Arts & Entertainment, Business
Creating Brand Value
Lesson time 15:10 min
It goes without saying that the Disney brand is powerful. Bob explains why the brand needed to evolve while staying true to its core in order to stay relevant.
Students give MasterClass an average rating of 4.7 out of 5 stars
Topics include: Keeping a Brand Relevant • Reverence vs. Respect • Modernizing the Disney Princess • Maximizing Your Brand Across Businesses • How to Manage Your Brand
[HORN BLOWS] [MUSIC PLAYING] - When you create a brand, I think you have to immediately ask yourself the question, when I put that brand name on the product or when I say that brand name to a consumer, what does it convey? What are the specific values, the specific features, the specific brand attributes, that that consumer immediately thinks about or feels or wants when they hear that name? So when I-- if I had an ice cream company, and I put my name on a container of the ice cream, I want the consumer who sees that name on the ice cream container to immediately know something about the ice cream they're either about to buy, or they're about to eat. You know, a brand is also very, very important in terms of the price value proposition to a consumer. In today's world, the consumer's making many, many choices-- how to spend their time, how to spend their money. In many cases, because there's so much product out there, just the decision about what to do next, what to spend money on next, needs to be made very quickly. And what a brand can convey is in a sense what a product is so that a consumer has the ability to decide quickly whether to spend time or money on that, trusting that in doing so, they're going to derive value from that transaction. A strong brand is something that creates almost a chemical reaction in someone as soon as they hear that name or that brand name. If I say to you Disney, you know exactly what it is. There's a feeling inside you either because you've, you've consumed the brand in some form, or it's had an impact on your life. I could mention Nike. I could mention Apple. I could list a number of them. And you immediately have a visceral feeling about it. What that says is that a strong brand is something that is very identifiable in terms of its qualities, its attributes, its values, what it stands for. The beauty of Disney is a lot of the stories that we tell are evergreen in nature, meaning they have relevance to generation after generation after generation. I tell a story about being taken to the movies when I was four or five years old to see "Cinderella." And just this last Christmas, I watched the same movie with two of my grandchildren. That's five generations of one family that watched the same Disney movie and enjoyed it. That's what I mean when I use the word evergreen. And it's a great attribute of the Disney storytelling brand. [MUSIC PLAYING] In many respects, a brand is a very, very careful balance between legacy or heritage and innovation. Because the world is changing so much and so quickly, it's important for brands, in order to be healthy, to continue to be relevant. Over the years, there've been a lot of discussions about how best to keep the Disney brand relevant and vital in a changing world. The Disney brand really was created in 1923 when the company was created. And it's now almost a hundred years old. And so you can imagine the pressure on that brand i...
About the Instructor
In an era of disruption, former Disney CEO Bob Iger led one of the world’s most beloved brands to unprecedented success with the acquisitions of Pixar, Marvel, and Lucasfilm. Now, through case studies and lessons from 45 years in media, Bob teaches you how to evolve your business and career. Learn strategies for expanding a brand, leading with integrity, and making big moves—from risk management to the art of negotiation.
Featured Masterclass Instructor
Former Disney CEO Bob Iger teaches you the leadership skills and strategies he used to reimagine one of the world’s most beloved brands.Explore the Class