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INTRODUCTION In the present-day marketing scenario, consumers do not seek a product for solving their needs; mostly they seek a specific brand. Many a time the brands have become so important that they turned out to be generic and replaced the name of the original product. In the marketplace, photocopy services have become synonymous with Xerox which is basically a brand of photocopy machines. Similarly, Band-Aid , a brand introduced by Johnson & Johnson, has been a synonym for medicated gauze with adhesive tape. Therefore, brands and the role of branding, as traditionally understood, have been subject to constant review and redefinition, because of its continuous change of axes of importance. Traditionally brands have been defined as the name, associated with one or more items in the the product line, which is used to identify the source of the character of the item(s) (Kotler, 2000)

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