Saturday, May 3, 2014

The ascent of brand man

'Schumpeter' on the life of Wally Olins, "a high priest of the religion of branding", at The Economist.
"G.K. Chesterton got it half right: when people stop believing in God they don’t believe in nothing. They believe in brands. Companies spend as much time thinking about their brands as their products. Countries and cities hire brand consultants.
"Mr Olins recognised two great truths about the modern capitalist economy. The first is that the most precious resource in a noisy, crowded market is people’s attention. The second is that consumers are not just looking for utility in the things they buy. They are also looking for meaning. 'In the absence of a spiritual mentor,' he once declared, with his signature nonchalance, 'the idea of what the brand stands for—Just Do It, or whatever it is—is a substitute.'"

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