Coke is just ? soda, Tylenol is just ? acetaminophen and Levi's are just ? jeans. Coke, Tylenol, and Levi's are all just simple items, but people go out of their way to choose these specific brands over others.
An economist would say, "How is this possible, that a rational consumer would be willing to pay more for exactly the same thing?" We love to think about ourselves as rational.
Brands: The Power of Identity and Influence
🤳 That's not how it works. However, the power of brands can influence our behavior beyond the point of sale.