Chapter 7
Given the discussion on mass customization, the model seems to hold new opportunities for young entrepreneurs considered to establish a new business. Highlight the advantages and challenges of the model from an entrepreneurial perspective.
One of the biggest challenges faced in mass customization is the mind-set change. The fashion industry is established on creativity and designers may not easily accept the am environment of branding. Also maintaining the brand image and integrity is a huge challenge. " Adopting mass customization is not an immediate guarantee of 100 percent sales" (Hameide, 235).
Compare the way luxury and mass-market brands adopted the new technologies. What are the opportunities and challenges that each segment may encounter?
It has proven to be a great platform for linking customers and producers, that creates a strong relationship and interaction with the brand and it producer. Luxury brands reach out to their customers and create a very personal experience and exclusive. Mass-market brands use social media to interact with their target markets and become popular. "The greatest impact of wireless technologies and all technologies referred to in this chapter lies in their potential for high interactivity and the fact that they establish a two-way channel of communication that is dramatically different from how one-directional traditional marketing has been" (243).
Based on the chapter arguments and your personal analysis, how would you interpret the term iBrand?
"Established are a few important trends that are here to stay, such as the rise of the consumer and user as the true marketer behind the brand" (254). The iBrand is the use of technology for the growth of the brand and reach new levels of marketing.
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