Synthesize an answer to the following questions using your favorite brands as examples: What is branding? Does a brand truly have equity?

Synthesize an answer to the following questions using your favorite brands as examples:

1. What is branding?
2. Does a brand truly have equity? Explain why or why not.
3. Can a private-label product ever develop brand equity and brand loyalty? Explain why or why not.
4. Explain the benefits of branding from both a consumer's point of view and a manufacturer's/advertiser's perspective.
5. Explain whether or not branding plays an important role in product identification, repeat sales, and new-product sales.