Abstract:
Though the patents and trademarks have been in the social circles way before the marketing even took birth but the concept of brands started in the 19th century with the advent of the packaged goods and mass marketing. The companies needed to have a different name for their products for the customer to differentiate them from their peers.
Branding mainly focuses on the human psychology towards the product. There may not be much difference in the quality of the two competing products like if we take the example of LUX and Capri, both are pretty much concerned with the total quality of the products but the image of the products in the minds of two persons loyal to them would be different for the favorite one and the competing one. This is the magic of branding. Branding includes different aspect of the environment around the customers but the social and cultural factor are the most critical ones that make up the human psychology. The target market for Telenor and Zong are entirely different from each other. Zong focuses on the people who just care about the cost of the product but the Telenor focuses on the people who care about the quality of the service and that is clearly visible in their services.
Yet so much work done in the field of branding and its impact on the human psychology and the measurement of the stimulus that the advertisement makes, yet there are many examples of the brand failures. People just done accept some new products in the market. This research is intended to narrow its focus on the branding and the failure to meet up the human factors (psychology, society and culture).
