Jasmine Wu

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Purposed

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A brand is not just a logo, is the story behind the logo, the memories, expectations and the relationships between brand and the consumers. (2020, Silva) How the business defines itself, determines how your identity is develop and eventually presented to the consumers. The companies need a clear understanding of the role they are playing in the lives of their target audience, and what they want to achieve. 

The main element to constitute a successful brand is ‘Brand Philosophy’, it can be defined as brand mission, vision, value, proposition. (2019, Bhasin) It is the outstanding factor between the two or more companies in the same marketplace, but the one with the ethical and unique brand philosophy commands a premium position in the market and in the psychology of the consumers.

Mission of a brand is how brand promises consumer, these promises become emotions hooks the target audience in and turn them into supporter for your brand. For examples, lululemon promised creating components for people to live longer, healthier, fun lives; MUJI promised sweep away the dissatisfaction, raise the level of the response; Nike promised to bring inspiration and innovation to every athlete in the world. Promise should improve over time based on any changing trends and consumer needs. 

Brand vision refers the track of a brand, what it hopes to be achieved in the future, is the centre of brand strategy and the way you interact with the consumers, are the most essential elements in your core branding. Therefore, it will guild the business strategy and outline where it will be one day. Gives insight to consumers about your brand narrative and encourage them to buy and be part of brand goals as a business.

Brand value is the monetary worth of the brand. If the brand were to merge, they want to use the brand’s name, logo and brand identity ton sell products and services, your brand value would be the amount they pay you for that right. Then this is market-based brand value. Brand names became symbol of design, durability, style, and service.

Brand proposition is to clearly identify the benefits that consumer derives out of your brand. A good brand proposition should also include the unique selling proposition which have benefits that no other brand can provide. Many successful brands such as Apple, Nike, Starbucks use brand propositions to present and create an awareness of their brand within target markets. Proposing a brand can also support logo development, marketing strategies and customer experiences overall when communicate with a brand. Forming a connection with audience and differentiating brand from others. (2021, Indeed)

brandmasteracademy.com

https://brandmasteracademy.com

www.marketing91.com

www.forbes.com

mosaicdistrict.com

www.servicebrandglobal.com

www.qualtrics.com

www.indeed.com

fabrikbrands.com

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Profit

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Economy is more than just money and finances, it is series of system that moves around, selling good and service to insure we all can live, work and prospered. 

In fashion industry, it produces and provides access to high-quality, affordable clothing. In a new textiles’ economy, clients have access to the clothes that they need. It captures the full value of clothing during and after use. In a new textiles economy clothes are used more often, which allows their value to be captured fully. Once clothes cannot be used anymore, recycling them into new clothes allows the value of the materials to be captured at different levels. To be able to capture the value of all materials are no longer worn, it is important to ensure that design aligns with recycling processes that are available today.

It reflects the cost of environmental and societal of materials in the price of products. Companies achieves fashion that does not pollution the earth, then that is economy of fashion. (MacArthur,2017)

Globally, 1.3 trillion clothing industry employs more than 300 million people along the value chain: the production of cotton alone accounts for almost 7% of all employment in some low-income countries.  By moving to circular system, the industry can unlock a 560 billion USD economic opportunity. Realising the opportunity requires new collaboration across the value chain, such as production, marketing, and after sale care to keep the materials in use.

As the average quality and durability of clothing on the market increases, so will the opportunity of capturing its value through new business models. Clothing resale is already widely adopted across the world.  If clothes are increasingly made to last, introducing attractive resale models suited to a wider customer base locally could significantly increase clothing utilisation. To achieve this, innovative resale models, partnerships, and the harnessing of digital technology are all required.

Economy is also paying employees fair amounts of money, companies to show leadership by embedding a living wage in line with benchmark throughout their supply chain and demanding the same from governments. Governments ensure that an increase in wages for workers is not taken by the powerful. (Gould,2014)

https://archive.ellenmacarthurfoundation.org

www.theguardian.com

womens-fashion.lovetoknow.com

smallbusiness.chron.com

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People

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Fashion is for everyone. Diversity in fashion is catering to different age groups, sizes, preferences in the items on sale and the faces representing the brand.

People look to the media gain ideas of what to wear, what they should look like, and who to be. But for many years there were very few black models and even fewer supermodels. (Clark,2022) Supermodels like Naomi Campbell, Grace Jones held the few spaces there were for black supermodels of the times, but there should have been more space to create diversity in fashion.

Gen Z is a generation wants diversity in fashion, they defined as the generation that was born from 1997 to 2012, people who are now teens and early 20s. They are passionate about social justice and leverage their identities to create a world that is better for everyone. (Diego,2020) People Over Profitswww.thepeopleoverprofit.org

By 2026, Gen Z will be the largest generation at around 82 million people, globally with estimated $200 billion annual global spend power(unidays,2021), they are the future from a marketing perspective, essential to businesses long term success.

