For example, brands like Dyson and Shark. Both have similar products but Dyson is just way more expensive. Is it better because it’s more? Or are you really just paying for the name.
I owned both air wrap hair tools and saw no difference between but the price was dramatically different.
I don’t understand how some things are more expensive. Lululemon has shirts for $70+ but similar ones of another brand are way cheaper. Louis Vuitton products are insanely priced but people buy them. Why are they so expensive and why do people buy them? Is it a way to say I have money? I do not understand. Thanks for any replies.
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Sometimes yes you are literally just paying for the name and not getting a better product. But most often, you’re paying for better material, better build quality, or better quality controls.
Louis Vuitton for example uses very expensive materials and has very high levels of quality control, to ensure their brand reputation doesn’t suffer. As a result, you pay a higher price.
Brands have been known to rely on their reputation to cut costs, however. Using lesser quality materials and skimping on quality control to save money, but charging the same (or more) to maintain or increase profit levels, hoping that the buyer doesn’t notice.
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