A brand is the personality or identity of an organization, product, or family of products, derived from a customer perception of rational and emotional attributes.
Businesses use branding to drive customer preference for their products and services, to sustain higher prices, to reduce the cost of (and need for) selling, to boost the return on demand generation activities, to assist word of mouth, and to improve customer retention and repeat business.
Depending on the chosen brand architecture, a brand can either apply to a company (such as Apple), as an umbrella brand across several businesses (for example, the Virgin brand ), or to individual lines of business within a company. In each circumstance, the brand is usually summarised in a brand profile.
Branding can also be used to assist with cross-selling, up-selling, and entering new businesses. The customer franchise and trust that a good brand carries will usually support the introduction of existing customers to new products and solutions that a business associates with the brand, as long as these innovations are consistent with the promise, personality, and experience of the brand.