A brand identity is a set of tools or elements used by a company to create a brand image. A brand image is a customers’ perception of the brand consisting of various associations related to it and memories about interacting with it. A brand identity and its elements stem from a company’s mission, brand value proposition, long-term goals, competitive position on the market, and relevance to the values and interests of the target audience. These factors have a foundational nature and, in the branding process, describe what a company wants to communicate. Meanwhile, a brand identity describes how these foundational elements are communicated. The most commonly agreed upon elements of a brand identity usually include: