Why do people prefer branded products

Successfully branded products make more money for their companies by commanding premium prices. What smartphone do you own? What car do you drive? What shoes do you wear? The brands we use make a statement about who we are and who we want to be. People become emotionally attached to the brands they use and view them as part of their self-image. We all have opinions about the things we experience, and we like to share them with others. In our increasingly social world, we have more opportunities than ever to spread the benefit of our experiences.

Strong brands give consumers a reason to share their experiences. From having good experiences with the brand in the past, to wanting to portray a certain image, many shoppers are extremely loyal to their beloved brands. Consumers generally buy a product for the first time in hopes that it provides a quality experience.

They hope a computer works efficiently and helps them perform personal or work tasks effectively. They buy food hoping for a quality taste or nutritional value. Recognized brand names typically have shown a consistency in product quality that has contributed to the evolution of the brand. Often, consumers rely on prior experiences or public word-of-mouth when selecting brands. People have a desire to fit in, whether at school, work or in social circles.

For this reason, people sometimes buy brands because they believe the brands will contribute to greater social acceptance. This is especially true in fashion. The more customers that identify with your brand, the more loyal they become to it and the more resistant they are to any attempts made by competitors to lure them away.

As customers identify with a brand, their intent to repurchase and willingness to purchase from that brand increases. For example, it is unusual to see our Director, Jacob Dilley, wearing anything other than Crew Clothing or something similar. He connects with their ethos, style and coastal fashion so pulling him over to something like Topman or Superdry will be a very hard task.

Customer buying patterns are very complicated. The world is inundated with new businesses launching each and every day. With such a high saturation in most markets, it is easy for someone to feel lost amongst the noise when choosing to purchase something.

It is difficult to understand why they should buy from one brand over another, but, inevitably, customers will land on one. Apply market research to generate audience insights.

Measure content performance. Develop and improve products. List of Partners vendors. For many people, buying a luxury handbag is not an uncommon purchase: perhaps just as common as buying a blouse at Target Corporation TGT. While the appeal of luxury goods is undeniable—the leather is soft, the logo is flashy—the price tag can be off-putting.

A perfectly rational person would always act in accordance with reason or logic; in other words, a perfectly rational person would always act in their own best interest including in their own best financial interest.

However, numerous modern behavioral psychology studies have revealed that humans don't always act rationally. And many consumers who buy luxury goods are not in a financial position to be able to afford luxury goods. The proof of this may be in the high rates of consumer debt that many Americans have. One possible explanation for this is the human tendency to overemphasize the positive elements of a product and ignore its disadvantages.

For example, in the case of Apple Inc. This despite the fact that Apple products are not technologically unique or superior. In fact, Samsung makes phones with better features compared to most models of the iPhone , and Microsoft Corporation MSFT and Xiaomi make phones that typically have a cheaper price point.

Nevertheless, Apple experiences a high degree of brand loyalty and seems to break sales records year after year. Because some people perceive non-luxury goods as inferior simply by virtue of them being non-luxury and not on the basis of their characteristics or qualities , they also come to the irrational conclusion that higher priced goods are of better quality.

Contrary to the evidence, they may believe that you get what you pay for, regardless of whether the goods are actually better than their more affordable counterparts. In some cases, low self-esteem can be a factor that influences whether or not a consumer purchases luxury goods, especially if they can not easily afford the cost of luxury items.

For some consumers, a luxury good can go a long way in increasing self-esteem or providing a sense of belonging.