Brand  

From The Art and Popular Culture Encyclopedia

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Brand is the "name, term, design, symbol, or any other feature that identifies one seller's product distinct from those of other sellers." Initially, 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 iron stamp and was subsequently used in business, marketing, and advertising. A modern example of a brand is Coca Cola which belongs to the Coca-Cola Company.

In accounting, a brand defined as an intangible asset is often the most valuable asset on a corporation's balance sheet. Brand owners manage their brands carefully to create shareholder value, and brand valuation is an important management technique that ascribes a money value to a brand, and allows marketing investment to be managed (e.g.: prioritized across a portfolio of brands) to maximize shareholder value. Although only acquired brands appear on a company's balance sheet, the notion of putting a value on a brand forces marketing leaders to be focused on long term stewardship of the brand and managing for value.

The word "brand" is often used as a metonym referring to the company that is strongly identified with a brand.

Marque or make are often used to denote a brand of motor vehicle, which may be distinguished from a car model. A concept brand is a brand that is associated with an abstract concept, like breast cancer awareness or environmentalism, rather than a specific product, service, or business. A commodity brand is a brand associated with a commodity. Got milk? is an example of a commodity brand.

Etymology

1. A branding iron.
2. A mark of ownership made by burning, e.g. on cattle.

See also

• Brand architecture
• Brand engagement
• Brand equity
• Brand evangelism
• Brand loyalty
• Green brands
• Visual brand language