1 Answer | Add Yours
Branding is a way of differentiating among products and services. Thus any brand by its nature appears to deliver unique value to customers. Of course, this appearance is often not a reality, or the reality of the difference has to do with identity and image more than actual product characteristics.
Luxury brands are differentiated because a great deal of the value they deliver is what Veblen referred to as "conspicuous consumption". In other words, if you buy a $2,000 handbag, the "value" you get is in showing off that you are sufficiently rich to buy such items.
No-name and store brands tend to promise to deliver low-priced goods identical in all ways but packaging to "branded" goods.
Franchised brands deliver the value of consistency. When you walk into a Starbucks anywhere in the world, you expect roughly similar coffees and free WiFi.
We’ve answered 320,442 questions. We can answer yours, too.Ask a question