Brand refers to the extent to which a consumer holds strong, favorable, and unique associations with a brand in memory–and the extent to which the consumer is willing to pay more for the branded version of a product than for a non-branded version.

Equity.

Explanation:

A product can be defined as any physical object or material that typically satisfy and meets the demands, needs or wants of customers. Some examples of a product are mobile phones, television, microphone, microwave oven, bread, pencil, freezer, beverages, soft drinks etc.

Corporate branding can be defined as an act which typically involves using a company's brand name in all of the advertisement process, to stimulate a favorable action on the part of the customers.

Brand recognition is also known as brand awareness and it can be defined as the ability of the consumer (customer) of a particular brand to identify their unique characteristics or qualities with respect to other rival brands.

A logo is simply a graphical symbol, emblem or illustration that serves as a means of identity and trademark of a particular company saddled with the responsibility of manufacturing goods and services for its customers. Logos are usually placed or inscribed in all products, so as to differentiate the brand from it's competitors and to make the customers aware of the identity of the manufacturer (advertiser) during an advertisement.

Hence, all of the aforementioned terminologies are used by businesses to enhance and improve their brand equity, as well as gaining the trust and loyalty of customers.

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