Posted by: ollycnguyen | October 31, 2019

Brand Collaborations Getting with the New Power!

In Jeremy Heimans and Henry Timms, “New Power”,  the running theme of the book is that the concept of Old Power versus New Power in respects to business or corporations, the political or social climate, and/or innovation within organizations. Corporations especially, are now moving towards separating themselves from “Old Power” and adopting “New Power” in their corporate ethics and areas of growth. So what is this Old Power versus New Powers concept and why does it matter? 

From the text, old power is considered the “traditional” or old ways of corporations behaviors in comparison to the new power. The “power” that the theme of the book is like There is a diagram below: 

(Image Courtesy of Harvard Business Review)

I find this so fascinating because I’m obsessed with corporate branding and large brand behaviors. In comparing old and new power, old power would be companies and brands such as Urban Outfitters or New Balance, competing against each other. But new power is large brands coming together as a part of their brand success and strength and launch collaboration pieces in the apparel industry such as New Balance x Topo Design street wear or the food and beverage brands like some local spots, Deadstock Coffee x Tea Bar

I think this new power turn is in response to the over saturation of competing brands and companies but also starting a business  in our current economy is like opening a bank account, it’s not rocket science. The only thing that can distinguish brands apart is how their business models hold through the competition, there are no longer any secrets in the game of business. Businesses are now actually saying “let’s collaborate”. In addition to handling saturation, brands are also moving to fit the demand of “experience economy”. A good example of brands actively pursuing experience economy is Airbnb x Barbie. People can now rent Barbie’s Malibu Dreamhouse in Malibu, California and experience the house that is thoroughly decorated with Barbie-esque things and of course, with Barbie-pink themed decor. 

Citations:

Heimans, J., & Timms, H. (2018). New power: how movements build, businesses thrieve, and ideas catch fire in our hyperconnected world. New York, NY: Random House Large Print.

Old vs. New Power. (2018, May 24). Retrieved October 23, 2019, from https://thisisnewpower.com/2018/04/06/old-vs-new-power/.

Timms, J. H. H., & Botsman, R. (2015, July 1). Understanding “New Power”. Retrieved from https://hbr.org/2014/12/understanding-new-power.



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