Assessment: ESSAY Research Presentation - Examine a National Premium Brand
Assessment Overview: Research and write a discussion paper on Fashion Premium Brands and their relationship with consumer behavior.
Assessment Instructions: Research and critically analyse the statement presented below and present your findings in a referenced discussion paper.
"Within the fashion industry, premium brands are in step with the lifestyles, values and attitudes of modern society and culture through brand recognition, product innovation and a strong consumer base".
Address the various issues, and consider the relevance and comparisons to other products and services.
Research for this report will involve both primary and secondary sources of information. Primary sources of information could include your own observations and, where possible, interviews with any relevant parties (e.g. consumers, suppliers, etc.).
Secondary sources of information will include undertaking appropriate literature research on articles, publications and journals that comment on addressing consumer behavior with regards to brands and the extent to which this has an impact in contributing to the brands' success.
(e.g. Unconventional Business Wisdom for the refined entrepreneurial mindset - by James D. Roumeliotis)
Ideally, the paper should display a well-balanced argument and critique in the following areas: (MUST INCLUDE ALL THIS IN TO MAKE SURE YOU ANSWER CORRECTLY THE REQUEST OF THIS PAPER!!!)
- How does buyer sophistication affect the purchase of a premium brand product?
- The investment in points of difference in Premium brands in their product/service strategy
- If consumers do not perceive the relevance, distinction and appeal of the brand, will they purchase a cheaper alternative?
- Is design innovation and quick turnaround times applicable to fashion premium brands to avoid designs being 'copied' quickly?
- Do 'history' and 'heritage' brands still hold their value? Do premium brands need to have these 'traits' to be deemed a prestige brand?