Reference no: EM133460031 , Length: word count:3000
Background
At the beginning of 2023, Forbes published Brand Strategies and Big Ideas for 2023. In this article they identified 8 key brand trends for this year, X of these being:
1: Civic-Centered Commerce
Whilst brands may not see themselves as activists, there is a trend towards civic commitment. Doing well by doing good for a community will be one of the key factors distinguishing brands that follow this trend.
2: All Abilities Brandscapes
Recognising and empowering consumers of all abilities (physical or mental) is a trend adopted by some brands e.g. Ikea's new shoppable docuseries, Belonging at Home, focusing on interior design for neurodivergent minds.
3: Look Up: Midlife & The ‘Queenagers'
By celebrating ‘Queenagers' (45+ women) some brands are challenging gendered ageism. It is estimated Queenagers drive 95% of all household purchases and outspend younger women by 250%. Brands picking up on this trend focus on Gen X women in its marketing.
4: Recasting Consumption: Newness in a time of non-Abundance
There is a growing trend for brands to provide circularity in their products and or services as part of their proposition e.g. in store repair stations, rentals and conservation.
5: Wellbeing Trips: All the Feels Health
Blending media and brands is an emerging trend e.g. branded Room to Breathe, a 15-minute, immersive sensory experience teaching breathwork skills to reducing anxiety (a collaboration between Panadol and Pixel Artworks).
Article - Predictions For A Permacrisis: Brand Strategies & Big Ideas For 2023 by Katie Baron
Task
You are to examine opportunities and propose a new fashion and /or lifestyle brand together with a brand strategy that embeds one of the five predictions identified above i.e. Civic-Centered Commerce, All Abilities Brandscapes, ‘Queenagers', Newness in a time of non-Abundance or Wellbeing Trips.
Drawing on your photoshop skills, your work will be presented in an illustrated portfolio. Along with a Table of Contents, an introduction and conclusion, the portfolio will include the following sections:
1.0 Introduction: provide background/context to your chosen prediction, outline the purpose of the portfolio and introduction the reader to the various sections of the report.
The Brand and Brand Strategy: describe your newly created innovative and differentiated brand conceived in the spirit of your chosen prediction. In doing so, produce a brand strategy to support the brand. Note, a brand strategy is a long-term plan for the development of a successful brand. It is directly connected to consumer needs and is cognisant of the competitive environment in which the brand operates.
Components of the brand strategy are:
• Brand Target Audience
• Brand Positioning
• Brand Promise
• Logo/physique
• Brand Voice
• Brand Relationship
• Brand Culture
3.0 Brand Communication Objective: Relevant to the brand strategy, determine one objective for a brand communication (e.g. brand awareness; motivate to make a purchase) and state what is communicated (key message) and how it will be communicated (e.g. social media/in a physical store).