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Fashion Branding chap 2
Terms in this set (49)
multifunctional process that highlights a proposed value for a product and transforms it into a real consumer experience
1. starts with a vision that identifies the need/purpose for brand to exist
2. create concept, meant to solve a problem and add a value to consumer
3. concept is transformed into product
4. product is given an identity that reflects value
5. values are communicated to the potential customer through various marketing channels
A BRAND is cowritten by...
The company: created brand for financial gain, bares the main financial risks
the consumer: every brand is built with target customer in mind
the culture: influence consumers needs, dictates what is "hot" and what is "not"
the company is the brand and the products are an extension, customer looks for the company to deliver the value
company creates separate brands and promotes each individually, easier to target various markets and segments with dif. price points
brands owned by a manufacturer and are distributed through national store chains not owned by the company
brands that are owned and distributed through an exclusive chain of stores or boutiques
Mass Market Price point
Luxury market price point
ready to wear
a fashion collection is a group of different but coherent items are meant to have a specific mood and image
a fashion line could be built on separates rather than on coordinates with variations in color/size/price
Fashion seasons: Autumn/Winter
design and sample: December-February
Selling period: Feb-March
Production Activity: May to August
Deliver to stores: July-september
Fashion Seasons: Cruise/Resort
design and sample: April-may
Selling period: june
Production Activity: August-October
Deliver to stores: end oct.- end nov.
Fashion Seasons: Spring/Summer
design and sample: July-Sept.
Selling period: Sept-Dec.
Production Activity: Nov.-Jan
Deliver to stores: Jan-March
Refers to need to sell and market the brand's concept inside the organization before you attempt to do so to the outside world, brand concept must be understood and embraced by everyone in the organization
everyone involved must be a brand advocate
refers to the external interaction w/ the market, starts at early stage of market research as well as with later activities aiming at marketing and selling the brand concept to the rest of the world
both marketing strategies complement each other
Mission Statement, mainly targets an internal audience.
It directs the strategic decisions and answers the important questions: "Why are we in business? And, what kind of business are we in ?"
Vision statement targets the outside world.
It is usually concise & long-term oriented, a framework for future decisions while maintaining the flexibility to respond to future changes.
-trensetters driven by creativity
-luxury brand's personalities are highly shaped by this creativity and thus eventually affects their core value
-the designer is the source of creativity, part of the brand
Product Mix: Product
A product is simply defined as a commodity offered for sale or as a sum of features that are meant to solve a problem (and offered for sale)
The Fashion Cycle
Introduction, rise, culmination, decline, obsolescence
Product Mix: Price
Price= Cost + MU
If price is set too low may raise suspicion about the quality and credibility of its products and still alienate potential customers.
If the price is set too high it will alienate potential customers and shifts the brand to a segment where it does not really belong.
Introducing the product at a premium price (skimming profits)
-this strategy is new, innovative, and exclusive
product is introduced at an attractive low price to achieve a faster market penetration and gain market share
- policy is more common with budget mass-market products
Everyday Value Pricing
As the name implies this is a strategy that focuses on the concept of value for money, where prices emphasize the amount and value a customer gets for his/her dollar .
Price Policies: Lining and Zoning
Price lining: all items are priced the same
price zoning: create a price floor and ceiling
Price Policies: Odd and Markdowns
Odd pricing: Use non round uneven amounts for their psychological effect ($1.99)
Markdown pricing: special and promotion pricing (sales, clearance)
Product Mix: Distribution
3 levels of distribution: Exclusive, Limited, Mass
Could be either through stores owned by the brand producer or through exclusive distribution agreement with a specialty retailer
Allows the brand to distance itself from competitors, and with the case of standalone stores owned by the brand, to display its full range of products and lines exactly in the manner and atmosphere it is envisioned.
The brand sold in one or more stores, chain of stores, or selective department stores that suit its targeted positioning strategy and image.
Still a high level of control and selective distribution yet more relaxed than seen in the totally exclusive option.
Distribution is available to almost any retailer willing to carry the products.
These are usually budget products that generate profit through high sales volume.
Product Mix: Service
Brand Identity: A strong visual identity:
- makes it easier to visually identify a brand among competitors
- makes it easier to recall a brand from memory
- makes it easier for consumers to buy a product
- makes it easier for sales personnel to sell a brand
Names or Logo/Name Mix
unique-mental association- lifestyle
fonts in branding
round edged fonts reflect a calm, romantic, feminine message while basic firm fonts are professional, bold, masculine
Criteria for an effective LOGO
- appropriate and consistent image of the brand
-Communicate the brand's personality
-Work well across media in terms of their scale, form, and color .. And clear enough to work in color and black & white publications.
A personality humanizes the brand and is developed through the accumulation of culture, vision, stories, product mix, and behavior.
"How the brand proposes to be perceived in the market in reference to its competitors"(think of it as "the case " for the brand)
WHAT: A brand for what benefit, and as such the brand promise and value to the consumer need to be clearly identified
WHOM: Who is the target, the potential customer
REASON: refers to the differentiators that support and can create such a benefit
AGAINST WHOM: the competition
Positioning on the Basis of: Product Mix
In the mass-market segment where products are hardy distinguishable in terms of look and features, differentiation is greatly based on elements such as price or convenience.
This approach is usually geared towards RATIONAL decision making such as value for money, convenience, or functionality.
This positioning strategy focuses on differentiating the brand on the basis of its product mix (such as design, price)
Positioning on the basis of Brand Identity
While buyers consume their products they basically experience the brand
Identity is a combination of the visual/audio symbols + personality.
Personality is the component of the identity with the stronger impact because it represents the philosophy and attitude of the brand and as such greatly shapes the other identity choices
Understanding, Exploration, Test, Strategic, Implementation and Activation
Positioning Phases: Understanding
identifying all potential added values for the brand based on its identity, roots, heritage and prototypes. In addition to an analysis of its customers, competition, and market.
Positioning Phases: Exploration
suggesting scenarios for the brand and finding the right platform. Its a process that requires time, eliminations and adjustments to determine the brands potential niche
Positioning Phases: Test
time where scenarios are either refined or eliminated which includes consumer studies to evaluate the credibility and emotive resonance of each scenario
Positioning Phases: Strategic
comparison of scenarios based on criteria andeconomic evaluation of potential sales and profits while taking into consideration the nature of the segment.
Positioning Phases: Implementation and Activation
once the platform has been chosen and drawn up, brand's values must be made palpable and tangible and the brand becomes in full action
Companies need to allocate a vacant slot on the positioning map that is not occupied by competitors
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