Branding: history, concepts, and strategies

Definition of a brand

A brand is a name, term, design, symbol, or any other feature that distinguishes one seller’s goods or services from those of other sellers. Beyond identification, brands are used to create and store value as “brand equity,” benefiting customers and also the brand’s owners and shareholders. Brand names are sometimes contrasted with generic or store brands, and branding has evolved from early physical marking practices to modern marketing and communication. In modern usage, branding also refers to the strategic use of marketing and communication tools to create a lasting impression in customers’ minds. A brand’s “toolbox” typically includes brand identity and personality, product design, brand communication (e.g., logos and trademarks), and outcomes such as brand awareness and loyalty. Brand equity is the measurable total worth of a brand, often reflected in how familiar and preferred it is compared with competitors.

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Brand equity and brand valuation

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