FSN 400 Lecture Notes - Lecture 11: Value Proposition, Fast Fashion, Haute Couture
29 Mar 2020
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What"s branding: a communication exercise on/about, competitive advantages, value propositions, tangible and intangible attributes. Fleshing out competitive advantage: there are 4 key types of competitive advantages that any business or company can deploy, cost advantage, product/service is similar to competitors but costs less (ex. Fast fashion brands: differentiation advantage, the product/service isn"t offered by competitors (ex. Haute couture houses: niche advantage, narrow specialization of the product/service (ex. Fashion for wheelchair users: sustainable advantage, product/service is produced or retailed in a socially and/or environmentally conscious manner. Fleshing out value proposition: value proposition, the value product, service or company promises to deliver to customers. Identify all the product/service benefits: describe what makes these benefits valuable. Identify your customer"s main problem: connect product/service values to consumer"s problem, differentiate your product/service as the preferred provider of this value. Jingles still matter: they can make your value proposition stand out and catchy, website structure.
