The Power of Brand in Shaping Customer Perceptions

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1. Brand can influence perception of a "good enough" product: If a product is good enough, but not the highest quality, a strong brand can still create a positive experience for the customer.
2. Brand can affect perceived value: Brand can influence how customers perceive the value of a product, especially when charging a premium price.
3. Premium price requires a high-quality product: To reinforce a positive brand image and justify a premium price, it's essential to ensure the product is of the highest quality.
4. A good brand can either enhance or conflict with product impressions: A strong brand can either elevate the customer's experience with a product or, if the product is subpar, create a negative impression.

Source: How Brand Influences People..., Alex Hormozi