130131 mg innovation vs nostalgia
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THE MEDINGE GROUP INNOVATION VS NOSTALGIA Sergei Mitrofanov Oriol Iglesias
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presented by Oriol Iglesias & Sergei Mitrofanov at Medinge Group annual Paris meeting; Jan 31st, 2013
Transcript of 130131 mg innovation vs nostalgia
THE MEDINGE GROUP
INNOVATION VS NOSTALGIASergei MitrofanovOriol Iglesias
© Oriol Iglesias
INNOVATION
How to innovate?
Looking ahead
© Oriol Iglesias
Source: ESADE Brand Institute
SALES
TIME
Line extension
Core productbase line
Minor product base line
Effects of cosmetic innovation
ROI
© Oriol Iglesias
ENOUGH
© Oriol Iglesias
NOSTALGIA
NOSTALGIA
Looking back
© Oriol Iglesias
NOSTALGIA
CONSUMERS BRANDS
CONSUMERS AND NOSTALGIA
Personal nostalgia
Communal nostalgiaSource: Brown et al. (2003) Journal of Marketing
CONSUMERS AND NOSTALGIA
20th Century
Individual
Owning
Hyper consumption
Advertising power
21st Century
Community
Sharing
Constientious consumption
Collective wisdom
CONSUMERS AND NOSTALGIA
21st Century
Community
Sharing
Constientious consumption
Collective wisdom
Tribalism
© Oriol Iglesias
There is a gowing desire to find purpose and an authentic story behing what we buy.
CONSUMERS AND NOSTALGIA
1960s
2000s
© Oriol Iglesias
Historyand Story
HumanRelationships
TraceabilityTransparencyAuthenticity
PURPOSE
NOSTALGIA
BRANDS AND NOSTALGIA
© Oriol Iglesias
During times of economic uncertainty, consumers lap up nostalgic brands.
© Oriol Iglesias
There is a gowing desire to find purpose and an authentic story behing what we buy.
CONSUMERS AND NOSTALGIA
© Oriol Iglesias
GENERATION-Y & NOSTALGIA
© Oriol Iglesias
VINTAGE AND NOSTALGIA
BRANDS AND NOSTALGIA
Rediscover identity and core valuesMake it personal Foster community
Reinterpret historyand build story
Provide evidencePURPOSE
© Oriol Iglesias
INNOVATION VS NOSTALGIA
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INNOVATION VS NOSTALGIA
Time to discuss both.
