Lecture Notes: The Nobel Prize - The Identity of a Corporate Heritage Brand

Introduction

• The study aims to understand the identity of the Nobel Prize as a corporate heritage brand.
• First field-based study on the branding and identity of the Nobel Prize.
• Broader aim: contribute to theory and practice of strategic management of corporate brands with heritage.
• Introduced "Heritage Brand Identity Process" as a structured approach for managing heritage brands.

Understanding Corporate Brand Identity and Heritage

• Relevant for many organizations and institutions.
• All established brands have a history, which varies in richness and length.
• Some brands use history as part of their identity, e.g., "founded in [year]".
• Heritage helps answer identity-defining questions:
  • Who are we?
  • Where do we come from?
  • What do we stand for?
  • What do we promise our stakeholders?

Brand Heritage

• Many brands have heritage, but few are heritage brands.
• Brand heritage is a perspective on past, present, and future.
• Applies to all brand types and organizations.

Definition of Brand Heritage

• Defined as "a dimension of a brand's identity found in its track record, longevity, core values, symbols, and belief in its history" (Urde et al., 2007).
• A corporate heritage brand has a positioning and value proposition based on its heritage.

Implications for Corporate Heritage Brands

• Studying the Nobel Prize as a corporate heritage brand provides insights into managing brands with a strong historical identity.
• Importance of incorporating heritage into brand identity and communication strategies.

Conclusion

• Corporate heritage brands like the Nobel Prize pose unique management challenges.
• Understanding and leveraging heritage can strengthen brand identity and stakeholder relationships.