This is the keynote address from Team Detroit's panel discussions at SXSW, given by Toby Barlow, our Chief Creative Officer. We are hard wired to understand stories. Stories convey meaning. They help us understand ourselves and our world. And while the nature of storytelling keeps changing as media platforms evolve, the principles of great stories are timeless.
I was thinking the other day about the DNA of premium brands . One thing is certain -- it's a relative idea. For example, Hyatt is not a premium brand if you're used to staying at a W or a Ritz Carlton. But if your vacations to date have been holed up in a Holiday Inn, then by all means a stay in a Hyatt is a premium experience. Another thing is certain -- a brand is considered premium only when we believe it is worth the price. And that's where we can dig deeper. Why are we willing to pay more for a product when there are others that provide the same service or function at a lesser price? I have spent a good part of my marketing career developing strategies and ideas for a wide range of premium brands, including American Express, Sony, Callaway Golf, Hilton, Jaguar, Land Rover – even the Toyota Prius. Through these experiences I have come to believe that a premium brand is built upon specific tangible and intangible attributes that give it a sense wort