báo cáo thực tập giữa khóa BUILDING BRAND IN FASHION INDUSTRY IN VIETNAM

ACKNOWLEDGEMENT I would like to express the deepest appreciation to my supervisor, Dr Nguyen Hai Ninh, who has helped me throughout the implementation of this internship report with the enormous support and enthusiasm Without his guidance and persistent help, this study would not have been possible I would especially want to thank our very proficient correspondents for taking the time to answer all of questions and doing so with a pleasure In addition, a profound thank to Faculty of Economics and International Business, Foreign Trade University for all of what I have been receiving during the time I have been studying here Every knowledge and skills that I have been able to acquire here would be a great leverage for every success in my career path that I may accomplish in the future CONTENTS LIST OF FIGURES INTRODUCTION Chapter Theoretical framework of brand and branding 1.1 Overview of brand 1.1.1 Definitions of brand 1.1.2 Advantages of a strong brand 1.1.3 Brand dimensions 1.2 Building a strong brand 10 1.2.1 Understanding branding 10 1.2.2 Branding decisions 12 1.2.3 Brand building theories 18 1.2.4 Building brand in fashion industry 21 1.3 Summary of theoretical framework 24 LIST OF REFERENCES 25 LIST OF FIGURES Figure 1.1: The sources of brand equity Figure 1.2: Individual Product Decisions 11 Figure 1.3: Major brand strategy decisions 12 Figure 1.4: The Anatomy of a brand 14 Figure 1.5: Brand Development Strategies 17 Figure 1.6: BrandDynamics Pyramid 18 Figure 1.7: Brand Resonance Model 20 INTRODUCTION Rationale Fashion has been part of society for a long time and has been indispensable to anyone at any age If clothing is necessary to cover our bodies, protect us from the elements or to provide warmth, fashion refers to the generally accepted styles of clothing and accessories for a particular society or culture People use fashion as a means of self-expression, to show status, to communicate and to distinguish themselves from others or to identify with a particular social group Further, the fashion industry is a highly competitive market space with fashion trends are always changing makes the fashion industry a risky and unpredictable market place for producers Although being a highly creative business with the design and artistic values in the centre, the need to build a strong brand in this competitive industry is one of the greatest importance If made right, effective brand can enhance and bring out the creativity of the designer to the market and create a successful fashion company More importantly, a powerful brand can create a number of loyalty customers which will help increase the revenue, reduce costs and protect company from copy of its competitors Viet Nam recently is an emerging economy with population over 90 milion which is truly a potential market for fashion companies, especially with the textile processing industry which takes account for significant proportion However, Vietnamese fashion companies have not still had strong place in domestic market and had very low profit margin One of the biggest causes is their brands is not strong enough to compete with many famous brands in the world aslo with large amount of low quality products made from China in mass-retailing Meanwhile, brand value can makes up to 70% of the price Thus, building an effective brand is the solution which is not only suitable for the moment but also for long-term development orientation 2 Purpose of thesis The purpose of the study is to analyze the worth of branding in the fashion industry and how these fashion companies in Viet Nam can be benefited by the help of branding their products and explore the penetration of branding into the competitive environment Next, evaluating current situation of building brand in fashion industry in Viet Nam, from which the drawbacks and difficulties will be found and analyzed to propose solutions for enhancement Research scope 3.1 Research object - Buidling brand in fashion retail industry 3.2 Research place - The research is implemented in Viet Nam 3.3 Research time - Primary data is collected by interviewing the managers of fashion stores and customers in Ha Noi from July to August, 2014 Research question Becoming a strong and powerful brand is the aim for mostly everyone who sets to compete at the commercial market Even though there are millions of advices and theories on how to become successful and create that beloved and famous brand among the customers, there is a slightly different approach to create a strong brand in the fashion business How to make the major decisions of the branding strategy and make them go inline with the brand identity and profile is often very difficult How then, are companies working with their brands to make them successful and strong?  What are the benefits of strong brand?  What are the advantages and disadvantages of branding for Vietnamese fashion industry?  