India’s Petroleum Market: The Journey from a Commodity to Brands
Management Research Journal, Vol. 5, pp. 78-82, 2011
9 Pages Posted: 18 Oct 2011 Last revised: 31 Aug 2012
Date Written: July 18, 2011
Building a strong brand today is incredibly difficult. A strong brand can turn a commoditised, undifferentiated product into something unique and special. For instance, as soon as you put the brand of Tiffany on a diamond, the value of the diamond shoots up. It is no longer just a diamond, it is a Tiffany diamond. Similarly, as soon as the McKinsey brand touches a consulting project, the value of the project leaps. It is now a McKinsey study, and people assume that it is rigorous, thoughtful and valuable. The reverse is also true; a weak brand erodes value. When a brand associated with low quality touches a product, expectations sink. Brands are long term assets; they build over time and they erode over time. As a result, a company building a strong brand won’t see the results right away. This paper gives a brief background to the advent of global oil brands and the journey of India’s petroleum market from a commodity to brands.
Keywords: Brand Building, Oil Marketing Companies, Commodity to Brand, Branding
JEL Classification: M37, C80, M10
Suggested Citation: Suggested Citation