brand

brand A name used to identify the maker or distributor of a good. A brand was originally a mark burned on the hide of an animal to identify its owner, or on the person of a convicted criminal to warn the public of their character. In some cases a brand name is that of the original maker, which has been retained by a new owner after the originator ceased to be an independent firm. Brand names benefit producers and distributors, as they facilitate advertising and building up a reputation for a product or range of products. Branding may benefit consumers where it is difficult or impossible to discover the quality of a good by inspection before actual purchase. If the maker is easily identified, then a good which fails to give satisfaction in use will not be bought again. Producers and distributors know this, and have a strong incentive to maintain quality, and to make amends if they have failed; this incentive is weaker with unbranded goods where responsibility is hard to trace.