Common brand terms small business should take note of...

BRAND POSITIONING: is how a company chooses to position itself within a given industry to help it stand apart from the competition. Like when Glo says they’re the “grandmasters of data” positioning themselves as data giants among the big telcos.

BRAND IDENTITY: is the visible elements of a brand, such as color, design, and logo, that identify and distinguish the brand in consumers' minds. Like GTB is identified by the orange colour and MTN is yellow.

BRAND EQUITY: brand equity is the value your brand holds in people's minds. The more people think highly of your brand, the higher its brand equity. E.g First bank has a higher brand equity than Polaris bank due to people’s perception.

BRAND IMAGE: a brand image is how the customers think of your brand. It can be defined as the perception of the brand in the mind of the customers or in what light people see a brand. Think of a brand you love so much, they have secured a positive brand image in your heart.

BRAND PURPOSE: your brand purpose is the top reason you exist beyond just making the money, it's at the core of your brand and what you strive towards achieving everyday and with each sale. Like Nike says its purpose is to empower every human to be an athlete.

BRAND MESSAGE: a brand message is a concise, easy-to-understand communication message which tells the story of the brand. It's what makes buyers relate to your brand. E.g MTN telling you they are “Everywhere you go”

BRAND STRATEGY: is a long-term plan for the development of a successful brand in order to achieve specific goals. Brand strategy is not really spoken about but its effect is evidently seen in what the brand does and achieves.

Brand Experience: is about designing a sensory experience that brings a person into a lasting and meaningful relationship with a brand. Starbucks is well known for its trendy and eclectic feel, people go there not just for the coffee but for the experience they get from the brand

Feel free to add other brand terms you know under this thread.
Until I come your way again, I'm THE BRAND DUDE