To Build a Strong Brand within the Fashion Industry Literature review

To Build a Strong Brand within the Fashion Industry - Literature review Example Strong brand provides intangible value to the companies those results in the enhanced productivity, profitability and better relationship with the customers. (Pride, and Farrel, 2011, p. 351) This is probably the reason due to which many of the marketing gurus believe often say that product are manufactured in the factories, but brand are built in the minds’ of the customers. Reason Building strong brand in the fashion industry benefits the marketers in several ways such as reducing the issues related to the price sensitivity, increasing market share revenue, and brand equity and customer loyalty (Admedia, 2007, p.1) Benefits of Branding Branding helps both the buyers and the sellers. From the perspective of a buyer branding helps the buyers to identify the products that the buyers like or dislike; it helps the buyers to identify the desired marketer; Branding helps the buyers to properly evaluate the quality of the products; Branding helps the buyers to reduce the risks relat ed to purchase (Stafford and Faber, 2005, p. 139). From the perspective of the sellers branding helps the sellers to differentiate the offerings from that of the competitors; Branding also helps the sellers in market segmentation via creation of tailored made images, e.g. contact lenses is to Fast track; Brand helps the companies to reduce price competition that in leads to reduction of chances of price wars; Branding helps the marketers to launch new product that may carry the name of one or more products. This technique is well known as brand extension. This helps the company to reduce the risks related to introduction a new product; successfully... From this research it is clear that branding helps both the buyers and the sellers. From the perspective of a buyer branding helps the buyers to identify the products that the buyers like or dislike; it helps the buyers to identify the desired marketer; Branding helps the buyers to properly evaluate the quality of the products; Branding helps the buyers to reduce the risks related to purchase. From the perspective of the sellers branding helps the sellers to differentiate the offerings from that of the competitors; Branding also helps the sellers in market segmentation via creation of tailored made images, e.g. contact lenses is to Fast track; Brand helps the companies to reduce price competition that in leads to reduction of chances of price wars; Branding helps the marketers to launch new product that may carry the name of one or more products. This technique is well known as brand extension. This helps the company to reduce the risks related to introduction a new product; successf ully brand building exercises helps the company to increase brand loyalty; Branding also help the marketers to charge premium prices for a particular brand. A part from the core benefits successful brands also help the companies to deliver added value Such added values help the brand to differentiate the products from that of the competitors. I practices properly brands can help the customers recognize the added value which may lead the customers to make the final purchase. A consumer may be looking for assurance of quality under probable circumstances where the customers are not sure about the final purchase decision.