This document discusses brands and brand management. It defines what a brand is, including both tangible and intangible attributes that identify a seller's products. Strong brands create loyalty and allow companies to charge premium prices. The document lists some of the top global brands and discusses strategies for building brand value over the long term through quality, positioning, communications and maintaining an internal understanding of brand values. It also outlines different brand strategies companies can employ including extensions, stretching, sponsorship and managing multiple brands.