How to build a powerful brand in the fashion retail industry in Viet Nam? Research methodology 5.1 Choice of method  Deductive approach A deductive approach consists of a research process where the concepts and established theories lead the way of defining what primary data is relevant and to be collected to undertake the study and the purpose  Qualitative research approach 5.2 Data collection 5.2.1 Secondary Data collection The theoretical data found in the frame of references are mostly conducted through secondary data that is collected from sources such as books and articles from different databases 5.2.2 Primary Data collection In-depth interview All of the collected primary data is conducted through interview which is a good way of gathering primary data and will help to fulfil the purpose of thesis Research structure Chapter 1: Theoretical framework of brand and branding Chapter 2: Current situation of building brand in fashion industry in Viet Nam Chapter 3: Recommendations to build strong brand in fashion industry in Viet Nam Chapter Theoretical framework of brand and branding 1.1 Overview of brand 1.1.1 Definitions of brand The word brand is from German ‘brand’, ‘to burn with a hot iron’ (Hornby, 2005, p.134) This unique mark enabled farmers to recognize their own cattle and buyers to distinguish the cattle of certain farmers from others, possibly inferior ones However, the definition of brand has changed dramatically over the course of time Brand, nowadays, does not only denote the ownership of a product or service, but also is a guarantee of quality, a meaningful symbol with stories to tell rather than just a way to distinguish from competitors, an asset to the organization it belongs to, helping to protect from illegal activities such as imitation, copying and use without copyright The American Marketing Association (AMA) defines the term ‘Brand’ as: “A name, term, symbol or design, or a combination of them, which is intended to signify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.” This definition includes many traditional elements of brand such as the factors related to visual identity and clear external elements associated to companies and brands A different approach and definition is provided by Kaled K Hameide (2011) “A successful brand has a strong identity (mentally and physically), is innovative, consistent, competitively positioned and holds a matching positive image in the customer’s mind.” stated that a brand is no longer comprised by just these elements mentioned by the AMA By his definition, brands are not only tangible representations of a product, service or company, but hold within them many intangible elements that are more difficult to measure As one-respected marketer once said: “Products are created in factory, but brands are created in the mind” According to Kotler (2003), a brand is essentially a marketer’s promise to deliver a specific set of features, benefits and services consistently to the consumer A brand is a combination of corporate behavior and values, the technical functionality and quality of products and the intangible promise the company instills in their products for customers Hence, everything an organization does, should be focused on enhancing delivery against its brand’s promise 1.1.2 Advantages of a strong brand According to the Keller (2002), building strong brand is the objective of every organization regardless small or large From a company perspective, brands can function as carriers of information and symbols of certain life-style to attract consumers A strong brand provides numerous benefits in terms of greater revenue and lower costs An effective brand will demonstrate the value of product to the prospective purchasers or users in the marketplace One of the important causes is the brand loyalty, customer of loyal to a particular brand never consider the price while purchasing it which off course provide the greater revenue along with the repeat purchase by consumers When an organization has customer loyalty that means its brand has become a promise of future satisfaction Besides, an enterprise owns a well-established brand usually has better access to distribution channels, as well as providing a broad platform for product line extension, therefore, enables its owner to introduce innovative and new product offerings into the market with a better chance of success than otherwise would have being possible without an established and reputable market presence On the other hand, a strong brand can also create attributes that are difficult for competitors to copy, providing the legal protection to brand From customer’s perspective, brands help consumers to identify specific products that they and not like, in turn, facilitate the purchase of items that satisfy customer’s needs and reduces the time required to purchase the product Once a brand is established, the brand name and trademark serve to remind and reinforce the beliefs that have been formed (Hoffman, 2003:261) Product selection is also quite random without brands, because customers would have no assurance that they were purchasing the product that preferred A good brand should therefore attract attention, be memorable, help communicate the positioning of the product and distinguish the product from competing brands (Hoffman, 2003) 1.1.3 Brand dimensions 1.1.3.1 Brand Identity The brand of product or service should be identifiable by its own unique attributes distinguishing it from competitors A powerful brand should have a rich and clear brand identity Aaker (1996) has defined: “Brand identity as a unique set of brand associations that the brand strategist aspires to create or maintain These associations represent what the brand stands for and imply a promise to customers with the help of market communication” Brand identity strongly related to customer perception and visual elements Therefore, brand identity should help establish a relationship between the brand and the customer by generating a value proposition involving functional, emotional, or self-expressive benefits Brand image, brand positioning and brand personality are parts of brand identity 1.1.3.2 Brand Equity The American Marketing Association (2007) defines brand equity as the