BRAND LIKENESS IN THE FASHION INDUSTRY

Brand Image in the Fashion Industry

ACKNOWLEDGEMENT

I would take this opening to express gratitude my research supervisor, family and associates for their support and guidance without which this study would not have been possible.

ABSTRACT

We evolve a dynamic optimal control model of a fashion designer's dispute of maintaining brand image in the face of short-term profit opportunities through expanded sales. The key state variable is the brand's reputation, and the key conclusion is sales volume. Depending on the brand's capacity to order higher prices, one of two regimes is observed. If the price mark-ups relation to production charges is unassuming, then the optimal answer may easily be to exploit anything worth can be drawn from the brand in the short-run (Carbone, 2004, pp. 170). However, if the price mark-ups are more considerable, then a living brand should be preserved. It may even be worth acquiring short-term deficiency while increasing the brand's reputation, even if beginning a new brand title from scratch is not optimal. (Bianchi, 2002, pp. 18)

 

Table of Contents

ACKNOWLEDGEMENT2

ABSTRACT3

CHAPTER 01: INTRODUCTION5

Background5

Brand Image6

Purpose of the Research8

Problem statement8

Research Questions8

Rationale of the Study9

Aims and Objectives9

CHAPTER 2: LITERATURE REVIEW10

CHAPTER 3: METHODOLOGY15

Research Design15

Literature Search15

Keywords16

References17

CHAPTER 01: INTRODUCTION

Background

People pay more for brand-name products than they manage for vitally equal products needing brand identity. Sometimes this pertains to brand as a pointer of quality (e.g., Maytag cleaning machines). However, brand-name mark-ups are especially spoke in the fashion industry where functionality is less significant than the brand's pointer of style and exclusivity. If Gucci products are very expensive, then persons who brandish their consumption of Gucci products are indicating their riches to all observers (Bianchi, 2002, pp. 18). From trading textbooks we understand that the price of prestige goods should not be too reduced, because demand could be smaller at a smaller price (Berkowitz, 2000, pp. 140).

Physically adhering a brand-name to merchandise charges little, so the brand's capacity to order higher prices converts into substantial profit opportunities. This capability is name-specific; only stitching the title “Joe Smith” on a jumper won't boost its worth to any individual, except possibly Mr. Smith (Betts, 2002, pp. 151). Likewise, the price-raising capability of any granted title can alter over time. The title Ambercrombie & Fitch one time was highly treasured, being affiliated with the likes of Teddy Roosevelt and Ernest Hemingway. It dropped upon hard times by the 1970s before being effectively revived by The Limited (Carbone, 2004, pp. 120).Hence, a specific brand's capability to order higher prices is like a capital asset whose magnitude varies over time and that warrants to be organised carefully. This paper forms a key topic in brand administration, namely the preservation of “brand image” in the face of short-term opportunities”. The rudimentary concepts are well renowned from brand administration texts, but were deliciously recounted in an exceptional Fashion Survey topic of The Economist which utilised the period “brand integrity” other than “brand image”. (Jain, 2005, pp. 30-42)

 

Brand Image

A brand is the persona of an exact merchandise, service, or ...