1. Explain in your own words why we need brands.
According to Fashion Branding Unraveled by Kaled K. Hameid, it is written that:
A brand creates a visual identity and a mental reference to the product.
• A brand offers a promise of a certain value and a contract or guarantee that it will be consistently delivered.
• A brand makes our choices easier and less risky.
• A brand allows us to identify with and belong to a certain lifestyle or image.
A strong brand can create an entry barrier for competitors to enter the market and challenge it.
In my opinion, we need brands so that consumers can develop trust for what they are purchasing. Brands give different options for similar products and a variety of choices.
2. The promise of value is an important element of any brand. Explain the concept and its relevance to the brand.
Value is important in a brand because it helps the company grow and gain a name for itself. Aside from that, customers are able to trust that they are getting quality out of their purchase. People want to know they are getting their money’s worth for what they are purchasing.
3. Innovation and consistency may seem to be two contradicting notions. What does each term mean in relevance to the brand, and how do these terms work together in defining it?
A brand needs to be innovative by keeping up with the changing times and trends, and technology. They need to stay consistent, however, to they’re brand and what they are known for. For instance, a clothing company can continue to change with the trends and the current fashions, however their target market, demographic, sizing, and theme should not change. A brand must have consistency to be a brand, but should also be innovative in order to be successful and useful.
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