Branding of products provides many benefits to the users as well as providers of products. However, unlike other products not much research and industry efforts have been expended into building strong software brands. In this study we identify the reasons for this state of affairs using a multi-disciplinary review of literature as well as anecdotal and empirical evidences. The results of the study show that software industry and products have so far followed a trajectory similar to that of other industries and products in its evolutionary path but with a time lag. In line with this observation we expect increasing relevance of abstract benefits to the users of software products, such as hedonic and social benefits. Also, the significant impacts of these abstracts benefits in building successful software brands as measured by brand loyalty indicates that the time is now ripe for branding of software products.