Brand image is the perception of customers about a particular brand. Image of any brand tends to develop over time. Brand image is formed in the minds of customers based upon the experience and interaction of the customers with the brand, interactions can take place in different ways and not necessarily only the buying or using of the product and service.
As previously discussed, the question isn't whether or not you have a brand -- the question is whether or not it's the one you really want. A strong brand identity can both initially attract customers to you and keep them coming back for more.
Due to increasing online competition, having a distinct identity and message has never been more important. The companies who take the time to really get clear on what they stand for, and communicate it in a way that makes people care, will always have a competitive edge.