Working with Type - Adobe Illustrator CS6 on Demand - page 496

Working with Type Styles
A style is a group of format settings that you can create or modify to get the exact look
you want. When you create a new style, you can specify if it applies to paragraphs or char-
acters, and give the style a short name that describes its purpose so you and others know
when to use that style. A paragraph style is a group of format settings that can be applied
only to all of the text within a paragraph (even if it is a one-line paragraph), while a char-
acter style is a group of format settings that is applied to any block of text at the user's
discretion. To modify a style, adjust the formatting settings of an existing style. If you see
a style with a plus sign (+) after the name, it means that the type with the applied style
also contains other formatting, which you can remove, or redefine the style.
Create or Edit Styles
Select any type tool, and then select the type that you want to use as the style.