Topic 11: Brand Names and Utility‏

Most people are very dependent on the brand names. Even though that the products is not that goods, people will still buy it just because of their brand name. This related to the idea of utility. The wants people want for the brand name can be the utility of it. People want brand name is because is either that they think is cool and want to show off in front of other people or think that is a symbol of wealth and richness. Brand names will greatly increase the chance of people buying the product which also increase the satisfaction and the utility of people for the brand name. This is related to consumer preference because that the products might not be good as their quality. However, some people will still buy it for the brand name instead of the quality. These are all personal preference bases on if people like the brand names or care the brand names or not. There are a great difference between non brand names products and products with brand names for some people. For example if there are two products that are exactly the same but one with brand name and one without. People will choose the one with brand name more if the name is famous and people like it. Brand names will definitely bring more utility to people. For example many people like the brand name LV, which there are many bags that are alike with the LV bags. However, people will most likely buy the one with LV on it than the non grand one.