Topic 11: Brand Names and Utility

Brand names definitely gives you more utility than do products that do not have brand names. When we hear brand names, we automatically think that they are, well, great. I think this might just be some psychological aspect of our minds. These companies spend a lot of money on advertisement and making their products look appealing.It is also more credible to buy brand name products because you've heard it from other people or from the advertisements a lot so you know that the products have to be good. It feels better when I buy a real abercrombie shirt than when I buy a fake one that spells abrecrombie. I just HAVE the feeling that the real one has better quality. However, sometimes when a product is too expensive, one may consider to buy a similar product that is much cheaper. If a no-name product has the same durability, quality...etc as the brand-name product, it will eventually have the same, or even more demand than the brand-name product. However, this takes time because people have to first try it out and if they like it, they will become loyal customers. They will then suggest it to friends and it will slowly spread. Some examples of brand-names that are unimportant to me are clothes that are ridiculously expensive and have cheaper versions that look almost exactly the same with the same quality. And things that do matter are products like iPhone, expensive bags, and food (because brand-names seem more reliable and edible....)