Our favourite definition of what defines a brand is by Marty Neumeier, author of The Brand Gap.
“A brand is a person’s gut feeling about a product, service or organisation. It is not what you say it is. It is what they say it is… It is your reputation” – Marty Neumeier.
Ultimately a brand is the sum of many things: 
•    Your employees and customer’s perception of your company
•    Your ideology and your vision
•    Your ability to execute on your promises and everything the public thinks about when they hear your company’s name. 

It’s more than the visual identifiers mentioned above, it’s about how an audience connects with your company on multiple levels and through different brand touch-points.

Consistent and strategic branding leads to building strong brand equity; meaning the added value allows you to charge more for your brand than what identical, unbranded or ‘less’ branded products charge. 
The most obvious example of this is Apple. Because Apple has built powerful brand equity, they can charge more for their products – and customers will pay that higher price. Apple connects with people – when people buy or use their products or services, they feel part of the brand (much like a tribe). It is this emotional connection that creates their brand – not purely their products and logo. Everything Apple does is calculated and adds value to their brand communication and identity. They have implemented branding across absolutely everything they do, building their whole company around it.
Companies such as Apple, Nike, and Coca-Cola are proof that in order to succeed, branding is an essential and highly important feature of any business. Do keep in mind that your brand, like you, is a living thing. It evolves over time. 
You will need to periodically check that your brand delivers what it promises. If you find any elements failing, it may be time to update or refresh your brand so that it is reaching and resonating with your target audience.