Purpose
A brand purpose is essentially a brand’s reason for being beyond making money – it’s a framework that guides business decisions and thought processes. （Don’t Panic,2022)Purpose is an attempt to show a brand’s value proposition in terms of its personification and describe it as a proposition and pursuit. This is something that many brands are currently trying to shape and promote.
Brand Philosophy can be defined as the set of values, code of ethics, and principles that define the overall ambience and culture of the organization and formulating the business practices of the firm.（Hitesh, 2023)A brand philosophy can help a brand to find its own reason for being and to identify with the values of its consumers. It builds a bridge of trust with consumers and brings a positive impact on society.Therefore, brand philosophy is a direct or indirect expression of a company’s social responsibility. In the process of fulfilling its social responsibility, a company not only enhances its brand value, but also realizes comprehensive benefits through the positive impact it brings to the society.Generation Z is already the most promising consumer of this era, and they need to find identity in brands.Bo Finneman: ‘I think there’s a real authenticity to the Gen Z generation in saying they want to breathe new life into what corporate responsibility looks like. And one of the biggest elements that’s come out of the research in the last few years has been the focus on values. They’re looking beyond tangible products and actually trying to understand what is it that makes the company tick.（McKinsey & Company, 2020)For example, Nike has partnered with Billie Eilish in an effort to advance solutions to sustainability issues. They released a shoe that was pieced together from leftover waste materials from the previous AF1 High. This collaboration not only emphasizes the importance of recycling, but also reminds consumers of the need to better protect the environment and take care of our planet. (Nike, 2022) In this way, the company took on social responsibility while also promoting the brand’s philosophy and deepening its connection with consumers.
First, brands need to pay attention to social hotspots related to their values, proactively take on social responsibility, and strengthen their positive influence on society so as to further consolidate consumers’ trust in the brand. Secondly, as Generation Z is highly active in the internet and social media, brands should reasonably utilize social media to reach a wider range of Generation Z people. And find the right influencers (Janet, 2023) to export the brand’s philosophy by telling the brand’s own story, establishing a reliable and solid connection with young Gen Z in a personally relevant and authentic way. Finally, brands can also bring together people who share common interests and values, encouraging them to share their inspiration and voice in such intimate circles, and then launching targeted guides for these small groups of people gathered to inspire them to make branded content their own, thus capturing more potential customers.
Don’t Panic. (2022) What is brand purpose?[Online] Available at: https://www.dontpaniclondon.com/what-is-brand-purpose/[Accessed 29.10. 2023].
Hitesh, Bhasin. (2023) What is brand .[Online] Available at: https://www.marketing91.com/what-is-a-brand/[Accessed 29.10. 2023].
McKinsey & Company. (2020) Meet Generation Z: Shaping the future of shopping . [Online] Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/meet-generation-z-shaping-the-future-of-shopping[Accessed 29.10. 2023].
Hitesh, B. (2023) What is brand .[Online] Available at: https://www.marketing91.com/what-is-a-brand/[Accessed 29.10. 2023].
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 29.10. 2023].
Janet, B. (2023) How the best brand-influencer partnerships reach GenZ .[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 29.10. 2023].