*Head, Department of Commerce, PSG College of Arts and Science, Coimbatore – 6410014, India.
Online published on 29 September, 2017.
Marketers engaged in branding seek to develop or align the expectations behind the brand experience, creating the impression that a brand associated with a product or service has certain qualities or characteristics that make it special or unique. A brand image may be developed by attributing a "personality" to or associating an "image" with a product or service, whereby the personality or image is "branded" into the consciousness of consumers. A brand which is widely known in the marketplace acquires brand recognition. When brand recognition builds up to a point where a brand enjoys a critical mass of positive sentiment in the marketplace, it is said to have achieved brand franchise One goal in brand recognition is the identification of a brand without the name of the company present.
Brand building, as companies know it today has long been acknowledged as the key to wealth creation. Building a Brand is not confined to merely advertising or creating visibility, it is about offering the right marketing mix elements – product attributes, pricing, place and promotion. It is not just naming a brand, it is about creating value with regard to the offering of the organization.