Essay on the importance of Brand name in Business

In these days of modern existence, a brand has become something that means a lot to the thinking people and something that has now come to stay. It is the modern elite's status symbol.

The brand of an item that is used has, in today's parlance become more important than the quality of the item. This is because the brand has got to have quality, it is so believed. Brand of anything used brings in its trail the status and the modernity of an individual.

Whether the thinking is correct or not is another matter but, the thinking has come a long way, and will probably stay. With this attitude, the elite are lending a sophistication of theirs to the brand also. This trend in turn leads to an obvious monopoly of the brand in the market.

When this monopoly takes place, competition also enters the arena, and when this competition starts, the business of 'Duplicates' start. This business flourishes on the name of the brand, which people buy without a thought. So much is the craze for a brand name.

For example, Pepsi and Coca Cola have become such popular brands of aerated drinks that, those that cannot match and compete, produce a duplicate at a much lower Price. This item, the duplicate sells as well as the original due to the so called borrowed brand name.

This duplicate is mostly sold in rural areas since, the know-how is not there, and a cheaper item will go well there. The result is a conglomerate of small business houses producing Coca Cola and Pepsi. As the business increases, it also permeates to the towns small and big, and the business thrives.

^n the one hand brand name infuses competition, which is a good trend, while on the other it breeds corrupt practices. When the birth of an item is on the basis of duplication, how can it avoid corruption in its later stages of development.

It is such a pity that items that do not hold a popular brand name hold no position in the shopping programmes of the elite. This leads to another form of corruption. What happens in this situation is that, labels of brand names are printed or made otherwise, and stuck to items of lesser known makes.

This the business does in order to help growth. If this madness of brand name did not cross limits, this part of corruption could have been avoided. Besides, this only shows the near madness in promoting brand names by the elite.

It is only to take advantage of this mania of brand; a number of items of lesser quality and other even unknown brands are sold under the well-known brand names.

It may be true that, items of known brands are tried and found excellent but, at the same time, it is not necessary that an item of not so well known a brand has to be bad.

However, to-day no matter how much we try to convince the elite customers, the mania of brand name has caught up and all businesses are found flourishing on this - brand name.

To counter the high success stories of big businesses, the lesser businesses thrive on the mercy of duplication - such is the madness of brand name.