A brand is a name, term, sign, symbol, or design, or some combination of these elements, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors.
Brands are valuable intangible assets that offer a number of benefits to customers and firms. Brand equity should be defined in terms of marketing effects uniquely attributable to a brand. Building brand equity depends on three main factors:
Brand audits measure “where the brand has been,” and tracking studies measure “where the brand is now.”