“The developed world has seen a huge shift in output from industry and manufacturing to services, and as demand for financial and leisure services increases, brands will play an increasing role in a brand savvy world in which people have become more and more discriminating and difficult to please. Brand owners therefore need to ensure that they deliver high-quality services that are aligned with a compelling vision and delivered with a genuine commitment to customer satisfaction” (Blackett, 2004).
The fundamental idea behind the development of a brand is to ensure that the identity of the product can be brought into use as a platform which can assist the company in reaching the consumer. It allows the company to establish credibility through its unique presence and serves to provide consumers the reasons needed to associate with a brand. Branding is considered to be the prime contributor to the development of consumer loyalty.
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