PURPOSE
Purpose allows a brand to see where they currently are and evaluate where they want to be in the future. Corporate Social Responsibility describes the responsibility businesses hold in improving the quality of life of all their stakeholders. From their employees to the local community in which they reside, business play a role in creating positive change. Environmental sustainability is also a critical component of CSR which involves using resources to benefit the current generation without compromising the needs of future generations.Possessing a strong sense of CSR creates a sense of trust between the business and their consumer, as many ethically minded consumers value when brands are transparent and honest about their production process. The consumers also gain a feeling of goodwill knowing they are purchasing products from a philanthropic brand who invests significantly into charity (Londrigan and Jenkins, 2018). In addition to attracting a certain consumer base, brand philosophy also provides the business with a strong sense of purpose and direction answering questions such as: Why does the brand exist? What are the future ambitions of the brand? What is important to the brand? Answering these questions allows a brand to build a unique identity and strong aims and objectives, aiding the business to maintain a trajectory for success by informing important business decisions.
However, brand philosophy is only beneficial if it is authentically believed and not just performative. Increasingly, brands are expected to take a stance on social and political issues as Gen Z, being a more ideological and politically aware generation, do not hesitate to boycott brands which do not align with their personal beliefs. Therefore, it is vital that businesses follow through with every pledge and claim they make (Curry, 2020). Gen Z seek to breath a new life into the traditional approach to CSR, so when brands communicate their purpose to the generation, they must place emphasis on their values, as this is what Gen Z prioritise when making purchasing decisions (Rahilly, Finneman and Spagnuolo, 2020).
Nike have identified individuality as one of Gen Z’s key values. The Nike x AMBUSH Collab (Nike 2023) understands and accepts the fluidity of gender identity and conveys its support to the LGBTQ+ community through creating a line of unisex clothing. By injecting a femme energy into the clothing, it also opens up the sporting space to people who once felt rejected by the industry for not fitting to the traditional conforms of a sportsperson.
Overall, purpose is essential when creating a vision for the brand. It associates a positive image to the brand which attracts consumers whilst also informing key business decisions.
BIBLIOGRAPHY
Curry, L. (2020) Corporate Social Responsibility: How Brands Can Follow Through on the Values They’re Selling. Harvard Business Review. Harvard Business Publishing. (Online) Available at: https://hbr.org/2020/08/how-brands-can-follow-through-on-the-values-theyre-selling#Accessed on: 26/10/23
Londrigan, M., and Jenkins, J. (2018). Fashion Supply Chain Management. New York: Fairchild (online) 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 on: 26/10/23
Nike (2023). The Nike x AMBUSH Collection Amplifies Sport, Style, Self-Expression. NIKE, Inc. (Online) Available at: https://about.nike.com/en/newsroom/releases/the-nike-x-ambush-collection-amplifies-sport-style-self-expression Accessed on: 26/10/23
Rahilly, L., Finneman, B., and Spagnuolo, E., (2020) Meet Generation Z: Shaping the future of Shopping. McKinsey & Company. (Online). Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/meet-generation-z-shaping-the-future-of-shopping#/ Accessed on: 26/10/23.