Brand equity or its value is based on how much profit a brand makes, how strong the brand is in comparison to the competitors and the role that the branding plays in the product purchase. A Nike logo matters for shoe purchases, a Keebler Elf matters a little, but not as much in cookie purchasing. The number one brand in the world, Apple, is presently worth $214 billion.

Branding is the process of creating a name, logo, symbol, and personality to represent your product or service. Brands become valuable when customers associate high value and quality products or services with your brand. Branding is vital because it creates a memorable imprint on the consumers’ brain that helps establish awareness and long-term loyalty. It provides a consistent image so consumers know what to expect. Satisfaction is based on meeting or exceeding expectations. A stable, positive image is essential. New entrepreneurs spend so much time building their new products that the importance of branding is often forgotten. The branding process can seem daunting for a new entrepreneur, but a few simple steps can start the process.

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