Branding : A Tough Ball Game

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Branding: A Tough Ball-Game
In the contemporary business scenario and the stiff market competition, ‘brands’ are inevitably gaining importance in business perspective as the most valuable assets that can be possessed by a firm. The markets in the past were closed but now with the forces of globalization and liberalization taking over the ride, the competition prevailing in the market has boosted up significantly and hence there is a herd of marketers that are constantly yearning for portraying their product as a unique product proposition delivering most satisfaction and hence to accomplish this objective they come up with a brand. The present study explores the various facets of business activity involved with ‘branding’.
The concept of ‘branding’ can be understood as a unique identity of the goods and services delivered by the sellers in terms of “any name ,term, sign, symbol, design or combination of all” which help in differentiating the seller from his rival firms. The purpose of branding is to establish faith, trust and confidence among the users to make a distinction among the plethora of firms offering similar kind of products. Grassl highlights the importance of branding and its linkages with consumer’s perception as he asserts that, “brands supervene on products, much as the mental has been claimed to supervene on non-aesthetic properties” (Grassl, 1999).
The two element structure of branding with respect to the customer’s perspective assumes it to be comprising of
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