A brand is a powerful intangible asset that is much more than just a logo or name. It is a promise to sustain and develop the emotional connection with consumers by being socially responsible, morally inclined to satisfy their needs and building a reputation that flows through employees to end users. No matter where and how a product is manufactured, the brand determines its salability. This essay will shed light on how branding is the ultimate factor that determines a buyer's purchase intention. For this essay, examples of local and global brands will be used to outline the analysis from a modern economic perspective. Theory Companies invest a lot of time, money and effort in interacting with customers to earn their trust [1]. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Ed Burke, former CEO of Johnson & Johnson, quoted the famous phrase “A brand is the net present value of the cumulative trust that the owner's past marketing activities earned from consumers,” proves that when companies consistently satisfy consumer needs, trust in stakeholders grows [1]. Another definition given by the American Marketing Association is that a brand is a "name, term, design, symbol or any other characteristic that identifies the good or service of a seller as distinct from those of other sellers" (AMA); this is perhaps partly right in context, but brands are more of a mental representation in the consumer's memory that varies in strength based on their exposure to it [2]. brands reside in the consumer's head as structures made up of clusters of meanings and associations, with different elements organized as a network [2,3,4,5,6]. founded in 1983) has capitalized on a market that never existed by becoming a pioneer in the salt industry in India. First-mover advantage and the creation of a successful niche allowed it to occupy the leadership throne [7]. It continues to be a leader despite the new entrants in the market it has created. Tata Salt was the only viable substitute for rock salt using its vacuum evaporation technology which resulted in a product free of foreign substances. It was also the first company to play a vital role in the battle against iodine deficiency in the country by producing iodized salt [7,8]. “Desh Ka Namak” (Indian salt), the slogan of Tata Salt, emphasizes purity and its affordability. The brand has garnered immense support due to its focus on maintaining hygiene in production, purity, whiteness, nutrition and battle against iodine deficiency. The advertising formula followed by Tata salt in its television commercials emphasizes the fact that salt is easily soluble in water, which indicates its purity and that every family, with all the diversities, can afford to buy its product. This propagated unity among people and won their hearts [9]. With studies showing an increase in hypertension cases in India, Tata Salt took this opportunity to launch Tata Salt Lite in 2007, which had 15% lower sodium content. This demonstrated its ability to take care of its consumers and target a new group of health-conscious consumers [7]. Tata Salt also launched a new product line called Tata Salt Plus in 2012, targeting anemia. Double salt fortified with iron and iodine was introduced to eradicate the use of iron pills among women and children. This made it easy for Tata Salt to take oftargets a large population after its success against goiter after iodization of its salt [10]. Tata Salt Product Line [11]Despite having multiple product lines, Tata Salt managed to unify them into a single identity under its brand that was more than just salt [12]. These actions of Tata Salt have transformed a product manufactured by many other competitors into a brand present in every Indian family have in their kitchen and in their memory. Tata Salt Advertising Strategy – Is your salt pure? A simple comparison with common salt. [11]Nokia (global brand)Nokia, the fallen king of the mobile empire, was once the undisputed choice among consumers for its durable build, ease of use, and updated Symbian operating system. It offered a mix of feature phones and smartphones aimed at all age groups. In 2008 Nokia was the world's number one mobile phone brand, accounting for approximately 40% of all smartphone shipments the previous year. But failing to adapt to the ever-changing market and consumer demands, they collapsed at a loss and sold their business to Microsoft in 2014 [13,14]. The name still lived under the hood of Microsoft but failed to translate to the Nokia brand. identity and promise in a successful formula. Nokia's role was eventually taken over by HMD Global, a commercial vehicle founded by the Finnish company in 2016. Nokia realized that it is a powerful brand recognized by millions of people and that ownership does not matter, but the Nokia badge on the phone yes. [14-16]. Evolution of the Nokia brand [17] With the current arsenal of mid-range and high-end Android phones and the nostalgia of its old phones modified into the latest standards, Nokia's position has been elevated from non-existent to eighth place in the world by brand value, which is worth 8.4 billion dollars [14,16]. Please note: this is just an example. Get a custom paper from our expert writers now. Get a Custom Essay Current Value of Nokia Brand [16] The lesson learned from Nokia's roller coaster ride is that the survival of a brand is determined by the end consumer. Nokia's initial dominance, which lasted for years, was the result of purposeful brand building by meeting consumers' needs and gaining their trust by shaping their product in line with their promise. Ironically, their eventual fall from power was due to their reluctance to listen to consumers. The brand's rebirth took shape when the principles that made them a force in those days were revisited and rekindled. Conclusion In conclusion, the analysis using the above examples indicates only one result: brands are more than just manufactured products. They transcend the mere physical appearance of an entity towards a broad spectrum that culminates in emotional connection, promise and identity with consumers who base their choice based on the association with the brand itself. Bibliography Dechernatony (2006) The changing notion of brand management, chapter one, 1-25Keller KL. Brand synthesis: The multidimensionality of brand knowledge. J Res. Consumption 2003; 29:595-600Keller KL. Conceptualize, measure and manage customer-based brand value. J Marco. 1993; 57:1-22Krishnan HS. Characteristics of memory associations: A consumer-based brand equity perspective. Int J Res Mark. 1996; 13:389-405 Henderson G, Iacobucci D, Calder BJ. Using network analytics to understand brands. Res. ad consumption; 29:397-405John DR, Loken B, Kim K, Monga AB. Brand concept maps: A methodology for identifying brand association networks. J Mark Res. 2006; 43: 09/22/2018)