Final answer:
A brand is indeed something that resides in the mind of consumers. It is a mental representation of a company, product, or service, which is created through effective branding efforts that establish a positive emotional connection with consumers.
Step-by-step explanation:
True. A brand is something that resides in the mind of consumers. It is a mental representation of a company, product, or service, consisting of a combination of tangible and intangible elements. In marketing, branding is the process of creating and promoting a brand, which includes the use of symbols, advertising, and other marketing strategies to establish a positive emotional connection with consumers.For example, when you see the bitten apple symbol, you immediately think of Apple Computer. The brand has become synonymous with innovation, quality, and user-friendly technology. This mental association is the result of effective branding efforts that have strategically positioned Apple in the minds of consumers.Therefore, a brand resides in the mind of consumers and is a powerful tool that can influence their perceptions, preferences, and buying decisions.