What is branding?

I have a hunch.

Branding is a story associated with a product, service or experience that allows you to position your business in the market to charge a premium.

Your story can communicate 7 levels of visual and verbal messaging to help frame your promise:

Lvl 1: Satisfy a desire
"I'm thirsty, I need to buy that bottle of water"

Lvl 2: Have utility/quality
"I need a waterproof backpack to work remotely for 10 days"

Lvl 3: Build self belief
"Why not me?"

Lvl 4: Scarcity & demand
"I have what they can't get, and that's why I want it"

Lvl 5: Social status
"Everybody wanna be me"

Lvl 6: Competency
"I'm the best at what I do, because of you"

Lvl 7: Virtue
"I'm a good person"