value of a brand to the firm From consumer’s perspective, brand equity based on consumer attitudes about positive brand attitudes and favorable consequences of brand use Sheth, Mittal & Newman (1999) defines: “Brand Equity as a set of asset and liabilities linked to brand, its name and symbol, which add to or subtract from the value provided by a product or service to an organization and/or to that organization’s customer” Smith (1991) also considers brand equity as the measurable financial value in transactions, and this value is generated form company’s branding activities Further, brand equity is a multidimensional construct, which consists of brand loyalty, customer based brand awareness, perceived quality and brand associations Figure 1.1: The sources of brand equity Source: Adapted from Aaker (1999:173) Brand Awareness Brand awareness refers to the strength of a brand’s presence in the consumer’s mind (Aaker, 1996) It is a measure of the percentage of the target market that is aware of a brand name (Bovée et al., 1995:248) 14 intends to brand to be perceived Still positioning always has to make sure to stay focused at what is important and worthwhile for the end consumer Figure 1.4: The Anatomy of a brand Source: Hameide Kaled K (2011): Fashion Branding Unraveled p.14 Brand name selection: A good name can add greatly to a product’s success However, finding a best brand name is not an easy task It usually starts with a careful view of the product and its benefits, the target market, and proposed marketing strategies According to Kotler & Amstrong (2011), desirable qualities for a brand name include: (1) It should suggest something about product’s benefits and qualities (2) It should be easy to pronounce, recognize, and remember (3) The brand name should be distinctive (4) It should be extendable (5) The name should translate easily into foreign languages (6) It should be capable of registration and legal protection A brand name cannot be registered if it infringes on existing brand names A successful name can become an identification of the entire product category therefore it is important to protect the brand name To protect their brands, marketers present them carefully using the word brand and the registered trademark 15 symbol, as in “BAND-AID® Brand Adhesive Bandages.” However, their very success may threaten the company’s rights to the name Many originally protected brand names such as cellophane, aspirin, nylon, kerosene, linoleum, yo-yo, trampoline, escalator, thermos, and shredded wheat are now generic names that any seller can use Brand sponsorship: Once organizations have decided to brand their products, they should make a decision about the brand sponsor There are four options for the marketer to choose by: to launch the product as a manufacturer’s brand (national brand), or sell to resellers who thereafter gives the product a private brand (store brand) You may also choose to sell it as a licensed brand (compared to creating their own brand name) and finally the marketer can choose to co-brand a product alongside another company (Kotler & Amstrong, 2011) Manufacturer brands are brands which are designated, owned and used by the manufacturer of the product Because they are usually marketed nation-wide, manufacturer brands are often referred to as national brands (Bovée et al., 1995:249) Secondly, a private or distributor brand, or own-label brand (Jobber, 1998:211) refers to a brand that is designated, owned and used by a wholesaler or retailer (Bovée et al., 1995:249) The retailers have many advantages If associated with high-quality- supplier control, private brands can provide consistently high value for customers and be a source of retail power as suppliers vie to fill excess productive capacity with manufacturing products for private brands (Jobber, 1998:211) Further, the retailers control what products they stock, where they go on the shelf, what prices they charge, and which ones they will feature in local circulars They often price their store brands lower than comparable national brands, thereby appealing to the budget-conscious shopper in all of us Although store brands can be hard to establish and costly to stock and promote, they yield higher profit margins for the reseller and they give resellers exclusive products that cannot be bought from competitors, resulting in greater store traffic and loyalty Therefore, in order to 16 compete with store brands, national brands must sharpen their value propositions, especially in these lean economic times In long run, however, leading brand marketers must invest in R&D to bring out new brands, new features, and continuous quality improvements They must design strong advertising programs to maintain high awareness and preference and find ways to “partner” with major distributors in a search for distribution economies and improved joint performance (Kotler & Amstrong, 2011) Most manufacturers take years and spend millions to create their own brand names However, there are some company license names or symbols previously created by other manufacturers, names of well-known celebrities, or characters from popular movies and books By means of a licensing agreement, for a licensing fee, a company may permit approved manufacturers to use its trademark on other products The licensee is responsible for all manufacturing, selling and advertising functions and bears the costs if the licensed product fails (Pride & Ferrell, 1997:334) Co-branding occurs when two established brand names of different companies are used on the same product Co-branding offers many advantages Because