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What definition of branding makes most sense to

What is branding? Give us about 300 words on branding in the space provided here, answering the following questions:

What definition of branding makes most sense to you?
What kinds of companies would branding be a bad idea/waste of money for, and why?
Discuss about commodities/price competitors. Think about whether it would be valuable or not for a price competitor to build a brand.

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Management Theories: What definition of branding makes most sense to

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