Answer:
In these days of modern existence, a brand has become something that means a lot to the thinking people and something that has now come to stay. It is the modern elite’s status symbol.
The brand of an item that is used has, in today’s parlance become more important than the quality of the item. This is because the brand has got to have quality, it is so believed. Brand of anything used brings in its trail the status and the modernity of an individual.
Whether the thinking is correct or not is another matter but, the thinking has come a long way, and will probably stay. With this attitude, the elite are lending a sophistication of theirs to the brand also. This trend in turn leads to an obvious monopoly of the brand in the market.
