A brand is defined as a toolbox of marketing and communication methods that help to distinguish a company from competitors and create a lasting impression in the minds of customers. The key components that form a brandâ€™s toolbox include a brandâ€™s identity, brand communication, brand awareness, brand loyalty and various branding strategies  Brand equity is the measurable totality of a brandâ€™s worth and is validated by assessing the effectiveness of these branding components. In a fleeting market where traditional linear models of business are being replaced by more radical interconnected models, brand equity is one marketing technique that remains firmly rooted in prosperity. To reach such an invaluable brand prestige requires a commitment to a particular way of doing business. A corporation who exhibits a strong brand culture is dedicated on producing intangible outputs such as customer satisfaction, reduced price sensitivity and customer loyalty. A brand is in essence a promise to its customers that they can expect long-term security, a competitive frame of reference and consistent delivery of functional as well as emotional benefits. When a customer is familiar with a brand or favours it incomparably to its competitors, this is when a corporation has reached a high level of brand equity.
Brand identity is the embodiment behind a corporationâ€™s reason for existence. Simply, the brand identity is a set of individual components, such as a name, a design, a set of imagery, a slogan, a vision etc. which set the brand aside from others. In order for a company to exude a strong sense of brand identity, it must have an in-depth understanding of its target market, competitors and the surrounding business environment. Brand identity is comprised by both the core identity and the extended identity. The core identity reflects consistent long-term associations with the brand; whereas the extended identity involves the intricate details of the brand that help generate a constant motif
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