Harry Potter is one of the most well-known brand tales in recent years. So much so that there isn't a single person on the planet who hasn't heard the name. Naturally, Harry Potter is a transitory fad for many people. However, it's arguable that the Harry Potter brand teaches valuable lessons to the marketing community as a whole.
There are a few success elements that can be provisionally identified. Then there's the Narrative. The storytelling inclination that characterizes today's corporate culture is typified by Harry Potter. The management technique of the moment is storytelling.
Regardless, the most intriguing aspect of the Harry Potter story is that it is made up of multiple stories. There's bookselling, movie franchises, merchandise, anti-witchcraft reviewers, overly enthusiastic customers, ongoing, nonstop publicity, and the unresolved mystery of what will happen next. Each of these brand tales feeds off of, contributes to, and occasionally contradicts the others. It must be a regal brand tale, a wonderful brand story, and a multi-faceted brand storey in a world where storytelling is becoming increasingly obsolete.
The second factor is ambiguity. The Harry Potter stories appeal to both adults and children.
Marketers of days aren't fond of the word "ambiguity." We've been taught that visuals must be consistent, rational, and unambiguous. However, we're moving away from monolithic marketing and toward polymorphic marketing. Today's poster boy for that trend is Harry Potter.
The mystery is the third element. The books are enigmatic. Marketing is also a baffling subject. It's mystical not simply because we still don't fully comprehend how advertising works. In and of itself, the mystery is a marketing strategy.
Consider the "secret" formulas that help market a variety of products: Coke, KFC, and a slew of others.
Consider the gift-giving industry, which thrives on secrets, surprises, and delayed gratification, as well as gift-filled occasions like Christmas Day and birthdays.
The fourth point is amusement. The Harry Potter mania, whatever else it is, is enormously entertaining. The general public's reaction is amusing. The reaction of Harry's detractors is quite amusing. Not to mention the retail promotions, which are a lot of fun. If nothing else, Harry Potter serves as a gentle reminder that what we do is a lot of fun.
When all is said and done, Harry Potter is a perfect example of today's amusement economy. There is no business without show business, and this is where hot products, the next big thing, and the next big thing are all found. Today's marketers, in general, appear to have a lot to learn, and Harry Potter, in particular, demonstrates this.
As a result, there are four riddles to Harry Potter's success: narrative, ambiguity, enigma, and enjoyment. This is the game to play if you want to establish a name for your company.