a corporate brand framework for identity and reputation management, including networked brands.

Practical implications — The new extended framework and the definition of a brand network with a 'hub' provide logic for managing the network. Essential managerial questions on how to leverage brand heritage or not are placed in perspective. Identifying and understanding one's brand heritage and the importance of brand stewardship are reinforced.

Suggestions for further research — The investigation of brand networks (market-oriented and/or brand oriented) and the application of the new "Corporate Brand Identity and Reputation Matrix".

Originality / Value — The first case study of the Nobel Prize from a strategic brand management perspective. The articulation and characterisation of it as a 'brand-oriented network'. The development and application of the new CBIRM.

Keywords: Nobel Prize; heritage brand; brand network; networked brand; brand within a network; brand orientation; brand stewardship; corporate brand identity; reputation; Networks; Organizations; Philanthropy and Charitable Giving; Brands and Branding;

Language: English

Format: Print

52 pages

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Citation:

Urde, Mats, and Stephen A. Greyser. "The Nobel Prize: A 'Heritage-based' Brand-oriented Network." Harvard Business School Working Paper, No. 15-010, August 2014.

Case | HBS Case Collection | May 2020

Big Boom Beverages: Fight or Flight?

Stephen A. Greyser and William Ellet

Four college friends market a beverage that combines ingredients like those in a drink they consumed in college bars. It includes a caffeinated energy drink, malt liquor, and a soft drink flavoring. They launch the business, Big Boom Beverages (BBB), with their own money and funds from friends and family members. Their initial product sells reasonably well, but not enough to remain profitable. When they introduce a reformulated product, Totaled, its social media presence explodes. Young consumers upload many videos to YouTube that record the impacts of consuming large quantities of Totaled that earn millions of views. Totaled becomes a star brand on social media and sales skyrocket. The company is inundated with distribution requests. The founders see success looming. As sales of Totaled and similar products increase, so do reports of binge drinking and its negative consequences. Emergency room doctors and public health officials express concern about the combination of high levels of alcohol and caffeine in these products. Rapidly expanding distribution of the beverage through convenience stores gives underage drinkers easier access to the beverage. All these factors attract national media coverage. The founders are unprepared to deal with the bad reputation their product is gaining and regulatory and public-relations crisis they face. As the case ends, they are deciding how to respond. "Big Boom Beverages: Fight or Flight?" can be used with undergraduate and MBA courses in entrepreneurship, marketing, business ethics, corporate social responsibility, general management, and public health.

Keywords: alcoholic beverages; energy drinks; regulation; Entrepreneurship; Ethics; Marketing Communications; Corporate Social Responsibility and Impact; Reputation; Communication Strategy; Decision Making;

Citation:

Greyser, Stephen A., and William Ellet. "Big Boom Beverages: Fight or Flight?" Harvard Business School Brief Case 920-557, May 2020. View Details

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Teaching Note for HBS Brief Case No. 920-557. The case addresses analysis and decisions related to the entrepreneurial life of a distinctive energy beverage, including its niche market launch, early problems, reformulation, social media impact, market success, and public policy/ethics challenges—as well as the three co-founders' approaches to management and decision making. Ultimately, the partners must opt for "fight or flight." The extensive Teaching Note encompasses two alternative discussion plans, one focused on the ultimate decision (fight/flight/compromise), and the other following the case facts, analysis, and decisions over time. The elements of market entry, competition, product modifications, communications strategy, regulatory challenges, and management decision-making are all treated. Key topics and study questions assist instructors in course selection for the case and student assignments.

This chapter presents and interprets two field-based studies of sponsorship collaborations between major museums and significant financial institutions—a global multi-year partnership between the Guggenheim Foundation and UBS, and the pioneering regional integrated sponsorship program between the Museum of Fine Arts, Boston and the Fleet Bank (subsequently part of Bank of America) for the “Monet in the 20th century” exhibition in 1998. The studies offer insights on the rationale (as well as non-objectives) and implementation of the sponsorships and explore critical elements of resource integration in terms of complementary resource mobilization and internal integration.

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