Over time, I have heard people define "brand" in many different ways. Following are some of the most useful ways to think about brands:
- A brand is the personification of an organization or its products and services. Because of this, a brand can possess certain values, have a specific personality, make promises and emotionally connect with people.
- A brand is the source of a promise to its intended audiences. It should promise something unique and compelling. It then needs to consistently deliver on that promise.
- A brand is owned in the mind of its customers.
- A brand typically has one or two primary associations. That is, it tends to stand for one or, at the most, two very specific things in people's minds.
- A brand is responsible for moving a product or service from commodity status to something that is differentiated and for which people are willing to pay a price premium.
- A brand's perceptions are formed by all of the experiences that one has with the brand.
“Your brand is what other people say about you when you're not in the room.” Jeff Bezos, the founder of Amazon.com