A Singular Brand that embodies and projects dominance over its competing brands. Master Brands typically appeal to a very wide set of consumers - from premium to mass while constantly keeping in line, or just ahead of the ever-changing consumer preferences. The Indian brandscape is going through an interesting phase with a healthy mix of renowned international brands and local home grown brands emerging in every category.
That is why Master Brands outlive time and are indexed only to an evolving market thus forcing a sense of re-evaluation upon themselves. These are the brands that are here to stay and stay for good.
The modern understanding of a brand is consumer and identity oriented. Accordingly, Master Brand is regarded as an image in the minds of consumers and other target groups which are designed by companies to identify their products. Master brand is highly associated with their brand recall. This is reflected by the larger part of the existing definitions of brands, which refer to specific associations about product characteristics. Master brand is regarded as images in the minds of consumers that comprise associations about a high level of quality, aesthetics, rarity, extraordinariness and a high degree of non-functional associations.
"The Concept of Master Brand" defines both consumer products and brands and also distinguishes similar concepts such as premium and mass & differentiates between major types of consumer products and brands such as accessible vs. exceptional products and connoisseur vs. star brands. In that way, it would attempt to create a better understanding of what actually constitutes consumer products and brands, and thus should be useful for both researchers and managers within the field of brand management.