Purpose
Purpose, the pillar that encapsulates the true meaning behind any brand, from the reasons for its creation, to the ambitions they strive to work towards, purpose is the foundation a business is built on.
A brand’s philosophy, which includes their mission, vision, and value proposition, is essential to its success, due to its ability to give a brand a sense of identity, thereby differentiating them from their competitors. In correlation to Mitterfellner’s (2023) six aspects of luxury, she describes the output as what they are currently doing, its vision as where the brand intends to go, and its values as their beliefs, clearly demonstrating the necessary requirements into discovering a brands purpose. Establishing a mission to work towards other than just profit, allows a business to function with a CSR. A corporate social responsibility, the idea of a business taking into consideration the environment and communities around them and choosing to help them in some way (Londrigan and Jenkins, 2018), provides a USP which can attract a variety of different consumers. Brands such as Stella McCartney are notorious for the CSR and sustainable practices in which they operate, known for their transparency they have with their customers, providing information on their supply chains (Stella McCartney, 2023).
Now, where the newest customer is Generation Z, business must consider their preferences to effectively communicate their products and services towards the demographic. For example, the large stance they have on sustainability, with 61% of Gen Z consumers stating that they would pay more for a product that is provided by a business which is sustainable and socially responsible (Londrigan and Jenkins, 2018). In addition to these strategies, the use of influencers at the forefront of its marketing to communicate their purpose, has been proven successful, given the impact social media has on the generation (Balis, 2023). The partnership of these two ideas, in the form of brand and celebrity collaborations, creates a platform to raise awareness whilst engaging a pool of young consumers. Such as the Nike X Billie Eilish AF1 Low collaboration, where Billie Eilish comments on wanting to highlight the importance of recycling and acting to better the planet. In doing so, the trainers were created using the leftover material waste from the singer’s prior collaboration with Nike, the AF1 High, promoting the sustainable practices that Nike are striving towards (Nike, 2022), like so many others, distinguishing a business’s true purpose.
Reference list:
Balis, J. (2023), ‘How the Best Brand-Influencer partnerships Reach Gen Z’, Harvard Business Review, (Online), Available at: https://artslondon-my.sharepoint.com/personal/r_zilkha_fashion_arts_ac_uk/_layouts/15/onedrive.aspx?id=%2Fpersonal%2Fr%5Fzilkha%5Ffashion%5Farts%5Fac%5Fuk%2FDocuments%2FFBS%20Intro%20To%2FFBS%2DIntro%20To%202023%2FLectures%20and%20Seminars%2FWeek%205%2FHow%20the%20Best%20Brand%2DInfluencer%20Partnerships%20Reach%20Gen%20Z%20new%2Epdf&parent=%2Fpersonal%2Fr%5Fzilkha%5Ffashion%5Farts%5Fac%5Fuk%2FDocuments%2FFBS%20Intro%20To%2FFBS%2DIntro%20To%202023%2FLectures%20and%20Seminars%2FWeek%205&ga=1 (Accessed 24/10/23).
Londrigan, M.P., and Jenkins, J.M. (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#page-41 (Accessed 28/10/23).
Mitterfellner, O. (2023), ‘Luxury Fashion Brand Management: Unifying Fashion with Sustainability’, New York: Routledge, (Online), Available at: https://ebookcentral.proquest.com/lib/ual/reader.action?docID=7260416(Accessed 28/10/23).
Nike, (2022), ‘Nike x Billie Eilish AF1 Low’, (Online), Available at: https://about.nike.com/en/newsroom/releases/nike-x-billie-eilish-af1-low (Accessed 24/10/23).
Stella McCartney, (2023), ‘Social Responsibility and Human Rights’, (Online), Available at: https://www.stellamccartney.com/gb/en/sustainability/social-sustainability.html (Accessed 28/10/23).