Branding is the set of associations people make with a company, product, or service. Branding helps define the target market, differentiate from competition, promote messages, create loyalty, and drive sales. Consistent branding adds value by helping consumers make decisions and generates loyalty. It also provides an engagement tool. People are generally willing to pay more for a branded product. Defining a brand involves answering questions about its big idea, values, vision, and personality to develop a strong brand. Powerful brands like Coca-Cola become eclipsed by their brand equity and associations people have with the brand. Branding practices are important for both large and small businesses.