With tremendous purchasing power, to attract Gen Z consumers companies needs to have a deep understanding of their buying behaviours. 

Sustainable – Gen Z spend more on sustainable products, Mintel data shows 70% 16-19 years old agree that sustainability is an important factor when purchasing fashion items. To meet Gen Z’s requirements, brands need to be clear about how e-commerce works for a better, sustainable future. 

Social Media – Axios reports that the changing social online habits and preferences of Gen Z are dramatically reshaping the internet. To attract Gen Z, social media promotion plays a big role. Such as influencer marketing, 65% have an Instagram account, and they are more likely to discover new brands and products via celebrities or people that are well known.

Clear Value and mission – Gen Z are very more likely than older generations to believe a company has a role in improving society, for example Fenty savage by Rihanna worth $270million (Mustafa/2022), the main reason lead this new brand achieved such succussed is brand mission – inclusivity. In the look book there are different ethnicity, different body shapes of models. Compare with Victoria Secret’s brand concept, create ‘perfect’ body shape. Fenty Savage are more diverse. With the changing of the society, this concept by Victoria Secret has fallen behind, therefore the brand was being resist. 

Nike is one of the most recognised brands, have amplified the voices of underrepresented communities, created a series of ads called ‘Until we all win’ to highlight the stories of indigenous people and LGBTQIA+, using power of sports. Nike knows how to use their brand influence to create a better society for everyone, and this is also what attracts Gen Z. 

Make peoples feel valued, no boundaries between peoples are a trustworthy brand. While brands are making the planet better, they are also building powerful business relationships that can take their business to an even greater level of success. 

References List 

Youtube/Thesandiegounion-tribune

fashionmingle.com

www.kornit.com

www.forbes.com

www.diarydirectory.com

www.theguardian.com

www.insiderintelligence.com

www.aib.edu.au

Youtu be/Deldel

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Planet

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Sustainability refers to garments, accessories that are accessed in an ecologically way. When sustainable comes in the fashion landscape, the approach becomes complex. Sustainable fashion has different approaches from various perspectives, what sustainability means for the consumers might not have relevance for the brands. 

Sustainable fashion for brands is to be responsible for all stages of a product’s life cycle – production to distribution. All elements are taken into consideration, when all of elements are taken into consideration of socio- economic developments and planet welfare, a brand can be defined as sustainable.

From consumer’s perspective, sustainable fashion is all about understanding the power and the importance of your choice of purchase (Chan,2022):

  • Quality over quantality: Buy less to achieve a long-term circular economy goal to make better enviroment future. Fashion industry is most wasteful on the planet (Drapers,2022), 100 billion garments are being produced globally every year, companies have been unable to match their sales gains with the equal improvements for the planet, as consumer spending increases, especially the clothing industry’s environmental impact expand greatly. When it comes to disposing of clothing, technologies today cannot turn unwanted apparel to make new goods. There are no markets large enough to absorb the large volume of material that would recycling clothes, every five garments produced, the equivalent of three end up in a landfill or incinerated each year. Fashion should not cost the earth.
  • Purchase sustainable fashion brands: Buying better also mean you are supporting designers that are promoting a voice of sustainable, Example, designers such as Ahluwalia, Connor Ives. Who all uses upcycled textiles in their designs. Brands such as Adidas, the brands aim to only use recycled polyester from 2024, minimum the effect they have on the environments, they also reducing water consumption I production, twenty percent of the energy used is renewable. 
  • Buy Second hand: Shopping second hand have a huge positive social and environment impact. It is reducing pollution in the form of carbon miles, save lots of resources, water and energy, also prevent old clothing from landfill or incinerated.

Industry developed for sustainable developments goals for economic and consumer, completion by 2030 to save the planet. One of the goals we looking to end in is World Poverty. Fashion contributes to poverty; the fashion industry is part of the feminist movement as it is a female – dominated industry. Eighty percent of the garment workers worldwide are women. They work up to eighteen hours per day for wages that are five times less than what is needed to live sufficiently. 

By buying ethical fashion, consumer directly aid companies that care about their employees, shoppers also opening many new industries within world economies and providing the employees a better quality of life.

As a whole, a better future environments.

Reference

www.mckinsey.com

www.vogue.co.uk

www.consciouslifeandstyle.com

www.northmist.com

ellenmacarthurfoundation.org

www.un.org/sustainabledevelopment

www.weforum.org/

borgenproject.org

https://www.mckinsey.com/capabilities/sustainability/our-insights/style-thats-sustainable-a-new-fast-fashion-formula
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