A brand is a logo and corporate identity in its simplest and most powerful form which differentiates it from the competition. A brand is a name that influences buyers. A brand is said to be established when it has acquired the power to influence. A brand is your organization. It should be placed at the heart of your organization so that it lives throughout the organization. Each and every activity that the company takes should be to reinforce the brand. The ultimate objective is to create a brand that does not need selling.
A brand is a byword for quality. It has a long term effect on company’s activity hence it is an ASSET. It has legal entity therefore it acts as a PATENT. A brand is a set of mental associations held by the consumers, which add to the perceived value of the products or services. It is an INTANGIBLE ASSET. Brand is the most valuable asset for a company. When the business gets it right it becomes a value creation engine. A brand is a conditional asset it needs products or services and it must be providing value to both the consumers and the company. It has legal entity therefore it also acts as a PATENT.
What do brand managers sell? Do they sell just products and services? No they also sell relationships, hopes, dreams and values.