"Traditional values in a modern setting"
June 12th, 2011 | Posted in Uncategorized
John Prescott is an unlikely brand and marketing expert, but I find myself often quoting his definition of New Labour (see above) as a way of explaining what all British institutions need to do to survive.
This morning during the newspaper review on Murnaghan there was a discussion about the current popularity of the Royal Family and Gyles Brandreth (another unlikely brand expert until you remember his success with knitted jumpers) said the Royal Family had shown “brand consistency” and therefore enjoyed “brand loyalty”. Dermot Murnaghan then quipped, (because Sir Stuart Rose ex-Chairman & CEO of M&S was also in the studio reviewing the papers): “just like Marks & Spencer!”
And he was absolutely right. Indeed it’s precisely because Marks & Spencer and the Royal Family have followed the Prescott and Brandreth approach to brand strategy that they have not just survived but are thriving.
All other long-established British institutions struggling with modernity need to do exactly the same.