Brand management defines positioning statement, target consumers/buyers, key brand benefits, brand personality, packaging design stance, appropriate graphics, product naming and other core competencies. The brand is the personality that identifies a product. Brand management manages the physical representation and consistent application of brand identity across visual identity carriers. This can include signage, uniforms, liveries, interior design and branded merchandise. Brand implementation encompasses facets of architecture, product design, industrial design, quantity surveying, engineering, procurement, project management and retail design. Careful brand management seeks to make the product or services relevant to the target audience. Brands are more than the difference between the actual cost of a product and its selling price - they represent the sum of all valuable qualities of a product to the consumer. There are many intangibles involved in business, intangibles left wholly from the income statement and balance sheet to determine a business's worth. The learned skill of a knowledge worker, the type of mental working, the type of stitch: all may be without an 'accounting cost' but for those who truly know the product, for it is these people the company should wish to find and keep, the difference is incomparable. Brand management is the application of marketing techniques to a specific product, product line, or brand. It seeks to increase a product's perceived value to the customer, thereby increase brand franchise, and brand equity. A brand widely known in the marketplace acquires brand recognition. When brand recognition builds up to a point where a brand enjoys a critical mass of positive sentiment in the marketplace, it achieves brand franchise. One goal in brand recognition is the identification of a brand without the name of the company present. Consumers may look on branding as an important value added aspect of products or services, as it often serves to denote a certain attractive quality or characteristics. From the perspective of brand owners, branded products or services also command higher prices. Where two products resemble each other, but one of the products has no associated branding, people may often select the more expensive branded product the quality of the brand or the reputation of the brand owner.