Definitions by Valentyn Danylyuk

Valentyn Danylyuk

Economic Theory

Consumer Behavior

Gr. 13

Sentence definition

A brand is a selection of assets (liabilities) which is linked to a trademark that adds to (or deduct from) the value provided by a company, a product, or a service.

Extended definition

A brand is a selection of assets (liabilities) which is linked to a trademark that adds to (or deduct from) the value provided by a company, a product, or a service. A brand is an accumulation of perceptions in the mind of the consumer. Usually brands are registered (trademarked) and protected by law, so cannot be used freely by other parties. For many products and companies, branding is an essential part of marketing. In the field of marketing, brands originated in the nineteenth century with the advent of packaged goods. According to Unilever records, Pears Soap was the world's first registered commercial brand [1]. A brand is not a product, a service, or a company. A brand does not exist in the physical world - it is a mental construct.

[1] http://en.wikipedia.org/wiki/Brand_name