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Your brand is how your product/service is perceived by your customers. It is essentially your reputation, which can be seen here: Your Brand = Your Reputation.
A brand is intangible and perceived differently by each individual, usually depending on their experience of using different brands. However, it brings huge value to your company by encompassing all of the below in the format of a short story or description.
Word of mouth, storytelling is partly responsible for the way advertising has changed over the last ten years.
Before companies would have large marketing budgets to spend on many viral advertising platforms such as advertisements on television and billboards. In this way they would build trust with their customers, by telling consumers what they ought to think about their product/service.
Now trust is built by the consumers themselves: a company shares a story with their consumers, which the consumers than alter according to their experience and re-tell, like gossip.
The only way now for a company to build trust and generate repeat sales from their consumers is not just to dvertise their product/service, but to perform at a high standard in a particular area that will encourage customers to come back.
Examples of this include be Mc Donald’s – quick food on the go, Netflix – convenience of watching movies from home, Mothercare – after sales service.
Your USP, the one particular feature that helps to make a difference in your consumers lives is then a part of the perception your consumers build-up of your company, your brand.