Branding

The use of a name, image, and slogan to easily identify a business in relation to competitors. 

The brand can be used in conjunction with other Product strategies (packaging) and also promotional activities. 

Brands have value in that higher recognition levels lead to higher sales (trust and reliability of known business).

Businesses can have multi-branding strategies to target different markets - see positioning. 

Re-branding is possible to redirect consumer attitudes to a business. 

Risks include loss of recognition and cynicism; usually due to a response to a negative incident.