Vard offers €10,000 brand bursary Sunday, March 14, 2010 By Catherine O'Mahony Brand design consultancy The Vard Partnership is offering a brand bursary with a prize of €10,000-worth of packaging design for an Irish brand.
Stephen Vard, managing director, said the company regularly came across brands with great potential. ‘‘The stumbling block to building these brands is the lack of availability of finance. The old idiom ‘invest or die’ has never been more apt than now. Innovative thinking and the creation of new ideas are essential to pull Ireland out of this recession.”
The offer is backed by the Irish Exporters Association, whose chief executive, John Whelan, said Irish brands had to focus on their image to compete for consumers’ interest. He said consumers were less price sensitive when they believed in the brand.
During recessionary times, companies are tempted to cut prices to offer value.
However, Vard said, focusing purely on price could negatively affect a brand’s image, leading to a loss of market share. ‘‘There are always opportunities to build brands, irrespective of the condition of the wider economy.”
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