It is the fundamental need or want that consumers satisfy by consuming the product or service. E.g.: Nimbooz by 7 up is to quench the thirst

A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers.

The 4 elements of branding are: A strong brand identity, brand image, brand culture, and brand personality. 
Smartly using these four components increases brand trust, loyalty, and awareness.