How do do consumers perceive value in a company? Is it what they know about the brand or the function of the product? No, there are a lot of things out there that consumers would pay for even knowing when its not worth the price. Most of the time, it is for personal image. Branding can be very important. What is it about Apple that makes their product so popular, the answer is not because the product is amazing or perfect. It is simply because it has the apple logo on there.
A lot of people like to show off what they have to make them feel they are in a higher social class than they really are. I’ve heard stories of people who are on welfare, but yet they are buying expensive purses and luxury items. Why not just settle for something you can get at Walmart for a lower price? Because Walmart has the image for cheap China material. Some people are embarrassed to show their status. Humans like to show off things to others for things they don’t really own. Is this good or bad for society?
I am a senior at the University of Nevada, Reno, with majors in marketing and management. I am expected to graduate in May of 2012. I would like to pursue my career in the field of research and development.