Trade · 6 pages · 12 min

How a brand is a promise and a premium

A brand is a name that carries a promise about the seller, and some buyers pay extra for that promise.

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From the opening

A brand is a name, mark, or design that buyers use to tell one seller's goods from another's. The premium is the extra some buyers pay because they expect that name to mean a certain quality, origin, or consistency. The opening covers the name identifies the seller, experience sticks to the name, and the premium is the extra price.

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Inside

  • The name identifies the seller
  • Experience sticks to the name
  • The premium is the extra price
  • Disappointment can be avoided later
  • Where the idea stops applying
  • A distinction worth keeping

Sources

  • Brand as a reputational signal
  • Price premium for a trade name