Brandnames on the global market: their economic and social value

Brandnames live in a complicated, multidimensional world, in a dynamic system that demands well-defined, unique, memorable, seductive personalities. A brand suggests to the consumer a series of symbols and values that make up that consumer’s attitude and desires in a vast social environment. Participants went so far as to speak of a “brand alchemy”. Businesses must take into account new social and cultural trends to maintain their customers, and phenomenons such as budget crises, recession, anti-global movements, and so on, demonstrate the vulnerability of brandnames. In a period of rampant economic globalization, brands recognized around the world are still few and far between. Businesses that can capture worldwide attention will have distinct advantages. Finally, participants noted a growing sensibility in consumers as regards ethics and social responsibility. A business whose brand connotes “values” also has a leg up.