Fashion World: Applied Management Brand Management Report

This report presents a comprehensive brand management analysis of Fashion World, a new business venture in the textile and fabric recycling industry. The report begins with an introduction outlining the concept of brand management and its importance. It then details Fashion World's business idea, which focuses on providing innovative and creative clothing designs for a diverse customer base, emphasizing sustainability and meeting unmet customer needs. The report justifies the business idea, highlighting market trends and the potential for profitability. It identifies the target market, which includes environmentally conscious consumers aged 16-32, and details the services offered, such as collaborations with designers and online platforms. The analysis also explores the industry's sustainability, recycling, and fast-fashion trends, and outlines Fashion World's competitive advantages, including creativity and a focus on customer satisfaction. Furthermore, the report conducts a CBBE (Customer-Based Brand Equity) analysis of Fashion World's competitors, Kapdaa-The Offcut Company and Adidas, examining their brand image, performance, imagery, and judgments. The report concludes with a discussion of Fashion World's strategies for building a strong brand image and achieving competitive success.

APPLIED BRAND
MANAGEMENT

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................1
Business Idea:..............................................................................................................................1
CBBE Analysis of competition...................................................................................................4
CONCLUSION:..............................................................................................................................5
REFERENCES................................................................................................................................7

INTRODUCTION
Brand management include process of management of brand value, its perception and brand
reputation by building and maintaining customer’s satisfaction and loyalty so that they prefer
products and services of particular company in comparison with other competitors. New ideas
and innovation helps in bringing new business to offer various products and services to
customers in order to satisfy their needs and requirements (Matusitz, 2018). This report covers
about new business idea such as Fashion world that operate in textile and fabric recycling
business. It also explains various services provided by business and the way it can build strong
brand image in the market so that customers prefer products and services of it over other
competitors. The report also discusses about target customers, recent trends in industry and the
way company will gain competitive advantage in fashion industry.
Business Idea:
New business is established to bring innovation and creative within society so that need
of unsatisfied customers can be fulfilled and it can gain competitive advantages. Fashion world is
a new business that plan to establish its business in United Kingdom in order to provide
innovative and creative design clothing for people of all age, size so that everyone can look
attractive. It offers various products and services such as clothing, shoes, belts, bag and jewellery
so that all needs of people can be meet by single operating company. Company is planning to
manufacture qualitative and standard products so that it can charge competitive pricing for
customers. It is planning to establish its stores at high street so that people can easily come and
make purchase of products and services. Online sites are also used by company to offers
products at mostly people like to purchase product while staying at their home. 24 hour
customer’s services and various promotional offers are planned by company to market its
product and services to large number of customers (Greve, 2016). Objective of fashion world is
to make, look and feel people better and attractive thus improving their living standard.
Company by satisfying needs of customers by bringing innovative and fashionable products are
to build strong brand image and attract large number of customers. It had planned to market its
product through social media as mostly young people spend most of their time watching videos
and playing games. Therefore advertisement through social media is able to attract large number
of customer and build effective brand image within limited time and cost.
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Justification
As in recent trends people tend to look smarter and attractive by wearing various
fashionable clothe so they want best clothe to be wear while going for party, business meeting,
and seminar. It can also be stated that clothing is most of the most trending, demanding and big
business in UK as fashion industry is worth £26 billion. British is major exporter of products and
services to other countries so starting business in such industry would be highly profitable able to
meet needs and demand of each customer (Pecot and De Barnier, 2017). Therefore Fashion
world business is able to meet needs of unsatisfied needs of customers by designing innovative
and creative design clothing so that people can look pretty and attractive. Fashion world is
important to establish in order to meet unsatisfied needs of people that have problem of obesity
so company by manufacturing large size clothing is able to meet needs of such people. At the
same time increase use of social media to post photo has increase demand of product in fashion
industry so company by opening its business is able to meet all such requirement of firm. One of
the motivators that provide an idea to establish fashion world is 22% of young people think that
UK manufactures attractive and creative design fashionable products. Thereby fashion world is
necessary to establish for meet needs of all such younger generation to look attractive.
