We all live in a world where a perfect lifestyle demands an Iphone /Ipad/mac for a gadget, an Adidas/Nike/Puma for a shoe; a sony/Bose/Skull candy for a headphone; a Louis Vuitton /Micheal Kors/Gucci for a Bag ;a Royal Enfield /Harley Davidson/BMW for a bike and the show goes on . Did you realize the familiarity with these brands include us in a common category named as “BRAND MANAIACS”.We all love our brands and substitutes are always a second option ..Ever wondered why ??
Because acceptance happens to be a very integral aspect in our life .We feel at ease ..”IN FAD”a few may consider. But in reality we all know the first rule for every purchase is to look out for Quality not the price or brand value of the product although the big brands promise quality but shedding those extra shillings does not necessarily promise a better quality.. we all know what that means…!!
The look on our face says it all when someone buys a similar product with better features at a much lower rate. I am not talking about the made in china use and throw products rather the substandard brands. Doesn’t it cause a minor glitch in your monetary skills.. Can you recall something in economics that commerce students can relate to..??
- Human wants are unlimited
- Resources are scarce and
- Needs have alternative uses
Do you see a pattern..? Our wants are unlimited… So true!! But, it is the need, quality, comfort and value for money that one has to look for when buying a product if your brand has the following well and good it should not be the other way round.
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