BRANDING & BRAND MANAGEMENT INTRODUCTION TO BASICS

The word brand comes from the Old Norse brandr, meaning "to burn", and it was by this means that early man stamped ownership on his livestock. Thus over a period of time brand and branding provides buyers with achoice. The world is divided into two kinds of people. One, those who love branded goods and they have them. Second, those who love branded goods but can't afford to have them. Brand management is aphilosophy and a total approach to managing brands, companies, and as such includes much about changing minds. That's why over last two decades we have witnessed that what were once being sold as mere commodities (rice, flour) are now being sold as a brand. On the career front as a brand manager, many management students (including me!) in earlier days of career often have misconceptions of this profession. Hundreds of them want to come in brand management as it is often perceived to be associated with glamorous work and a profile of making of advertisements, commercials, jazzy presentations etc.