brand glossary: brand

A living business asset, designed to enhance the connection between a business and customer or consumer. A brand is the way in which people understand, navigate and talk about a company’s business strategy and it simplifies decision-making when selecting a product or service. A brand helps ensure relationships that secure and create future earnings by driving demand, commanding a premium and engendering loyalty. Once simply considered trademarks or logos/logotypes, brands deliver tangible economic value.

See also: brand valuation, brand value, role of brand