Corporate heritage brands and the precepts of corporate heritage brand management: Insights from the British Monarchy on the eve of the royal wedding of Prince William (April 2011) and Queen Elizabeth II's Diamond Jubilee (1952–2012)

Abstract

There are three key precepts that underpin salient corporate heritage brands: Trust, Authenticity and Affinity. Trust relates to the bilateral confidence between the institutional brand and stakeholders. Authenticity captures the notion of preserving the enduring identity traits of corporate heritage brands. Affinity captures the notion of public sovereignty (for any corporate heritage brand to endure there has to be public consent). The management of corporate heritage brands requires policymakers to show corporate brand stewardship to four spheres of activity: (1) achieving trust between the brand and its brand community; (2) preserving the brand's authenticity; (3) showing sensitivity to public concerns and ensuring the brand remains relevant and respected; (4) demonstrating empathy to environmental concerns; and (5) ongoing stewardship of the corporate brand. For its part, the British Monarchy, as a corporate heritage brand, is also dependent on bilateral trust between the Crown and public. This is predicated on public affinity towards the Monarchy and the Crown maintaining its authenticity as a corporate brand vis-a-vis its relationship with its brand community. A central finding relates to the centrality of trust to the management and maintenance of monarchy. In addition, there is a management requirement to calibrate authenticity (taking institutional and identity perspectives) and affinity (being mindful of customers and stakeholder concerns). This study builds on earlier JBM articles on corporate heritage brands (Balmer et al, 2006; Urde et al, 2007). This article is timely in that it comes during the lead up to Queen Elizabeth II's Diamond Jubilee celebrations 1952–2012 along with the wedding of Prince William to Catherine Middleton (April 2011).