A strong brand is important for a business because it increases the company's value, provides direction and motivation for employees, and makes it easy for customers to choose that company. A brand encompasses more than just a logo - it is the sum of perceptions about a company's customer service, reputation, advertising, and logo. Building a powerful brand provides economic benefits like premium pricing, lower costs, higher market share, and attracting passionate employees. While building a strong brand takes work, the price of not having one is high for a business.