each brand dominates in a different category, the combined brands create broader consumer appeal and greater brand equity Co-branding also allows a company to expand its existing brand into a category it might otherwise have difficulty entering alone However, Co-branding can also have limitations Such relationships usually involve complex legal contracts and licenses Co-branding partners must carefully coordinate their advertising, sales promotion, and other marketing efforts Finally, when co-branding, each partner must trust that the other will take good care of its brand If something damages the reputation of one brand, it can tarnish the co-brand as well (Kotler & Amstrong, 2011) Brand development: When a company wants to develop their brand they can choose from four different strategies, firstly they can make a line extension where they extend the already existing brand name onto new flavors, sizes etc of an existing product category Second is brand extension where the brand name is 17 extended to new product categories Third is a multi-brand development where a new brand name is presented in an existing product category Finally, the marketer may choose to develop through new brands, that is, through new brand names in new product categories (Aaker & David, 2004) Figure 1.5: Brand Development Strategies Source: Kotler & Amstrong: Principlesof Marketing, 14th Edition, 2011 Line extensions occur when a company extends existing brand names to new forms, colors, sizes, ingredients, or flavors of an existing product category A company might introduce line extensions as a low-cost, low-risk way to introduce new products Or it might want to meet consumer desires for variety, use excess capacity, or simply command more shelf space from resellers However, line extensions involve some risks An overextended brand name might lose some of its specific meaning or heavily ex-tended brands may cause consumer confusion or frustration Another risk is that sales of an extension may come at the expense of other items in the line A line extension works best when it takes sales away from competing brands, not when it “cannibalizes” the company’s other items A brand extension extends a current brand name to new or modified products in a new category Brand extension gives a new product instant recognition and faster acceptance It also saves the high advertising costs usually required to build a new brand name At the same time, a brand extension strategy involves some risks The extension may confuse the image of the main brand and if a brand extension 18 fails, it may harm consumer attitudes toward other products carrying the same brand name Another brand strategy option is multi-brands Multi-brands are new brand names introduced in the same product category (Kotler & Armstrong, 2001:306) Multi-branding offers a way to establish different features that appeal to different customer segments, lock up more reseller shelf space, and capture a larger market share For example, in the United States, P&G sells six brands of laundry detergent (Tide, Cheer, Gain, Era, Dreft, and Ivory), five brands of shampoo (Pantene, Head & Shoulders, Aussie, Herbal Essences, and Infusium 23), and four brands of dishwashing detergent (Dawn, Ivory, Joy, and Cascade) However, there is a major drawback of multi-branding is that each brand might obtain only a small market share, and none may be very profitable The company may end up spreading its resources over many brands instead of building a few brands to a highly profitable level These companies should reduce the number of brands they sell in a given category and set up tighter screening procedures for new brands New brands follow on from multi-brands A company might believe that the power of its existing brand name is waning, so a new brand name is needed or it may create a new brand name when it enters a new product category for which none of its current brand names are appropriate (Kotler & Armstrong, 2001:309) 1.2.3 Brand building theories Building brand allows companies to grow their business, make them even more profitable and create an intangible asset (Kapferer, 2007) Millward Brown, the marketing research consultant, is the one who developed the model of brand strength called BRANDZ The main idea is the BrandDynamics pyramid presented in Figure 1.6 which argues that brand building is the process BrandDynamics™ Pyramid gives a graphic representation of the strength of relationship consumers have with your brand Figure 1.6: BrandDynamics Pyramid 19 Source : Adapted from BrandZ 2009 There is assigned enquiry to each level of the pyramid The highest level at which is the strongest relationship and the highest share of category expenditure is Bonding-Rational and emotional attachments to the brand to the exclusion of most other brands It is the best and the most awaited level of bond with the consumer They make a choice to buy the preferred brand automatically without considering products of competitors The next lower level which is Advantage level which considers reaction to the question “Does it offer something better than others?” At the Performance level, “Can it deliver?” The next level which is RelevanceRelevant to consumer's needs, in the right price range or in consideration set The last and the weakest relationship and low share of category expenditure is at Presence level - Active familiarity based on past trial, saliency or knowledge of brand promise Another theory which ponders the brand building process as a series of steps is Brand Resonance Model Kotler had distinguished six “brand building blocks” which