Week 1 EOC: Discussion Questions

1. Explain in your own words why we need brands.

I think “need” is a really strong word, but for other people it can be a “need”. Brands were made to define a lifestyle, and who could afford that lifestyle. These brands were created for those needy people who wish to be a part of that lifestyle. Without brands we would have dull boring people walking around the streets of Vegas without emotion. With brands I feel that people define themselves as THAT brand, it’s like they get to choose whom they want to become by the brands they can afford. I honestly think that’s why we need brands. 

2. The promise of value is an important element of any brand. Explain the concept and its relevance to the brand.

Value is becoming a great deal now. I feel like most people shop for inexpensive things when they are disposable. When it comes down to staple pieces that you can use for 1-2 years you would rather spend the money for a great quality fabric, or piece. It’s good look at your options, and use the process of elimination so you can rule out some pros and cons about the product, before making a choice. Value is in the eyes of the beholder. So any company that makes a product can claim their products are of value, but are they really that valuable? 

3. Innovation and consistency may seem to be two contradicting notions. What does each term mean in relevance to the brand, and how do these terms work together in defining it?

Here is a little quote from the book that explains a little bit about innovation and consistency “Whereas innovation is about change, consistency seems to be all about standardization and conformity. In reality, the two terms complement each other perfectly. Brands have life cycles where they start small, grow, and can eventually die if not well-nourished and rejuvenated.” In my opinion you can create both a product and innovative, but you still can keep your product consistent and that’s what consumers like within a product. Something new that won’t change and still is of great value and quality.