Friday, September 4, 2009
Importance of Brand in the Apparel Industry
Building a recognizable and dynamic product brand is very essential to distinguish your business from others and taking it to the next level.The name and logo you create will ultimately help your products to be recognized. This is the reason why quality branding is necessary.
Today's global market witnesses a cut-throat competition. Many new products enter the market, stay for a while, and then they become out-of-dated. Fads come into existence and vanish even quicker than they appear. Rapid changes in the consumers' choices, increase in their disposable income, globalization, media exposure, and influence of global and psychological trends attribute to this behavior.
In order to sustain themselves in the market, it is necessary for every manufacturer to build a 'brand image' for his product in the market. This is more important for apparel makers as garments have a short life cycle and trends keep changing every now and then. Brands create the strongest competitive advantage for the manufacturer, and the retailer.
To compete in the domestic as well as the international market, creating, and sustaining a strong brand image is necessary. Some apparel makers attempt to create a brand for their product in the global market, while many others just supply to retail chains according to their specifications.
Branded apparels not only add a stylish image to the apparel, but it also gives something extra to the consumers. It enables them to create perceptions about the value of the apparel and the brand itself. The value of the brand or the 'brand equity' is the difference of cash the customer pays for a non-branded garment, and a branded one.
The customer can buy a similar apparel somewhere else; without the label and for a lesser price as well. But, a branded apparel with a label on it gives a status symbol to the customer thus satisfying his ego. The reputation that the brand image carries helps in promoting the product among status savvy consumers.