Why we don't care about brands anymore
February 11 , 2014
There used to be a time when companies used to rely on its reputation in order to earn sales and customers would buy expensive devices based on their prior experiences with the brand. However, the situation has changed with customers having plenty of information on several products.
About 80 percent of people mentioned that they'd look at reviews online before investing in pricey items and social media makes it possible for any bad product to become a laughingstock today.
James Surowiecki of the New Yorker notes that this phenomenon isn't true for luxury items and companies such as Coca-Cola since "the brand association is integral to the experience of a product" in such cases.