1. Brands are the solutions that people meed for ether a practical or emotional need. Brands are products or services that can be represented by symbols, words, or design that represents a product or service. The brand allows consumers to associate an idea to a product which can be value, quality, or identity. "Consumers often define brand identity in terms of very concrete, palpable, and tangible attributes" (Fashion Branding Unraveled).We need brands to distinguish between companies that offer certain features in their products that we are looking for. Value isn't something that is just measured by how much we spend on something but also how well it fills our need. "Consistency is another key factor for the success of any brand"(Fashion Branding Unraveled).
2. An 8 dollar bar of soap is cheap compared to the price of a new car but when taking into consideration the average price of soap it doesn't seem like the best bargain. Value can be purchasing a certain product such as $300 smart phone that eliminates the need for an MP4, computer, internet service, and GPS. A purchase that requires several hundred dollars doesn't seem like something that would provide much value but it fill several needs while eliminating costs simultaneously.
3. "The concepts of the terms innovation and consistency may seem a bit contradictory" (Fashion Branding Unraveled). Brands have to constantly develop new services and products that are in tune with the new needs of consumers. The new products also have to be consistent with the brand image. Apple is a company that is always innovating with their new products but they are consistent with the quality image and service they provide. Apple could innovate software for computer systems but it is not consistent with the company image.
2. An 8 dollar bar of soap is cheap compared to the price of a new car but when taking into consideration the average price of soap it doesn't seem like the best bargain. Value can be purchasing a certain product such as $300 smart phone that eliminates the need for an MP4, computer, internet service, and GPS. A purchase that requires several hundred dollars doesn't seem like something that would provide much value but it fill several needs while eliminating costs simultaneously.
3. "The concepts of the terms innovation and consistency may seem a bit contradictory" (Fashion Branding Unraveled). Brands have to constantly develop new services and products that are in tune with the new needs of consumers. The new products also have to be consistent with the brand image. Apple is a company that is always innovating with their new products but they are consistent with the quality image and service they provide. Apple could innovate software for computer systems but it is not consistent with the company image.
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