| benefits | Advantages that allow a product to satisfy customers' needs, wants, and desires.
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| brand community | A collection of customers who own the same brand and enjoy talking to each other, learning from each other, and sharing new ways of using their products, as well as getting help in solving problems.
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| brand equity | The intangible value of a brand.
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| brand extension | The application of an established brand name to new product offerings.
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| brand image | An impression created by brand messages and experiences and assimilated into a perception of the brand.
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| brand licensing | Renting the use of a brand to another company.
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| brand loyalty | The degree of attachment that a customer has to a brand as expressed by repeat purchases.
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| brand position | How a brand compares to its competitors in the minds of customers, prospects, and other stakeholders.
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| branding | The process of creating a brand image that engages the hearts and minds of customers.
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| co-branding | A strategy that capitalizes on two brand names (owned by separate companies) and provides customers value from both brands.
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| commodity products | Goods and services that have very minor or no distinguishing differences.
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| customer relationship management (CRM) | A type of database software for tracking customers.
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| customer relationships | A series of interactions between customers and a company over time.
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| heavy users | Customers who buy an above-average amount of a given product.
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| ingredient branding | Using the brand name of a product component in the promotion of another company's product.
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| logo | (1) A distinctive graphic design used to communicate a product, company, or organization identity. (2) A word, phrase, or graphic element used to identify a brand.
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| multi-tier branding | The use of two or more brands (all owned by the same company) in the identification of a product.
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| Pareto rule | 80 percent of a brand's sales come from 20 percent of its customers (named after Italian economist Vilfredo Pareto).
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| perceptual mapping | A visualization of how customers perceive competing brands on various selection criteria.
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| pre-emptive positioning | Brand positioning built on a generic feature of the product that competitors have not talked about.
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| product features | The elements making up a good or service.
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| share of wallet | The percentage of a customer's spending in a product category for one particular brand.
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| store brand | A brand used exclusively by one chain of stores for a line of products made to the store's specification; also known as a house brand or private label.
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| trademark | Any element, words, or design that differentiates one brand from another.
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