We live in a world of brand which has been created by the energy of marketing and advertising executives who, presented with a product to promote have utilised all the things at their disposal, satellite television, internet, magazine and newspaper to ensure both the recognition of the brand name but the ongoing demand for the style of product itself. There are few sectors of industry requiring brand than the fashion and shoe industry, a most competitive market place.
The brand needs to be easily identifiable, both the name and the logo that the executives wish to use. These names are subject to discussions and exhaustive debate before decisions are made. The questions to be asked include is the name potentially easily recognisable, does it bring a feel good factor, a whole raft of questions.
Perception is a most important part of our makeup. The executives have to read into the perception of the consumer. That involves many skills and analysis of fairly sophisticated market research. Market research in itself is a skill which must involve a good cross section of society, or at least the potential market for the product but it must also resist the use of loaded questions which were bound to lead to particular answers. Particular answers are important but only if they come from fairly neutral questions influencing the people answering the survey.
The target market for the product let us say for example gabor shoes may be seen as female in specific age groups. Their response to surveys about shoes, their views on colour, style, heels, and types of material must all be analysed thoroughly. Which gabor colour do they like they may be asked.
Once established, there is no time for complacency. The brand needs to be reinforced with imaginative advertising, perhaps using a celebrity from sport or the media. Such an endorsement has been regarded as a good investment by brands, but of course it does not come cheap. Agents are well aware of the value of their clients who if sportsmen known throughout the world can earn seven figure sums for an association with an international brand. Likewise a media star with world status can command similar fees.
The brand has an intrinsic value in itself. The selling price of a product is not merely the cost of production with the various profit margins of manufacturer, wholesaler and retailer added, in some cases it's the same company at every stage. The selling price has a brand value included.
A lady in gabor shoes has bought them for many reasons, perhaps the gabor style. A quality product enjoys brand loyalty as long as it fits the original bill and as long as the quality stands up to the test. It is an ongoing project to maintain the brand aware of the competitive that the consumer can select from where competitors have just as much access to the research and just as much access to the market place if properly funded. Fashion is an ever changing world and the players in that world must be on their toes, but if successful they are richly rewarded.
The brand needs to be easily identifiable, both the name and the logo that the executives wish to use. These names are subject to discussions and exhaustive debate before decisions are made. The questions to be asked include is the name potentially easily recognisable, does it bring a feel good factor, a whole raft of questions.
Perception is a most important part of our makeup. The executives have to read into the perception of the consumer. That involves many skills and analysis of fairly sophisticated market research. Market research in itself is a skill which must involve a good cross section of society, or at least the potential market for the product but it must also resist the use of loaded questions which were bound to lead to particular answers. Particular answers are important but only if they come from fairly neutral questions influencing the people answering the survey.
The target market for the product let us say for example gabor shoes may be seen as female in specific age groups. Their response to surveys about shoes, their views on colour, style, heels, and types of material must all be analysed thoroughly. Which gabor colour do they like they may be asked.
Once established, there is no time for complacency. The brand needs to be reinforced with imaginative advertising, perhaps using a celebrity from sport or the media. Such an endorsement has been regarded as a good investment by brands, but of course it does not come cheap. Agents are well aware of the value of their clients who if sportsmen known throughout the world can earn seven figure sums for an association with an international brand. Likewise a media star with world status can command similar fees.
The brand has an intrinsic value in itself. The selling price of a product is not merely the cost of production with the various profit margins of manufacturer, wholesaler and retailer added, in some cases it's the same company at every stage. The selling price has a brand value included.
A lady in gabor shoes has bought them for many reasons, perhaps the gabor style. A quality product enjoys brand loyalty as long as it fits the original bill and as long as the quality stands up to the test. It is an ongoing project to maintain the brand aware of the competitive that the consumer can select from where competitors have just as much access to the research and just as much access to the market place if properly funded. Fashion is an ever changing world and the players in that world must be on their toes, but if successful they are richly rewarded.
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