Brand building Developing a brand's image and standing with a view to creating long term benefits for brand awareness and brand value
Brand equity Brand equity refers to the value of a brand. Brand equity is based on the extent to which the brand has high brand loyalty, name awareness, perceived quality and strong product associations. Brand equity also includes other “intangible” assets such as patents, trademarks and channel relationships.
Brand extension Brand extension refers to the use of a successful brand name to launch a new or modified product in a new market. Virgin is perhaps the best example of how brand extension can be applied into quite diverse and distinct markets.
Brand image Brand image refers to the set of beliefs that customers hold about a particular brand. These are important to develop well since a negative brand image can be very difficult to shake off.
Brand loyalty A strongly motivated and long standing decision to purchase a particular product or service
Brand recognition A customer's awareness that a brand exists and is an alternative to purchase
