ABSTRACT
This chapter discusses the role of brands in the economy and the society by exploring the history of branding from ancient civilisations to post-modern contemporary societies. It explores the importance of brands to consumers, organisations, and society. A proto-brands’ role is essentially informational; this role involves at least one of three functions. Proto-brands carried information about the place of origin by “utilising a known mark, signature or through the known physical properties of a given raw material”. In the pre-modern economy, proto-brands were “an instrument used to solve information asymmetries between producers and consumers”, evolved through time, and differed from region to region. Branding is ubiquitous, and brands are fluid and dynamic as they morph and develop over time. Brands are of great importance to consumers, organisations, and the society in general. Powerful brands are treasure troves, horns of plenty, pots of gold. The chapter also presents an overview of the key concepts discussed in this book.
