The main objectives of writing this proposal are: 1. Understanding the concept of brand and brand management 2. How brand names get evolved 3. Relationship of brand management and marketing 4. Different issues regarding brands in global scenario 5. Branding challenges
This is the age of marketing. Today the success of any organization depends on the level of its marketing ability. Marketing has gained a great deal of importance in modern organizations to achieve its goals. However the concept of marketing continue to change along with the changes in nature of competition and consumer demands. According to Kotler and Armstrong –“ Marketing is a process by which individuals and groups obtain what they need and want by creating and exchanging products and value with each other”. Marketing is like giving medicine to a patient. Patient identifies a problem within them and then the health personnel delivers specific medicine to cure the problem. Marketing is also the same. Customer has certain problems or feels some deficiency and marketing delivers them with the right product to deal with.
Marketing is the process of communicating the value of a product or service to customers. Marketing might sometimes be interpreted, as the art of selling products, but sales is only one part of marketing. Actually “selling” is traditional of marketing and “marketing” is a modern form of selling. As the term "Marketing" may replace "Advertising" it is the overall strategy and function of promoting a product or service to the customer.
The concept of marketing has changed over time. Previously, people preferred only