The goal of branding is to convince the public that a logo design is trustworthy and thus worth paying a premium for. The buyer is assured that the branded product will perform as expected. But that is not only reason why people are willing to pay a premium for some brands.
Consider the differences that exist between a Rolex watch and one made by Timex. Trust in their respective abilities to accurately keep track of time is not what justifies that one can cost 100 to 500 times more than the other. Sure, the Rolex watch is well made and is truly waterproof, whereas the Timex may only be "water-resistant," a lower standard of water-tightness.
A few SCUBA divers may wear Rolex watches but i am ready to bet that the majority of Rolex wearers have never seen a decompression table..
People are willing to pay a premium price for brands that help define their self-image and their social image.
For more info: www.nextconcept.com.sg
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