Purpose

Purpose is the final pillar and represents a brand’s greater aim and philosophy. Although generating profit is a significant aim for brands, their purpose involves the brand’s goals outside of commercial success. Purpose explores why a brand exists and what they seek to contribute to the world. It is also the central motivation that drives a brand’s evolution and trajectory. Having a greater sense of purpose creates a greater sense of trust in a brand and by standing for a purpose greater than just profit, they can connect with consumers on a deeper level (Lowe, 2023).

Consumers, especially younger generations (such as Gen Z), may pay more attention to a brand’s purpose to ensure that it aligns with their own ethics and morals, with younger people being more passionate about activism than past generations. Gen Z are also getting older which means they are becoming more influential in the market with higher purchasing power. Due to this, brands would benefit from communicating their purpose to Gen Z consumers; especially since it can build customer loyalty. Social media is an effective way of doing so with Patagonia’s bio across numerous platforms such as Instagram and Twitter being their mission statement: ‘We’re in business to save our home planet”. This makes their purpose as a sustainable, environmentally friendly brand clear to their consumers which may draw environmentally conscious consumers towards them. A survey by McKinsey showed that 70% of respondents try to purchase products from companies they consider ethical and 65% try to learn the origins of anything they buy, including how the product is made, where it’s made and what it’s made from (McKinsey & Company, 2018).

A brand’s philosophy is composed of their mission, vision and value proposition. The mission statement is a brief yet effective summarisation of the brand’s core aims, focusing more on the ‘now’ of the brand, while a vision statement communicates what the brand ultimately aspires to achieve in the future. A value proposition should clearly explain how a product benefits the consumer and fills their need as well as how it is the best option compared to competitors to appeal to the consumers’ decision making drivers (Twin, 2023). Patagonia’s mission statement provides another strong example which firmly shows their stance on environmentalism and sustainability. Nike’s vision statement is to ‘Bring inspiration and innovation to every athlete* in the world’ with the asterisk leading to another sentence saying ‘*If you have a body, you are an athlete’. This shows their inclusivity as well as their determination and ambition to be the leading force in the sportswear industry, which would appeal to consumers; especially ones who are more athletic and/or competitive.

Ultimately, purpose is essential for moulding a brand’s core character which can make it seem much more magnetic to consumers due to increased authenticity and characterisation as consumers can build a stronger connection to these brands.

Bibliography

Figure 1 – Image Credit: Brand Language Design

Francis, T. & Hoefel, F. (2018). ‘True Gen’: Generation Z and its implications for companies. McKinsey & Company. [Online] Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies

Lowe, A. (2023).  Fashion Brand Management : Plan, Scale and Market a Successful Fashion Business. Kogan Page, Limited. [Online] Available at: http://ebookcentral.proquest.com/lib/ual/detail.action?docID=30353244.

Nike. What is Nike’s mission? [Online] Available at: https://www.nike.com/help/a/nikeinc-mission

Patagonia. Patagonia’s Mission Statement. [Online] Available at: https://www.patagonia.com.hk/pages/our-mission

Twin, A. (2023). Value Proposition: How to Write It With Examples. Investopedia. [Online] Available at: https://www.investopedia.com/terms/v/valueproposition.asp#:~:text=A%20value%20proposition%20should%20clearly,customer%27s%20strongest%20decision%2Dmaking%20drivers.