A brand is simply what you would expect the term to mean in the real world. It is the emotional or quality value associated with a particular product or company or retailer. The process of building a brand is an art in itself, for it requires careful planning, dedication, and hard work. It involves learning from your experiences with customers, getting to know their likes and dislikes and banking on them to take your business forward. Successful brands can easily afford to price their commodities on a higher marginal value while developing brands have to agree to the market standard commodity based prices.