The Business of Aspiration : How Social, Cultural, and Environmental Capital Changes Brands

__The Business of Aspiration__ is about how consumers' shifting status symbols affect business and brand strategy. These changing status symbols, like taste, aesthetic innovation, curation or environmentalism create the modern aspirational economy. In the traditional economy, consumers signaled their status through collecting commodities, Instagram followers, airline miles, and busy back-to-back schedules. By contrast, in the aspirational economy, consumers increasingly convey status through collecting knowledge, taste, micro-communities, and influence. This new capital changes the way businesses and entire markets operate, and yet the modern aspirational economy is still an under-explored area in business and culture. __The Business of Aspiration__ changes that. In this book, marketers will find examples, analyses and tools on how brands can successfully grow in the modern aspirational economy. __The Business of Aspiration__ answers questions like, "what is good for my brand long-term?", "how is this business decision going to impact our culture?" or "what are the main objectives of our growth?" Marketers will learn to shift their brand narrative and competitive strategy, to create and distribute new brand symbols, and to ensure that their brand’s products and services create both monetary and social value. "Not long ago, wearing real fur was a signal of wealth and status. Now, it's a signal of ignorance. Thanks to luxury rental and resale services, these day anyone can walk around in a Gucci belt. But not everyone knows that Rimowa dropped a new suitcase or who made their food and clothes. Wokeness is a modern class distinction. What consumers value, and how they spend their time and money, changes the role and meaning of brands. It is not only business savvy, but also socially urgent that brands start trading in the modern aspirational economy. Overproduction and air travel are killing our planet, and social media addiction and busyness are killing us. Accumulating commodities and counting air miles and social media likes are aspiration symbols that reward the bad behavior of companies and individuals. For the longest time, brands have operated according to the Veblen logic that status is linked to wealth and desirability to price. Now they have the opportunity to flip the script of aspiration and link worth and values to their success. Aimed at marketers, entrepreneurs, and everyone else curious about changing business, in this book you will find analysis, examples, and tools of how to use the modern aspiration economy to shift your brand narrative and competitive strategy, create and distribute brand symbols, and ensure that your products and services create both monetary and moral value. Written by a world-renown brand strategy executive and Sociology Ph. D., this book seamlessly combines sociology and business to deliver practical advice for brands across industries"-- Provided by publisher Not long ago, wearing real fur was a signal of wealth and status. Now, it's a signal of ignorance. Thanks to luxury rental and resale services, these days anyone can walk around in a Gucci belt. But not everyone knows that Rimowa dropped a new suitcase or who made their food and clothes. Wokeness is a modern class distinction. For the longest time, brands have operated according to the Veblen logic that status is linked to wealth and desirability to price. Now they have the opportunity to flip the script of aspiration and link worth and values to their success. Aimed at marketers, entrepreneurs, and advertising professionals, this book is full analysis, examples, and tools of how to use the modern aspiration economy to shift a brand narrative and competitive strategy, create and distribute brand symbols, and ensure that a brand's products and services create both monetary and moral value. Cover Half Title Title Page Copyright Page Dedication Table of Contents Preface Introduction: The Modern Aspiration Economy 1 To Hack Growth, Brands Have to Hack Culture First 2 Three Models of Social Influence 3 Why Taste Communities are the Future of Marketing 4 Mimicry as Taste: Why Cultural Sameness is a Matter of Social Design 5 The 4Cs: Brand Strategy Meets the Modern Aspiration Economy Conclusion: Coronavirus Killed the Modern Aspiration Economy. What Comes Next? Index This book is about the new forms of social, cultural, and environmental capital change brand communication, strategy and execution, and business growth.