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Is that worthy to pay off more for branded products?
Posted on: 13/May/2015 4:42:18 PM
Its not so easy to understand the craze people have for branded products. We pay higher rate for the product for its brand, than its actual worth. And we know that we are paying high, but we still are ready to pay more only because of the belief that branded products are always impeccable in quality. And of course, the royal feel you enjoy with few brands are incomparable for which we burn out more from our pockets.
At the same time, unbranded products do prevail in the market and exist with a good demand too. We in fact can get the same quality of a branded product in these unbranded items as well. Brands are created by investing large amounts towards advertising and they gain the trust of buyers. The investment made to reach the audience is balanced with the high price imposed on products. Similarly, products that lag in having large funds for advertisements lag in getting branded in the market, as it is very obviously understood. There are fake brands that are getting created everywhere that are made to replicate original brands.
Is the price only for the brand?
We buyers are ready to pay off more when it is of a good brand, believing we can enjoy good quality with it. It is anyway a big question mark whether we will get such a topnotch quality with unbranded products, say researchers on branding. For example: the government itself has banned the use of unbranded smartphones citing it as unsafe for use. In footwear industry, a brand which had huge reputation a few years ago is facing severe depletion in the recent years. Reason behind such a depletion is not just the heavy competition in the market, but the quality provided in branded products. Hence, there is no point in saying people would buy any product just for its branding.
This verily clarifies that branded products are not always high in quality and that emerging companies are not poor in the same. Branded products and their rates should not be seen as the price for its quality, but for the trust they have gained among the public. We also need not have a poor view on branded products, say researchers on branding.
Experienced buyers say it is important to identify which product is good and which is bad and take a call in your purchase accordingly, be it branded or unbranded products.
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