Brand/Branding
The identity and reputation of a product or company, comprising name, logo, design, values, and customer perception.
Real World
Apple's brand is so strong that customers queue overnight for new iPhones and willingly pay £1,200+ — far above the cost of production — purely because of perceived status and quality.
Exam Focus
Link branding to pricing power and customer loyalty in 'analyse' questions; examiners reward chains of reasoning beyond just 'increases sales'.
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