Branding guru Mark Ritson says that founders are fundamental to a brand’s fortune because they have the brand in their bones.
- 'When a founder runs their own brand it can confer astonishing strategic advantages.'
- 'Time and again, they instinctively and instantly make the right decision.'
- 'The most powerful form of marketing communication occurs when a founder talks about their business. Suddenly consumers listen. Even more amazing, they believe.'
- 'Such is their power, that when the founder finally departs, dies or retires many brands struggle to retain their trajectory. A fact reflected in the 6% drop in Apple’s share price since the news of Steve Jobs’ departure was announced.'
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Steve Jobs
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- 'There are many cases where a founder returns to their failing brand and resurrects it. Steve Jobs did it against all the odds in 1997 and Gabrielle “Coco” Chanel did it in 1963 and at the age of 70.'
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Coco Chanel
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On a not so side note, here is a break down of Apple’s iPhone profit margin, compiled by Mark Ritson and an example of top brands using extreme methods to make profits.
In what ways do you think this will change now that Steve Jobs is gone?
Google also announced a pretty huge management changeover, in this case from non-founder Eric Schmidt to co-founder Larry Page. Read more about this in Ritson’s article here.
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| Eric Schmidt |
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| Larry Page |
Ritson’s Brand Management program as part of the MBS Executive Series is filling up. Don’t miss out on the chance to learn from one of the top associate professors in marketing, an award winning columnist, and a consultant to some of the world’s biggest brands.
For more on his program, click here or contact Marianne Carollo at the Melbourne Business School +61 3 9349 8292 or m.carollo@mbs.edu
