Branding is an important decision designed to enhance the identity of the product through the use of unique brand names, symbols and other distinctive measures.
The way of branding also suggests the position of the brand and the targeted consumers and age group of consumers for that particular brand. For example, Vicco and Nirma are two of the very famous and old companies from India. Their approach of branding and marketing suggest that these brands are affordable and suitable for the middle class consumers. Thus they them self define the position of their brand and targeted consumers. On other hand, Liril and Lux are also the famous and old companies always known for the glamorous way of branding which brings out the desires of the consumer which make them buy their products irrespective of the class.
Brand equity can be a useful measure of the value contained in a brand. It can help evaluate brand extensions, create partnerships and provide certainty around market share expectations. But it's a difficult measure to calculate, and as a result can be extremely deceptive. It isn't just a function of brand awareness – it's also dependent on the brand's meaning. And while awareness is a straightforward, quantitative measure, meaning is a much more complicated factor, shaped by a blend of actions, communications, opinions and experiences.