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Iconic capital plays a crucial role in brand management. It refers to the visual elements of a brand that make it recognizable and memorable. This includes the brand's logo, color scheme, typography, and any other visual elements associated with the brand. Iconic capital can create a strong emotional connection with consumers, influencing their perception and behavior towards the brand. It can also differentiate the brand from its competitors, making it stand out in the market. However, managing iconic capital can be challenging as it can create a love-hate relationship with consumers, as seen in the case of Crocs. Therefore, it's important for brands to carefully manage their iconic capital to ensure it aligns with their overall brand strategy and resonates with their target audience.
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The surface level of a brand is its iconic capital - its look and feel. Crocs' iconic capital created a love-hate relationship with consumers, which created headwinds in the short term but contributed to its success in the long run. Underneath the surface are the experiential elements of the brand like the company's financial capital, which covers the strategic planning behind the brand and how well the company manages investor relations, sales goals, its marketing strategy, and so on. In 2008, Crocs grew faster than it could handle and took ten years to get its financial capital back on track.
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