Consumer research literature has recognized the consumers' use of products and brands as props to their self‐identity. While this literature has illuminated that products indeed serve to extend one's sense of self, the concept of ‘self’ itself is under‐identified. In this conceptual essay, we propose a set of components that make up one's sense of self. Then we identify processes through which possessions become associated with one's identity or self‐concept. We suggest the utility of using the proposed framework in practice for consumers' self‐concept profiles, and for linking brands to appropriate components of ‘self.’ Copyright © 2006 John Wiley & Sons, Ltd.