There are many fables about how the word “Brand” got into the marketing lexicon. From the branding of cattle in the Americas to the branding of casks of wine, the story goes on. Today the word `brand' is probably more closely associated with marketing than any other function. Therefore, is brand a registered trademark that stands for soap, cooking oil or TV set? Or is it a lot more?
Marketers see brand as a symbol of trust that helps simplify the complex lives led by today's consumers. In recent times, the word `brand' has grown to cover more than just products. A brand is more than a product, a service or an offering. In simple terms, a brand is a `product + images' or `product + added values'. In fact, a brand stands for a complete set of emotions and feelings, a mental mosaic that is in a consumer's mind.
As the Indian market evolves from a commodity-oriented seller's market to a brand-oriented buyer's market, the concept of brands, the role of brands, and the brand-building will become more and more important, and in fact, vital for business success.