The document discusses the importance of branding for businesses. It defines what a brand is as the sum of all tangible and intangible characteristics that make a business unique. A strong brand establishes awareness, improves perceptions of value, and builds loyalty among clients. The key aspects of developing a brand are establishing differentiation from competitors and relevance to the target market. Finally, maintaining consistency across all touchpoints that clients interact with the business, such as marketing communications, is important for building brand equity over time.