Stephen Burrell

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We reward good experiences

Consumers benefit from recognisable brand names because they can choose to buy more of a product they like and less of one they don't. Brands serve as the units of selection in the evolutionary marketplace of consumer capitalism. A brand name allows consumers, both individually and collectively, to reward a positive experience with repeat business and penalise a negative experience with a boycott. Therefore, businesses interested in their longevity strive to uphold their promises when these promises are tied to a brand. In contrast, without a brand, there's no investment in maintaining such promises. I think brands contribute to better products, and the absence of brands can damage markets by making it difficult for consumers to confidently choose products or services.