{"id":5,"date":"2017-05-17T07:00:58","date_gmt":"2017-05-17T06:00:58","guid":{"rendered":"http:\/\/www.utelier.com\/blog\/?post_type=toolkit&p=5"},"modified":"2024-02-19T19:27:11","modified_gmt":"2024-02-19T19:27:11","slug":"5-no-brainer-tips-increase-brand-value","status":"publish","type":"post","link":"https:\/\/fashioninsiders.co\/marketing-sales\/5-no-brainer-tips-increase-brand-value\/","title":{"rendered":"5 No-Brainer Tips to Increase Brand Value"},"content":{"rendered":"
Brand value. This simple two-word phrase is absolutely vital for your fashion business.<\/p>\n
Branding is the process of creating a particular design, symbol or name that is immediately identifiable to consumers and sets that brand apart from their competitors with a consistent theme that builds a loyal customer base.<\/p>\n
Successful branding means that an opinion or emotional thought comes to the consumers\u2019 minds when they recall a certain brand. These opinions and emotions are often formed through personal memory with a product, the functional benefits that the product provides to them, or the way they feel when a purchase is made from that brand.<\/p>\n
Read: How to launch your Fashion Business<\/a><\/p>\n Marketing mavens of past and present believe purchases are made \u2013 and future customers are secured\u00a0\u2013 when the values or feelings that a brand exudes creates a satisfying connection between consumer and product. This is the essence of brand value.<\/p>\n The characteristics associated with a brand allow a consumer to express himself or herself, or an ideal self, by purchasing their products. This is because the brand expresses values that the consumer already has or that they wish to possess.<\/p>\n Nike<\/a> is the perfect example of why branding is such a valuable asset. According to Brand Finance<\/a>, the world\u2019s leading independent brand valuation and strategy consultancy, some of the biggest names in its \u201cMost Valuable Apparel Brands of 2017\u2033 list include Nike. By ranking higher than luxury brands like Louis Vuitton and Gucci, the question arises as to what \u2018valuable\u2019 truly means.<\/p>\n Nike does not produce products with expensive leathers and luxury furs, so brand value does not necessarily mean highly-priced goods. That is not to say that a portion of Nike\u2019s brand value cannot be attributed to the quality of their products. The majority of their value comes from more than just leggings that won\u2019t show sweat stains \u2013 it comes from Nike\u2019s brand attributes such as accomplishment, strength, and determination.<\/p>\n The desire to connect with a brand\u2019s personality dominates the desire to buy a product just because it\u2019s a popular colour or fabric.<\/p>\n Nike is only one example of this, companies worldwide have made connections to consumers via branding \u2013 think of what a Happy Meal means to a Western child and\/or family \u2013 and if it is done successfully, it is like a happy marriage. And, that is more valuable than any number of sales, because it means longevity: repeat sales, a strong clientele base, striking envy in your competitors (wanting to do better is healthy in business after all), and the good word spread that your product is awesome, which is all the stuff you need to build a business on.<\/p>\n <\/p>\nWhat does brand value mean to consumers?<\/h3>\n
How to increase brand value<\/h3>\n
Do I have to brand my small business?<\/h3>\n