The document discusses branding and brand equity. It defines a brand as a name, symbol or design that identifies a seller's products and differentiates them from competitors. Branding involves endowing products with the power of the brand. Brand equity refers to the added value brands provide through how consumers think of and react to the brand. Building brand equity involves identifying brand positioning, implementing brand marketing, measuring performance, and growing brand value over time. Strong brands can improve perceptions, create loyalty, and allow companies to charge premium prices.