Organizations try to develop a strong or easily recognized brand so that people will choose them of of a crowd just like cowboys used brands to identify their cattle during a round up. An organizational brand has physical and mental dimensions. They usually use slogans and other descriptive words to form a mental definition. Most people think of brand as a business term. I think a better word for universities is reputation, people recognize it easily and have a high opinion of it.
Reputation is a precious commodity.
Just like with people, if you ruin your reputation, it's difficult to get it back. There are major advantages to having a strong reputation. First it's easier to recruit students. Stamats, a university recruiting company, surveys high school students each year about the factors they use in deciding where to attend. Reputation is usually at the top of the list followed by location, cost, and the majors that are offered.