Branding: history, concepts, and strategies

Definition and purpose 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 brand owners/shareholders. In modern practice, branding also includes the strategic use of marketing and communication tools to create a lasting impression in customers’ minds. The purpose of a brand is to differentiate offerings and help consumers recognize and evaluate them, often by conveying perceived values and promises. Brands typically rely on a “toolbox” of elements such as identity, personality, product design, and brand communication (e.g., logos and trademarks), supported by awareness, loyalty, and brand management strategies. Effective brand communication—often through integrated marketing communications and multiple touchpoints—ensures the intended message is correctly perceived, strengthening brand equity over time.

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Brand equity and brand valuation

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