You can categorize emails using generic and descriptive labels.
How to create a label:
1- Go your inbox from the right side bar
2- Click on the "Plus" icon on the right side on "Labels",
3- Enter "Label Title" and "Label Color",
4- And done.
How to edit a label:
1- Open up your Labels list from your inbox,
2- Select the label you'd like to change,
3- Edit title or color as you wish.
How to add a label to an email?
You can add labels in bulk and for each thread of emails.
How to remove a label?
1- Open the email you'd like to remove the label from.
2- Click on "cross" icon on the top to remove the label.