Final answer:
A community formed around the social relationships among users of a brand and their connection with the brand and its products is known as a brand community.
Step-by-step explanation:
The non-geographically bound community, based on a set of social relationships among owners of a brand and the psychological relationship they have with the brand itself, the product in use, and the firm is known as a brand community.
A brand community represents a group of people with a shared interest in a particular brand, often forming emotional connections and engaging in social interactions that are centered around the brand's products or services. Unlike cohort groups or purchase consortiums, which may refer to groups based on particular demographic traits or collective purchasing, a brand community is specifically linked to the relationship consumers have with a brand and each other, representing a complex form of social affiliation transcending traditional geographic boundaries.