together form a four steps pyramid presented in Figure 1.7 He differentiated two sides of the pyramid: rational and emotional Kotler argues that in order to create significant brand it requires “reaching the top or pinnacle of the brand 20 pyramid, which occurs only if the right building blocks are put into place”(Kotler, 2006: 285) Figure 1.7: Brand Resonance Model Stages of Brand Development Brand Brand Building Blocks Branding Objective at Each Stage Figure Brand Resonance Model (Source: Kotler 2006: 285) Source: Kotler 2006 The first step, Brand Salience, involves creating an identity for the brand, which customer recognize and associate with a specific product class or customer need The second step consists of two blocks: Brand Performance which considers if the customers’ functional needs are met by the product or service and Brand Imagery which describes the properties, including the ways in which customers’ psychological and social needs are attempted to meet by the brand The purpose of this step is to establish an encompassing meaning of brand in the customer’s mind, by strategically linking a multitude of tangible and intangible brand elements (Kotler, 2006) The role of advertising is crucial at this step since it shapes the image of the brand Crafting association with the brand that are strong, unique and favourable is necessary to keep brand competitive For the third tier of the pyramid Kotler proposes two blocks: Brand Judgements and Brand Feelings Judgements emerge from Performance and Imagery associations and are focused on personal opinions and evaluations like perceived quality of the brand, credibility, consideration and superiority Feelings, on the other hand, are the emotional 21 responses and reactions to the brand like social approval, self-respect, excitement, fun It is important to obtain a proper positive response in the consumer mind in terms of judgement and feelings The fourth and last block of the pyramid is Brand Resonance which refers to nature of the relationship and psychological bond that customers have with the brand and their level of engagement 1.2.4 Building brand in fashion industry 1.2.4.1 What is Fashion? The term fashion was first used during the fourteenth century and the term was, as it is today, connected to people’s appearance according to established norms and customs People started to display their status through choices of clothing to much larger extent than before (Craik, 2009) Fashion is a truly widespread theme which could be used to sell products from several categories Hence, the term ‘fashion’ extends beyond the clothing industry reaching also accessories, cosmetics, footwear and furnishing (Bohdanowicz & Clamp, 1994) The definition highlights two key elements linked to fashion which are mass adaptation and constant change As a matter of fact, the only constant in fashion is change, trends can come and go andthen return again with the short life cycle shall make this industry is a hard one to survive Another important aspect is that a design is not fashionable unless it is adopted by the majority of people (Jackson & Shaw, 2009) There is a continuous searchfor ‘the next big thing’ and fashion companies must always be in vogue in order to be ‘fashionable’ Otherwise, the term fashion should not be confused to the definition of style which can exist outside of the fashion seasons Nowadays consumers are able to browse different styles, for instance, in the internet, but what is fashionable depends on consumer’s own attitude and perception Despite the broadness of the term fashion, this study concentrates on clothing, moreover, clothing represents many of 22 the fashion issues that dominate the industry as a whole (Bohdanowicz & Clamp, 1994) Fashion is constructed like a pyramid At the top we find haute couture (high fashion) literally meaning, “high sewing” in French This is the highest form of sewing art and only a few fashion houses in Europe perform the bespoke and very exclusive production Just below the haute couture is the famous designer’s readyto-wear (prêt-à-porter) clothing, clothes that are not bespoke but still maintain a high price tag They can be found in designers’ shops, independent stores and some of the more exclusive department stores The designs are not unique but are produced in a limited number with a strict quality control In the middle of the pyramid are the challenger brands, these garments are very fashionable but not as expensive as the well-known designer’s ready-to-wear (Easey, 2009) The bottom of the pyramid consists of mass retailing Mass retailing can also be divided into different sections At the very bottom is the most basic type of garments sewn according to standardized styles such as simple T-shirts and plain jeans; clothes that are sold at, for example, large department stores In the higher layer of the mass retailing section we find cheap but still very trendy garments sold at e.g H&M and Zara It is in this area that most people buy their clothes, what customers lose in exclusivity they make up for in value of money (Tungate, 2008) Fashion is a cyclical phenomenon of a temporary character adopted by consumers for a particular time Fashion is characterized by factors such as low predictability, high impulse purchase and high volatility of market demand (Bhardwaj & Fairhurst, 2010) This definition demonstrates that basic garments cannot be referred to as fashion in that sense Fashion involves a strong creative and design component, although the level of design varies significantly between the more basic items and the artistic creations from e.g