PRIVATE LABEL IN MARKETING AND ITS IMPORTANCE
Private labels are referred to as home brands, own brands, own labels, store brands, retailer brands and probably more. Kumar and Steenkamp (2007) define a private label “to be any brand that is owned by the retailer or the distributor and is sold only in its own outlets”. Therefore brands such as IKEA, Gap and H&M, Next, Tesco, Asda, Woolworths Select and Coles SmartBuy are private labels because they are sold only in their own stores and their products are not sold through any other outlets. It is also possible to observe such kind of private labels in some Azerbaijani companies, such as Azersun Holding and Azersun’s private labels are sold in its own retail named Bazar Store.