What is brand?

As per American Marketing Association, Brand is a name, term, symbol, sign or design or a combination of them, intended to identify the product or services of one marketer and differentiate the offering from that of its competitors.

Brands are typically consists of  name, logo, tagline (colors, fonts words, tone etc), graphics, shapes, colors, sounds, scents, tastes, movements etc. A brand get distinguished by consumer on the basis of intangible attributes like emotional, symbolic, associations, personality etc.

A brand is a marketer's promise or assurance to the consumer on the product features, functional benefits and services consistently. The purpose of brand is to create distinct identity, differentiation, discrimination, aesthetic values, authenticity, perceived quality, trust, emotional benefits of product or service in the customer's mind and induce loyalty of consumer.

If the marketer does not create a brand, their product or service remained seen by the consumer as a commodity. By branding, marketer differentiate their products or services and so can earn a premium on the brand. They can defend the brand against newer competition, can have more leverage with the trade and can make brand
extensions.