More and more people want to buy famous brands of clothes, cars and other items. What are the reasons? Do you think it is a positive or negative development?

With the development of
the
Correct article usage
apply
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"brand awareness," people nowadays start to purchase
products
from large and famous manufacturers. In the following contents, reasons why the phenomenon exists and personal opinion - the trend is positive - will be illustrated and analyzed. Based on the perspective of
economy
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the economy
show examples
, it is reasonable for people not to buy things from
microbusinesses
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micro businesses
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which are identified as
giffen
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Giffen
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goods. With the development of the national economy, income is increased, which means that the power of consumption has enhanced.
Therefore
,
substitution
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the substitution
show examples
effect occurs. Consumers start to abandon cheap
products
,
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apply
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and begin to purchase
products
from large brands.
Moreover
,
endowment
Correct article usage
the endowment
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effect
also
causes
this
situation. A stereotype, or bias, that
make
Correct subject-verb agreement
makes
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people originally believe that items from large manufacturers are better.
For instance
, in the automobile market, with the assumption that each individual has enough money to buy everything they want, they prefer Audi
instead
of Ford since the latter one is less famous.
However
, the truth is that
qualities
Correct article usage
the qualities
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of Ford cars are better than those of Audi. I would like to comment
this
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on this
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phenomenon as
a
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an
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advantageous trend. It is the representation that
publics
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the publics
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are
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is
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capable of obtaining better living conditions and
aquire
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acquire
the
financially
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financial
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freedom of choosing various goods.
In addition
,
this
is
also
a way to enable the market to be more competitive. Suppliers have to improve their
products
or lower the prices to attract enough consumers to keep profitable;
hence
, it benefits customers. In conclusion, what lead to the phenomenon are the development of
economy
Correct article usage
the economy
show examples
and the endowment effect of popular brands. There is a positive trend since it is the symbol of economic well-being, better living conditions, and the
Correct your spelling
existence
existance
Correct your spelling
existence
of better
products
.
Submitted by cnyrd on

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Topic Vocabulary:
  • Conspicuous consumption
  • Brand loyalty
  • Elitism
  • Marketing strategies
  • Consumer psychology
  • Purchase behavior
  • Economic stratification
  • Sustainability
  • Luxury goods
  • Peer influence
  • Global marketing
  • Brand equity
  • Materialistic values
  • Status symbol
  • Quality perception
  • Investment piece
  • Influencer culture
  • Exclusivity
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