1 Company Attempting an Unprecedented Strategy
For companies, their "brand" can be a tricky thing to define. A founding father of modern advertising referred to it as "the intangible sum of a product's attributes." Others have said it is simply what prospective customers think about when they hear the name of your product or company.
Either way, the goal is to establish a positive emotional connection between what you are selling and the people you are trying to sell it to.
Some companies are viewed as a great value; others want to be seen as high quality. Both are rooted in something practical. On the other end of the spectrum are luxury brands. A luxury brand has nothing to do with being practical. It's about status.
Source Fool.com
