SIGNIFICANCE OF BRANDING: FROM HIGH END BRANDS TO STAMP OF QUALITY

In the recent decade, management has prioritized branding since it has come to be seen as one of a company's most significant intangible assets. India is one of the world's fastest-growing and most competitive marketplaces, and many multinational companies are moving in as a result of rising globalization and international commerce. While most multinational corporations missed the mark when it came to gauging the preferences of Indian consumers and the specifics of the Indian market, a select few were able to successfully introduce their brands to the country thanks to careful research into the demographics of the market. When first entering the Indian market, even some of the more successful firms of today made a few mistakes. This paper identifies some seminal works in the field of branding, illuminating academic insights into crucial issues like positioning a brand, brand integration, label-equity measurement, brand development, and brand management as well as the reasons why some internationally successful brands struggle to break through in India. Challenges in including primary and interactions effects of brand as well as the influence of competition into choice models are examined, along with the implications of the branding idea for choice modeling.