Branding is the process of giving products and services the power of a brand through creating a mental brand structure. There are different branding strategies like brand extension to introduce new products using an established brand name. The objectives of branding include differentiating products, assisting in promotion, increasing prestige and status, maintaining quality, and legally protecting the firm. Brand equity is the added value provided to products and services and is reflected in how consumers think of, feel about, and act towards a brand in terms of prices, market share and profits. Models like the Brand Asset Valuator and Brand Resonance Model measure brand equity through factors like brand differentiation, relevance, esteem, and brand awareness.