Purchase by Default

Time Magazine ran an article in their August 27, 2007 issue (see cover at left) titled, Why We Buy. In it, the author, Barbara Kiviat, referenced a study in which people tasted peanut butter from three jars. "Each jar contained the same peanut butter, but 75% of participants thought the contents tasted better in the jar that had a name-brand label on it." Read the full article here.

Witness the power of branding. In this world, name recognition often trumps quality because going with what is perceived as more popular ultimately seems less risky.

Does your business need a brand? What do you do to promote name recognition? Think about brands that you know and love. Why do you continue to buy those products? Do you make a conscious decision to continue with that product or do you simply reach for what's familiar?

All quite thought provoking for a Monday.