define: Brand

A brand is the set of expectations, memories, stories and relationships that, taken together, account for a consumer's decision to choose one product or service over another.



If the consumer (whether it's a business, a buyer, a voter or a donor) doesn't pay a premium, make a selection or spread the word, then no brand value exists for that consumer. 

A brand's value is merely the sum total of how much extra people will pay, or how often they choose, the expectations, memories, stories...