Walt Disney Co chief Bob Iger was one of the panelists at Thursday’s Fortune Global Forum in Chengdu, China, discussing the interaction between culture and economics and brands in the future development of China:
I think there’s a misconception that exists in the world, because technology and development overall has created access to markets, to territories, to countries that is unprecedented, meaning we’ve never seen it before, that maybe the world is gradually becoming kind of a one world culture. And I think that’s absolutely not the case.
I think you can really trip a company up if they start believing that, because the pride that geographies or countries, or markets have for their own culture, and the desire to own and control it still is quite existent, whether it’s for political reasons, economic reasons, or just nationalistic reasons.
And so if you are a global brand like Disney, and we’re different from a brand perspective because we’re not a consumable, really, even though people consume our products, they buy our product. We’re much ore of an experience brand, whether you’re watching a movie, watching a television show, certainly going to a theme park. And I think because we are an experience brand, we touch culture in a very different way than a typical luxury brand might.
And when that happens I think you have to be very careful. You have to have a very deft hand, because on one hand the Disney brand and what it stands for is of interest to the culture and to the people in the culture. Disney, that’s certainly the case we’re an optimistic brand or an inclusive brand. We’re a brand that is viewed as good for me and good for my family. There are values to the Disney brand and what it stands for that have interested people all over the world. But, it’s very, very important that while we bring Disney to a market we make sure that in that market it feels like, for instance, China’s Disney. It can’t just be the Disney that exists in carbon copy form somewhere else in the world. (more…)