Branding can be touched, viewed, smelt, heard and even tasted.
It’s how people think of your business and what they attributes they associate with it. An example of this is Apple v Microsoft – Both sell computers but we think of one as corporate and the other as a fun and creative even though what we use their products for is the same.
Branding extends to social status too, is a mac user more creative than a Microsoft user? Probably not but by making the conscious decision to buy a mac we are telling people we align with their beliefs.