With the COVID-19 pandemic dominating their thoughts and minds, apparel executives are preparing for a variety of situations and hopeful for a fast global recovery. However, in the face of rising success pressures, shifting market behaviors, and increasing demand for digital, there is an urgent need to act decisively in order to plan for the next standard brand identity. Branding knitwear garments Bangladesh is an important topic this time.
Following a year in which the apparel industry reported record-low economic earnings, corporate executives are on the offensive, attempting to reinvent while remaining engaged with their core constituencies. With the recent uncertainties, many businesses are reconnecting with their supply chains, making difficult choices (for example, on ROI at the store level), and ramping up Omni channel offerings.
BRAND IMAGE VS BRAND IDENTITY
We often see these two words used interchangeably, and although there seems to be a minor difference between them, it may speak volumes on how you want to use your marketing dollars.
Brand identity refers to how you expect your product or brand to be seen by the customer. It contributes to the identity of the commodity, service, or organization. It is the voice that you provide to services.
Market view of the product or logo is referred to as brand image. It’s what they’re hearing.
There are many aspects that contribute to the formation of a brand image, some of which you have little influence over. This emphasizes the significance of the variables under your influence, such as the strategic decisions you make on your brand and marketing activities.
The insight is the main distinction between brand appearance and brand identity.
The brand name is directly managed by the brand owner, while the brand logo describes the abstract view from the outside. The brand name expresses how the brand owner wishes to be viewed.
The explanation a good brand reputation is such a powerful market booster is often assumed to be its high visibility. However, brand recognition only defines the reach of the achieved brand name, not its substance.
A positive brand picture is often the product of brand recognition and attractiveness. Ratiopharm is a prime example: The brand stands out in the conservative, homogeneous pharmaceuticals market because of its broad marketing strategy, which has been consistent for over 20 years and has created a likeable, self-similar image with the public.
Where there is positive traction, digital channels will continue to be the primary catalyst, reflecting the pattern developed prior to the COVID-19 crisis and people’s aversion to assemble in crowded environments in many countries. Indeed, latest statistics indicate that we have accelerated customer and company digital adoption by five years in a matter of months.
The world business economy is transforming more than ever before, and there is fierce competition as a result of increased globalization. As our natural resources get scarcer and more expensive, the low-cost hunting tool for doing business is becoming less important. Thus, the importance of implementing innovative techniques, such as branding one’s own goods, would be critical in maintaining a viable company in the global market.
The success of the Bangladeshi clothing industry can be praised because of its export values and employment of more than 35 million people, with women accounting for roughly 80% of the workforce. The previous year’s export volume of Bangladeshi-made apparel was second only to China on a global scale. McKinsey&Company, a US-based consultancy firm, dubbed Bangladesh the “next China,” and forecast the Bangladesh knitwear garments more than 43 billion USD by 2020.
Though ‘Brand’ is listed as a trademark associated with a product or company, it is actually a customer impression formed against that trademark or that specific product. A brand is a corporate name established by a generic product in order to differentiate it from rivals (Penman, Textile Branding).
Earlier in history, humans started to leave a label to indicate possession of land, membership in a community or clan, or to recognise political and religious influence, which is now known as branding. A brand name still quietly carries a bundle of intangible qualities, and among these attributes are consistency and dependability of the manufacturers.
A nation, a location, or a product can all be branded separately, but they are all interconnected and can all lead to country branding. Product branding is always more adaptable than country or location branding. Companies are free to make changes to a product after it has been launched in response to customer demand, but a country cannot substitute the location or country branding.
Bangladeshi clothing is not yet a household name. The majority of our output is geared toward delivering buyer brands to the market. Bangladesh is gaining a win-win situation in which the brands invest in the requisite marketing to get consumers to their stores and we manufacture high-quality clothing in a safe atmosphere. The composition of the Bangladeshi clothing industry has evolved over the last few decades.
The denim industry serves as a vital backward connection for the garment industry. Contact BGMEA to get Bangladesh denim factory list or directory. As we all know, the textile-clothing production chain is one of the longest and most dynamic global production chains, with intricate interrelationships between various processes and sub-processes.
Bangladesh garment industry dominates the country’s economy by exports. Among the various ways of doing foreign business, exporting is the most secure business practice. The benefits of doing export business include low risk, high versatility, and a low profit margin.
The self-entry style of doing foreign business is highly lucrative, recognized, and provides more leverage over the business, but it is also dangerous and limited in versatility. Branding clothing products on a global scale necessitates a mode of self-entry.
Before going global in apparel branding, a particular country must ensure its market strength in the country, which is referred to as the “laboratory exam.” The pass-fail outcome would also include guidance and instructions for what to do in terms of corrective action prior to joining the global market.