1. Explain in your own words why we need brands?
We need brands because they have personalities and products that we relate to and prefer. Without brands, everything would be generic and we would not be able to express ourselves accordingly. Each person finds brands they love because it is similar to their style and attitude, it is an expression of themselves with the help of a designer.
2. The promise of the value is an important element of any brand. Explain its concept and its relevance to the brand.
Values are the ultimate reason for our purchase and the answer to the most important question: “Why should I buy this brand?” Values can be about self-esteem or a sense of belonging to an elite group as in the case of luxury and designer brands, value for money as in the case of mass-market and budget brands, or search for heritage and leadership.
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 two terms work together in defining it?
A brand needs to be in tune with the times, and in sync with customers' needs and aspirations. It needs to respond to economic, technological, and generational needs and developments.
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