What's in a Brand

JULIET has intellectuals and lovers swooning in afreement when she exclaims at roses smelling just as sweet with any given name whatsoever."what's in a name ",as she voices out william shakespeare in the famous tragedy Romeo and Juliet.However,there is definitly something in showing off those Nikes while walking back home with friends.Diamond carvings of all kinds seem like glass when comared to Nakshatra.Choosing between Gucci and Swatch sometimes becomes a mind-boggling task,while witnessing the 'cold-war' between Pepsi and Coca-Cola for decades.

In today's world where competition has seized yet another precious part of life,branding seems to be a concept that plays a very significant role in the choices that we make in our daily lives.For instance food that we eat,the newspapers we read ,the cloths we wear,the accessories and electronic appliances that we use and even the car that we drive lead us to become players unknowingly in both the local and international markets

In Bangladesh ,the conventional trade mindset regarding running bussinesss has mostly been based on importing goods ands selling them without actually creating any kind of value addition in the market.Therefore,consumers would naturally prioritise and focus on price of a product rather than need,quality and service.All one has to do is wait till the next player enters the scenario with products claiming to be of better quality and cheaper price and the market has a new ruler.Thus the beginning of cut throat competition where there is always the risk of being driven out of the market.

However,the local market in Bangladesh has been conquered by the global market .For instance, through understanding the needs of the consumers,the Indian Brand of Parachute took over the hair oil market in Bangladesh where Aromatic ruled the industry for a long time."However,if one looks in to the Aromatic or the entire soap market" says Shariful Islam,the CSE of Brandzeal ,a Brand consultancy firm,"Very few local soaps or similar products follow a proper brand management process and drive themselves into building a brand that would enter and thrive in the market for a brief period of time and then falter "

Even then ,Bangladesh happens to be a haven for the international markets in terms of cheap labour and raw materials.it's time for Bangladesh to be heard in the global market .As a school of advertising says ,"" if the consumer has heard of us ,we've done our job.""