1. Explain in your own
words why we need brands.
“Brands are also built on the
premises of differentiation and bringing something new and different that other
competitors in the market cannot, such as a new idea or concept packed with a
mix of offerings and features that are different and unique.” (Fashion Branding
Unraveled Pg. 6) Brands are needed to differentiate
one product or service from another product or service.
2. The promise of value
is an important element of any brand. Explain the concept and its relevance to
the brand.
Value is what gives a brand its
reputation. If a brand is known for poor
value, people will not want to purchase it.
If a brand or product is known as to have high value it will create the
reputation of a great product. The goal
of a brand is to create great products with a great reputation and of unmatched
value by its competitors. It must always
be better than the competition. “A
brand is a promise. It is a promise that it will deliver a value in the
best, most efficient way and will always do so. A promise is a contract, a
guarantee, and a reducer of risk.” (Fashion Branding Unraveled Pg. 9)
3. Innovation and consistency
may seem to be two contradicting notions. What does each term mean in relevance
to the brand, and how do these terms work together in defining it?
“A successful brand needs to be a dynamic entity
that evolves” (Fashion Branding Unraveled Pg. 18) Innovation is the evolving of a brand. A brand must consistently reinvent itself in
order to remain fresh and new. “Consistency
is another key factor for the success of any brand. If a brand is a promise or
a contract that guarantees delivery of a specific value to the consumer, then
the consumer needs to see that the brand is serious about its offerings and
will consistently deliver the promise. Without consistency there is no customer
loyalty, which at the end of the day is the ultimate goal for any brand and a
measure of good performance.” (Fashion Branding Unraveled Pg. 18) 
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