Target Market
Target customers of fashion world are 16 - 32 females and males, the people that are highly
interest in protect and safety of environment and in fashion so that they look attractive. Company
also planned to attract customers that want creative and innovative design and prefer quality of
product over price at the same time it is also planning to target people that are living in
metropolitan areas. Therefore they can easily come and make purchase of various fashionable
items under one store. It has target females and males of ages group of 16-32 as there are mostly
like to have party, meeting and seminars thus it target such customer in order to enhances its
sales and profit margin (Dunes and Pras, 2017). As Fashion world is planning to manufacture
products while taking various safety measure such as minimum wastage by effective utilisation
of resources and reduce carbon emission so environment can be protected. Thus it planned to
target customers that are highly concerned to preserves and protect environment and its
resources. It has also planned to target customers that want highly creative and innovative
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products to show off within society so such people can be attracted to purchase products of
fashion world. Therefore it can stated that company has selected appropriate target customers in
order to enhance its sales, profitability and effectively build brand image within limited time and
cost.
Services offered by company
Fashion world has plan to collaborate with other companies that have strong brand image
and customers satisfaction so that it can easily attract large number of people to prefer products
and services of company over other competitors in the market. It has also planned to collaborate
with fashion designer as it can continuously make innovative and creative products to satisfy
need of customers beyond their expectancy (Nguyen, Melewar and Hemsley-Brown, 2019).
Attractive and innovative design and simple website provided ease and comfort to user to view
various products and services offered by company. Continuous presence on online sites also
helps Fashion world to get to know about market trends, competitors strategies and customers
feedback so that it can formulate effective strategies to expand its business. Fashion world on its
official website has planned to also provide information about various materials that are used to
manufacture standard and qualitative products and services and material products. Such
strategies help in influencing customers as they are aware of material used by company to
manufacture fashionable products thus helps in building strong brand image and gaining
customer’s satisfaction.
Various initiatives taken by business to solve problem
Fashion world has planned to recruit, hires employees that have high, knowledge and
creative skill to manufacture fashionable products. It has also planned to use innovative
technologies to bring economic of scale and effective utilisation of resource by minimising waste
production thus meeting needs and demand of customers (Baumgarth, 2018). Fashion world
planned to trained and develop knowledge of employees so that they can recreate and repurpose
for meeting needs of fashion lovers.
Overview of industry in which Fashion world operates
Sustainability: Textile and fabric industry is growing at fast pace as people tend to wear
attractive and creative, fashionable clothes, jewellery and shoes while going for party or any
function. Therefore establishing business in such industry would be sustainable for longer
period of time as demand of such products and services are growing at rapid pace. Various
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factors increasing in environment has pace growth and sustainable of company in market.
Recycle: As lot of damage is caused to environment and resource are limited so recycle of waste
products and services are growing in UK. Such recycling of waste products and manufacturing re
wear material is growing at fast pace such as production has increased upto 25% and business
50% in UK.
Fast Fashion: Number of younger generation is also more so demand of fashionable products is
increasing and most of the people think that UK manufacture best fashionable product so
company can easily grow and expand its business in Fashion industry. Demand of clothe have
been rising at rapid pace due to continuous change in clothing.
Competitive advantages
Creative: Fashion world has planned to gain competitive advantage by continuously innovative
its products to satisfy needs and demand of customers and increase its profit margin (Piehler,
2018).
Fashionable leader: Fashion world has planned to become fashionable leader by recycling
waste products and manufacturing innovative and creative design in order to provide better
customers satisfaction.
Experimental: Being fashionable and continuous research and development so that unsatisfied
need of people is another strategy used by fashion world to gain competitive positioning.
Continuous experiment helps in brining innovation and optimum utilisation of wastage products
thus protecting environment and meet needs of customers.
Being Fashionable: It focus is to build and retain customer satisfaction and loyalty by
continuously evaluating and analysing various trends in textile and fabric industry as per needs
and requirement of people. Thus objective of company is to remain fashionable in order to build
strong brand image in the industry.
CBBE Analysis of competition
Fashion world operates its business in fashion retail industry so there are large number of
competitors with their well established brand image and market values. It has to identify various
strategies of its competitors, their market share and how they gain competitive advantages so that
it can easily plan strategies to survive and grow in the market (Liu, Burns and Hou, 2017).
Therefore CBBE model can be used to evaluates brand value and perception of two main
competitors of fashion world such as KAPDAA- The Offcut company and Adidas.
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CBBE Model Analysis
This model is used to evaluate and analysis success of brand image by identify the way
buying behaviour, attitude and preference of people towards a particular brand product and
services. It is classified into various stages in order to build effective brand image in the industry
and increases its market share.
Silence: It refers to the way brand is preferred by people as compared to other competitors in
terms of words used and images that came up in minds of customers. Therefore it is most crucial
stage in creative effective brand image in market and as it base of rest of the pyramid. People
tend to identify Adidas with providing wide varieties of products and services such as stylish
clothes, footwear accessories and other products (Powell, 2017). It has well established its brand
image in term of breadth and width in sport as its product are well known for offering higher
level of quality. Whereas KAPDAA- The offcut is known for sustainable brand products that
mean people are aware that it offers sustainable and qualitative products and services to
customers thus able to build strong brand image and gain customers satisfaction.
