The marketing environment has drastically changed after the liberalization process was set in motion in India. Gone are the days when products that were highly priced and did not meet the consumers' needs were dumped on the consumer. In the period prior to the introduction of economic reforms, the consumer had to purchase whatever was offered to him as there was no option.

In the present scenario with the entry of new enterprises and a plethora of brands in the market, the consumer has a choice and he has to be satisfied. In every product category, competition has increased and the firms endeavor to retain market share. Unless a value is offered to him the consumer is not likely to patronize a brand. New products and services fail because the consumer does not get value. Delivering value to consumers has emerged as an area of research in the field of management and is an interdisciplinary area that attracts both marketing and strategy scholars.

The concept of providing value is important in the promising sectors of business such as retailing. So also for new approaches to marketing and communication on the internet. As elucidated by marketing thought leader Rama Bijapurkar in her recent book, even multinational companies entering India need to offer value to attract the Indian consumers and this ought to be incorporated in their marketing strategy and planning process.

In this issue, the first paper, "Do Private Brands Result in Store Loyalty? An Empirical Study in Bangalore", focuses on the important aspect of private brands in retailing. The objective of developing and delivering private labels is to close the gaps in value offered by national brands that rely heavily on promotion. Retailers develop private labels as a strategy to gain competitive advantage over national brands. The paper explores, empirically, as to whether private brands result in store loyalty.

The second paper, "Value Chain Analysis: Social Networking Communities", discusses the online social networking communities that have become an international phenomenon. Experts believe that social networking communities are among the best creative initiatives of mankind. This paper highlights two social networks—Facebook and LinkedIn—and examines their value proposition and value delivery process.

The third paper, "Has the Growth of Indian Conglomerates Been a Threat to Foreign Multinationals? A Case Study", raises interesting issues and challenges faced by a multinational organization that had started its venture in India and found the Indian market to be quite tough and challenging to penetrate.

We have included a case study that looks at Samsonite's repositioning strategies and the case is a useful addition and is currently a relevant area of research in the marketing field. The issue also carries a book review.

We constantly strive to make the journal appealing and relevant to both researchers and decision-makers. We hope the readers find this issue informative and relevant.

Maruthi Suresh
Consulting Editor