1. Given the discussion on mass customization, the model seems to hold new opportunities for young entrepreneurs considered to establish a new business. Highlight the advantages and challenges of the model from an entrepreneurial perspective.
"Mass customization refers to the concept of allowing each consumer to customize or adapt products' features according to his or her needs within a standardized platform with an acceptable price premium."
(Hameide 222) Hameide, Kaled K.. Fashion Branding Unraveled. Fairchild Books, 2/2011. <vbk:978-1-60901-792-7#outline(7.2.1.1)>. It is a good concept for entrepreneurs because it is a newer way to add uniqueness and quality to a brand. Upcoming entrepreneurs can can make themselves better than the competition because they can have the customization concept that other brands don't have.
2. Compare the way luxury and mass-market brands adopted the new technologies. What are the opportunities and challenges that each segment may encounter?
Technology created much more exposer for companies; this can be both good and bad. If a company is doing well and has little drama having the internet is a great thing. If a company has a problem everyone will know just by a simple Google search.
Many businesses can use technology to keep track of sales, demographics, statistics, and more. Technology allows businesses to do more at one time. "Mass-market brands may benefit more from new technologies, such as the Internet and virtual communities, than luxury brands probably would, as well as a younger and hipper customer base that is more Internet savvy."
Technology created much more exposer for companies; this can be both good and bad. If a company is doing well and has little drama having the internet is a great thing. If a company has a problem everyone will know just by a simple Google search.
Many businesses can use technology to keep track of sales, demographics, statistics, and more. Technology allows businesses to do more at one time. "Mass-market brands may benefit more from new technologies, such as the Internet and virtual communities, than luxury brands probably would, as well as a younger and hipper customer base that is more Internet savvy."
(Hameide 228) Hameide, Kaled K.. Fashion Branding Unraveled. Fairchild Books, 2/2011. <vbk:978-1-60901-792-7#outline(7.2.3.2.1)>.
3. Based on the chapter arguments and your personal analysis, how would you interpret the term iBrand?
"The iBrand name we created for this chapter is inspired by the trend of terms prefixed with the letter “i' that was initiated by computer guru Apple and adopted by others (Apple's iPod, iPhone, Imagine Publishing's iCreate, and CNN's iReport, among others). With its implication of user empowerment and consumer control, it seemed appropriate and rather inevitable to name this chapter iBrand."
(Hameide 221)
Hameide, Kaled K.. Fashion Branding Unraveled. Fairchild Books, 2/2011. <vbk:978-1-60901-792-7#outline(7)>.
An iBrand has to do with the items listed above and also refers to the current age of the internet. With new technology consumers have more control than ever in many markets.
An iBrand has to do with the items listed above and also refers to the current age of the internet. With new technology consumers have more control than ever in many markets.
No comments:
Post a Comment