Brand sustainability and brand development: critical issues for micro, small and medium enterprises in India

Abstract

In the turbulent Indian economy post liberalisation, the micro, small and medium enterprise (MSME) sector is critical for inclusive growth. Having emphatically established itself as the backbone of our economy, by contributing 37.54% of our GDP and being a key driver of social and economic development, MSME sector is responsible for 45% of the total manufacturing output and 40% of the total exports of the country. In spite of these, this sector is vulnerable. Branding is an important instrument for sustainability of the MSME sector firms. The paper is an attempt to study two broad dimensions of MSME branding, namely, brand sustainability and brand development; and identify the parameters associated with it. The emerged factors relating to brand sustainability and brand development of the MSME sector in Indian context are fundamental to provide a new direction to the MSME sector firms of Indian origin on their quest for sustainability.