Web Definition: Brands
A brand represents the holistic sum of all information about a product or group of products. This symbolic construct typically consists of a name, identifying mark, logo, visual images or symbols, or mental concepts which distinguishes the product or service. A brand often carries connotations of a products promise, the product or service’s point of difference among its competitors which makes it special & unique. Marketers attempt through a brand to give a product a personality or an image. Thus, they hope to brand, or burn, the image into the consumers mind; that is, associate the image with the products quality. it serves as a quick way to show & tell consumers what a supplier has offered to the market. Well known products acquire brand recognition. When a brand has accumulated a mass of positive sentiment among consumers, marketers say that its owner has acquired brand equity or brand franchise. Brand equity measures the brands value to the marketer. It is an assessment of the investment a company has made in a brand.
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