A brand is a powerful intangible asset that is more than just a logo or name. It is a promise to maintain and develop the emotional connection with consumers by being socially responsible, morally inclined to meet their needs and build a reputation that flows through employees to end users. No matter where or how a product is made, the brand dictates how it is marketed. This essay will shed light on how brand is the ultimate factor that determines a buyer’s purchasing intent. For this essay, examples of local and global brands will be used to present the analysis from a modern economic perspective. Theory Companies invest a lot of time, money and effort in interacting with customers to gain their trust [1]. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”?Get the original essay Ed Burke, former CEO of Johnson & Johnson, said: “A brand is the net present value of the cumulative trust that owner's past marketing efforts won with consumers,” shows that when companies consistently satisfy consumer needs, trust in stakeholders increases [1]. Another definition given by the American Marketing Association is that brand is “a name, term, design, symbol, or other characteristic that identifies the good or service of one seller from those of other sellers.” (AMA); This may be partly right in context, but brands are more of a mental representation in the consumer's memory that varies in strength depending on their exposure to it [2]. Brands reside in a consumer's head as structures made up of clusters of meanings and associations, with different elements organized in a network [2,3,4,5,6]. Brand Analysis Supporting the Tata Salt (Local Brand) Theory Tata Salt (established in 1983) capitalized on a market that never existed by becoming a pioneer in the salt industry in India. The first-mover advantage and creation of a successful niche allowed it to occupy the leadership throne [7]. It continues to be a leader despite new entrants into the market it created. Tata Salt was the only viable substitute for rock salt thanks to its vacuum evaporation technology which resulted in a product free of foreign substances. It was also the first company to play a central role in combating iodine deficiency in the country by producing iodized salt [7,8]. “Desh Ka Namak” (Indian Salt), the slogan of Tata Salt, emphasizes purity and purity. its affordable price. The brand has garnered immense support due to the focus on maintaining hygiene in production, purity, whiteness, nutrition and combating iodine deficiency. The advertising formula followed by Tata salt in its television commercials emphasizes that its salt is easily soluble in water, which signifies its purity and that every household, no matter how diverse, can afford to buy its product. This spread unity among the people and won their hearts [9]. With studies showing an increase in cases of hypertension in India, Tata Salt used this opportunity to launch Tata Salt Lite in 2007, which was 15% lower in sodium content. This demonstrated its ability to care for its consumers and target a new set of health-conscious consumers [7]. Tata Salt also launched a new range of products called Tata Salt Plus in 2012, aimed at combating anemia. Salt doubly enriched with iron and iodine was introduced to eradicatethe use of iron pills in women and children. This made it easy for Tata Salt to target a large population following its success against goiter following iodization of its salt [10]. Product Line of Tata Salt [11]Despite its 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 transformed a product made by many other competitors into a brand that every Indian household has in their kitchen and in their memory.Tata Salt Advertising Strategy – Is Your Salt Pure? A simple comparison to regular salt. [11]Nokia (global brand)Nokia, the fallen king of the mobile phone empire, was once the undisputed choice of consumers for its durable build, ease of use and up-to-date Symbian operating system. It offered a mix of feature phones and smartphones targeting all age groups. Nokia was the world's leading mobile phone brand in 2008, accounting for around 40% of all smartphone shipments the previous year. But failing to adapt to the ever-changing market and consumer demands, they suffered losses and sold their company to Microsoft in 2014 [13,14]. The name always survived under the Microsoft hood, but failed to translate the Nokia brand. identity and promise in a formula for success. Eventually, Nokia's management was taken over by HMD Global, a business vehicle created by the Finnish company in 2016. Nokia realized that it was a powerful brand that millions of people recognize and that the ownership didn't matter, but the Nokia badge on the phone did. [14-16]. Evolution of the Nokia brand [17] With a current arsenal of mid- and high-end Android phones and nostalgia for its old feature phones modified according to the latest standards, Nokia's position has gone from non-existent to 8th in the world in terms of of brand value, which is worth $8.4 billion [14,16]. Keep in mind: this is just a sample. Get a personalized article from our expert writers now. Get a Personalized 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 focused brand building by meeting consumers' needs and earning their trust by modeling a product that lived up to their promise. Ironically, the fall from power was due to their unwillingness to listen to consumers. The brand's rebirth took shape when the principles that made it a strength at the time were revisited and relaunched. Conclusion In conclusion, the analysis using the examples above points to a single result: brands are more than just manufactured products. They transcend the simple physical aspect of an entity to a broad spectrum that culminates in the emotional connection, promise and identity with consumers who base their choice on the association with the brand itself.BibliographyDechernatony ( 2006) The Modified Notion of Brand Management, Chapter One, 1-25Keller KL. Brand synthesis: the multidimensionality of brand knowledge. J Consum Res. 2003; 29: 595-600 Keller KL. Conceptualize, measure and manage customer-based brand equity. J Mark. 1993; 57: 1-22 Krishnan 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 analysis to understand brands. Adv Consumption Res; 29: 397-405 John DR, Loken B, Kim K, 09/22/2018)