A brand is a design and name given to a specific product. It makes the product an entity through which it is identified. In the current global market, branding is essential because it helps the products of the company stand out among the thousands more in the same industry. The idea of branding is to help the product stand out.
The benefits of branding are endless however, there are five major benefits that have been outlined by markets (Keller, 2016).
Consumer recognition- it is the most important benefit of branding. Consumers expect a given product from a specific company to meet their needs. Having a strong brand means that it is easy to recognize. Consumers are more likely to choose it while shopping because of their ability to recognize it.
Competitive edge- brand name and logs offer a differentiation aspect. Consumers are in a position to recognize as well as back the product. In doing so, they increase the sales and associate the product with effectiveness which is a competitive advantage. The more the recognition, the more the brand grows hence elevating it above those of the competitor.
Loyalty and shared values- because of elevation by consumers, more and more want to try and gain similar satisfaction as those before. Potential consumers shift from other brands and start consuming the brand. Over time, they identify the brand as the one that meets their needs and hence creates loyalty (Jackson " Shaw, 2008).
Credibility and ease of purchase- a well-known brand has better credibility with the consumer. They attach aesthetic value to that brand making it easily marketable. By building credibility, the brand gains recognition which means that it can be trusted to always deliver credible, quality products that never disappoint.
Competitive environmental
The design strategy is used by organizations today as an approach towards achieving the company goals. In London fashion industry, achievement of consumer needs is the driving force. Competition is ensuring that their products are innovative and competitive. They go beyond the basic label that consumers identify the brand with to formulate products the meet the expectations of the consumer.
Major competitors in the industry such as Paul Smith, Viviene Westwood, Lulu Guinness and Stella McCartney all have a branding department that works with innovation to create designs they are market competitive. Environmental factors such as trends are important in creating the brand. The advantage of having a brand that is competitive is the ability to be a market leader who can set trends in prices and intricate of tailoring (Okonkwo, 2016).
The above brands are currently the most desirable in the market. Stella McCartney designs, for instance, are mainly focused on celebrity dressing. Her work has been so important that the brand has been used in Paralympic games in 2016. The Lulu Guinness which focuses on accessories complements looks. The artistic designs have been a brand that is easy to recognize through extensive selling in major stores across the country. Any person who knows fashion knows Vivienne Westwood as a national treasure. The designs are noticeable immediately sported because of the uniqueness of the designs and the fabric used. On the other hand, P. Johnson major competitor is the Sir Paul Smith designs which have been named as the kings of men fashion in London. Their trademark stripped shirts, the wallets and accessories all come in handy when dressing men for any occasion.
Brand awareness
It is the ability or extent to which the market players recognize a given brand. It is vital in the study of a company’s consumer behavior, brand management and advertising. Strategic development of clothes and fashion requires an understanding of the awareness in order to determine the target market as a way to influence customization. Importantly, consumers cannot buy unless they are first aware of the product presence. The amount of awareness indicates the product life, the attitude towards that product and the usage it has. These factors tell whether the product is feasible in the market.
Brand image
The brand image is basically an impression that a consumer has in his or ger mind regarding a particular product or service. It is a component of both what is real and the imagination of the consumer. It is something that marketing creates over time through continued advertising and consistency of themes. The definition can only be expressed via consumer description of how they understand and view the brand in question (Ross " Harradine, 2011).
Consumer profiling and brand position
Consumer profiling refers to the ways in which a supplier defines the consumer categories. The purpose of this is to help in advertising and targeting during production. Market segmenting is based on consumer profiling so that different products are sold in different locations and price differentiation can be applied. Creation of the right consumer profile is based on looking on the potential customers, defining the ideal consumer of a product before it is launched through an understanding of their different lifestyles, preferences, tastes and stages in life. These traits will tell who is more likely to associate with the brand and their willingness to purchase.
The positioning of a brand is done by the consumer. The consumer ranks the designs based on their own experiences and their feelings towards them. In many cases, the position becomes vital as it influences potential consumers given that in fashion, products are considered to the theory of the consumer.
Brand expression and evolution
The brand expression is the tone, voice and message sent by the design. It is what the brand represents to the market. The message offered is sometimes unspoken but expressed in terms of the attributes attached to that brand or the mapping message the defines the brand. Each concept that is used in designing and how the brand is marketed will tell of the message being expressed. Over time, the brand logo, the promises and perceptions of the company can be worn out. It is vital that a company continues re-branding so that to remain competitive. Re-branding normally comes in hand with a new product development or alteration of the existing ones to a more modern expression.
Extension of Floris perfume
P. Johnson focuses on men designs. With numerous products that cover almost all aspects of clothing needs, they need to add complementary aspects that will allow them to compete at the same level with others. Where companies like Paul Smith have additions of watches, wallets and other accessories, P. Johnson utilizes the services of Floris perfumers to complement their products. Each company recommends the other helping in marketing and increase in sales. The company has the ability and probability of buying shares or taking over the perfume franchise as a way to increase its brand presence in the market (Romeo " Dodds, 2015).
Conclusion
Branding is the key to better performance in the market. Recognition creates loyalty while the quality of the products can only be recognized through association by the consumer. Through branding, P. Johnson has taken its position and market share allowing it to stabilize presence and sales.
References
Jackson, T., " Shaw, D. (2008). Mastering fashion marketing. Palgrave Macmillan.
Keller, K. L. (2016). Reflections on customer-based brand equity: perspectives, progress, and priorities. AMS review, 6(1-2), 1-16.
Okonkwo, U. (2016). Luxury fashion branding: trends, tactics, techniques. Springer.
Romeo, J. R., " Dodds, W. B. (2015). The effects of brand quality and price on the evaluation of brand extensions. In Proceedings of the 1996 Academy of Marketing Science (AMS) Annual Conference (pp. 282-288). Springer, Cham.
Ross, J., " Harradine, R. (2011). Fashion value brands: the relationship between identity and image. Journal of Fashion Marketing and Management: An International Journal, 15(3), 306-325.
