Why do people pay more just for a brand name or logo?
In most cases, a brand has become a recognized brand because it has established a proven reputation for a positive quality that its target customer wants. Example: Nike is associated with being worn by the most recognized and accomplished athletes in the world so people by their product believing if it is good enough for Lebron, Tiger, etc. it is good enough for me. This holds true with Rolex, Mercedes, etc.
