Consumers may rely on certain signals when judging product performance. Attributes such as brand
name, price and warranty may be interpreted as signals of product quality. Many do presume quality of
product depending upon the brand name. In this paper, the perceived values of the brand from the
customers’ point of view are measured using five point Likert Scale. The paper also attempts to measure
the awareness and loyalty level towards the brands.
Branding is centuries old. Brick-makers in ancient Egypt placed symbols on their bricks
to identify their product. Brand names, however, first appeared in the early 16th century,
when whisky distillers shipped their products in wooden barrels with the name of the
producer burned or ‘branded’ on to the top of each brand.
The “brand” concept evolved in the 18th century as the names and pictures of animals,
place of origin, and famous people began replacing many of the producers’ names. The new
purpose was to strengthen the association of the brand names with a product. Producers
wanted both to make their products easier to remember and to differentiate their products
from that of their competitors’.
In the 19th century, brand was used to enhance a product’s perceived value through such
associations. The purposes and strategies of branding have evolved even further in the 20th
century. The concept of brand equity, however, has received much attention recently.
Brand equity from an individual consumer’s perspective is reflected by the increase in
attitudinal strength for a product using that brand. Three elements are essential in
building a strong brand with the consumer: A positive brand evaluation, an accessible
brand attitude and consistent brand image1.
Branding is an essential element of product strategy. Brands serve important
communication function, and doing so, establish beliefs among consumers about the
attributes and general image of the product. After a brand has been established, the brand
name (letters or numbers used to vocalize the brand) logo (symbols), and trademark (brand
name and or logo legally protected) serve to remind and reinforce the beliefs that have
been formed. To reach this stage, the firms must have made good on their promises. |