Brands are names, symbols or designs that identify a seller's product or service and distinguish them from competitors. A brand is a valuable intangible asset that creates associations and perceptions for customers. Strong brands simplify customer decisions, build awareness and loyalty, and act as a quality signal. Developing brand equity involves crafting the brand identity, managing customer experiences and associations, and leveraging the brand through marketing activities. Co-branding and strategic brand extensions can help grow brands but must be carefully implemented to avoid damaging either partner brand. Proper brand positioning and ongoing management are needed to keep a brand relevant and differentiated over time.