1. Compare services to products, and examine the difference and/or similarities in their branding process.
"The obvious difference is that products, for the most part, are a sum of tangible features meant to satisfy a functional purpose and need, whereas a service, though meant to satisfy a need as well, is intangible, emotional, and generally experiential."
(Hameide 178-179) Hameide, Kaled K.. Fashion Branding Unraveled. Fairchild Books, 2/2011. <vbk:978-1-60901-792-7#outline(6.2)>. An example of a service is a massage, facial, therapy session, or personal trainer. A product is something that is tangible and can be physically used such as groceries, makeup, shampoo, and clothing.
2. Define retail concept, and briefly discuss its role in the positioning strategy of a retail brand.
Can a store position itself based on a retail concept or a business model?
Can a store position itself based on a retail concept or a business model?
(Hameide 185) Hameide, Kaled K.. Fashion Branding Unraveled. Fairchild Books, 2/2011. <vbk:978-1-60901-792-7#outline(6.5.2)>. A retail concept is important for a brand so that the company is aware of what they do and how they do it. It gives the brand self worth and a concept to base their market, and strategies on. An example of a retail concept is to sell items at the lowest prices than competition and have great customer service. "The business model and retail philosophy adopted by the brand" Hameide, Kaled K.. Fashion Branding Unraveled. Fairchild Books, 2/2011. <vbk:978-1-60901-792-7#outline(6.5.2)>
3. What are the advantages and disadvantages of franchising as a global growth strategy?
A franchise is risky because a company has to put it its trust in an entirely different owner and business model. It risks a bad reputation for the brand if things go wrong. On the other hand it allows for nation and even international publicity, there could be much more opportunity for the brand to become global and increase sales.
A franchise is risky because a company has to put it its trust in an entirely different owner and business model. It risks a bad reputation for the brand if things go wrong. On the other hand it allows for nation and even international publicity, there could be much more opportunity for the brand to become global and increase sales.
Advantage: "An opportunity to expand the retail brand into new markets with minimal investment while maintaining the brand's image."
(Hameide 206) Hameide, Kaled K.. Fashion Branding Unraveled. Fairchild Books, 2/2011. <vbk:978-1-60901-792-7#outline(6.11.3.1)>.
Disadvantage: "Lack of control and possible difficulty in monitoring a large chain."
(Hameide 207) Hameide, Kaled K.. Fashion Branding Unraveled. Fairchild Books, 2/2011. <vbk:978-1-60901-792-7#outline(6.11.3.2)>.
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