This week we’ve been discussing iconic brands in our MBA Brand Strategy class at University of Notre Dame. We considered questions like What makes a brand ‘iconic? How do brands become icons? Why do brands sometimes lose iconic status?

I asked students to reflect specifically on why there are so few Millennial-specific iconic brands,  and what brands do you think have the potential to become iconic for adults currently 18-29?  This led to a lively discussion on our class blog, BrandStrategyMBA. Here are some of the highlights:

1. Many said it will take time to know which brands will stand the test of time, or which values will come to define this generation.

Jack: “This is a difficult topic to talk about since most iconic figures and brands don’t get that title until years after their time. When the Beatles first appeared did their fans truely feel that they were icons or did that title form over the decades that followed?”

Michelle: “I believe that in today’s culture, the so-called ‘popular’ brand is too quickly replaced by the ‘next best thing’ to even reach the beginning of iconic status. In fifteen years we will be able to identify those brands that are the past generation’s icons but it is very difficult to identify those at this moment. “

Kathryn: “Our generation seems to value instantaneous information and “the opportunity for everyone’s brand to be infamous.” When considering something in our society that does this, I immediately thought of Urbandictionary.com.  It’s tagline was written to resonate with our generation: “Urban Dictionary is the dictionary you wrote. Define your world.” It doesn’t get much more appealing to our generation than that.”

Joe: “Iconic brands are things of the past. No, really. It takes a lot of time for anything to become iconic – we don’t see airports named after living presidents (do we?) and we won’t see iconic brands until they’ve at least had a solid opportunity to die. The ones that don’t – they’ll be icons someday. GE is an icon not because it’s a great company, but because it has weathered so many storms.”

Dan: “One of my first thoughts before this year would have been Tiger Woods, but now I definitely do not think he will be known as clearly as an icon. To become an icon in my opinion, you have to stand the test of time, which will only be known in time.”

2. A second theme was that Gen y is too individualistic to crown any particular brand as ‘iconic’.

Brian: “Pegging Gen Y to a single, overarching culture is difficult…and risky. In our modern age of social media and globalization, many different cultures can easily exist within the same geographic space. I believe there are many cultures within Gen Y, each currently with their own “mini icons.”

Sarah Louise: “First, I agree that we will have to take the wait and see approach with this generation’s iconic brands. Many years will have to pass before the ripple effects of today’s celebrities, politicians, etc will be completely felt. Who knew how much Michael Jackson meant to the generation until he was gone? …Second, because we have so often been told to be individuals, this generation looks to role models less. We are told be innovators, not imitators. We are segmented so much, down to the single person, that brands will have difficulty appealing to this generation as a mass market.”

3. Some students ventured that brands like Google, Apple and Facebook would become iconic by representing  this generation’s relationship to readily available information.

Chris: “…at least one of the iconic brands for adults 18-29 would be the iPod. This generation feels the same way about information accessible on the internet that some people feel about the weather in the Midwest and that is if you don’t like it wait 5 mins and it will change. … They can provide information and if it proves wrong they can just as easily provide a retraction. For that reason I feel that blogging brands will be iconic. Most specifically I feel that blogspot with the backing of Google will remain one of the more identifiable/iconic brands.”

Mauricio: “…GOOGLE with only 12 years of life the brand is used for the 90% of Internet users and still growing. In 2005 It became the 38th brand in the world (Interbrand), but in 2009 ranking is the 7th brand in the world just behind Coke, IBM, Microsoft, GE, Nokia and McDonalds. My second brand will be FACEBOOK…“

Katie: “I’d have to agree with Chris that the iPod – or, more broadly, Apple – will end up being an iconic brand. …One more to just throw out there is Target. While it was not founded during this generation, the big expansion and huge gain in popularity was a more recent occurrence. Maybe it’s just because I shop there ALL the time, but to me, Target has definite iconic brand potential!”

Forrest: “From my observation, the Gen Y people hope they can been treated as special and important. So they really want to have their own personalities and want to be different from others. So we can expect the brands expressing uniqueness and individuality will become their icons, like Iphone, Itouch, Ipod….. The word “I” can really make them feel special.”

4. Others ventured that the personal brand or social networks would become the iconic ideals of this generation.

Sarah: “Who needs icons when we have a rotating cast of the Jersey Shore or The Bachelor?? =) I remember that Time Magazine that came out and declared that our generation is our own brand. I do agree but I don’t think that lends itself to a culture or a time period that creates icons although I guess time will tell. If I had to add someone to the list, I’d add Obama.”

Kate: “As for iconic brands for our generation, we are ourselves our most iconic brand, and not just because Time Magazine told us so in 2006 with You: as the Person of the Year. Who better for us to be the first to ‘discover’ our brands? …We now like Lady Gagabecause there’s no one else like her, and shun N Sync and boy bands because there are a million copy cats.”

Lindsay: “It’s difficult to pinpoint an iconic brand for Generation Y because we have become our own icons. Armed with a sense of self-efficacy and self-definition, members of Generation Y define their ideals and values individualistically rather than as a collective whole. We clamor for attention; we are the generation of “me”… which is not necessarily a negative. Mes are doers. They have confidence in themselves and their ideas. They believe that they can accomplish and some have/will eventually achieve something that renders them worthy of iconic status. Still, considering this “generation me” perspective, I think that what may be the iconic brand of our generation is, in fact, the social network. The collective set of venues through which we become our beloved “mes”.

