A brand is broader than a product. A brand relates to the image of a company that affects the way its products and services are perceived in the marketplace. A product is one distinct tangible hard good, intangible service, idea, process, information or something that is marketable for sale.
A company's brand is the image and meaning generated when its unique symbols, slogans or other brand indicators are exposed to the marketplace. Companies use marketing to establish an image for the company as a whole and to deliver messages about the quality or value of its products. The brand is the significance of placing the particular company's symbols on the products it sells.
A strong brand value has benefits to both the business and its customers. When a company has a strong brand, its products are more valuable than comparable products marketed by companies without the same brand worth. Brand's also convey a specific image for a company that it wants to come across in all of its offerings. Strong brands are more credible to customers, and consumers appreciate the ability to buy products from company brands they trust.
A product is one particular item developed and marketed by a company. A soft drink, for instance, is a type of product. The product soft drink consists of a carbonated beverage with certain ingredients. Changes in the ingredients or flavoring create a new type of soft drink; however, the ultimate value of a soft drink to a customer is impacted by the company brand of soft drink.
Marketing is the business function that is used to develop a company's brand and to market its products. Typically, companies begin marketing by developing brand awareness and building a corporate image. Ideally, this brand image carries over and has positive effects on the products the company develops and markets. As new products are introduced to the market, a company markets the product while also trying to leverage its success as an accomplished brand.