A brand is a name, term, design, symbol, or other feature that distinguishes an organization or product from its rivals in the eyes of the customer. Brands are used in business, marketing, and advertising.Initially, livestock branding was adopted to differentiate one person’s cattle from another's by means of a distinctive symbol burned into the animal’s skin with a hot branding iron. If a person would steal the animals, anyone could detect the symbol and deduce the actual owner.
However, the term has been extended to mean a strategic personality for a product or company, so that ‘brand’ now suggests the values and promises that a consumer may perceive and buy into.
- Branding is a set of marketing and communication methods that help to distinguish a company or products from competitors, aiming to create a lasting impression in the minds of customers.
- The geographic information from an IP can be supplemented and refined with other proxies or information to narrow the range of possible locations.
- As markets become increasingly dynamic and fluctuating, brand equity is a marketing technique to increase customer satisfaction and customer loyalty, with side effects like reduced price sensitivity.