Dior and Chanel (Easey, 2009) 23 1.2.4.2 Characteristics of fashion industry The nature of fashion industry differs from other industries in many ways, and therefore it is important to discover the main characteristics of this fast changing industry Short lifecycles, high volatility, low predictability and high impulse purchasing are typical elements in this industry (Bandinelli, et al., 2013) Volatile variation in consumer preferences, arising from uncontrollable factors, is also familiar to this industry These factors include weather, influences of fashion pioneers, and rapidly developing fads communicated through the media (Jackson & Shaw, 2009) In other words, consumers’ behavior and expectations are hard to predict and this sets challenges for fashion retailers Therefore, the success of a fashion designer depends on creativity and innovation (European Commission, 2013a) Fashion industry is highly competitive and visual features are key factors in fashion retailing (Lea Greenwood, 2013) Sometimes even established features are not enough to ensure success since the industry battles with the copycats (Malen, 2007) 1.2.4.3 Fashion branding The special characteristic that marketers has to take into consideration when dealing with fashion products is the mere fact that the fashion consumers demands a ‘badge’ that they could wear as a statement about their identity, the brand image therefore needs to be relevant to their customers and go in-line with their needs and aspirations Another strong characteristic of fashion branding is the strong link between the design and the marketing activities, thus the creative department and the management This link and the interdependence between these departments vary due to the type of brand and which segment it is active within The more luxurious the brand, the more power has the designer and the creative team, therefore the luxury brands depend much more on their creativeness and trendsetting The more mass-market brands tend to be more of a trend-follower and therefore need a much 24 stronger brand management while relying more on the branding and marketing of the brand Since the fashion market nowadays has become more and more saturated and the product lifecycles are turning faster and faster, demanding new changes in a hideously fast way, the customers tend to differentiate fashion products more by brand name or the price, than the product itself Branding has made clothes take the step away from only being a commodity purchase and instead become a fashion and lifestyle purchase, a brand purchase 1.3 Summary of theoretical framework In this chapter, the theoretical framework is described in detail relating to the research topic It is started with the aim to give the reader an overview over the brand definition and advantages of a powerful brand to the company Thereafter, some major problems and well-established theories with branding have been explained After having reached a deeper knowledge about branding, the fashion industry and fashion branding has been defined to deeper fundamentals of this particular segment In the next chapter, the branding building situation in fashion industry in Viet Nam shall be introduced before provide the recommendations in order to build a strong brand in fashion industry in Viet Nam 25 LIST OF REFERENCES Aaker, David A.,1991, ‘Managing Brand Equity’, New York, Free Press Aaker, David A., 1996, ‘Measuring Brand Equity across products and markets’, California Management Review Vol 38, No 3, pp 102-121 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Kotler, Philip and Keller, Kevin Lane, 2006, ‘Marketing Management’, 13 Edition, p.274-331, Pearson Prentice Hall Lea-Greenwood, G., 2013, ‘Fashion Marketing Communications’, p.92, Markono Print Media Pte Ltd, Singapore Gieles, L., 2010, ‘How does international expanding affect the Brand Identity of a Fashion Label’, Amsterdam Fashion Institute Malen, W., 2007, ‘Fashion designers as business’, Journal of Fashion Marketing and Management, 12(3), pp 398-414, London MillwardBrown Optimor, 2009, ‘BRANDZ Top 100 Most Valuable Global Brands’, 44, viewed 29 July 2014, from http://www.brandz.com/upload/BrandZ-2008-RankingReport.pdf MillwardBrown Optimor , 2010, ‘BRANDZ Top 100 Most Valuable Global Brands’, 79, viewed 29 July 2014, from http://c1547732.cdn.cloudfiles.rackspacecloud.com/BrandZ_Top100_2010.pdf Strydom, J.W., Jooste, C.J & Cant, M.C (eds), 2000, ‘Marketing Management’, edition, p.272, Juta, Cape Town th 28 Tungate, M., 2008, ‘Fashion brands: Branding style from Armani to Zara’, nd edition, Kogan Page, Great Britain Waqas Khalid & Waqar Ahmad, 2011, ‘Branding in small companies - A case STUDY of VITAL TEA, Pakistan’, School of Management Blekinge Institute of Technology, Sweden Wu Gang, 2011, ‘Brand Management in SMEs - The Case of Hasta AB’, Mid Sweden University Zeithaml V.A., 1988, ‘Consumer Perceptions of Price, Quality, and Value: A Means, End Model and Synthesis of Evidence’, Journal of Marketing, Vol 52, p.2-22 ... framework of brand and branding Chapter 2: Current situation of building brand in fashion industry in Viet Nam Chapter 3: Recommendations to build strong brand in fashion industry in Viet Nam... segment In the next chapter, the branding building situation in fashion industry in Viet Nam shall be introduced before provide the recommendations in order to build a strong brand in fashion industry. .. well-established theories with branding have been explained After having reached a deeper knowledge about branding, the fashion industry and fashion branding has been defined to deeper fundamentals