Cole:“As others have mentioned, the rapid changes in technology are not limited to the newest electronic devices but rather change the way we live and interact with one another. … In this regard, iconic brands are affected as well, and as speed and efficiency become more and more important I believe iconic brands will rise and fall more rapidly as well.”

5. Some students challenged the whole notion of generation-specific brand icons.

Amy: “I do think that the strongest iconic brands are able to transcend multiple generations, continuously reinventing themselves to remain relevant to the current culture. Along with Coke, I would say Nike is another iconic brand and one that really took off with our generation. I don’t recall owning another brand of tennis shoes from about the third to twelfth grade. But, Nike is so much more than shoes and has been able to integrate its products into other iconic brands of our generation, such as through its Apple ipodpartnership. Nike has also helped define many of the iconic athletes of our generation – Jordan, Tiger, the Williams’ sisters, Lance.”

Mathew: “Bono is an ironic choice, but still relevant.  However, I do think the choice is relevant, since he has transformed himself into a credible celebrity humanitarian activist. Building on this theme of transformation, I actually remember being referred to as the Nintendo Generation in the ’80s. Now, Nintendo has reinvented itself as an interactive gaming juggernaut with the Wii that appeals oddly to every generation…Perhaps many of the icons of Generation Y will be reinventions of past icons. Madonna laid the foundation, Lady Gaga seems to be the next generation. A few more examples would be: Lord of the Rings replacing Star Wars, Twilight replacing The Lost Boys, American Idol replacing Star Search, The Prius replacing the Metro, The Killers replacing New Order, Coachella replacing Lollapolooza, and Facebook replacing Myspace.

Kristin: “I have definitely been a Bachelor follower for some time. But I really didnt jump on the Jersey Shore bandwagon til a few weeks ago. It is shows like this that get so many people talking, tweeting, facebooking, and blogging about them which then cause people who normally wouldnt watch to go watch and be part of hype. Now I am not sure if either show at this point are iconic.  I do agree with the previous comments that time will tell if things become iconic. But I do think social media will certainly speed up the process of determining what is iconic.”

Jonathan: “I agree …iconic brands in the traditional sense have gone the way of the dodo, simply because of the fractured nature of consumer experiences in the new millenium.  Just as we’ll never see another Michael Jackson or Rolling Stones, and just as we’ll never see NBC or the other broadcast networks have the kind of ratings dominance they once had, the era of mass popular appeal has come to an end as digital technologies have allowed people to form their own communities around their own interests and establish their own dominant brands within their different social circles.”

Ali: “Most of the technology related brands mentioned above may be hugely popular amongst 18-29 year olds, but most all of them are also popular beyond just this demographic. Hence, in my mind, these brands pass more as icons for the period in which they are popular rather than for a specific demographic. Youtube for example is a recent phenomenon. So is Gmail, the iphone, ebay, and the internet in general. But do these ‘brands’ represent 18-29 year olds any more than they do current 29-35 year olds? I think not!  What about the Obama brand? While Obama won the election largely on the strength of 18-29 year olds, is his brand an icon for this demographic, or is it more an icon for the post-bush sentiment for something different?”

Rob: “The biggest part of an icon is that it has to transcend just the product, and companies simply don’t control that. For that reason, I would agree that the idea of a generation-specific iconic brand is inconsistent with being an icon. It’s the difference between, say, Google and Intel. Google has more or less come to represent the combined benevolent power of the internet. .. Intel has been a brand I have been a lot more exposed to it, but it lacks the same resonance with our generation that Google encompasses.”

Suzy: “One reason why I think that it has become more challenging for brands to become icons in our time is that we are a very instant gratification generation. We know what we want, (which is usually the newest, best innovation) and we want it now, if not, yesterday. As a result, our attention span is also a lot shorter and we may not give brands the time and thought that they would have otherwise received generations ago.”

6. Nevertheless, a few names did emerge as potential generational icons, especially the idea that celebrities or people brands would be the most likely to endure:

Laura: “Red Bull / Rockstar / Other awful tasting energy drinks – Okay I am a little biased on this one, but here is another opportunity to create an iconic brand. Red Bull did not make a huge appearance into mainstream culture until the 18-29 age group was an ideal target market. Because of this, they have a product that currently associates with this generation.”

Matt: “I’d have to agree with Sarah that Obama has to be what I would call an ‘instant icon’ for our generation. Up to the time of the election, our generation has been known for being less than productive, and thus associated with the negative economic aspects of recent years…and so when Obama came on the scene as an ‘agent of change’ (I believe that’s what he ran on), it stuck to our generation as an instant icon. Hopefully if things turn out okay with Obama’s years in office, hopefully we can be known as the generation that restored our nation to greatness and prosperity.”

Paul: “Traditional brands and products have extremely short life-cycles now Very few brands stay in the public’s consciousness long enough to turn a profit let alone turn into icons for a generation. When I think about the icons of my childhood, I think about people and memorable events. I remember Michael Jackson doing the moonwalk while performing Billie Jean. I remember Michael Jordan taking off from the free-throw line. People, regardless of their attention span, will remember transcendent people and performances. No technological development can replicate the feeling of awe we feel when we witness a spectacular act, even if it’s in something as mundane as music or sports. This is why the icons for our generation will come from “people brands”.”