BrandsLearning Objectives:Understand what a brand is and its importance.Explain the functions that brands serve.Discuss brand associations.Understand branding strategies.Understand brand equity.Reflection and Discussion – 550 to 600 wordsReflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.Also, provide a graduate-level response to each of the following questions:Read the methodology of Interbrand.com for brand valuations. How might you improve their methods and the sorts of measures they use to assess brand equity?What is one of your favorite brands (why)? What is a brand you hate (why)?AssignmentActivity: Identify a company that have changed its logos over time. Discuss the change and the reasons behind this change. How have these changes helped the company communicate to the customer?The assignment is to answer the question provided above in essay form. This is to be in narrative form and should be as thorough as possible. Bullet points should not to be used. The paper should be at least 1.5 – 2 pages in length, Times New Roman 12-pt font, double-spaced, 1 inch margins and utilizing at least one outside scholarly or professional source related to marketing management. The textbook should also be utilized. Do not insert excess line spacing. APA formatting and citation should be used.