You have aced the branding game when- your audience narrates your story, instead of you doing it!
There is an ocean full of efforts and emotions put forth to launch a product/brand. There is an ocean full of competitors selling similar products. Branding is what gives your brand a personality, an identity that distinguishes it from the mob. If we had to quote it a little more grammatically- every brand is a common noun, it is branding that makes it a proper noun! The only myth about it is that needs to be done at the start of a business. It is like watering your plants- the day you stop doing it, don’t expect the same about of fruits.