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Whats in a Name?

In: Business and Management

Submitted By priya9793
Words 9838
Pages 40
Priyanka Kumari
Ma in Fashion Marketing
Pearl Academy, Naraina, New Delhi, India

“A product is something that is made in a factory; a brand is something that is bought by a customer. A product can be copied by a competitor, a brand is unique. A product can be quickly out-dated, a successful brand is timeless” (Quiston, 2004, p 345). Many brands today mean little to consumers, who have become accustomed to buying on price alone. But a new tool can help companies separate themselves from the crowd. (David Aaker).Branding has emerged as a top management priority in the last decade due to the growing realization that brands are one of the most valuable intangible assets that firms have. Driven in part by this intense industry interest, academic researchers have explored a number of different brand-related topics in recent years, generating scores of papers, articles, research reports, and books. This paper identifies some of the influential work in the branding area, highlighting what has been learned from an academic perspective on important topics such as brand positioning, brand integration, brand-equity measurement, brand growth, and brand management. The paper also outlines some gaps that exist in the research of branding and brand equity and formulates a series of related research questions. Choice modelling implications of the branding concept and the challenges of incorporating main and interaction effects of branding as well as the impact of competition are discussed.
Key Words: Brand, Brand name, consumer behaviour, purchase decision, level of involvement, brand equity , brand extensions.
1. Introduction
What’s in a name? That which we call a rose
By any other name would smell as sweet. -Shakespeare
Shakespeare had it wrong. A rose by...

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