Performance: It refers performance of brand, company and its product and services in meeting
needs and demand of customers so Adidas by continuous innovative its product and services and
maintaining quality of its products and services is able to satisfy need of people. All people are
aware of sustainability, durability and reliability of product offered by Adidas as used by most
sportsmen. Whereas Offcut by reusing and making effective utilisation of available resources is
able to protect environment at same time attract customers to prefer product of its company over
other competitors. Both are able to charge competitive pricing as they provide qualitative and
standard products and services to customers.
Imagery: It helps in meeting customers’ physiological and social needs or the way they think
and prefer particular brand products over another. As Adidas was first associated from successful
and popular sportsmen’s but now its product are used by most of people that belong to high class
(Chapleo and Clark, 2016). On the other hand people tend to know KAPDA- The Offcut to
effectively utilising waste products and making innovative and creative fashionable products to
meet customers satisfaction.
Judgment: This stage explains about people judgment about quality of product and services
offered by company such as Adidas products and services are high valued in term of benefit
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render by them. At the same time KAPDA is also have high brand values of its products as its
one of leading company to effectively utilise waste products to manufacture qualitative products.
Feeling: Customer feels happy satisfied and self respected while wearing products and services
as both of them have strong brand image. They feel superior from other people as they have wear
brand products in order to show off to other people.
Resonance: Online presence of both Adidas and Offcut Company helps in effective and close
relation between customers and company so that they can easily understand people demand and
preference. Thus, able to gain competitive advantage by manufacturing innovative and creative
design clothing and footwear to provide best customer experience.
CONCLUSION:
From the above report it can be concluded that various steps can be taken by Fashion
world to take advantages over other competitors are firstly it had to make effectively utilisation
of resource and take various steps to conserve environments so that customers are attract to
purchase products of company (Powell, 2018). It should used innovative technologies to bring
economic of scale and reduce wastage and cost of product so that qualitative products can be
offered at reasonable rates. Third steps that Fashion world can take to manufacture clothing for
large sized people as there are number of people suffering from obesity so it is one of the best
ways to gain competitive advantages and increase market share. Textile and fabric industry is
growing at fast pace so company by establishing its business in such industry is able to expand
its market share and build strong brand image in the market.
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REFERENCES
Books and Journals
Greve, G., 2016. Social Media Brand Management. In Encyclopedia of E-Commerce
Development, Implementation, and Management (pp. 2109-2120). IGI Global.
Matusitz, J., 2018. Brand management in terrorism: the case of Hezbollah. Journal of Policing,
Intelligence and Counter Terrorism, 13(1). pp.1-16.
Pecot, F. and De Barnier, V., 2017. Brand heritage: The past in the service of brand
management. Recherche et applications en marketing (English Edition), 32(4). pp.72-
90.
Nguyen, B., Melewar, T. C. and Hemsley-Brown, J., 2019. Building a trustworthy university
brand: An inside-out approach. In Strategic Brand Management in Higher
Education (pp. 196-216). Routledge.
Liu, X., Burns, A. C. and Hou, Y., 2017. An investigation of brand-related user-generated
content on Twitter. Journal of Advertising, 46(2). pp.236-247.
Powell, S. M., 2017. Journal of Brand Management: year end review 2017. Journal of Brand
Management, 24(6). pp.509-515.
Chapleo, C. and Clark, P., 2016. Branding a tertiary institution by committee: An exploration of
internal brand analysis and management processes. Journal of Brand
Management, 23(6). pp.631-647.
Powell, S. M., 2018. Journal of Brand Management: year end review 2018. Journal of Brand
Management, 25(6). pp.494-499.
Piehler, R., 2018. Employees’ brand understanding, brand commitment, and brand citizenship
behaviour: a closer look at the relationships among construct dimensions. Journal of
brand management, 25(3). pp.217-234.
Baumgarth, C., 2018. Brand management and the world of the arts: collaboration, co-operation,
co-creation, and inspiration. Journal of Product & Brand Management.
Couto, M. and Ferreira, J. J., 2017. Brand management as an internationalization strategy for
SME: A multiple case study. Journal of Global Marketing, 30(3). pp.192-206.
Dunes, M. and Pras, B., 2017. The impact of the brand management system on performance
across service and product-oriented activities. Journal of Product & Brand
Management.
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