PURPOSE
The purpose of a brand is its direct aim (which was set during the creation of the brand) and is the last pillar in the fashion business industry. In simple terms, a company’s purpose is its goal (usually its long-term goal, which can be one or many). Purpose helps create value in the long run for all the various stakeholders involved.
A brand’s philosophy comprises its mission, vision, and value proposition, and a company can showcase its “most authentic self” (Silva, 2020). While a brand’s mission operates more towards the brand’s current trajectory, the same company’s vision could be completely different. The vision is usually focused towards steady and valuable growth within a brand. A value proposition is created when the company itself, its target customer’s needs, and its products all interlink together. Below is a diagram illustrated by Jones and Waddell (Medium, 2019) that demonstrates this idea in a more straightforward manner.
How a brand transcribes and markets its purpose to its target audience also plays an essential role in increasing profit. For example, a study recently found that 74% of consumers in the UK read and research a brand’s purpose and values before making their purchase (Bishop, 2021). Similarly, Gen Z is more highly likely to buy from a brand whose purpose matches its values, which is why it is imperative that companies effectively communicate their brand philosophy and purpose to their targeted consumers to increase sales.
Brands like Netflix and Nike have time and time again been found to stand for their “social activism” (Curry, 2020) in a very public manner which has always attracted more and more customers their way – because consumers, now more than ever, are expecting brands to act against social wrongdoings to bring about fast and radical change. Makeup brand Charlotte Tilbury partnered with a UK charity called ‘Women for Women’ and pledged to donate over £1 million to empower women across the globe (Barnett, 2022) – this acts as an excellent example of a brand that stays true to its purpose while also engaging in positive goodwill, which adds to their brand image. As consumers become more familiar with sustainable terms such as upcycling, they become attracted to brands that use their manufacturing capabilities to create sustainable garments using similar methods. Upcycling gives “multiple lives” to a garment, and such is the creation of UK-based designer Gary Harvey’s pieces (Gwilt, 2020). Below is a collage of some pieces made using upcycled clothes by Harvey for the 2011 Oscars (Firth, 2011).
REFERENCE LIST:
Barnett, D. (2022) What Brands Can Learn From Charlotte Tilbury On Instagram, Fashionmonitor.com. Available at: https://www.fashionmonitor.com/blog/T62/what-brands-can-learn-from-charlotte-tilbury-on-instagram (Accessed: November 5, 2022).
Bishop, E. (2021) 74% of UK consumers consider brand values before purchasing, Market Business News. Available at: https://marketbusinessnews.com/consumers-consider-brand-values/270190/ (Accessed: November 5, 2022).
Curry, L. (2020) How brands can follow through on the values they’re selling, Harvard Business Review. Available at: https://hbr.org/2020/08/how-brands-can-follow-through-on-the-values-theyre-selling (Accessed: November 5, 2022).
Firth, L. (2011) Gary Harvey: A man for all awards seasons, British Vogue. Available at: https://www.vogue.co.uk/article/gary-harvey-creates-livia-firths-oscars-dress (Accessed: November 4, 2022).
Gwilt, A. (2020), “A Practical Guide to Sustainable Fashion.” London: Fairchild Books. page. 148.
Silva, P. (2020) Why philosophy has much to do with brand-building (and what that looks like), Forbes. Available at: https://www.forbes.com/sites/piasilva/2020/11/19/why-philosophy-has-much-to-do-with-brand-building-and-what-that-looks-like/?sh=1e868d0371f9 (Accessed: November 8, 2022).
PHOTO –
Firth, L. (2011) Gary Harvey: A man for all awards seasons, British Vogue. Available at: https://www.vogue.co.uk/article/gary-harvey-creates-livia-firths-oscars-dress (Accessed: November 4, 2022).
Waddell, S. and Jones, J. (2019) How to identify your brand’s value proposition, Medium. Available at: https://medium.com/swlh/how-to-identify-your-brands-value-proposition-62611e6c59e4 (Accessed: November 5, 2022).