A brand is a set of characteristics – or an identity – that is easily recognisable and which enhances the reputation of your products or services.

A brand should embody the unique selling points of your product or service. An accountant could place a figure on some of the goodwill you have built up on your brand values.

Brands aren’t just for big companies – they can make smaller businesses stand out from the crowd, particularly in competitive markets. A strong brand image will help you establish an edge over your rivals and can open doors to new opportunities. For example, other lines can be bought in, branded and sold as your own products.

The key attributes of a brand will include a name, a symbol or a design (or a combination of the three); this branding identifies a product, service, person or organisation as having a unique selling point. It can then be used across all marketing activity.