Chapter 1
Why do people wear $2,500 Rolex watches when a $40 Timex keeps time just as well? Why did the Toyota Corolla sell for a 25% premium over the virtually identical Chevrolet Geo Prizm, even though both were made in the same factory by the same people? Why do Nike shoes sell for a 70% premium over generic athletic shoes? The answer is simple: branding.
Branded products, services, and companies are worth more and carry more respect than nonbranded ones because people, rightly or wrongly, trust brands. A brand is a combination of differentiating attributes that connect on an emotional level with desired markets. A brand affects the thought process and the emotional responses of an audience. A brand is a relationship. ...
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