Brands are as ancient as civilization. The concept of brands has its origins before 1870’s with its presence in Romans and Greek times. Road signs were descriptive of shops available on the route and every shop had product logos or signs which could indicate the availability of that product. The basic intention was to promote goods being sold at a particular spot. (Pringle, 2001) Stone-carved sign-boards and product pictures were used in those days to promote the products to potential buyer. These brands grew with the time and traders spread this concept to different parts of the world. A new acronym “Made in …” got its place in the brand structure and names of the places accompanied the brand. Places then became famous for their special products and gained popularity during middle ages. Just to name, Swiss watches are famous for their handmade watches which show durability and elegance. Since then, evolution of brands was seen and many famous brands started taking commanding positions in the market like, Schweppes (1798), Levi’s (1850), Heinz (1869), Hovis (1886), Kodak (1887), Philips (1891), Harley Davidson (1903), Rolex (1910), Adidas (1920), Marlboro (1924), Durex (1929), KitKat (1935), Nescafe (1938), Tupperware (1945), Playboy (1953), Nike (1972), Swatch (1982), etc. (Riezebos, 2003)
The twentieth century was crowned with industrial revolution and hence manufactures were more aggressive with competitive edge as promoting matter. The basic need of the hour was to establish as a unique manufacturer and to become famous. Marketing strategies and advertising became topmost priority to penetrate with greater visibility. Exclusive emphasis was on branding and the “Brand” was getting better defined and structured. Brand was not just a requirement for the manufacturers but was a necessity for every entrepreneur. Brand Equity and Brand Portfolio gained equal attention and Brand extension became a strategy for conglomerates. (Riezebos, 2003)
Being the “one and only” and touched by every person on this earth is the dream of every product produced by every organization. Going global is the contemporary fashion among every industry with discovering virgin markets to hold greater market share. Every product makes noise in its own way to gather attention with uniqueness. Branding is at thriving and communicating with its customers is quintessential. Every brand has its own products and hence is targeted to specific segments. Global brands have to be retuned to meet the local customers’ requirements and immediate culture. (Macrae and Uncles, 1997) Attaining such an impressive balance between international world business culture and local customers is a niche area which needs special attention. Communication with such a meticulous attention can be easily attained using suitable and effective marketing channel. Every culture and segment has its own medium where they communicate extensively. More the communication – more is the opportunity to understand the customer and hence more chances of getting a better and desired product to rule the market. (Kim, 1998)
Satisfying the customer’s needs are the prime objectives of every organization. Added features always attract customers and consumers enjoy the benefits with the product. As per De Chernatony and McDonald (1992), “Products that match the consumer’s needs most closely” are termed as brands. Although it is a combination of tangible and intangible assets, satisfaction of the consumer is of utmost importance. Some renowned practitioners like Jessie Paul, Chief Marketing officer, Wipro Ltd., states her experience as “Two for the price of three” where the extra mileage is because of the reliability, pride and trust. Hence, intangible attributes can be considered as a basic ingredient for customer loyalty and brand survival of luxury branding. (http://www.jessiepaul.com)
Branding is more of a psyche attribute than the physical evidence of quality, assurance, durability, confidence, trust, etc. Brands do rule the customers mind ever since their childhood. Owing to this, brands that wish to exist for ages should grow with the child as they are future customers. A trust that is built should never get even a scratch at any point of the existence of any brand. (Lindstrom, 2003)
