Commercial producers have long seen the advantage of branding their products,
that is making them appear distinctively different from those of their competitors
even when physically similar. Branding contributes a competitive edge allowing
higher prices to be charged for the brand than for the generic product. This is
achieved by creating associations in the mind of the consumer between the
named product and a wide range of other attributes so that the consumer
purchases not just the physical product or service but also various other intangible
symbolic merits (Simoes and Dibb, 2001; Hankinson and Cowking, 1993;
Elliot and Wattanasuwan, 1998). Value has thus been added without changing
the physical characteristics of the product itself. It is part of, but not a synonym
for, the wider issues of product differentiation, product positioning within
competitive situations or just the unique selling proposition of a product; all of
which are well known and easily understood concepts.