ABSTRACT
In a free economy, its more efficient competitors will capture part of its market and eventually it will lose its profits. A brand is a proprietary name given by a manufacturer to his product as for instance a toothpaste, a motor-car or a packet of cigarettes. Most brand names are registered, like a patent, so that other makers are prevented from using them. Marketing policy aims to build up first a ‘brand image’ and then ‘brand loyalty’. For this purpose every possible means is brought to bear including, if available, sales force, advertising, public relations and promotion of every kind. Marketing policy has become the directing force behind all production industry, because on marketing depends all the other functions of industry such as finance, forecasting, production planning, manpower planning, purchasing and material control, quality control, manufacture and distribution. There are many market research companies in existence who are prepared to undertake market surveys.
