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Having a recognizable brand name is very valuable for a company, as it can lead to higher sales. If consumers have positive associations or feelings about a certain brand, then they'll typically be more likely to buy products in that range than generic products or products from other brands.entley is an example of a brand named after a founder. The brand name for Nintendo WiiÂ® is a completely made up word. Brand name clothing is typically more expensive. Many types of medications have both brand name and generic versions.
1 The American Marketing Association defines a brand as âA name, term, design, symbol, or any other feature that identifies one sellerâs good or service as distinct from those of other sellers. 2  The legal term for brand is trademark. 3  A brand may identify one item, a family of items, or all items of that seller. Branding is the defined personality of a product, service, company, organization or individual. 2  Many folks confuse âhaving a logoâ for an ongoing branding process, but in fact a good logo is an extension of a defined identity for a venture in the same way that a flag or national anthem may represent a country.