Summary
A brand is a name, term, sign, symbol, design, or some combination of these elements that is intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors. The ultimate purpose of the brand is to create, for consumers, the company, and its collaborators, value that goes beyond the value created by the product and service aspects of the offering.
Brands are valuable intangible assets that offer a number of benefits to customers and firms and that need to be managed carefully.
The value created by a brand is captured by two key concepts: brand equity and brand power. Brand equity reflects the premium that is placed on a company’s valuation because of its ownership of ...
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