Why People Like Brands
Before we attempt to untangle the exact meanings of all the latest branding buzzwords, let’s first define the most basic of terms, a brand. The following is an all-purpose definition of a consumer brand taken from the American Marketing Association:
A brand is a name, term, sign, design, or a unifying combination of them intended to identify and distinguish the product or service from its competitors. Brand names communicate attributes and meaning that are designed to enhance the value of a product beyond its functional value. The basic reason for branding is to provide a symbol that facilitates rapid identification of the product and its repurchase by customers.