Purpose
Through having a purpose, a brand can create a unique selling point to fulfil a gap in the market or specific consumer needs. Furthermore, a purpose – or brand philosophy – helps a brand to maintain consistency within its products. A mission refers to the initial purpose of a brand, the vision is how a brand aspires to be and the future goals, and a brand’s values are the core beliefs of the brand which act as an undertone to everything that the brand creates.
Brand philosophy is important for targeting specific target markets, particularly as focus is shifting to Gen Z. This demographic prioritizes a brand’s values and how it’s contributing to society in a positive way (McKinsey, 2020). Gen Z have shown an increased demand for corporate social responsibility (CSR) defined by the European Commission (2017) as “companies taking responsibility for their impacts on society”. CSR has become synonymous with sustainability as more people are becoming aware of the importance of not sacrificing the future of global society to benefit the goals of the present day (Londrigan and Jenkins, 2018). One brand which has made it a point to align their brand philosophy with sustainability is Nike who aim to improve supply chain transparency and incorporate sustainable materials. Nike’s vision involves three goals: “to minimize their environmental footprint, to transform it’s manufacturing, and to unleash human potential” (McGregor, 2016). By creating this clear vision which aligns with many values of millennial and Gen Z consumers, Nike appears more appealing to such consumers and thus increase in popularity and profit.
However, simply having a brand philosophy is insufficient, brands must successfully communicate their purpose. To do so, with Gen Z, brands must first learn how to access the market. Many Gen Z consumers often gravitate to smaller areas of the internet for a more intimate experience. This applies to gaming platforms which have potential to draw in massive crowds, for example, Travis Scott’s 2020 concert on Fortnite which gained an audience of 27 million players (Wilson, 2021). Nike communicate their brand philosophy by collaborating with influential figures, such as Billie Eilish – a Gen Z singer with great influence averaging 67.9 million listeners a month on Spotify alone (Spotify, 2023). This collaboration promotes sustainability as the shoes are made of waste materials from Eilish’s prior AF1 collaboration (Nike, 2022). This strategy ensures that the brand’s value of sustainability reaches their target market to make them aware that Nike is a brand who they want to support.
Bibliography:
Billie Eilish (2023) Spotify.
Available at: https://open.spotify.com/artist/6qqNVTkY8uBg9cP3Jd7DAH (Accessed: 26 October 2023).
European Commission (2017), Corporate Social Responsibility (CSR).
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Londrigan, M.P., & Jenkins, J.M (2018), Fashion Supply Chain Management. Fairchild
Available at: https://www-bloomsburyfashioncentral-com.arts.idm.oclc.org/encyclopedia-chapter?docid=b-9781501317798&tocid=b-9781501317798-chapter3&pdfid=9781501317798.ch-003.pdf (Accessed: 26 October 2023)
McGregor, L. (2016) Nike raises its sustainability game, sets new supply chain goals for 2020, Sourcing Journal. Available at: https://sourcingjournalonline.com/nike-raises-its-sustainability-game-sets-new-goals-for-2020/ (Accessed: 26 October 2023).
Nike x Billie Eilish AF1 Low (2022) About.nike.com. Available at: https://about.nike.com/en/newsroom/releases/nike-x-billie-eilish-af1-low (Accessed: 26 October 2023).
Rahilly, L., Finneman, B. and Spagnuolo, E. (2020) Meet Generation Z: Shaping the future of Shopping, McKinsey & Company. Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/meet-generation-z-shaping-the-future-of-shopping (Accessed: 26 October 2023).
Wilson, S. (2021), “Where Brands Are Reaching Gen Z”, Harvard Business Review
https://hbr.org/2021/03/where-brands-are-reaching-gen-z